Untitled - Irish Stock Exchange

Baumgarten earned a B.S. in economics with concentrations in finance and accounting from the University
of Pennsylvania in 1998.
Thomas R. Colwell, CFA, Director and High Yield Bond Analyst, is a member of the Bank Loan and
High Yield Group. Mr. Colwell's primary responsibility is originating and evaluating bank loan investments
for the firm's collateralized bond obligations as well as any special situations. Prior to joining BlackRock in
2004, Mr. Colwell, was assistant portfolio manager at Alcentra, Inc. where he co-managed approximately
$700 million of leverage loan assets in two cash flow CDOs. He began his investment career at PNC Bank
where he held several roles in the International Banking Division and the Leveraged Finance and National
Corporate Banking Groups. Mr. Colwell earned a B.A. in economics from the College of William and Mary
in 1983 and an M.B.A. in international management, with a concentration in finance, from the American
Graduate School of International Management (Thunderbird) in 1985.
Eric Gold, Director and High Yield Bond Analyst, is a member of the high yield credit research team
within the global credit research group. He covers the automotive and utility sectors. Prior joining
BlackRock in 2006, Mr. Gold was a Portfolio Manager at Forest Investment Management, a multi-strategy
hedge fund where he oversaw investments in distressed investing, capital structure arbitrage and credit
long/short in the telecommunications, cable, media, lodging, entertainment, leisure and paper sectors. From
1997 to 2003, Mr. Gold was a high yield analyst at Grantchester Securities covering telecommunication
companies. He was ranked by Institutional Investor Magazine as the #1 analyst in his sector for four
consecutive years. Earlier in his career, Mr. Gold held positions with Moody's Investors Service, Chase
Securities, and Smith Barney. Mr. Gold earned a BA degree in economics from Vassar College in 1985 and
a MBA degree in finance from New York University in 1987.
Frank Gordon, Esq., CFA, CPA, Director, is a member of BlackRock's high yield team. Mr. Gordon has
primary responsibility for the administration of structured finance entities managed by the Bank Loan and
High Yield Group, including compliance monitoring, legal affairs and financial and shareholder reporting.
Mr. Gordon has been involved in BlackRock's high yield and mezzanine efforts since their inception.
Before joining the firm's high yield effort, Mr. Gordon was the controller of Anthracite Capital, Inc., a
publicly-owned real estate investment trust managed by BlackRock. Prior to joining BlackRock in 1998, Mr.
Gordon was an attorney in the Structured Finance department of Skadden, Arps, Slate, Meagher & Flom
LLP. From 1987 to 1990, Mr. Gordon was Vice President in the Fixed Income Research department of The
First Boston Corporation. From 1983 to 1986, Mr. Gordon was a senior accountant at Deloitte Haskins &
Sells. Mr. Gordon earned a B.S. degree in economics from the Wharton School of the University of
Pennsylvania in 1983, and an M.B.A., with honors, and a J.D. degree from The University of Chicago in
1992 and 1994, respectively.
James E. Keenan, Director and High Yield Portfolio Manager and Trader, is a member of the
Investment Strategy Group. Mr. Keenan's primary responsibilities are managing client portfolios, executing
trades and ensuring consistency across high yield portfolios. Prior to joining BlackRock in 2004, Mr.
Keenan worked as a senior high yield trader at Columbia Management Group. Mr. Keenan began his
investment career at UBS Global Asset Management where he held different roles as a trader, research
analyst and a portfolio analyst from June 1998 through July 2003. Mr. Keenan earned a B.B.A. in finance
from the University of Notre Dame in 1998.
David Delbos, Vice President and High Yield Bond Analyst, is a member of the global credit research
group. Mr. Delbos covers the packaging, transportation, industrials, building materials and supermarket
sectors. Prior to joining BlackRock in 2002, Mr. Delbos was a financial analyst in the mergers and
acquisitions group of Deutsche Bank Securities Inc. Mr. Delbos earned a B.A. in economics from Tufts
University in 2000.
Alvaro Ramirez, Vice President and High Yield Bond Analyst, is a member of the global credit research
team. Mr. Ramirez is responsible for the aerospace/defense and food/beverage sectors. Prior to joining
BlackRock in 2004, Mr. Ramirez was a credit research analyst for Trimaran Advisors covering the media
and healthcare sectors. Mr. Ramirez started his career in 1999 as a financial analyst in the leveraged finance
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