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 a financial consultant providing advisory and part-time CFO services to various companies. Previously 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.

Serge Carrière, O.C., M.D., F.R.C.P.,^(1,2,3,4), is President of Scimrec Counsultant Group. He was Scientific Director, North America for Servier from 1998-2004. 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), began serving as President of the Professional Institute of the Public Service of Canada on January 1, 2005. Michèle has been active in the union for over twenty years having served most recently as Vice-President. As a social worker at Veterans Affairs Canada, Michèle first became politically active as a Steward in 1981 and continued to be more and more involved with the Institute on behalf of the members. In recent years, Michèle has championed issues such as balancing work, union activities and family life, union-management consultation, classification reform, official languages, term employment staffing and public service modernization, to name but a few. Michèle is currently Co-Chair of the National Joint Council, a member of the Public Service Pension Advisory Committee and a member of the Board of Governors of the Canada School of the Public Service. A passionate believer in the union movement, Michèle strongly believes that the rights and interests of employees should be firmly upheld and vigorously promoted. Improving labour management relations is critical to the betterment of the working environment of the Public Service to the benefit of all Canadians.

Steven J. Hawkins,^(2,3,4), is the Chief Executive Officer and President of the Fund and the Manager. Mr. Hawkins is also a Managing Partner of JovFunds Management Inc. as well as the President, Chief Financial Officer, Chief Operating Officer and Director of Impax Funds Management Inc. Prior to joining the Impax / 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.

Gordon A. McMillan, LL.B., is the Chairman and a Director of the Manager. Mr. McMillan is also Chairman of JovFunds Management Inc. and Managing Director of Impax Management Ltd.. Prior to joining the Impax/JovFunds organization, he was the Chief Executive Officer and a Director of NGB Management Inc., the manager of New Generation Biotech (Equity) Fund Inc. and New Generation Biotech (Balanced) Fund Inc., two labour sponsored investment funds with approximately $120 million under management. Prior to this, Mr. McMillan also served as Chief Executive Officer and a Director of Skylon Capital Corp., a private Ontario-based investment management firm, and VentureLink Capital Corp., a private Ontario-based venture capital firm. In these roles, Mr. McMillan was instrumental in the creation of more than 10 structured product funds and 6 labour sponsored investment funds with assets under management in excess of $800 million of which more than $175 million were specifically labour sponsored funds. Prior to co-founding Skylon Capital Corp., Mr. McMillan was the founder, a Director, President and Chief Executive Officer of Triax Capital, a Canadian investment management firm that specialized in labour sponsored investment funds with approximately $700 million of assets under management. Mr. McMillan holds a Bachelor of Laws degree from Queens University and is a member of the Law Society of Upper Canada.

Mark Pearson, Ph.D.,⁽²⁾ is Chief Executive Officer of NeuroMedix Inc. since November 2005. Dr. Pearson was previously President and Chief Executive Officer of Protana Inc., a privately-held proteomic service company. since April 2005.Before that, 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.

J.R. Joceyln Paré, B.Sc., Ph.D., 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.

* 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 Committee
² member of Investment Committee
³ member of Valuation Committee
⁴ member of Special Strategic Committee

Officers:

Jacques Ippersiel is the Vice-President Operations of the Funds. Mr. Ippersiel is also the Chief Financial Officer of Fairway Capital Management Corp. Prior to joining the Fairway 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 a Chartered Accountant and the Chief Financial Officer of the Fund and the Manager. Mr. Mackey has been the Chief Financial Officer of Jovian, a publicly-traded financial services company, since 2003, and the Chief Financial Officer of MGI, a full-service investment dealer, since 2000. 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.