First Fiduciary Investment Cousel, Inc. [ Bios ]


	Mary F. Anderson, President Mrs. Anderson, a portfolio manager for the firm, has spent over twenty-three years in the investment business. Before joining First Fiduciary in 1993, Mrs. Anderson was a portfolio manager for a local money management firm. She has held positions of sell-side security analyst and portfolio manager for Roulston & Company where she spent 10 years of her career. She is a CFA charterholder and member of the CFA Society of Cleveland. She holds a B.B.A. from Cleveland State University.
	Sonia H. Mintun, Vice President Mrs. Mintun is a portfolio manager for the firm and has been in the investment business for over fifteen years. Prior to joining First Fiduciary, she was an analyst/portfolio manager for The Proper Analysis. Mrs. Mintun has held positions as a portfolio manager and head of high yield trading for Westinghouse Credit as well as an Assistant Vice President and portfolio manager for Shearson Lehman Brothers. She is a CFA charterholder and member of the CFA Society of Cleveland. She previously was a writer for Street Insights, a subsidiary of theStreet.com. She received a B.S. in Accounting and Finance from Lehigh University. Mrs. Mintun is a member of the Leadership Committee at Hawken School.
	Ivan Gelfand, Fixed Income Adviser Mr. Gelfand, associated with First Fiduciary since mid-2003, is advisor and manager of our fixed income accounts. In many minds, Ivan Gelfand is known as the “Father” of institutional cash management. His entrepreneurial talents, along with his investment expertise, were evident with the formation of two successful investment advisor or money management companies. In 1975, Mr. Gelfand founded Gelfand, Quinn & Associates, Inc., a cash management firm that he later sold to Prudential Bache, Inc. In 1990, Mr. Gelfand founded Gelfand Partners Asset Management and in 1997 merged with Maxus Investment Group. Maxus was then merged into Fifth Third Bank. Mr. Gelfand is past President of the Cleveland Association for Business Economics and a past member of the Cleveland Society of Security analysts. He is listed in a number of prominent business directories. Mr. Gelfand is a graduate of Miami University, Oxford, Ohio with a B.S. in Business. He is also a graduate of the Columbia University School of Banking and attended the Case Western Reserve University graduate school. Visit ivangelfand.com for more information about Ivan.

First Fiduciary Investment Counsel, Inc. · 1375 East Ninth Street, Suite 2450 · Cleveland, Ohio · 44114

Phone: (216) 623-7700

Fax: (216) 623-6351