Richard Klitzberg – Klitzberg Associates / McDaniel College Richard Klitzberg has been involved in the securities business for in excess of 48 years. He is expert in the placement of investment capital for institutional investors and high net worth individuals. He began his career in 1969 at Bache & Co. He established and managed their Investment Management Services Division which consulted to prominent institutional investors in selecting and monitoring third-party professional investment managers. Clients included the retirement funds of large corporations, public funds, endowments, foundations and labor unions. He managed a staff of 14 professionals and a national clientele with invested assets exceeding $50 billion. In 1980, Richard formed First Investors Asset Management Co. The company was the first to manage high yield fixed income portfolios, then an emerging asset class. Clients included the pension funds of The World Bank, Delta Airlines, Allied Corp., Mars, Inc. and Atlantic-Richfield. Richard founded Klitzberg Associates, Inc. in 1982 to consult to and raise capital for specialized investment managers. The firm has been a pioneer in “alternative investments” to include hedge funds, LBOS and bankruptcies. Klitzberg Associates has been instrumental in arranging in excess of $9 billion in investments. In addition, Richard is the General Partner of – Select Capital Strategies, L.P. and Diversified Loan Strategies, LLC, both funds of hedge funds. In 2004 Richard formed “Fund Solutions”, a program to promote the use of boutique sub-advisors for under-performing mutual funds. In excess of $2.7 billion has been placed under new management.