Board of Directors

PAUL G. DIETRICH
Chairman
Paul Dietrich is the Chairman of FOXHALL CAPITAL MANAGEMENT, Inc. He is also the principal mutual fund manager of the Shepherd Large Cap Growth Fund (formerly the Dominion Insight Growth Fund) (NASDAQ: DOIGX). Previously, he was the Founder of Meridian Emerging Markets, Ltd., a leading provider of global emerging markets company financial information. With offices in New York, Boston, London and Princeton, Meridian collected, compiled, and distributed fundamental financial data on all of the largest publicly traded companies in over 56 emerging markets. Mr. Dietrich has also been an investment adviser to a Bermuda-based,offshore investment fund. He is an international corporate attorney and was formerly associated with two Washington, DC law firms, Squire, Sanders & Dempsey, and Jones, Day, Reavis & Pogue. Before entering the practice of law, he served as Publisher and Editor in Chief of SATURDAY REVIEW, one of the United States' oldest cultural magazines. As an attorney, he has been an advisor on privatization and economic development issues to the Czech government, as well as several governments in Asia and the former Soviet Union. Mr. Dietrich has been a frequent contributor to the editorial pages of the WALL STREET JOURNAL, the LONDON TIMES and the INTERNATIONAL HERALD TRIBUNE. From 1994 to 1997, he was editor of both the REUTERS EMERGING MARKETS GUIDE and the REUTERS ASIAN STOCK SOURCEBOOK. He is also President of the Institute for International Health and Development (founded in 1982 by Nobel Peace Prize Laureate, David Morse). He has served as a member of the Board of Trustees of the Catholic University of America in Washington, DC, was a member of the National Advisory Board of Harvard University’s School of Public Health’s AIDS Institute, a member of the Advisory Group on International Health Systems Assessment of the New York Academy of Sciences, and is currently a member of the Advisory Board to the John Templeton Foundation. He has also served as a member of the Development Committee of the Pan American Health Organization (PAHO), and as a member of the Board of Directors of the U.S. Congressional Human Rights Foundation and the American-European Community Association. Mr. Dietrich is the editor of the award-winning book, A GUIDE TO AMERICAN FOREIGN POLICY.

HUGH A. JOHNSON
DIRECTOR
Hugh A. Johnson serves as the Chairman of First Albany Corporation, the New York Stock Exchange member-firm headquartered in Albany, New York, with over 125,000 clients with $13.7 billion in assets. He also serves as the Chief Investment Officer and President of Johnson Illington Advisors, LLC. In that capacity, he manages over $600 million of equity, fixed income and cash investments for individual and institutional clients and serves as a consultant to over $900 million in institutional assets. Hugh Johnson's investment analysis appears regularly in the NEW YORK TIMES, USA TODAY, BARRON'S, BUSINESS WEEK, and other leading newspapers and periodicals around the world. He is a regular guest on CNBC, CNN and BLOOMBERG TV, and has been a special guest on "WALL STREET WEEK WITH LOUIS RUYKEYSER." His comments can be heard regularly on NATIONAL PUBLIC RADIO, CBS, USA TODAY RADIO and other radio networks. He has been a guest on all of the major television network news programs as an investment consultant/analyst. He serves as an economic advisor to the Chairman of the New York State Assembly Committee on Ways and Means and is Vice Chairman and Director of New York Business Development Corporation. Hugh received a B.A. from Dartmouth College, an M.A. from Southern Methodist University, and has recently been awarded the degree of Honorary Doctor of Humane Letters.

AUGUSTUS C. "GUS" MILLER
DIRECTOR

Gus Miller currently serves as the Chairman and CEO of Miller Oil Co., Inc., which he founded in 1977. Mr. Miller has been appointed as a National Board Member of the Smithsonian Institution, Washington DC. He also serves as Chairman of the Board of the Chrysler Museum. He is a member of the Board of Trustees of the Old Dominion University Real Estate Foundation and serves as a Director of the Towne Bank. Gus served as a past board member of the Advisory Board of Mobil Corporation and past board member of the Advisory Board of Amoco Corporation and Branch Chairman for Exxon Co., USA.

GERALD P. MCBRIDE
DIRECTOR
Gerald McBride was an Executive Vice President and Head of the Tax Exempt Division of Prudential Securities Incorporated. Mr. McBride served as the President of Prudential Securities Program Services Inc., a wholly owned subsidiary of Prudential Securities, and also a member of the firm's Operating Council. Mr. McBride has nearly 30 years of experience in the municipal and public finance industries. He has held senior positions with Prudential Securities, the national Association of Securities Dealers (NASD), and the Public Securities Association. Mr. McBride has also served as advisor to the National State Auditors, Comptrollers and Treasurers and their State and Local Government Secondary Market Disclosure Advisor Board. He has also served on the U.S. Senate Private Sector Advisory Panel on Infrastructure Financing and was a member of the Securities Industry Association Municipal Finance Committee. He was a former Governor and Treasurer of the Municipal Bond Club of Philadelphia and was a member of the Municipal Bond Club of New York and the Municipal Forum of New York.

DR. THEODORE ROOSEVELT MALLOCH
DIRECTOR
Theodore Roosevelt Malloch, PhD. is Chairman and Chief Executive Officer of The Roosevelt Group, a leading strategic conference management group that plans and hosts executive conferences for major companies. He is a former Vice President of the Aspen Institute and was on the executive committee of the World Economic Forum that hosts the famous Davos meetings in Switzerland each year for top corporate executives and government officials. He was also an investment banker at Salomon Brothers and he currently sits on the board of Yale Divinity School and is cochair of the State of Maryland's CITEC, Information Technology Board.

RICHARD G. ORNSTEIN
DIRECTOR
Richard Ornstein is one of the founding partners of Waterside Capital Corporation, federally charted as an SBIC in 1993. Waterside Capital was taken public in 1997 and is currently a $60,000,000 fund with 21 ventures to date. He is on the Board of Directors and also serves on the Executive Committee, which analyzes and approves all investments made by the company. WSCC is headquartered in Norfolk, VA, with offices in Richmond, VA and Charlotte, NC. Mr. Ornstein is also currently involved with several real estate ventures: 81st Partnership (since 1986); National Assisted Living, LLC (since 1996); and Southpark Lofts, LLC (since 2000). Past endeavors have included Managing General Partner of Mountain Trace Association (1988-1997); President of the Vault Company and General Partner of The Vault Properties, Ltd. (1981-1985); Co-Developer of the Larz Anderson Townhouse Condominiums (1980-1981); Founder of the Roberts-Ornstein Company (1975-1980); Director of Development for Land/Vest, Inc. (1974-1975); and Vice President of Roberts-Rosenthal Associated (1971-1973); and Vice President of Yorkville Management Company and Ornstein Enterprises (1964-1971).

TOM KANE
DIRECTOR
Tom Kane is the president of M.O. Kane Properties in Chicago, Illinois. The company was established in 1842 and owns and manages $30 million in Chicago-based industrial and commercial properties. He is also the president of Kane Financial, an investment management firm established in 1928 and primarily oversees the investment management of his family’s trusts. He lives in Chicago, Illinois and Fort Lauderdale, Florida.

CHARLES H. MERRIMAN, III
DIRECTOR
Charles H. Merriman, III, retired at the close of 2001 from BB&T Capital Markets, a division of Scott & Stringfellow, Inc. which is owned by BB&T Corp. He joined Scott & Stringfellow in 1972 and served as Managing Director of that company's Corporate Finance Department until his retirement. Mr. Merriman received a Bachelor of Arts degree in Economics from the University of Virginia in 1956 and subsequently a MBA from UVA's Colgate Darden Graduate School of Business Administration. He is a Director of Waterside Capital Company, a federally licensed, small business investment company. Mr. Merriman is also a Director of U.S. NeuroSurgical, Inc., which operates two Gamma Knife surgery clinics, and is Chairman of the Board of Directors of The Trust Company of Virginia, a wealth management business that provides investment and trust services.

JOHN W. FAILES
CPA, DIRECTOR
John W. Failes is a Certified Public Accountant. He holds degrees in finance and in accounting from Virginia Polytechnic Institute & State University. He founded Failes & Associates, P.C. in 1983, and recently led the firm through a merger with Cherry, Bekaert & Holland L.L.P. A graduate of Lehigh University, Mr. Failes is a member of the American Institute of Certified Public Accountants and the Virginia Society of Certified Public Accountants. Mr. Failes has served on or is currently serving on the Boards of Directors for the Hampton Roads Chamber of Commerce, Towne Bank, Princess Anne Bank, the Virginia Tech School of Business (Accounting Department), Virginia Tech Student Aid Foundation, the Portsmouth Assembly, Commonwealth College, and the Old Dominion University School of Business Accounting Department.