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Dr. Myron S. SCHOLES Chairman, Platinum Grove Asset Management, New York; Nobel Laureate for Economics; Frank E. Buck Professor of Finance Emeritus, Stanford University

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1959-1962 B.A., emphasis on Economics, McMaster University 1962-1964 MBA, emphasis on Finance and Economics, University of Chicago 1964-1969 Ph.D. in Finance at the Graduate School of Business. Emphasis on Financial Economics, Economics and Statistics. Thesis: A Test of the Competitive Market Hypothesis: "The Market for New Issues and Secondary Offerings." 1966-1967 Research Associate, Center for Mathematical Studies in Business and Economics, University of Chicago 1967-1968 Instructor in Finance, Graduate School of Business, University of Chicago 1968-1972 Assistant Professor of Finance, Sloan School of Management, Massachusetts Institute of Technology 1972-1973 Associate Professor of Finance, Sloan School of Management, Massachusetts Institute of Technology 1973-1974 Ford Foundation Visiting Research Associate Professor of Finance, Graduate School of Business, University of Chicago 1975-1976 Associate Professor of Finance, Graduate School of Business; Executive Director, Center for Research in Security Prices, University of Chicago 1976-1980 Professor of Finance, Graduate School of Business; Director, Center for Research in Security Prices, University of Chicago 1980-1981 Professor of Finance, Graduate School of Business, University of Chicago; Research Associate, National Bureau of Economic Research 1981-1982 Distinguished Visiting Professor of Research, Graduate School of Business, Stanford University 1981-1983 Edward Eagle Brown Professor of Banking and Finance, Graduate School of Business, University of Chicago; Research Associate, National Bureau of Economic Research 1983-1988 Frank E. Buck Professor of Finance, Graduate School of Business, and Professor of Law, Stanford Law School, Stanford University; Research Associate, National Bureau of Economic Research 1988-1996 Frank E. Buck Professor of Finance, Senior Research Fellow, Hoover Institution, Stanford University; Research Associate, National Bureau of Economic Research 1990-1993 Senior Advisor, Managing Director, Salomon Brothers, New York 1994-1998 Principal, Long-Term Capital Management, L.P. since 1996 Frank E. Buck Professor Emeritus of Finance, Stanford University since 1999 Chairman, Platinum Grove Asset Management, L.P.

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