Morgan Stanley

Most recently, Mr. Heredia was Head of Sales and Marketing at Morgan Stanley Investment Management in India. Prior to joining Morgan Stanley in February 2007, he worked for HSBC Asset Management (India) Private Limited as Head of Sales and Distribution from 2001. He was the Assistant Vice President for Business Development at Birla Sun Life Asset Management Company from 1995 to 2001. Mr. Heredia has over 13 years experience in sales and marketing in the Indian fund management industry and he is a graduate of the University of Mumbai with a Chartered Accountant qualification.

Mr. Mack was elected Chairman of the Board and Chief Executive Officer of Morgan Stanley in June 2005. He previously had spent nearly 30 years at the Firm in various positions, most recently as President, Chief Operating Officer and a Director. Prior to his current role, Mr. Mack served as Chairman of Pequot Capital Management. He served before that as co-Chief Executive Officer of Credit Suisse Group and Chief Executive Officer of Credit Suisse First Boston. Mr. Mack is a graduate of Duke University, where he is a member of the Board of Trustees. He also serves as Chairman of the Board of Trustees of New York-Presbyterian Hospital and the University Hospital of both Columbia and Cornell, a Director of IMG, Trustee Emeritus of the Doris Duke Charitable Foundation and a member of the Business Council and the Business Roundtable.

Prior to his new role as Chief Executive Officer of Morgan Stanley Asia, Owen Thomas served as President of Morgan Stanley Investment Management (MSIM) from December 2005. Under his leadership (third quarter 2005 to fourth quarter 2007), global assets under management grew from US$428 billion to US$597 billion and MSIM net revenues grew from US$679 million to US$1.288 billion. From 2000 to 2005 Mr. Thomas was Head of Morgan Stanley Real Estate, the Firm’s industryleading real estate investing and financial services franchise. Mr. Thomas first joined Morgan Stanley in 1987. He began managing the real estate investing business in 1994, was named Managing Director in 1995 and was appointed Head of Morgan Stanley Real Estate in 2000. He is a Trustee of the Urban Land Institute, Vice Chairman of the Pension Real Estate Association and a member of the Real Estate Roundtable. He received a bachelor’s degree from the University of Virginia and an MBA from Harvard Business School.

Wei Christianson is a Managing Director and Morgan Stanley’s China CEO as of May 2006. Prior to that, Wei Christianson was a Managing Director and Chairman of China, Citigroup Global Markets (Asia) Ltd., where she was responsible for the securities and investment banking businesses in China. Before joining Citigroup, she held a similar position with Credit Suisse First Boston, as a Managing Director, Chairman and Country Manager. Ms. Christianson joined Credit Suisse First Boston from Morgan Stanley, where she was an Executive Director, Beijing Chief Representative, and a senior team member of Morgan Stanley's Resources, Power and Transportation Group. Since joining Morgan Stanley in 1998, and with her subsequent assignments at other firms, Ms. Christianson has been involved in and led the executions of many of landmark privatizations critical to China's corporatization and economic liberalization process, involving the often complex restructuring and then initial public offerings (IPO) of stateowned enterprises in New York, London and Hong Kong. These include China Life, Sinopec, Chalco, Sinotrans and China Oilfield Services Ltd. She has also led the execution of several significant M&A transactions by overseas listed Chinese companies. In the early nineties, prior to joining Morgan Stanley, Ms. Christianson was an Associate Director of Corporate Finance Department at the Hong Kong Securities and Futures Commission (SFC). While at the SFC, she helped formulate the rules and regulations of the local securities market in preparation for the public listing in Hong Kong of the first group of Mainland Chinese companies in 1993. Before relocating to Hong Kong for this assignment, Ms. Christianson was a lawyer in New York with Orrik, Herrington and Sutcliffe, where she specialized in U.S. securities transactions, including the public listing and private placement of U.S. equities and bonds. Ms. Christianson graduated cum laude from Amherst College, Massachusetts. In 1989 she received her J.D. degree (with Honors in International Law) from the Columbia University School of Law. In January 2006 Ms. Christianson was awarded the prestigious Columbia Law School 'Medal of Excellence'. (The medal is awarded annually to two alumni who have distinguished themselves professionally. Prior recipients include U.S. Supreme Court Justice Ruth Bader Ginsburg and Columbia University President Lee C. Bollinger.) She is a lawyer admitted to practice in the State of New York. Ms. Christianson is married with three children and lives in Beijing.

James P. Gorman is Co-President of Morgan Stanley, a leading global financial services firm. He reports to Chairman and Chief Executive Officer John J. Mack and serves as a member of the Morgan Stanley Management Committee. In this role, he works closely with Co-President Walid A. Chammah across all aspects of Morgan Stanley’s business. The Firm’s Global Wealth Management Group (GWMG) and Morgan Stanley Investment Management (MSIM) report to him on a dayto- day basis, as do the operations and technology functions. He also co-heads corporate strategy. In addition to these duties, Mr. Gorman will serve as Chairman of Morgan Stanley Smith Barney, a new joint venture between Morgan Stanley and Citi that was announced in January, 2009 and will become an industry-leading wealth management organization upon closure, which is expected later in 2009. Mr. Gorman joined Morgan Stanley in February, 2006 as President and Chief Operating officer of GWMG. One of the largest businesses of its kind in the world, GWMG provides a range of wealth management products and services to individuals, businesses and institutions through a network of nearly 500 offices worldwide. Before joining Morgan Stanley, Mr. Gorman held a succession of executive positions at Merrill Lynch. From 2001 to 2005 he led the company’s US and, subsequently, global private client businesses, the equivalent of GWMG at Morgan

Mr. Lynch, 54, joined CSFB as Global General Counsel in October, 2001. In December 2002, he was named Executive Vice Chairman and placed in charge of overseeing both the Research and the Compliance Divisions. From 1985 to 1989, Mr. Lynch served as director of the Enforcement Division of the SEC. In that capacity, he directed the activities of a nationwide staff of 700 employees responsible for enforcing federal securities laws. In his 13 years with the SEC, Mr. Lynch participated in many of its most important actions and initiatives in the areas of corporate disclosure, tender offers and proxy contests, and insider trading. In 1989, following his service at the SEC, Mr. Lynch joined the law firm of Davis Polk & Wardwell as a partner. He advised and represented a wide cross-section of that firm?s clients, including major public companies and investment and accounting firms. He also conducted internal investigations on behalf of senior management or the boards of directors of corporations and provided counsel on corporate governance matters. Mr. Lynch graduated from Syracuse University in 1972, Phi Beta Kappa. He received his J.D. from Duke University School of Law in 1975. A frequent lecturer on a wide variety of subjects relating to the federal securities laws, Mr. Lynch regularly appears on the faculty of continuing legal education programs.

Professional • Goldman Sachs 2007-2008, Managing Director • General Motors Asset Management 1991-2007, Portfolio Manager and Director of Business Strategy • Banque Indosuez 1998-1990, Assistant Vice President • Olympia & York 1984-1988 o 1987-1999: Senior Financial Analyst o 1986-1987: Financial Analyst o 1984-1986: Junior Financial Analyst Education • New York University Stern School of Business, New York, New York, MBA, Finance • Wesleyan University, Middletown, Connecticut, BA with Honors, Literature with Philosophy and History Associations • Pension Real Estate Association (PREA), Director, Board of Trustees • Urban Land Institute (UD/MUC Silver Council) (ULI) • National Council of Real Estate Investment Fiduciaries (NCREIF) • European Association for Investors in Non-Listed Real Estate Vehicles (INREV)

Mr. deRegt is Chief Risk Officer at Morgan Stanley. Previously, he was a senior advisor of Aetos Capital, providing oversight in areas of investment strategy, overall operations and risk management. Prior to joining Aetos Capital in January 2003, Mr. deRegt headed the Fixed Income, Currencies and Commodities businesses for Morgan Stanley. He was a member of the Firm's Management Committee and had a variety of responsibilities relating to different Fixed Income businesses, including the Firm's Government Securities business and certain international businesses. Mr. deRegt is a graduate of Stanford University. He currently is the Chairman of the Board of Trustees of Eagle Hill School. He is also a member of the Board of Trustees of PASE - The Partnership for After School Education.

Timothy Morris is a Managing Director and Global Chief Investment Officer of the Morgan Stanley Real Estate Special Situations Fund III, a $40billion International Real Estate Fund. In addition, Mr. Morris is an Investment Committee member of the Morgan Stanley Real Estate Funds (total AUM in excess of $50 billion). He spent two years in London as the Co-Head of Morgan Stanley’s European Real Estate Investing Business. Prior to his time in London, Mr. Morris spent 13 years in New York and Hong Kong assisting real estate clients in accessing the international debt and equity capital markets. During his five years in Hong Kong, Mr. Morris was responsible for Morgan Stanley’s non-Japan Asia real estate activities, including both advisory and direct investment activities. He received his B.S. degree in Finance from Indiana University in 1988.

Peter Kuper is the Vice President, Senior Research Analyst at Morgan Stanley where he heads the software team after establishing their platform in the security and content management technologies. In his role as a leading analyst, Peter maintains relationships with significant research labs including the US Government’s PNNL, software entrepreneurs and management teams to provide them with unparalleled access to his research and findings. Most recently he was a director and equity analyst at SG Cowen Company, where he covered the software sector with a particular focus on security. He has also been an equity analyst and vice president at FAC/Equities and a research analyst at Keefe, Bruyette Woods. His background includes experience in mergers and acquisitions, asset management and venture capital. Peter is also a faculty member of the Institute for Applied Network Security. In addition, Peter has been Keynote speaker at number of industry events such as the Cisco Global Sales Conference and regularly gives presentations to venture capital firms and government agencies including the Pentagon. Peter has frequently appeared on business television programs including CNBC and has been quoted in numerous publications most notably The Wall Street Journal, Financial Times, Reuters and Bloomberg News.