Speakers — New York 2006

William A. Ackman

is the managing member and general partner of Pershing Square, L.P. Prior to forming Pershing Square, he co-founded Gotham Partners, L.P. in 1993, a public and private equity investment partnership. Mr. Ackman earned an MBA from the Harvard Business School.

Bruce Berkowitz

is the Founder and Managing Member of Fairholme Capital Management. He was previously employed at Lehman Brothers and at Smith Barney Investment Advisers, where he was a managing director of Smith Barney Inc. Mr. Berkowitz is President and a Director of Fairholme Funds, Inc., an open-end management investment company. In addition, he is a Trustee of Winthrop Realty Trust, a Director of White Mountains Insurance Group, Ltd. and a Director of TAL International Group, Inc.

Thomas K. Brown

is the CEO of Second Curve Capital, a New York-based hedge fund that specializes in financial services companies. Prior to founding Second Curve in 2000, Brown was head of North American Financial Services Group for Tiger. Before that, he was Institutional Investor's top-ranked bank analyst on Wall Street nine times.

Christopher H. Browne

is a Managing Director of Tweedy, Browne Company, LLC. He is also President of the Tweedy, Browne mutual fund group. Browne is a graduate of the University of Pennsylvania where he serves as a Charter (Life) Trustee. Mr. Browne served on the faculty advisory committee of Harvard's John F. Kennedy School of Government program in Investment Decisions and Behavioral Finance. He is a trustee of The Rockefeller University and the author of The Little Book of Value Investing.

James S. Chanos

is founder of Kynikos Associates, the largest investment firm devoted exclusively to short selling. Throughout his career, he has shorted the shares of many corporate disasters. Barron's called his brilliant short of Enron "the market call of the decade, if not the past fifty years"

David Einhorn

is president of Greenlight Capital (a value-oriented investment advisor), believes an investment approach emphasizing intrinsic value will achieve consistent absolute investment returns and safeguard capital regardless of market conditions. He is a noted activist investor. Prior to founding Greenlight, he was at DLJ.

Kian Ghazi

is CFA, co-founded Hawkshaw Capital Management in 2002, where he is a Managing Partner and portfolio manager. Hawkshaw manages a concentrated, value-oriented, long/short investment partnership with a heavy emphasis on proprietary investigative research. Prior to co-founding Hawkshaw, Kian spent 5 years at Midtown Capital Partners, 3 years at Lehman Brothers and 2 years at Credit Suisse First Boston. He received his MBA from the Wharton School of Business.

Joel Greenblatt

is the founder of Gotham Capital, has one of the greatest investment track records ever, compounding at 40% annually for over 20 years. He is an Adjunct Professor at Columbia Business School, where he teaches "Value and Special Situation Investing", is the author of You Can Be a Stock Market Genius and The Little Book That Beats the Market, and is the founder of ValueInvestorsClub.com

Curtis Jensen

is Co-Chief Investment Officer of Third Avenue Management, manages the Third Avenue Small-Cap Value Fund and oversees the firm’s research effort. He received an MBA from Yale. Previously, Mr. Jensen held various corporate finance positions with Manufacturers Hanover Trust Company and Enright & Company, a private investment banking firm. He received a BA from Williams. Mr. Jensen received the prestigious Richard L. Rosenthal Award for Innovation in Investment Management / Corporate Finance.

Barry Minkow

made headlines at age 20, as the youngest person in United States business history to take a company public. His company, ZZZZ Best Co., which at one time had a market capitalization of $300 million, was a fraud. After its discovery, Mr. Minkow served seven years and four months in prison, but has since turned his life around. He is the pastor of the Community Bible Church, created the Fraud Discovery Institute, and speaks widely about frauds and how to avoid being victimized. Schemes that have impacted thousands of investors have been closed down because of the work Mr. Minkow provided to law enforcement agencies. In October 2005, the FBI sent Mr. Minkow an official commendation letter, thanking him for his work in triggering 13 separate investigations nationwide over the previous two years.

Mohnish Pabrai

is Managing Partner of Pabrai Investment Funds, a group of focused value funds. Since inception in 1999 with $1 million, Pabrai Funds has grown to over $300 million in assets under management. A $100,000 investment in Pabrai Funds at inception in 1999 would have been worth $539,900 as of Sept. 30, 2006, an annualized gain of 26.2% net to investors.

Guy Wyser-Pratte

is the Founder and President of Wyser-Pratte Management Co., Inc. During the course of his 40 year career, he has been a leading voice for shareholder activism. Since 1991 he has successfully completed more than 60 activist projects in 10 jurisdictions. In October 2005, he launched the Wyser-Pratte EuroValue fund.

Lisa Rapuano

is the Founder and Portfolio Manager of Lane Five Capital Management in Baltimore. She has 14 years of investment-management experience as an analyst, as sole manager of the $3.5 billion Legg Mason Special Investment Trust mutual fund, as a Director of Research, and as a long/short hedge fund manager at Matador Capital Management. As sole manager of the Legg Mason Special Investment Trust from 2001 - 2003, her cumulative returns ranked in the top 8% of mid-cap core mutual funds, according to Lipper. From late 1997 through 2000 she co-managed this fund with Bill Miller.

Larry Robbins

is the Founder, Portfolio Manager, and CEO of Glenview Capital Management. Glenview has more than $7B in assets under management split between the Glenview Funds (US long/short) and the Little Arbor Funds (diversified, multi-strategy). Prior to forming Glenview, Larry spent six years as an analyst and partner at Omega Advisors

Whitney R. Tilson

is the founder and Managing Partner of T2 Partners LLC, which manages three private investment partnerships and the Tilson Mutual Funds. He is Co-Editor-in-Chief of Value Investor Insight. Tilson has been a guest on Lou Dobbs Moneyline and Wall $treet Week, has been profiled by the Wall Street Journal and is a regular columnist for Financial Times. He is the co-founder and Chairman of the Value Investing Congress.

Glenn H. Tongue

is the Managing Partner of T2 Partners LLC and the Tilson Mutual Funds. Mr. Tongue spent 17 years on Wall Street, most recently as an investment banker at UBS, where he was a Managing Director and Head of Acquisition Finance. Before UBS, Mr. Tongue was at DLJ for 13 years, the last three of which he served as the President of NYSE-listed DLJdirect. Prior to that he was a Managing Director in the Investment Bank at DLJ, where he worked on over 100 transactions aggregating more than $40 billion.

Amit Wadhwaney

is portfolio manager of Third Avenue Global Value Fund, L.P., is a senior member of the investment team at Third Avenue International Value Fund. Previously, he was port-folio manager of the Carl Marks Global Value Fund, L.P., the predecessor to Third Avenue Global Value. Earlier in his career, Mr. Wadhwaney was a securities analyst, and subsequently Director of Research, for M.J. Whitman, Inc. He received an M.B.A. in Finance from the University of Chicago.