Alan W. Kral

A Portfolio Manager with extensive experience in both fixed income and
equity management, ALAN W. KRAL joined Trevor Stewart Burton & Jacobsen,
Inc. in 1991. He is a Principal of the firm and a member of the
Investment Committee. Most recently, Mr. Kral had been a Vice President
and Fixed Income Portfolio Manager with Mitchell Hutchins Institutional
Investors. From 1983 through 1988, he was the Principal of his own firm,
Madison Park Investment Management, which was acquired by Ocwen
Financial Corporation. He was a Vice-President and an Asset and
Liability Specialist for Oewen until 1990. Mr. Kral is a graduate of St.
Mary’s College in Minneapolis with a B.A. degree in Physics and holds an
M.B.A. degree in Finance from the University of Minnesota. He became a
Chartered Financial Analyst in 1978.