Summary

Dix Hills Alternative Treasury Strategy Portfolio Manager Bio: Joseph Baggett, CFA - Portfolio Manager and Managing Member. Mr. Baggett is a founder and Senior Portfolio Manager for Dix Hills, Associates, LLC. Until his departure in January 2003, Mr. Baggett served as Executive Director, Quantitative Investments Group, UBS Global Asset Management in New York. At UBS, Joe was senior portfolio manager/research analyst for the quantitatively driven investment strategy group that managed over $6 billion in assets. Joe served as Model Developer and Portfolio Manager for Quantitative Fixed Income Strategies and the Quantitative Allocation, LLC ("Q.A."). Additionally, Joe was also a member of the Portfolio Management Team of UBS Tactical Allocation Fund, a $3 billion, a fully flexible mutual fund that allocated between stocks (S&P 500), bonds (intermediate-term Treasury notes) and cash on the basis of a quantitatively - driven market valuation model. Prior to UBS Asset Management, Joe worked as an Economist at PaineWebber, Inc., part of a 3 person unit that produced the firm's U.S. economic growth, inflation and interest rate outlooks. Prior to PaineWebber, Joe worked at the Federal Reserve Bank of New York as an Assistant Economist, Domestic Financial Markets Division. Mr. Baggett holds a B.A. in Economics from Columbia University (Summa Cum Laude, Phi Beta Kappa). He also attended the University of Chicago Graduate School of Business, completing the first year of a two year M.B.A. program with a 4.0 G.P.A.