THE FOUNDERS

PETER b. CANNELL

FOUNDER

Mr. Cannell founded Peter B. Cannell & Co., Inc. in August 1973. After a stint in the research department of Merrill Lynch, he joined the investment banking firm of F. Eberstadt & Co., Inc. in 1955, becoming a general partner in 1959. During most of his 14 years with Eberstadt, he was active in the management of Chemical Fund of which he was elected President and Chief Executive Officer in 1962. Mr. Cannell also served as F. Eberstadt’s partner of Research and partner in charge of the firm’s Investment Advisory Department. Mr. Cannell retired from Peter B. Cannell & Co., Inc. in 2004.