William F. Coughlin

WILLIAM F. COUGHLIN is Managing Partner of Delta Capital Management,
LLC. He has served as a Portfolio Manager and a member of the Investment
Committee since 1988. Prior to joining the firm, Mr. Coughlin was
Managing Director at Scudder Kemper Investments, and its predecessor
firm, Dreman Value Advisors. He spent seven years working for NYNEX
Corporation. Mr. Coughlin earned a BS degree in 1978 and an MBA in1979
from Babson College. He is a Chartered Financial Analyst, a member of
the New York Society of Security Analysts and served on its membership
committee. Mr. Coughlin has made numerous speeches and presentations
throughout the world on investments in cities such as Moscow, Vancouver
and Zurich.