Independent Review Committee

The Manager, on behalf of the Funds, has established an Independent Review Committee (IRC) to provide impartial judgment where the Manager is faced with any actual or perceived conflict of interest between itself and the Funds. The IRC is currently comprised of Cameron Belsher, Edwin Buss and Brian Kenning.

Cameron Belsher, LL.B.

Mr. Belsher has practiced corporate, securities and commercial law in Vancouver for over 20 years and is a senior partner with McCarthy Tetrault LLP.

Mr Belsher has extensive experience in public and private financings and mergers and acquisitions for senior and junior market issuers. He has been named by the Lexpert/American Media Guide for several years as one of the top 500 lawyers in Canada and one of only three lawyers in Vancouver named in the area of corporate finance, securities , private equity and mergers and acquisitions. He was also recently named by Lexpert as one of the country’s Top 100 Canada-U.S. cross border deal lawyers.

Mr Belsher is a graduate of Osgoode Hall Law School.

Edwin Buss

Mr. Buss joined Investors Group in 1962 and worked in progressively senior positions including Chief Compliance Officer. In May 1980 he was appointed Manager of Investment Administration, a position he held until his retirement in January, 1999.

Mr. Buss completed the Canadian Securities Course in 1972 and completed various Supervisory and Management Development Programs throughout his career at Investors Group.

Brian G. Kenning

Over the past ten years, Mr. Kenning has served as Director of a number of public and private corporations and is currently a Director of McDonald Dettwiler & Associates, a Director of the British Columbia Railway Company, British Columbia Ferry Services Inc., FT Capital and Royal Oak Ventures Inc.

Until 2005, Mr. Kenning was a Managing Partner of Brookfield Asset Management with operations in the real estate, asset management and power generation sectors. He remains a Corporate Director and a Director of Brookfield Asset Management Advisory Board.

Prior to that Mr. Kenning was Chairman and Managing Partner of B.C. Pacific Capital Corporation, a Brookfield affiliate active in merchant banking and investing, as well as holding several senior positions, including President, at Versatile Corporation, a large diversified industrial manufacturing company.

In addition, Mr. Kenning is a past Governor of the B.C. Business Council and a past Director of the B.C. chapter of the Institute of Corporate Directors.

Mr. Kenning graduated from Queen's University with an MBA in 1973.