The Funds' investments are reviewed and approved by an Investment Committee, composed of leading business people from around the world. In addition to reviewing and approving individual investments, the Committee serves as a powerful source of industry contacts, thereby providing additional resources to the Funds' portfolio companies.

Members of the Committee include:

		Edgar M. Bronfman, Sr., Chairman of the Board
		Mr. Bronfman was the former Chairman of the Board of Directors of the Seagram Company (NYSE: "VO"), a "Forbes 100" company. From 1981 until 1995, Mr. Bronfman served as a member of the Board of Directors of Du Pont (E.I.) De Nemours & Co. Mr. Bronfman also plays a leading role in global Jewish affairs serving, inter alia, as President of the World Jewish Congress.

		G. Allen Andreas
		Mr. Andreas is Chairman and CEO of Archer Daniels Midland Company (NYSE: "ADM"), a major processor of agricultural products for the Food and Feed Industries. The company refines vegetable oils and produces sweeteners and fuel alcohol. Archer Daniels Midland, a "Forbes 100" company, is one of the world's largest processors of oilseeds, corn and wheat.

		Joseph Ciechanover
		In addition to his membership in the Investment Committee, Mr. Ciechanover is also the president of Challenge I & II. Mr. Ciechanover has extensive experience in managing investments in Israel and in companies connected to Israel. Until recently, Mr. Ciechanover also served as Chairman of the Board of El Al Israel Airlines. Currently, he is a member of the NASDAQ Advisory Board. He previously served as President of PEC Israel Economic Corporation (Formerly NYSE: "IEC"), later merged into controlled by I.D.B. Holding, a private Israeli investment and holding company. Mr. Ciechanover served as Chairman of the Board of Israel Discount Bank, Israel's third largest commercial bank, and was a member of the Bank of Israel Advisory Committee. He has served in several government posts in Israel and abroad, including Director General of Israel's Ministry of Foreign Affairs, Head of Israel's Defense Mission to the United States and Canada, and General Counsel to the Israel Ministry of Defense and Ministry of Agriculture. Mr. Ciechanover holds a Ph.D. in Philosophy from Boston University, L.L.M. from the University of California at Berkeley, a Magister Juris degree from the Hebrew University of Jerusalem and is a member of the New York and Israeli Bar Associations.

		Charles de Gunzburg
		Mr. de Gunzburg is Vice-Chairman of First Spring Corp., a private New York-based investment company. He also serves as General Partner of FdG Associates, a leverage buy-out firm. He holds a B.A. from Dartmouth College and a Masters degree in Public Administration from Harvard's Kennedy School of Government.

		Arie Genger
		Mr. Genger is the founder, Chairman and CEO of Trans-Resources, Inc., a privately owned holding company which, through its subsidiaries, manufactures fertilizers and chemicals and markets its products in more than 80 countries. TRI, a "Forbes 100" company, is the world's largest producer of Potassium Nitrate (a crop fertilizer) and Propanil (a rice herbicide).

		Giovanni Perissinotto
		Mr. Perissinotto is the General Manager of Assicurazioni Generali, Italy's top insurance company and one of the most important holding companies in Europe and the world. Mr. Perissinotto graduated from the University of Trieste with a degree in Economics and began working for Generali in 1980. Having worked as Financial Manager in the US Branch, Mr. Perissinotto was recalled by the parent company and promoted, through a succession of senior executive positions, to his most recent position as General Manager.