Bruce Robertson, Chairman of the Board

Mr. Robertson is a Managing Partner at Brookfield Asset Management, where he is responsible for the development of private and listed funds. Between 1996 and his current appointment in 2002, Mr. Robertson served in a number of capacities with Brookfield's affiliates, including as the Chief Financial Officer of a predecessor to Brookfield, in corporate development within Brookfield Power, merchant banking origination and management, and as Vice President of Investment Banking at Trilon Securities Corporation. Prior to joining Brookfield, Mr. Robertson spent over seven years at Deloitte & Touche LLP in Toronto, including five years in its insolvency and restructuring practice. Bruce is a Chartered Accountant and earned a Bachelor of Commerce (Honours) at Queen's University, Canada.

Clifford Lai

Mr. Lai is a Managing Partner at Brookfield Asset Management, where he oversees the growth of Brookfield's investment management platform. In addition, Mr. Lai serves as President and Director of Hyperion Brookfield’s public and private closed-end funds. He has been with Hyperion Brookfield since 1993, serving as the Chief Investment Officer until 2001, and he has over 27 years of experience in the industry. Prior to joining Hyperion Brookfield, Mr. Lai’s roles included Managing Director of Fixed Income at First Boston Asset Management, Vice President at Morgan Stanley and Senior Portfolio Manager at Benham Capital Management. Mr. Lai earned a BA from the University of California-Berkeley and an MBA from California State University of San Francisco.

Rodman Drake

Mr. Drake has been Chairman (since 2003) and Director (since 1989) of several investment companies advised by Hyperion Brookfield and its affiliates. Mr. Drake is a co-founder of Baringo Capital LLC, a private equity firm that was formed in 2002, and serves on the Boards of Directors of Celgene Corp., Student Loan Corp., Apex Silver Corp., the Animal Medical Center, Parsons Brinckerhoff, Inc. and Jackson Hewitt Tax Services, Inc. Mr. Drake also is a Trustee of the Excelsior Funds Groups, which are sponsored by US Trust Co. Mr. Drake earned a BA from Yale University, and he holds an MBA from Harvard Business School.

Janet Graham

Since March 1996, Ms. Graham has been the Managing Director of a Toronto-based consulting firm, which was incorporated in 2002 under the name IQ Alliance Inc. In this role, she has undertaken a wide variety of engagements on behalf of major corporate clients, including the delivery of real estate related financial advisory services. Ms. Graham is a member of the Board of Trustees of IPC US REIT and a member of the Board of Directors of the Canadian Urban Institute. Prior to March 1996, Ms. Graham held senior positions at CIBC and CIBC Wood Gundy Securities Inc. for 15 years, specializing in corporate finance and corporate lending to real estate and other companies. Ms. Graham holds a BS from Guelph University in Canada and an MBA from York University in Canada, and she is a Chartered Accountant.

Harald Hansen

Since 1999, Mr. Hansen has served as a director of several investment companies advised by Hyperion Brookfield and its affiliates. Mr. Hansen served as the Chief Executive Officer of First Union National of Georgia since 1987 and Chairman of the Board starting in 1989 until his retirement in 1996. Mr. Hansen also has served as the Executive Vice President in charge of the General Banking Group of First National Bank of Georgia. He serves on the Boards of Directors of Georgia Commerce Bank, the Atlanta Symphony, Midtown Alliance and the U.S. Disabled Athletes Fund as well as Magnet Communication Inc. and Wachovia Corp. Mr. Hansen is a Trustee and Vice Chairman of the Board of Oglethorpe University and the President of the Board of Trustees of Ashville School and a Trustee of the Tull Foundation.

William Paulsen

Mr. Paulsen serves as a Trust Manager of Camden Properties, which is the successor company through merger of Summit Properties. He joined McGuire Properties in 1981 to establish an independent multi-family development company, which would eventually become known as Summit Properties. He was the CEO of Summit Properties from 1981 until his retirement in 2001. Mr. Paulsen is also active in Angel Investment and was the Founder of The Charleston Angel Partnership in Charleston, South Carolina. He also serves as a Trustee of the Asheville School in Asheville, North Carolina. In addition, he served on the UNC-CH Board of Visitors and on a North Carolina Economic Task Force charged with evaluating the long-term viability of the state's tax structure. Mr. Paulsen earned a BS and an MBA from the University of North Carolina at Chapel Hill.

Louis Salvatore

Since 2002, Mr. Salvatore has been the representative of the Board of Arthur Andersen LLP. Previously, Mr. Salvatore was the Managing Partner of Arthur Andersen's metropolitan New York offices, and he was the Northeast Region Managing Partner. Mr. Salvatore also was a member of the Board of Partners of Andersen Worldwide S.C., and he was interim Managing Partner and Chief Executive Officer of Andersen Worldwide. Mr. Salvatore serves on the Boards of Directors of Professional Services Insurance Company Ltd. and Jackson Hewitt Tax Service Inc. and several investment companies advised by Hyperion Brookfield. Mr. Salvatore has been designated by the Board as a "financial expert". Mr. Salvatore is a Certified Public Accountant.