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Contact: cshepherd@alexandersecurities.com       Christopher Shepherd, Director Tel: +44 20 3008 5972 Fax: +44 20 3008 5974 email: cshepherd@alexandersecurities.com   Chris Shepherd has worked in the securities industry since 1984, initially working as floor manager of the Lazard financial futures operations in London before joining the newly established Lazard Capital Markets Group in 1985 where he held a sales/trader role in a range of high yielding products including the US high yield markets. Appointed Partner in 1986, Chris worked with the same team after they moved to BNP before they established a hedge fund, Park Place Capital, where Chris was Investment Director. Looking to expand his knowledge of the emerging markets, Chris moved to ANZ Investment Bank where he was a Director of Corporate Finance, heading up the M&A cross border activities for South East Asia and Pakistan. In 2000 Chris returned to the high yield markets utilising his knowledge of the Asian markets and with BNP Paribas developed a distressed debt trading business. In 2003 Chris joined up with Giles Hosking to establish an independent, European distressed debt trading business with Maxcor Financial Group before moving to Alexander Securities in 2005. Giles Hosking, Director Tel: +44 20 3008 5971 Fax: +44 20 3008 5974 email: ghosking@alexandersecurities.com   Giles Hosking began his career in 1988 at Ernst & Young International where he qualified as a Chartered Accountant. In 1992 he joined UBK Asset Management working as an investment analyst and then portfolio manager within the High Yield Investment Group. At the end of 1996 Giles moved to Greenwich NatWest as a Director, managing a proprietary trading book that focused on illiquid and distressed credit opportunities. After leaving Greenwich NatWest at the beginning of 1999 Giles spent 4 years at Barclays Capital as Director in the High Yield Group, helping to develop a European sales and trading platform. In 2003 Giles moved to Maxcor Financial Group in London where with Chris Shepherd he established an independent, European distressed debt trading business before moving to Alexander Securities in 2005. Alexander Securities Limited 353 Strand London WC2R 0QS Telephone: 020 3008 5972 Fax:           020 3008 5974

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