Mr. Cutter is Managing Partner of the venture capital firm Warburg, Pincus. He previously held senior positions at Coopers & Lybrand. In the United States Government he served as Deputy Assistant to President Clinton for Economic Policy and as Executive Associate for Budget of the Office of Management and Budget under President Carter. He is a chairman of the Board of CARE and a co-Chair of the Aspen Forum. Mr. Cutter was educated at Harvard University, Oxford University (where he was a Rhodes Scholar) and Princeton University's Woodrow Wilson School of Public and International Affairs.

Mr. Dervis is the Administrator of the United Nations Development Program. He has been a Member of the Turkish Parliament, a Fellow of the Center for Global Development and Minister of Economic Affairs of Turkey (2001-02). At the World Bank (1978-2002) he served as Vice President for Europe, Middle East and North Africa, Vice President for Poverty Reduction and Economic Management and in other senior positions. Mr. Dervis has taught at Bilkent University, Princeton University and the Middle East Technical University. He was educated at Princeton University and at the London School of Economics. His publications include General Equilibrium Models for Development Policy.

Professor Hauser is the head of Swiss Institute of International Economics and Applied Economic Research, and Professor of Economics at the University of St. Gallen, Switzerland. He is a leading authority on international economic and business management issues and has published widely on these subjects.

Dr. Jeker is a former Senior Executive Vice President and member of the Executive Board of Societe Generale de Surveillance and Under Secretary for Foreign Economic Relations, Switzerland. He is Chairman of the Swiss Export Promotion Board, former President of Swiss Chamber of Commerce, member of numerous public-private committees in Switzerland, and Board member of a number of private companies. He has worked in over 90 countries and has a PhD in Economics and Business Management from University of St. Gallen.

Mr. Kaji is Chairman of the Centennial Group and a board member of several companies. When he left the World Bank in 1997 he was Managing Director for Operations in Asia and Africa, Chairman of the Operations Committee, co-Chair of the Private Sector Development Group (which encompasses the work of the Bank and its private sector affiliates, MIGA and IFC) and a member of the Bank's Executive Committee having previously served as Regional Vice President for East Asia and the Pacific and in other senior positions. Before joining the Bank Mr. Kaji worked in the private sector in India, Hong Kong, the UK and the USA. He was educated at the Wharton School of Finance at the University of Pennsylvania.

Mr. Kohli is President and CEO of the Centennial Group, Chairman of Centennial Group Latin America and a board member of several private corporations in Asia and the USA. Mr. Kohli worked at the World Bank for 25 years where he was Director of the Maghreb and Iran Department, Director of the Technical Department for Europe and Central Asia and Director of the Information, Technology and Facilities Department. He has written widely on Public Private Partnerships for Infrastructure Development and financial development. Before joining the Bank Mr. Kohli worked in the private sector in India and France. He was educated at Punjab University and Harvard Business School.

Mr. Malan is Chairman of Unibanco. He was Minister of Finance of Brazil from 1995-2003, having previously been President of the Central Bank of Brazil, Special Adviser and Chief Foreign Debt Negotiator in the Ministry of Finance and Professor of Economics at the Pontifica Universidade Catolica de Rio de Janeiro. He served as an Executive Director at the World Bank Group, an Executive Director of the Interamerican Development Bank and Director of the Center for Transnational Enterprises and Director of the Department of International Economics and Social Affairs at the United Nations. Mr Malan was educated at the Pontifica Universidade Catolica de Rio de Janeiro and the University of California at Berkeley.

Mr. de Ocampo is President of the Asian Institute of Management, Senior Financial Advisor to SGV & Co. and chairman or member of the board of numerous private companies. He was Secretary of Finance of the Republic of Philippines from 1994 to 1998 and served as Chairman of the APEC Finance Ministers and the ASEAN Finance Ministers. Previously, he was Chairman and CEO of the Development Bank of the Philippines and has been Chairman of many financial institutions and high level councils in the Philippines. Mr de Ocampo was educated at the University of Michigan and the London School of Economics.

Mr. Sheng is the former Chairman of the Securities and Futures Commission (SFC) of Hong Kong. Trained as an Economist and a Chartered Accountant, he held various managerial positions at Bank Negara Malaysia (Central Bank of Malaysia) and the World Bank between 1976 and 1993, and was the Deputy Chief Executive, Hong Kong Monetary Authority from 1993 to 2003. He has published widely on monetary and financial issues, and is currently writing a book on the lessons of the 1997 Asian Financial Crisis.