Key Members Bernardo Vargas Partner As Partner of Nogal, Mr. Vargas has led various transactions including the advisory to Manuelita, Pantaleon and Unialco in the creation of a JV, advisory to CVCI-Citigroup in the valuation and sale of 29.5% of Cartones América, advisory to Grupo Manuelita in the valuation and sale of Armonia, and advisory to Valores Bavaria en the sale of Vikingos to Casa Luker. Before founding Nogal in 2001, Mr. Vargas was a managing director with ING Barings responsible for the corporate and investment bank in Colombia. Mr. Vargas joined Baring Securities in 1994 as Head of the Andean Pact Region and was subsequently appointed as President and CEO for the merged operations of Barings and ING Colombia on January 1997. Mr. Vargas has an extensive experience in investment banking in Colombia and Latin America. He has participated in M&A transactions for Uniban, Bancolombia-BIC, Grupo Mayagüez, Central de Mezclas and Sanford Group among others. Before joining ING Barings, Mr. Vargas acted as founding CEO of Proexport Colombia, the nation’s export promotion agency; CEO of Fiducoldex a local trust bank and Advisor to the Minister of Foreign Trade. Previously he was Head of the External Financing and Foreign Reserves Department at the Colombian Central Bank (Banco de la República). In this position Mr. Vargas was responsible for managing the portfolio of Colombia’s foreign reserves of arround USD$ 5 bn. Mr. Vargas obtained his MBA from Columbia University and has an Economics BA and MS candidate from Universidad de Los Andes, in Bogotá, Colombia. Salomón Kassin Tesone Partner Mr. Kassin has been in the Investment Committee of Latin American Communications Partners since the Fund’s inception. He became a Managing Director of the Fund in 2002 and represents LACP as a member of several boards of directors. Prior to LACP, Mr. Kassin was the Principal and Managing Director of Colombia-based Compañía General De Inversiones (CGI), where he acted as the exclusive agent for Philip Brothers (Phibro Inc.) in Colombia from 1981 through 1996. In 1983 Phibro acquired Salomon Brothers and Mr. Kassin also headed that company’s investment banking operations in Colombia until Citigroup acquired the business in 1999. During that time, he initiated more than $USD 2.6 billion worth of investment banking transactions, mainly in the energy and financial services sectors, as well as advising the government of Colombia in several privatization projects. His work included M&A advisory, including (i) Privatization of coal company Carbocol (the nation’s joint venture with Exxon), (ii) advising Royal Dutch Shell in the sale of its Hocol and Homcol subsidiaries in Colombia, (iii) advising Spain-based BBVA on its acquisition of Banco Ganadero and its expansion strategy in Colombia and Peru as well as several bond offerings, including (i) a US$240 million offering for TransCanada Pipelines BP for development of its Gasoducto de Occidente, (ii) a US$150 million offering for Comunicación Celular S.A. and (iii) a US$250 million offering for the Colombian government. As exclusive marketing agent for Carbocol in the United States and the United Kingdom, Mr. Kassin arranged coal sales with values exceeding a quarter of a billion dollars. Mr. Kassin holds a Bachelor of Science in International Finance from American University in Washington D.C. Lina Marcela Barón Project Director As Project Director for Nogal, Ms. Barón has parcipated in M&A projects, financial projects of capital structuring and structuring of financial instruments for the capital markets. It stands out, during 2006 and 2007, her participation in the financing with IFC of a “greenfield” sucroalcolero in Brasil, at the same time she has led the structuring of titularizaciones. Additionally she has been advisor to important enterprise groups like Organizacion Corona and Grupo Neme. Prior to joining Nogal, Ms. Barón was Project Director at BRC Investor Services (Rating Agency), responsible for rating processes of financial institutions including banks, trusts, security firms and pension funds. BRC Investor Services is a former affiliate of Bankwatch Ratings, one of the two rating agencies that operate in Colombia. Ms. Barón was also involved in rating structured capital markets instruments including securitizations and senior bonds. She was also responsible for non performing loans (NPL) securitization TECH2 and guaranteed bond issues of leasing companies, among others. She worked at BRC from 2003 to 2005. From 1999 to 2003 Ms. Barón worked at different positions within the financial division of Leasing Bolivar. As a Director of the Risk and Financial Planning Department (during the last two years), she was responsible, among others, of developing and implementing the risk administration procedures and risk administration system for the company and financial evaluation of projects. Ms. Barón has a degree in Industrial Engineering from Universidad de Los Andes, Bogotá – Colombia. She also has a Diploma on Postgraduate Studies in Finance from the same University. Ana María Giraldo Project Director As Project Director for Nogal, Ms. Giraldo has coordinated several projects such as the structuring of M&A deals within the following sectors: building materials, mobile communication , medical supplies and consumer goods among others. She has also participated in the capital structure and indebtedness capacity analysis for various types of companies. In addition she has participated in advisories to important enterprise groups like Organizacion Corona, Grupo Mundial, and other enterprise groups in the Andean Region. Prior to joining Nogal Ms Giraldo was Financial Analyst in Incorbank –Investment Bankers, where she was responsible for activities such as financial valuation, corporate clients relationships and marketing activities. Some of the advisories include clients like Federacion Nacional de Arroceros, Banco de Bogotá, Banco de Occidente, Instituto de Seguros Sociales, Almacenar and other companies within industries such as agro industrials, ports, minerals, services restaurants) among others. She stands out for her participation in the valuation and selling of shareholdings in local utilities and telecommunication companies. She was also involved in the valuation and analysis of governmental concessions. Ms. Giraldo has a degree in Business Administration from Politecnico Grancolombiano, Bogotá – Colombia. She has also a diploma on postgraduated studies in Corporate Finance from Colegio de Estudios Superiores de Administración – CESA, Bogotá – Colombia. Carolina Dorado Project Director Prior to joining Nogal, Miss Dorado was general manager of a rose company that exports its products to the Swiss market with the highest standards of quality: FLO-certified Fair Trade and Global GAP. She has also worked in national and multinational companies. She participated in the creation of Redbull in Colombia which became the company´s headquarter in South America. Before working with Redbull she worked in the financial area of Alqueria on “in house” banking where she participated in the purchase of three companies in different regions of the country, she participated in the first corporate bond issues in the diary sector, she also conducted project evaluation, analysis of new products, and new markets. Miss Dorado also has extensive experience in investment banking, between 2002 and 2005 she worked as Financial Analyst in Incorbank Investment Bankers, where she developed valuation activities in the financial, utilities, pharmaceutical, and agribusiness sectors. She participated in the financial restructuring and subsequent sign to Law 550 Santa Clara Hotel and the valuation of Central de Seguros for sale to QBE Insurance Group. She also participated in the merge of Banco Aliadas and Banco de Occidente. Miss Dorado has a degree in Industrial Engineering from Universidad de Los Andes, Bogotá. Additionally she has a diploma on postgraduate studies in Corporate Finance from Colegio de Estudios Superiores de Administración – CESA, Bogotá – Colombia.		Bernardo Vargas Salomón Kassin Tesone Lina Marcela Barón Ana María Giraldo Carolina Dorado