James Fitzpatrick The founding principal of Princeton Capital Management, is the senior investment manager and is the Chief Investment Officer of the YES (Young Enterprise Shares) program. Jim has a long, rich history of investment management with a number of major firms. Prior to founding PCM, Jim served as Director of Investments for the YMCA Retirement Fund and also served as an advisor to several Venture Capital Partnerships.

Matthew J. Mancuso Before joining Princeton Capital Management, in 1996, Matt was a Partner and Director of Bear Stearns & Co. Positions held at Bear Stearns included successively; Product Manager for Mortgage Sales, Manager of Domestic Taxable Fixed-Income Sales, Manager of Global Taxable Fixed-Income sales and Marketing and ultimately the Head of all Taxable Fixed-Income sales. Matt has been a shareholder of PCM during the past four years.

Joseph M. Evans, Jr. founded Ashmead Associates, an independent Investment Advisor which recently combined with PCM. Joe has managed investment portfolios for individuals, endowments and institutions at Ashmead since 1991. Before forming Ashmead, Joe Evans was a founder of Evans & Moxon Capital Management, Vice President of Alliance Capital Management and President of the Alliance Bond Fund, Inc. He is also a director of PQ Corporation, a $ 400 million inorganic chemicals manufacturer in Valley Forge, Pa.. and Germantown Friends School of Philadelphia, PA.

William H. B. Hamill has been a Managing Director of PCM since 1991. Bill's prior experience includes Executive Vice President of Dresdner and Company an investment advisor, Chairman and Chief Executive Officer of Marion Manufacturing Company, director and a member of the Executive Committee of Shaw Industries and is currently chairman of Denby Associates. He also serves as a Board member of Turner Halsey Company and Erwin-Lambeth Company.

Alfred R. Berkeley, III has been a director of Princeton Capital Management since1990, and presently serves as Chairman of PCM. He is also currently the President of the NASDAQ Stock Market Inc. Prior to his affiliation with PCM, Al was involved in the formulation of the highly successful technology effort at Alex Brown & Sons including senior positions in research, investment banking and M&A. He has served on the board of directors of such companies as: Cognos, Inc. ,CompuCom Systems, Computer Language Research, Comshare,Inc.,IMNET Systems ,Inc. and Safeguard Scientific.

Joseph M. Self has been a Vice President and Director of Princeton Capital Management since 1988. In addition, Joe founded and currently manages Seawoulfe Partners, Inc., an investment banking firm specializing in middle market mergers. Joe has been in the investment research and management business continuously since 1959, holding investment positions with Union Service Corp. and National Investors Corp. as well as investment and banking positions with Morgan Stanley & Co. He was also a director and founder of Wm. Sword & Co.

John L. Kidde has been a Director of PCM and the president and founder of KDM Development Corporation, a private investment management company. Mr. Kidde spent some thirty years in various managerial and operations positions with Kidde, Inc. until 1988 when the company was sold. At the time of sale, John was Vice President and director of International Operations. Since the late 1970s, John has been actively involved with a number of investment management companies such as Auatralasia, Inc., Asset Management Advisors, Inc., NBI Vermogensplanning and Pax World Growth Fund.

Ann W. Elmes has been an Executive Director, Secretary and Treasurer of Princeton Capital Management since 1988. Ann is responsible for all operations and administrative functions of the firm. Prior to joining PCM Ann was employed as the financial manager of the Nassau Presbyterian Church in Princeton, NJ.

Walter E. Dunsby has spent his entire thirty-four year career as an investor and as a trader in the securities industry, primarily involved with fixed income securities. Since 1986, he has managed client accounts, in addition to his own capital. From 1978 to 1986 he was a partner in Dunsby, Ladone Company, a government bond trading firm. From 1971 to 1978, he was a founder and partner of Printon, Kane & Co. a full service broker/dealer, where he was a trader and salesman of government and corporate bonds, as well as equities.

John H. Flahive joined Ashmead Associates in 1996 after spending the prior 24 years in institutional sales and investment research at McDonald & Co., at Donaldson, Lufkin & Jenrette, and for the past 10 years at Furman, Selz & Co., where he was a Managing Director of that firm. His experience also includes working in the finance department of GAC Corporation, the Research and Portfolio Management Department of the Fiduciary Trust Company of New York and the Investment Advisory Department of Spencer, Trask & Co.

Robert J. Scholz joined Ashmead Associates in 1995, having previously been associated with Merrill, Lynch & Co. as a Senior Investment Accountant, where he worked with private investment portfolios. He also had experience with SEI Financial Management Corporation in their mutual fund complex, where he gained broad experience in fund accounting, trading, mutual fund and custodian operation. In addition to similar operating responsibilities with Ashmead, "RJ" is active in our investment research effort, with a particular focus on the healthcare industries.