LightPoint Capital Management LLC

Thomas A. Kramer, Managing Director

Thomas A. Kramer is the Managing Director with overall executive responsibility for the Collateral Manager. Mr. Kramer has over 20 years of experience in the corporate and leveraged credit markets, the last 17 of which have been dedicated exclusively to leveraged finance. He has extensive knowledge of the leveraged loan asset class with particular strengths in structuring, underwriting and negotiation.

Prior to forming LightPoint Capital Management, Mr. Kramer was Managing Director and U.S. Head of North American Leveraged Finance for ABN AMRO overseeing a team of 20 professionals in the origination, underwriting and ongoing management of the bank’s leveraged loan portfolio. Prior to his appointment as U.S. Head in January 2001, Mr. Kramer was a Senior Transactor and Team Leader (1996-2000) responsible for transactions supporting the Consumer Products, General Industrial and Transportation Industry Groups. During 1995 and 1996, Mr. Kramer was a Senior Vice President and Team Leader at GE Capital responsible for a leveraged finance team of five professionals that covered clients which were both industry and geographically diversified. From 1988-1995, Mr. Kramer held increasingly responsible positions in the Leveraged Finance Group of the First National Bank of Chicago culminating in a Senior Transactor role. During 1991 and 1992, he had the additional joint responsibility for restructuring and selling investments within the bank’s shuttered mezzanine operation giving him extensive experience in intercreditor rights and negotiations as they relate to the senior secured loan asset class. From 1993-1995 Mr. Kramer lead the initiative to establish a middle market leveraged finance operation that became a leading contributor to the overall group’s profitability.

Mr. Kramer holds a B.A. in Economics from Marquette University and a M.B.A. in Finance and Management from the J.L. Kellogg Graduate School of Management at Northwestern University.

Timothy S. Van Kirk

Timothy S. Van Kirk is a Managing Director for LightPoint Capital Management. He has over 16 years experience in the leveraged finance markets with three major US and European financial institutions. During this period, his responsibilities included analysis, structuring, portfolio management, documentation, and syndication of highly leveraged loans.

Prior to joining LightPoint Capital Management, Mr. Van Kirk was a Group Vice President/Director in ABN AMRO's Leveraged Finance Group responsible for monitoring the $5 billion portfolio of U.S. leveraged loans at ABN AMRO. He also headed up the department's Leveraged Loan Participation Group. Additionally, he was a Senior Transactor, responsible for transactions supporting the Diversified Industries Group. Prior to joining ABN AMRO, Mr. Van Kirk was a Vice President of Underwriting and Portfolio at GE Capital (1995 – 1997) where his responsibilities included the management of a $400 million portfolio of highly leveraged transactions as well as underwriting, documenting and syndicating new transactions. Mr. Van Kirk’s responsibilities included leadership roles in several significant restructuring and amendments within the portfolio. Prior to GE Capital, Mr. Van Kirk spent seven years (1988 – 1995) in the Leveraged Finance Group at First National Bank of Chicago analyzing, underwriting, documenting and syndicating complex and leveraged transactions. He started his career with Price Waterhouse, in auditing.

Mr. Van Kirk has been an instructor at the Amsterdam Institute of Finance. He has assisted in structuring and teaching the Leveraged Acquisition Finance Course, most recently in May of 2001. The course focuses on the structuring, analysis and market conditions of the leveraged finance industry.

Mr. Van Kirk holds a B.A. in accounting from the University of Notre Dame, a CPA certificate, and a M.B.A. in Finance and Management from Northwestern University. He holds a Series 7 license.

Martin J. Mulroe, Managing Director

Martin J. Mulroe is a Managing Director for LightPoint Capital Management. He is responsible for designing, implementing and managing the technology solutions to support LightPoint’s critical information needs. His specific responsibilities include :

Implementation and management of business software applications to model, manage and analyze LightPoint’s portfolio of assets
Implementation and management of systems to develop timely, insightful and accurate reporting information, including monthly reconciliation with Trustee and reports to shareholders
Design and development of LightPoint’s internet strategy
Implementation and Management of the company’s technical infrastructure (work stations, servers, LAN, internet)
Backup and disaster recovery planning and execution
Implementation and management of back office applications (e-mail, general accounting, etc.)

Mr. Mulroe has over 20 years of experience in planning, implementing and maintaining information systems.

Prior to joining LightPoint Capital Management, Mr. Mulroe was an Associate Partner at Accenture. He was a Director in the Enterprise Business Solutions Group from 1997 - 2001. He assisted many Fortune 500 companies in planning, designing and implementing their financial, order management and purchasing systems. The scope of his work included technical and application architecture design, development and implementation of software applications and ongoing management of business systems. Mr. Mulroe was a Manager in the Industrial and Consumer Products Group of Accenture from 1989 - 1996. He served as a project manager, assisting companies with reengineering their business processes and planning, designing and implementing mission critical business solutions.

Mr. Mulroe holds a B.S. in Mathematics and Computer Science and a M.B.A. in Accounting and Production Control from Loyola University of Chicago.

Joseph P. Lynch, Director

Mr. Lynch has over 9 years of corporate banking, financial analysis and leveraged loan experience. During his career, he has developed and honed his strong analytical skills and industry knowledge through extensive deal experience.

Prior to joining the LightPoint Capital Management, Mr. Lynch was a Group Vice President/Director in ABN AMRO’s Leveraged Finance Group in Chicago. He joined the Leveraged Finance Group of ABN AMRO in January of 1998 where his primary responsibilities included structuring, underwriting and executing leveraged bank and capital market financings for clients who were contemplating acquisitions, mergers, leveraged recapitalizations, spin-offs, and leveraged buyouts. Mr. Lynch was also responsible for the analysis of non-investment grade transactions and preparation of written recommendations regarding prospective assets for the bank’s leveraged loan portfolio. These responsibilities included valuation, cash flow modeling, and various industry, economic and capital markets analyses. He has focused on the Consumer Product, General Industrial and Transportation Industries. During his tenor in the Leveraged Finance Group, Mr. Lynch has reviewed in excess of two hundred leveraged transactions, committing to more than fifty of these opportunities which in total represented $10 plus billion of commitments by the bank. He worked on several high profile transactions where ABN AMRO committed in excess of $1 billion. Upon completing the Management Associate and Credit Training Programs, Mr. Lynch began in the Chicago Branch of ABN AMRO first as an analyst, and later as a Relationship Manager calling on large corporate clients in the Midwest.

Mr. Lynch has been an instructor at the Amsterdam Institute of Finance. He has assisted in teaching the Leveraged Acquisition Finance Course, most recently in May of 2001. The course focuses on the structuring, analysis and market conditions of the leveraged finance industry.

Mr. Lynch earned his B.S. in Finance from the College of Commerce and Business Administration at the University of Illinois at Urbana-Champaign and his M.B.A. from DePaul University's Kellstadt School of Business. He also holds the Series 7 and 63 licenses.

Stephen J. Casey, CFA

Prior to joining LightPoint Capital Management, Mr. Casey was a Group Vice President/Director in ABN AMRO's Leveraged Finance Group where he has gained extensive experience in analyzing, structuring and underwriting leveraged loans.

While at ABN AMRO, Mr. Casey’s responsibilities included the presentation of debt capital structure analysis to the banks leveraged corporate clients (typically in support of mergers, acquisitions, or recapitalizations), and the presentation of Term Sheets outlining details of market clearing structures and prices. Additionally, Mr. Casey has an extensive background in working with internal industry groups in identifying and analyzing corporate finance opportunities for both existing and prospective bank customers. Mr. Casey has strong knowledge of the primary rating agency analysis framework having assisted bank clients during the ratings process.

Mr. Casey started with ABN AMRO's Leveraged Finance Group in August, 1997 as a Credit Analyst. Upon completion of ABN AMRO’s Credit Analyst Program, he focused his time on leveraged participation investments into ABN AMRO’s Leveraged Loan Portfolio. During this time he gained considerable knowledge of the Chemicals, Technology and General Industrial sectors. Mr. Casey has analyzed in excess of 200 transactions, most of which were in the above sectors. His strong analytic and underwriting skills gained him a promotion to a more senior position where he led a team responsible for participation commitments.

Mr. Casey has been an instructor at the Amsterdam Institute of Finance. He has assisted in teaching the Leveraged Acquisition Finance Course, most recently in September 2000. The course focuses on the structuring, analysis and market conditions of the leveraged finance industry.

Mr. Casey holds a B.S. in Finance from Indiana University and a M.S. in Financial Markets & Trading from the Illinois Institute of Technology. Additionally, he has completed the Chartered Financial Analyst Program and also holds a Series 7 & 63 license.

Colin Donlan

Mr. Donlan is responsible for administering the day to day details with regard to portfolio assets, portfolio cashflows and all portfolio reporting requirements. Mr. Donlan is also the primary contact with the Portfolio Trustee. Mr. Donlan has over 7 years of structured finance experience.

Prior to joining LightPoint Capital Management, Mr. Donlan was a Vice President in the Asset-Backed Securities Trust Services Group (ABSTS) at ABN AMRO, LaSalle Bank N.A. In his former position he managed the CDO Trust Services Group’s administration team. Mr. Donlan was responsible for overseeing the administration of CDO transactions.

Mr. Donlan joined the ABSTS group in November of 1996. During his tenure, he has administered and supervised both Collateral Agency and CMBS trustee engagements. He contributed to the development of the systems and procedures for the CDO product including the CDO web site and the CDO administrative and analytics system.

Mr. Donlan holds an M.B.A., with a concentration in Finance, from DePaul University and a B.A. in Economics from Denison University.

Joseph A. Schurer, Associate

Specializing in cashflow modeling and industry risk assessment, Mr. Schurer provides the necessary analytical support to the Directors and Portfolio Managers within LightPoint Capital Management.

Prior to joining LightPoint Capital Management, Mr. Schurer completed the LaSalle Bank Credit Training Program in March 2001, and immediately joined the Leveraged Finance Group of LaSalle Bank N.A.. At LaSalle Bank, Mr. Schurer’s responsibilities included in-depth company financial analyses, including peer company analysis, identification of trends, industry analysis and financial modeling to determine the credit worthiness of prospective clients.

Mr. Schurer earned his B.A. in Finance from Michigan State University in December 2000.