EXECUTIVE MANAGEMENT

Steven Insalaco has more than twenty-five years of business experience. This includes various corporate finance, capital market and management positions with Bank of America, Chemical Bank and Manufacturers Hanover Trust Corporation (currently, J.P. Morgan Chase & Co.), Wood Gundy Corp (currently, Canadian Imperial Bank for Commerce or CIBC) and the City of New York.

In these positions he served as District Manager, Vice President and Director of Financial Operations. The corporate finance and capital market finance positions included Eastern Region and Mid-Atlantic area management for "Money Center" banks. Some responsibilities associated with these positions encompassed the following:

• Identifying and transacting business with new and existing institutional clients
• Addressing institutional client-fixed income portfolio requirements
• Training of staff and developing marketing plans
• Originating, pricing, structuring and closing leveraged (debt and equity) and single investor tax and finance lease and senior debt transactions for Fortune 500 and other public and private companies.

Mr. Insalaco also was responsible for managing a healthcare division with seven departments and 200 employees. The position encompassed the financial control function and annual disbursement of more than $3 billion to providers of healthcare services.

Since 1988, Steven Insalaco has been President of Calgary Enterprises, Inc.

Steven Insalaco holds a Bachelor of Arts, an MBA in Financial Management and was in the U.S. Army with a top-secret security clearance serving in a Military Intelligence unit.