Daiwa SB Investments (USA) Ltd.

Daiwa SB Investments Ltd (DSBI) was established in Tokyo in 1973 and is the core pillar of Daiwa Securities Group, Inc. and Sumitomo Mitsui Financial Group, Inc.'s asset management operations for over 40 years. Daiwa SB Investments' Distribution of Shareholders is as follows: Daiwa Securities Group Inc. 44% Sumitomo Mitsui Financial Group, Inc. 44% T.R.P.H. Corporation 10% Sumitomo Mitsui Trust Bank, Limited 2%. DSBI offers a variety of professional investment management services to plan sponsors including major corporate and public pension funds, financial institutions and government agencies both In Japan and abroad. DSBI's business activities also include the management of investment trusts for individual investors, private investment trusts for institutional investors, and variable annuity products as well as an offering of products for DC plans. Effective April 1, 1999 Daiwa International Capital Management Co., Ltd. and two investment management subsidiaries of Sumitomo Bank, SB Investment Management Co., Ltd. and SBIM Investment Trust Management Co., Ltd. created a new company named Daiwa SB Investments Ltd. (DSBI). Daiwa SB Investments (USA) Ltd., a Delaware corporation and wholly owned subsidiary of Daiwa SB Investments Ltd. of Tokyo, Japan, has been an U.S. SEC Registered Investment Advisor since 1981.