John J. Geewax

JOHN J. GEEWAX is Portfolio Manager for the NOAH FUND and has been
responsible, as a General Partner of Geewax, Terker & Co., for the day-
to-day recommendations for the NOAH FUND since January 1998. Mr. Geewax
earned his Bachelor of Science degree, his MBA and completed his PhD
coursework at the University of Pennsylvania. From 1979 to 1983, he
taught at the University of Pennsylvania’s Wharton School, where he,
together with his partner Bruce Terker, developed the investment
strategy utilized. Geewax, Terker & Co. was established as a
Pennsylvania partnership in 1982 and is registered as an investment
adviser under the Investment Advisers Act of 1940, as amended. Geewax,
Terker & Co. currently serves as investment adviser to over $3.7 billion
in assets as of March 31, 2004. Geewax, Terker & Co. operates as an
investment advisory firm and has been rendering investment counsel,
utilizing investment strategies substantially similar to that of the
NOAH FUND, to individuals, pension and profit sharing plans, trusts,
estates, charitable organizations and corporations since 1987.