BOARD OF DIRECTORS AND SUPERVISORY BOARD

	Ing. Tomáš Strnad, MBA Member of the Board of Directors and Partner
	During the years 1997-2003, he worked at Citigroup, where as a member of the Board of Directors of Citicorp investiční společnost, a.s. served as portfolio manager. In 1998 he took over the leadership of the company and remained in the post of its director until the end of 2003. Thanks to its results, the company earned a very good reputation among clients and received the Signum Temporis Paegas award for the 2001 Best Equity Fund in the Czech Republic. In 1995-1996, he served as the director of the mutual funds management department at Spořitelní investiční společnost, a.s. At this company he also held the post of Senior Portfolio Manager and had a significant share in the implementation of the Sporoinvest project, which has become the country’s largest mutual fund. In 1991-1995, he was a broker and later the head of the department of securities trading at Česká spořitelna, a.s. He also participated in the preparation and implementation of the privatization fund for the first wave of voucher privatization, the implementation and development of the system of securities portfolio management and the establishment of the department of asset management of the bank’s clients. Tomáš Strnad gained his professional experience, inter alia, on the London Stock Exchange and with Salomon Brothers in New York. He graduated from the University of Economics in Prague and received his MBA from Barrington University in the United States. He also completed an educational and training programme at the New York Institute of Finance.
	Ing. Štěpán Lacina Chairman of the Board of Directors and Partner
	During the years 2001-2003, he held the position of Director of the Division of Private Banking at Citibank, a.s. In the context of the entry of the retail section of Citibank into the Czech market, he was responsible for the implementation of the CitiGold Wealth Management project, which provided a complete range of services and products for the most important private clients. He was also in charge of the management of the private banking centres in Prague, Brno and Ostrava. He significantly contributed to the preparation and marketing implementation of Citibank’s investment products in the Czech Republic, in particular third-party mutual funds and guaranteed investment products. Within the scope of Citibank, he worked as the internal trainer of investment training programmes for Central and Eastern Europe, the Middle East and Russia. In 1997-2001, he worked with Citicorp investiční společnost, a.s., where he was responsible for the marketing and sales of investment products and internal audit. As a member of the Legislative Commission, he took an active part in the preparation of investment standards for the Securities Commission and the Union of Investment Companies. Štěpán Lacina graduated from the University of Economics in Prague and studied at the Business College of Colorado State University, USA. He successfully completed the educational and training programmes Financial Derivatives and Portfolio Management in Prague and Investment Management in London. He is a certified Citibank Investment Trainer and licensed Citibank Investment Adviser.
	Ing. Tomáš Krsička, CFA Member of the Board of Directors and Partner
	During the years 1997-2003, Tomáš Krsička worked at Citigroup. First, as a financial analyst at Citicorp investiční společnost, a.s., where he monitored selected sectors of the Czech economy and prepared fundamental and credit analyses of major companies. Beginning in 2000, he was a portfolio manager at Citicorp investiční společnost, a.s., where he managed mutual funds and portfolios of pension funds. At the same time, he managed and coordinated activities of the analytical team of Citigroup Asset Management in Prague. Starting in 2001, he served as the main portfolio manager at Citibank a.s., where he managed individual accounts of major companies in the financial sector and government institutions. In 1996-1997, he worked as a financial analyst at Česko-kalifornská investiční společnost, a.s., where he also actively participated in investment banking projects. In 2000 Tomáš Krsička received the CFA charter (Chartered Financial Analyst) from the CFA Institute. Tomáš Krsička graduated with honors from the University of Economics in Prague and holds a brokerage licence. He is a founding member of the Czech Association of Investment Professionals, which is a member of the CFA Institute.
	Tomáš A. Matějovský Chairman of the Supervisory Board
	Tomáš A. Matějovský is responsible for strategy and relations with banks and business partners at Accredio a.s. in Switzerland, where he resides and takes care of client issues. At present, he works as an independent consultant for the Swiss private bank E. Gutzwiller & Cie., Banquiers, Basel and as a consultant for his own firm TAM Consulting. In 1983, he founded Gutzwiller & Partner Ltd. in Zurich, which specializes in portfolio management and private banking for one of the oldest private banks in Switzerland, E. Gutzwiller & CIE., Banquiers, Basel. He became its CEO and a (B) banking license holder. From 1992, when he had purchased the company through Management-Buy-Out together with other partners, he was its majority shareholder, board member and managing director. After the sale of his majority stake in Gutzwiller & Partners Ltd. in 1996 to Rabobank (Schweiz) AG, Zurich, he remained until the end of 1999 as a member of the board of directors and later became its private consultant. In 1980-1983, he founded and led the portfolio management department at Ueberseebank AG in Zurich (now AIG Private Bank). Starting in 1972, he worked on the Zurich exchange for Private Bank & Trust Co. Ltd., Zurich. Tomáš A. Matějovský studied at the University of Economics in Prague and the University of Zurich.
	Mgr. Naďa Priečinská Member of the Supervisory Board
	Naďa Priečinská is active in commercial and civil laws (administration of contracts, legal analyses, corporate law, law of bills and notes, cheque law, real-estate law, contracts and litigations). The portfolio of her clients includes, inter alia, a factoring company and a major advertising agency. She studied at the Law Faculty of Charles University, Prague in 1992-1997. In the same period, she underwent a six-month internship at the law office Horák-Chvosta-Vích. She worked as an articled law clerk in 1997-2000 and successfully passed the bar examination in 2000. Since 2001, she has had her own law practice. The pivotal year in her career came in 2003 when she and her colleague Peter Hanyk established their own law firm, AK Priečinská-Hanyk. Ms. Priečinská speaks fluent English, Slovak and Russian. She has served for several years as a member of the Supervisory Board of Accredio, a.s.