Renaissance Capital Growth & Income Fund III Inc.

G. RUSSELL CLEVELAND has been the President, Chief Executive Officer, sole Director, and majority shareholder of Renaissance Capital Group, Inc. He is also President, Chief Executive Officer, and a director of Renaissance Capital Growth & Income Fund III, Inc. Mr. Cleveland is a Chartered Financial Analyst with more than thirty-five (35) years experience as a specialist in investments for smaller capitalization companies. A graduate of the Wharton School of Business, Mr. Cleveland has served as President of the Dallas Association of Investment Analysts. Mr. Cleveland currently serves on the Boards of Directors of Renaissance U.S. Growth & Income Trust PLC, Cover-All Technologies, Inc., Digital Recorders, Inc., Integrated Security Systems, Inc., Camino-Soft, Inc. and Precis, Inc.

Robert C. Pearson, joined RENN Group in April of 1997 and is Senior Vice President-Investments. He is also Vice-President of the Fund. Mr. Pearson brings more than thirty years of experience to RENN Group's corporate finance function. From May 1994 to May 1997, Mr. Pearson was an independent financial management consultant. From May 1990 to May 1994, he served as Chief Financial Officer and Executive Vice President of Thomas Group Inc. a management consulting firm, where he was instrumental in moving small privately held company from start-up to a public company with more than $40 million in revenues. Prior to 1990, Mr. Pearson was responsible for all administrative activities for the Super Conducting Super Collider Laboratory. In addition, from 1960 to 1985, Mr. Pearson served in a variety of positions at Texas Instruments in financial planning and analysis, holding a BS in Business from the University of Maryland and was a W.A. Paton Scholar with an MBA from the University of Michigan. He is director of eOriginal, Inc., Poore Brothers, Inc., Caminosoft Corp., Laserscope, Simtek Corporation, and Advanced Power Technologies, Inc.