Penson Worldwide Inc.

Phil Pendergraft was appointed as Penson Worldwide, Inc.’s Chief Executive Officer in July 2005. From October 2000 through July 2005, Mr. Pendergraft served as the Executive Vice President and Chief Operating Officer. He has served as a member of Penson Worldwide, Inc.’s Board of Directors since September 2000, and has served as an executive officer and Director of certain of our affiliated entities since 1995. Mr. Pendergraft has more than 20 years of securities industry experience, including starting up three clearing operations. Mr. Pendergraft holds a B.A. in economics from Trinity University.

Daniel P. Son has served as Penson Worldwide, Inc.’s President and a member of the Board of Directors since September 2000. Prior to that, he served as President and a member of the Board of Directors of our predecessor entities. Mr. Son has over 32 years of brokerage operations and clearing experience and has started three clearing operations in the last 17 years. Mr. Son holds a B.B.A. in accounting from Southern Methodist University.

John has more than 20 years of industry experience, 14 of those working with businesses dedicated to providing services and support to brokers and investment counselors. He was responsible for the launch of two Penson Canada business lines – PensonPrime and Market Essentials Group.

Peter Wind is Vice Chairman of Penson GHCO, and also serves as Senior Vice President of Penson Worldwide, Inc.. Prior to joining Penson in 2002, Peter was with Cargill for 30 years in a variety of trading and management roles. As Senior Vice President, Global Financial Markets, he had responsibility for Cargill Investor Services' equity, interest rates, and foreign exchange trading activities.

Mr. Engemoen is Chairman of Penson Worldwide, Inc., an officer of most of the Penson companies and a director of all of the companies in the Penson Group. He has more than 25 years experience in the securities industry in both the banking and brokerage sectors. He is the founder of Service Asset Management Company, a predecessor company to Penson Financial Services, Inc. and is the Chairman of SAMCO Capital Markets, Inc., SAMCO Holdings, Inc. and SAMCO Financial Advisors, Inc. He is a graduate of Southern Methodist University with a Bachelor and Masters Degree in Business Administration.

David Reed is President of Causeway Capital Management LLC, which is the Managing Partner of his family investment partnership. He also is the co-founder and a principal shareholder of ANSRSource, Inc., which provides captive incubation services in India for Fortune companies. He retired as Senior Vice Chair for Ernst & Young LLP in 2000, where he held several senior US and global operating, administrative and marketing roles in his 26-year tenure with the firm, including eleven years on its US and Global Management Committees. He was instrumental in founding Ernst & Young's venture capital fund in 1998 where he gained considerable insight into software and internet start-up technologies. In addition to his board role at CREDANT TECHNOLOGIES, he currently serves on the public boards of Lone Star Technologies (oil country tubular goods manufacturer), Drew Industries (RV and manufactured housing component manufacturing), and Penson Worldwide (independent clearing firm for international broker dealers). Further, he provides consulting and strategic advisory roles for Red Rock Ventures III (Silicon Valley venture capital fund).

David Johnson has served as a member of Penson Worldwide, Inc.’s Board of Directors since January 2006. Mr. Johnson also serves as a member of the board of directors of Condell Medical Center. From 1982 to 2005, he served in various capacities at Morgan Stanley, most recently as a managing director. Mr. Johnson was a member of a number of exchanges, including the Chicago Board Options Exchange, the Chicago Stock Exchange and the American Stock Exchange. He was in the United States Navy Reserve from 1966 until 1972. Mr. Johnson attended the New York School of Finance.

David M. Kelly has served as a member of Penson Worldwide, Inc.’s Board of Directors since September 2000 and as the lead independent director since 2007. Mr. Kelly retired in February 2000 from his position as President of the National Securities Clearing Corporation, a position he held from 1983, and as Vice Chairman of DTCC and Vice Chairman and Chief Executive Officer of GSCC. In April 2000, Mr. Kelly joined the board of directors of the Chicago Stock Exchange where he continues to serve as a director and in the capacity of Chairman of the Regulatory Oversight Committee. Since September 2000, Mr. Kelly has been an independent trustee of the SPDR Series Trust, part of State Street Global Advisors, and an independent trustee of SPDR Index Shares since July 2004. Mr. Kelly has served as a director of Custodial Trust Company and as a member of its Trust Committee since April 2003. Mr. Kelly received his B.A. in economics from Michigan State University and served in the United States Marine Corps.

James S. Dyer has served as a member of Penson Worldwide, Inc.’s Board of Directors since September 2000. Dr. Dyer holds the Fondren Centennial Chair in Business at the McCombs School of Business at The University of Texas at Austin, where he has been a professor of business administration since September 1978. Dr. Dyer served as the Chairman of the Department of Management Science/Information Systems at the McCombs School from 1988 to 1997. Dr. Dyer holds a B.A. in physics and a Ph.D. in business administration from The University of Texas at Austin.

Thomas R. Johnson has served as a member of Penson Worldwide, Inc.’s Board of Directors since August 2003. Since November 2001, Mr. Johnson has served as the President, Chief Executive Officer and a member of the board of directors of Call Now, Inc., a publicly traded company. Prior to joining Call Now, Inc., Mr. Johnson was an independent fixed-income trader and analyst from January 1999 to November 2001. Mr. Johnson holds a B.A. from St. Lawrence University.