The Board of Advisors make recommendations to the Managers of the Company regarding the various projects of the Company. The recommendations of the Board of Advisors are advisory in nature and are not binding upon the Managers who are solely responsible for the actions taken by the Company.

Major General Joseph P. Franklin (US Army, Ret), Chairman - Class of '55
General Franklin is currently Chairman of Frequency Electronics, Inc. (AMEX:FEI), and on the Board of RKO Pictures. He is the former Chief, Joint US Military Assistance and Advisory Group, Spain; and was Commandant of the US Military Academy at West Point (1979-1982). He is a member of the Board of Trustees of the AOG (Association of Graduates), USMA (United States Military Academy).

Rand V. Araskog- Class of '53
Mr. Araskog was the Chief Executive of ITT Corporation from July 1979 and Chairman from January 1980 until he retired in 1998. He had also been a director of the corporation since 1977. He is a director of the Hartford Financial Services Group, ITT Industries, Inc., Dow Jones & Company, Inc., Shell Oil Company, ITT Educational Services, Inc. and Rayonier, Inc. He is a member of the Board of Regents of Harris Manchester College in the University of Oxford and the Business Council.

James E. Arnold
Mr. Arnold has more than 25 years' experience as a senior communications executive with political, public affairs, and industry trade organizations. Mr. Arnold is Chairman of James E. Arnold Consultants, Inc., a firm of international management consultants specializing in corporate marketing. He currently serves as a trustee of the Arthur W. Page Society and chairs its Business School Committee. He is on the Dean's Advisory Committee of George Washington University's Graduate School of Political Management and is a guest lecturer at the Harvard Business School. Mr. Arnold has also been a press secretary and chief of staff to a Lieutenant Governor and an executive director of a Presidential museum and library.

John D. Bergen - Class of '64
Mr. Bergen is the current President of the Council of Public Relations Firms, the first trade association to represent the US public relations industry. Mr. Bergen joined the Council from CBS Corporation serving as Senior Vice President for Corporate Relations. He played a key role in the transformation of the Westinghouse Electric Company into CBS, and was an executive at both RCA and GE. Mr. Bergen is a Vietnam veteran, and was an Army Ranger and paratrooper. Mr. Bergen has taught English, philosophy, and ethics at West Point.

Daniel W. Christman - Class of '65
General Christman is the President and Executive Director of the Kimsey Foundation, Washington, D.C. General Christman served for five years as the Superintendent of The United States Military Academy at West Point. Before his West Point assignment, General Christman served two years as Assistant to the Chairman of the Joint Chiefs of Staff in the Pentagon. In that position, he traveled with and advised President Clinton's Secretary of State on a broad range of military and national security issues. During the Gulf War in 1991, he headed a strategic planning group that advised the Army's Chief of Staff on war prosecution policies. General Christman received MPA and MSE degrees, and graduated with honors from The George Washington University Law School.

Paul B. Firstenberg
Mr. Firstenberg has held senior executive positions in business, education, and entertainment. He has served as Executive Vice President of the Prudential Life Insurance Company's real estate investment group, was Chancellor of Tulane University, and was Chief Operating Officer of Children's Television workshop, the producers of Sesame Street, and other television programs for children. He is the author of several books on the management of nonprofit organization.

Curtis A. Harris-Class of '78
Mr. Harris is a Director and member of the Citation Group, a Division of Merrill Lynch & Company. A 15-year veteran of Wall Street he has previously worked as a public finance investment banker servicing state and local communities throughout the country. Mr. Harris resigned as a U.S. Army Captain and received his MBA in Finance and Marketing in 1985 from the University of Pennsylvania's Wharton School. Mr. Harris is also a member of the Executive Leadership Council, a national membership organization of senior -level African American corporate men and women of major U.S. companies that provide unique insight into a variety of issues that affect American business.

James Kiss
Mr. Kiss is a senior public affairs professional and a specialist in business to government, government to government public affairs. From 1977 to 1981, he was a member of the White House Business/Public Affairs Advisory Group.

Herbert Lichtenberg - Class of '55
Mr. Lichtenberg is President of S. Lichtenberg & Co., Inc., manufacturers of curtains and draperies. The Lichtenberg Indoor Tennis Center at West Point bears his name.

William F. Murdy - Class of '64
Mr. Murdy is an independent venture capitalist and a member of several corporate and charitable Boards. He is a member of the West Point Board of Visitors and a Trustee Emeritus of the AOG (Association of Graduates), USMA (United States Military Academy).

Pamela Newman
Ms. Newman is Executive Vice President of Aon Risk Services. She is an international insurance broker specializing in Fortune 500 clients worldwide. Ms. Newman serves on the Board of Directors of RKO Pictures, Inc., and on the Corporate Board of Carnegie Hall.

Bernard F. Reynolds
Mr. Reynolds is Chairman and Chief Executive Officer of ASI Solutions, Inc., a company he co-founded in 1978. Before ASI, he served as Senior Vice President for Human Resources Training at Prudential Securities and prior to that, at Dean Witter Reynolds. Mr. Reynolds serves on the Advisory Board of Save the Children and is a member of the Council of Stewards of the Archdiocese of Rockville Center.

William H. Roedy - Class of '70
Mr. Roedy is President of MTV Networks International. In this position, he oversees all of MTV Networks' growing international businesses and channel operations for the multi-media brands MTV, Nickelodeon and VH1. Through his extensive travels and advocacy for social responsibility, Mr. Roedy became an Ambassador for UNAIDS in 1998. He leads MTV's global efforts to promote HIV and AIDS education, fight complacency and lessen the stigma attached to the disease.

Elihu Rose, Ph.D.
Mr. Rose is a Partner of Rose Associates, Inc., a real estate investment and management firm which builds, owns and operates residential and commercial properties in the metropolitan New York area, Boston and Washington, DC. For the past fifteen years he has been an Adjunct Professor of Military History at both Columbia University and New York University.

Bonnie Schweppe - Class of '83
Ms. Schweppe was a member of the fourth graduating class of women from West Point. She served eight years in the military and nine years in the pharmaceutical/medical industry. She is currently a senior BOTOX Medical Consultant with Allergan, Inc. She also serves on the Board of Governors for the West Point Society of New York.

William J. vanden Heuvel
Ambassador vanden Heuvel is Counsel to the law firm of Stroock & Stroock & Lavan as well as Senior Advisor to Allen and Company. He has served as Deputy U.S. Permanent Representative to the United Nations and as U.S. Representative to the European Office of the U.N. He is a member of the Council on Foreign Relations, Chairman of the Franklin and Eleanor Roosevelt Institute and Chairman of the Council of American Ambassadors.