Directors:

John Anderson, B.A., C.A., ^(1), has been President, Chief Executive Officer and Chief Financial Officer of LPBP Inc. since May 2004. He is also currently CFO of Impax Energy Services Ltd. Previously, he was a financial consultant providing advisory and part-time CFO services to various companies; he served as Chief Financial Officer of Energenius Inc.; as Senior Advisor for MDS Capital Corp.; as Chief Financial Officer of The T. Eaton Company Limited and as a partner of Ernst & Young LLP. He is a member of the Institute of Chartered Accountants of Ontario. Mr. Anderson also serves on the boards of several other entities.

Philip Armstrong, became the founding principal of Jovian Capital Corporation in 2001. He has been the Chief Executive Officer and a Director of Jovian Capital Corporation, as well as a Director of JovInvestment Management Inc. since 2003.Mr. Armstrong has over 30 years' experience in the trust and asset management business; he was a founding partner of Altamira Investment Services Inc. and was President and CEO of the company from 1987 to 2000. From 1981 to 1987 he joined Morgan Trust Company as Vice President of Trust Services and President of Morgan Managed Funds. Mr. Armstrong moved to Canada in 1975 and joined Crown Trust Company. Mr.Armstrong graduated BA (Law) with Honours from the Manchester School of Law in 1972, and joined Lloyds Bank in the Investment and Trust Department from 1972 until 1975. Mr. Armstrong has served as Chairman of the Investment Funds Institute of Canada (IFIC) and the Mutual Fund Dealer's Association (MFDA). In addition, he serves on the board of the Ireland Fund of Canada.

Serge Carrière, O.C., M.D., F.R.C.P.,^(1,2,3,4), has been President of Scimrec Counsultant Group since April 2004. Dr.Carrière was Scientific Director, North America for Servier from January 1998 until March 2004. He was President and COO of Phoenix International Life Sciences from 1996 to 1997 and Vice-President, Clinical Research of that company from 1995 to 1996. He is the former Dean, Faculty of Medicine, University of Montréal (1989-1995). Dr. Carrière is a past director and Chief Executive Officer of the Canadian Medical Research Associates Inc. (1987-1989) and was co-founder of the following biotechnology companies: Phoenix International Life Sciences Inc., Medvedent and Lomedic which resulted in Theratechnology Inc. From 1983 to 1988, he was the President of the Fonds de la recherche en santé du Québec. Dr. Carrière is the recipient of many awards and honours, including the G. Malcolm Brown Award (1991). Dr. Carrière is a former member of the Medical Research Council of Canada.

Michèle Demers,^(1,3,4), has been President of the Professional Institute of the Public Service of Canada since January 2005, and prior thereto was Vice-President of The Professional Institute for the Public Service of Canada. She has been active in the union for over 20 years.

Steven J. Hawkins,^(2,3,4), is the Chief Executive Officer and President of the Fund and a Managing Partner and Director of the Manager. Mr. Hawkins is also the President, Chief Compliance Officer and Chief Operating Officer of JovInvestment Management Inc. Prior to joining the Jov / JovFunds organization in October 2005, Mr. Hawkins was the Vice-President, Compliance for AMG Canada Inc. (previously First Asset Management Inc.) as well as the Senior Vice-President, Compliance and Risk Management and Chief Investment Officer for First Asset Investment Management Inc. and its related companies for five years. In these roles, Mr. Hawkins oversaw the compliance functions at several Canadian asset management firms as well as was responsible for managing or overseeing the management of more than 20 structured product funds and 10 labour sponsored investment funds with assets in excess of CAD $1 billion. Prior to joining the First Asset organization in July 2000, Mr. Hawkins was the head of compliance for Altamira Management Ltd. for six years. Mr. Hawkins has more than 15 years of experience in the investment business and participates in several industry association committees and working groups. Mr. Hawkins studied mathematics and philosophy at the University of Toronto and has received the Derivatives Market Specialist (DMS) designation.

Wilbert J. Keon, O.C., M.D., F.R.C.S.(C)^{, (1,2,3,4)}, was a practicing academic surgeon from 1969 to September 2001. He founded the University of Ottawa Heart Institute in 1969, where he was the Chief executive Office until April 2004. Dr. Keon was Professor and Chairman of the University of Ottawa Department of Surgery for fifteen years and was the first Canadian surgeon to implant a total artificial heart as a bridge to transplant. Dr. Keon has held appointments and elected offices in 36 national and international professional associations including Past-President of the Canadian Cardiovascular Society and past Vice-President of the Medical Research Council of Canada. He has been honoured by his profession with numerous awards as well as by his country as an Officer of the Order of Canada and as a Senator of the Federal Government.

Jean-Pierre Morency, B.Eng., M.Sc.,^(1,3) is retired. From 1968 to January 2004, he was a Defence Scientist with the Canadian Department of National Defence. For the majority of his career, Mr. Morency was involved in research and development related to the application and effects of laser technologies.

J.R. Joceyln Paré, B.Sc., Ph.D.,^(2,4) is the Chief of the Green Technologies at the Environmental Technology Centre in Ottawa. He is the inventor of a number of technologies collectively known as Microwave-Assisted Processes (MAP™)*. , which has applications in the agri-food, pharmaceutical, forensic, environmental and several other sectors. He has authored/co-authored over 140 scientific publications, holds 13 patents, and has presented his scientific work around the world in almost 400 communications. Dr. Paré is recognized as a “model” across Canada’s Public Service for successfully integrating research, development and commercialization activities with both public good contents and tangible commercial success. He has been recognized with numerous awards for his work including Environmental Canada’s Department Citation of Excellence Award (3 years), the Federal partners in Technology Transfer Innovator Award (2001), and The Meritorious Service Medal (2003), to name but a few.

Marc Pearson, Ph.D.,^(2,4) has been Chief Executive Officer of NeuroMedix Inc. since November 2005. Previously, he served as President and Chief Executive Officer of Protana Inc. from April 2005 to October 2005. Prior thereto, he served as Vice President, Corporate Development and Strategy of MDS Inc., as Senior Vice President in business development and in R&D for MDS Proteomics, President of MDS Ocata, President of Molecumetics Ltd. and President and Chief Executive Officer of Darwin Molecular Corporation. He held senior R&D executive positions at Du Pont Merck Pharmaceuticals and Du Pont’s Central R&D Department in Wilmington, the Laboratory of Molecular Biology of the National Cancer Institute’s Frederick Cancer Research Facility and was professor of Medical Genetics and Medical Biophysics at the University of Toronto. Dr. Pearson did postdoctoral and sabbatical research at Stanford University and holds a B.A.Sc. in Engineering Physics at the University of Toronto, and M.A. and Ph.D. degrees in Medical Biophysics from the Ontario Cancer Institute, University of Toronto

* MAP is an Official Mark of Her Majesty The Queen in Right of Canada as represented by the Minister of the Environment.

¹ member of Audit & Valuation Committee
² member of Investment Committee
³ member of Governance & Independent Review Committee
⁴ member of Special Strategic Committee

Officers:

Jacques Ippersiel is the Vice-President Operations of the Funds. Mr. Ippersiel is also the Vice President, Investment Operations of JovFunds Management Inc. Prior to joining the JovFunds organization in September 2005, Mr. Ippersiel was Senior Manager, Investment Accounting with State Street Fund Services Toronto Inc. where he was responsible for overseeing the daily fund valuation, financial statement preparation, distribution review, and audit of over 60 open-end mutual funds and closed-end structured products. Mr. Ippersiel has more than nine years of experience in the mutual fund services industry.

Jason Mackey is the Chief Financial Officer of the Manager. Mr. Mackey has been the Chief Financial Officer of Jovian, a publicly-traded financial services company, since 2003, and was the Chief Financial Officer of MGI, a full-service investment dealer, from 2000 until 2007. Prior to joining MGI, Mr. Mackey was a Senior Manager at KPMG LLP’s investment dealer practice, performing assurance and advisory services.

Dale E. Patterson is the Executive Vice President, Government Relations and Regulatory Affairs of the Canadian Medical Discoveries Funds, Executive Director of the Association of Labour Sponsored Investment Funds, President of BioFinance Canada, and Founding Chair of the Biotechnology Council of Ontario. He has a Provincial Order-in-Council appointment as the Chair of the Postsecondary Education Quality Assessment Board, served as a Special Advisor to the Board of Directors of the Ontario Research and Development Challenge Fund and is also the former Chief of Staff to the Ontario Minister of Industry, Trade and Technology. Mr. Patterson is a member of the Board of Directors of several professional and non-profit organizations, including BIOTECanada, the Toronto Biotechnology Initiative, the Canadian Venture Capital Association, the Ontario Medical Technologies Consortium, the Ontario Health Research Alliance, the Office of Partnership for Advanced Skills, the Genome Canada Science and Industry Advisory Committee, and is the Past Chair of the Biotechnology Human Resource Council. Mr. Patterson, a graduate of York University, is the past Chair of the Board of Governors of Ryerson University, and served as Co-Chair of the Council of Ontario Universities Board Chairs. He is also a founding member of the Board of Directors and the Board of Governors of Opportunity International Canada.

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