GEORGE P. FRAISE

Mr. Fraise is a member of Sustainable Growth Advisers' Investment Committee and Board of Directors. Prior to founding SGA, Mr. Fraise was Executive Vice President, a portfolio manager and a member of the Investment Policy Committee of Yeager, Wood & Marshall, Inc., a growth-oriented investment counseling firm he joined in 2000.

Previously, Mr. Fraise was a portfolio manager for Scudder Kemper Investments and also held senior analyst positions with Smith Barney and Chancellor Capital Management. He began his investment career in 1987 with Drexel Burnham Lambert. Mr. Fraise earned a B.A. from Trinity College and holds an M.B.A. in finance and international business from New York University.

GORDON M. MARCHAND

Mr. Marchand is a member of Sustainable Growth Advisers' Investment Committee and Board of Directors. Prior to founding SGA, Mr. Marchand was an officer, director and a member of the Investment Policy Committee of Yeager, Wood & Marshall, Inc., an investment firm he joined in 1984.

Earlier in his career, Mr. Marchand was with the management consulting service group at Price Waterhouse and was a CPA with Grant Thornton International. Mr. Marchand is a Chartered Financial Analyst and Chartered Investment Counselor. He earned a B.A. from Georgetown University, holds an M.B.A. from the University of Massachusetts and completed a graduate study program at Oxford University.

ROBERT L. ROHN

Mr. Rohn is a member of Sustainable Growth Advisers' Investment Committee and Board of Directors. Prior to founding SGA, Mr. Rohn managed large-capitalization, high-quality growth stock portfolios at W.P. Stewart & Co., where he was an analyst and portfolio manager. He also held the position of Chief Executive Officer of W.P. Stewart Inc., the company's core U.S. investment business, and served as Chairman of the firm's Management Committee.

From 1988 through 1991, Mr. Rohn was with Yeager, Wood & Marshall, Inc., where he served as Vice President and a member of the Investment Policy Committee. He began his career in 1983 at Morgan Guarantee Trust Company. Mr. Rohn holds a B.A. from Dartmouth College and an M.B.A. from Harvard Business School.

Research Principals

ALEXANDRA S. LEE, MD

Alexandra Lee is a Research Principal and a member of the Investment Committee. Prior to joining Sustainable Growth Advisers, Alexandra was an Associate Director and an equity analyst at Bear Stearns, where she was responsible for coverage of large-cap biotechnology companies and served as a member of the firm's global healthcare research team. Previously, she was an equity research analyst at JP Morgan and a management consultant at the Boston Consulting Group. She began her career as a medical doctor at Yonsei University Medical Center, a leading university hospital in Korea. Alexandra has an MD from Yonsei University and an M.B.A. from Harvard Business School.

KISHORE RAO

Kishore Rao is a Research Principal and a member of the Investment Committee. Prior to joining Sustainable Growth Advisers, Kishore was a member of the investment team at Trident Capital, a venture capital firm managing a portfolio of software, technology and business service companies. He was also a Founder and General Manager of the Street Events division of CCBN, which was a Trident Capital portfolio company before it was sold to Thomson Financial. Previously, Kishore was an investment analyst at Tiger Management and Wellington, following healthcare services, software and semiconductor equipment companies. He was formerly a strategy consultant at Braxton Associates. Kishore has a B.S. in Industrial Management from Carnegie Mellon University and an M.B.A. from Harvard Business School.

M. TUCKER BROWN

Tucker Brown is a Research Principal and a member of the Investment Committee. Prior to joining Sustainable Growth Advisers, Tucker was a Vice President in the Equity Research Department of Goldman Sachs, where he served as a member of the firm's U.S. packaged food research team. Previously, Tucker worked as an investment banker at Goldman Sachs, covering companies in the retail, technology and general industrial sectors. He was formerly a fund accountant and custody manager at Brown Brothers Harriman &Co. Tucker has a B.A. in Economics from Bucknell University and an M.B.A. from The Wharton School.

Research Analysts

PETER MADEJ

Peter is a Research Analyst and a member of the Investment Committee. He is responsible for obtaining and disseminating relevant information on companies of interest from a wide variety of sources, as well as supporting SGA's valuation model and related spreadsheets. In addition, Peter is involved in assisting with the firm's marketing function. Prior to joining SGA, Peter was Vice President of Client Services at Valenzuela Capital Partners LLC, where he directed the client servicing effort. From 1992 to 2001 Peter was a Senior Marketing Associate at Avatar Investors Associates, where he acted as liaison with institutional clients and all investment management consultants. Peter has a B.A. in Economics and Comparative Literature from Williams College.