Timothy Bei is a member of the RS Hard Assets and RS Value Teams.

• Tenure with RS Investments: May 2008
• Prior Experience: Equity research analyst at T. Rowe Price Associates for five years. Previously, he worked at Jupiter Media Corporate in their venture capital and acquisitions group and was a senior financial analyst at Piper Jaffray.
• Education: B.S. in history from Santa Clara University and an M.B.A. from the University of Virginia. Tim is a CFA Charterholder.

MacKenzie B. Davis is co-head of the RS Hard Assets Team, a member of the RS Value Team, and is involved in the management of the RS Global Natural Resources strategies.

• Tenure with RS Investments: March 2004
• Tenure as Co-Portfolio Manager: January 2005
• Prior Experience: High Yield analyst at Fidelity Management & Research Company for four years; vice president at Fidelity Capital Markets for four years; analyst at Goldman Sachs & Company for two years
• Education: B.A. from Brown University and is a CFA Charterholder

Martin H. Engel is a member of the RS Hard Assets Team.

• Tenure with RS Investments: January 2007
• Prior Experience: Generalist at Behrens Rubinoff Capital Partners LLC for two years. Previously, he was a vice president at TenX Capital Partners, a private equity firm affiliated with Cerberus Capital Management, L.P.
• Education: B.S. in commerce from the McIntire School of Commerce at the University of Virginia and an M.B.A. from the Wharton School

Andrew P. Pilara Jr. is a member of the RS Hard Assets and RS Value Teams and is involved in the management of the RS Global Natural Resources strategies.

• Tenure with RS Investments: September 1993
• Tenure as Portfolio Manager: 1999
• Prior Experience: President of Pilara Associates, a private investment firm specializing in value investing for 19 years
• Education: B.A. from St. Mary's College of California

Ken Settles is co-head of the RS Hard Assets Team, a member of the RS Value Team, and is involved in the management of the RS Global Natural Resources strategies.

• Tenure with RS Investments: September 2006
• Tenure as Co-Portfolio Manager: May 2007
• Prior Experience: Senior energy analyst at Neuberger Berman, LLC for seven years; financial analyst at Salomon Smith Barney, Inc. for three years
• Education: B.A. in economics from Williams College and is a CFA Charterholder

Chris Beagle is a senior equity trader for the RS Hard Assets and Value Teams.

• Tenure with RS Investments: 2003
• Prior Experience: Principal in Sales Trading for Nation's Bank/Montgomery (which became Bank of America Securities) for five years. Previously, he was Trader for Robertson Stephens Asset Management for four years.
• B.A. in political science from University of California, Berkeley.

Jean Timken is a senior equity trader. Prior to joining the firm in 2005, Jean was head Trader for West Highland Capital for ten years. Previously, she was Head Trader for Pacific Equity Management for five years and prior to that she was a sales/trader at Hambrecht and Quist for eight years. Jean holds a B.A. in political science from San Diego State University.

• Tenure with RS Investments: 2005
• Years of Experience: 29 years
• Prior Experience: Head Trader for West Highland Capital for ten years. Previously, she was Head Trader for Pacific Equity Management for five years and prior to that she was a sales/trader at Hambrecht and Quist for eight years.
• Education: B.A. in political science from San Diego State University.