Michael Keppler, New York, USA

Keppler Asset Management Inc. is investment advisor to institutional investors and helps manage 10 global/regional equity public mutual funds and one private placement. Since 1994, funds advised by Keppler have won eight Standard & Poor’s Micropal performance awards.

Previously, Keppler worked in various capacities in the securities business with Commerzbank AG, one of the largest German banks in both Frankfurt and New York. Between 1983 and 1985, he received special training at leading New York investment banks, i.e. Morgan Stanley and Donaldson, Lufkin & Jenrette. From 1987 through 1992, he headed the Global Investment Strategy, Portfolio Management and Institutional Sales Departments of Commerzbank Capital Markets Corp., a New York investment bank, as First Vice President. Michael Keppler, who holds an MBA from the University of Regensburg, has been an active contributor to numerous investment conferences. He has coauthored a book on Emerging Markets and published in leading investment journals both in the United States and in Germany.

International Investment Services

President, Keppler Asset Management, Inc., New York, an SEC-registered investment management and advisory firm founded in 1992. The firm specializes in the develop-ment of value-oriented integrated portfolio approaches which focus on sophisticated asset allocation as well as market, sector, and stock selection strategies designed to exploit market inefficiencies in order to achieve above-average investment returns, while allowing for effective risk management through the implementation of the margin-of-safety concept and inter-national diversification.

International Investment Contact

Keppler Asset Management, Inc.

350 West 57th Street

New York, NY 10019

Tel.: +1-212-245-0239

Fax: +1-212-262-8150

kamfunds@nyc.rr.com

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