KEY PERSONNEL

Joe Bishop - GIS Manager
Mr. Bishop is the Geographic Information Systems (GIS) Manager for The Campbell Group. In his capacity, he provides leadership for the implementation of GIS technologies within the firm. He is directly responsible for the direction of and support for system development of GIS applications within The Campbell Group.

Prior to joining The Campbell Group, Mr. Bishop played a key role in the development of the Forest Resource Information System (FRIS) with Simpson’s Redwood Division. FRIS is a fully integrated GIS and Timberland Inventory System serving all levels of Simpson’s operation.

Angie Davis - Director of Business Development
Ms. Davis is Director of Business Development for The Campbell Group. She is responsible for client development, and increasing the awareness of The Campbell Group in the investment community. She also assists in product development for the company.

Prior to joining The Campbell Group, Ms. Davis was Vice President, Consultant for State Street Bank in the Performance and Analytics Division. She also served as the Assistant Director of Investments with the Oregon State Treasury, which manages state funds in excess of $45 billion. As the Assistant Director of Investments, Ms. Davis was responsible for the productive and prudent investment of all State of Oregon funds and funds entrusted to the State for management. She assisted the Director of Investments in the performance of all responsibilities including directing and coordinating day-to-day activities in the Investment Division as a full-authority deputy. She assisted the Director in establishing investment goals for the various trust funds under management; reviewed and evaluated performance of outside managers, consultants and advisors; and set performance standards as necessary.

Bruce Glass - Forest Economist
Mr. Glass is responsible for economic and forestry research, and price forecasting.

Prior to joining The Campbell Group, Mr. Glass was a member of Weyerhaeuser’s Market and Economics Research group, focusing on price forecasting and finished products research. Before that, Mr. Glass served as Lead Economist for the Washington State Department of Natural Resources for eight years, and a research scientist and economist at the New Zealand Forest Research Institute for sixteen years.

Denny Hill - Senior Business Analyst
Mr. Hill has led and participated in the analysis of each transaction considered by The Campbell Group. He has been responsible for detailed economic modeling and developed the acquisition model prototype used by TCG. Mr. Hill also leads development and documentation of the long-term management plans for each property.

Prior to his joining TCG, Mr. Hill worked as a research assistant with CINTRAFOR where his responsibilities included developing and publishing market assessments related to international trade in forest products. He also worked on a timber supply assessment for the state of Washington. Prior to that he worked as an intern for the Washing State Department of Natural Resources where his responsibilities included planning, designing and layout of roads and harvest units for an annual timber sale program.

Steve Holland - Portfolio Manager
Mr. Holland is a Portfolio Manager for The Campbell Group. His responsibilities include portfolio management, client communications, budgeting and forecasting, investor relations, and preparing portfolio-level analysis and reporting. Mr. Holland also provides analytical support in financial modeling, statistical analysis, performance reporting, compliance reporting and special projects.

Prior to joining The Campbell Group, Mr. Holland worked six years for a major forests products company where his responsibilities included statistical analysis and quality control reporting.

Julie Lawrence - Portfolio Manager
Ms. Lawrence is a Portfolio Manager for The Campbell Group. Her responsibilities include portfolio-management, client communications, budgeting and forecasting, investor relations, and preparing portfolio level analysis and reporting.

Prior to joining The Campbell Group, Ms. Lawrence worked for five years in public accounting, where her responsibilities included financial and operations auditing of private and public companies. Prior to her public accounting experience, Ms. Lawrence was on a work-college program at US National Bank, where her responsibilities included commercial banking, residential lending and branch operations.

Neil Radzins - Controller
Mr. Radzins is the Controller for the client-owned entities and is responsible for oversight of client accounting activities. This includes management of the monthly closing process, preparation of client financial statements, and monitoring of internal controls. He is also responsible for oversight of external audits of client entities. He is a member of the American Institute of CPAs and the Oregon Society of CPAs. He is a graduate of Portland State University with a degree in Accounting.

Joe Shore - Manager of Acquisitions & Appraisals
Mr. Shore is the Manager of Acquisitions & Appraisals. In this capacity he has supervised and provided the evaluation, assessments and inputs to all The Campbell Group acquisitions since 1988 in the Northwest U.S. and Canada. His responsibilities are to assess the quality of the property and information provided by the seller, develop a wood flow (harvest) schedule, and assess the various risks (environmental, market, etc.).

Prior to joining The Campbell Group, Mr. Shore worked for 15 years at ITT Rayonier. His responsibilities included timber appraising and cruising.

Mark Simmons - Vice President of Finance
Mr. Simmons is the Vice President of Finance for The Campbell Group. His responsibilities include financial accounting, budgeting, human resources, administration and information systems. He is also involved with the pricing of services.

Prior to joining The Campbell Group in 1991, Mr. Simmons worked for six years in the financial and operational auditing of private and public companies, including a major forest products company, for PricewaterhouseCoopers (formerly Price Waterhouse).

Chris Wilson - Portfolio Manager
Mr. Wilson is a Portfolio Manager and Financial Analyst for The Campbell Group and is responsible for budgeting, forecasting and operational reporting for all client properties. His duties concentrate on working with field office personnel to compile and analyze monthly forecasts and annual budgets.

Prior to him joining The Campbell Group, Mr. Wilson worked as a financial analyst and forecasting manager working with other production managers to obtain company financial goals while ensuring top quality customer service.