Notice to SHAREHOLDERSAugust 31, 2008 (unaudited)Directors and Officers of the <strong>Funds</strong>Independent DirectorsName, Address, andYear of BirthBenjamin R. Field IIIP.O. Box 1329Minneapolis, MN55440-1329(1938)Position(s)Heldwith <strong>Funds</strong>DirectorTerm of Officeand Length ofTime ServedTerm expiring earlier of death,resignation, removal,disqualification, or successorduly elected and qualified.Director of FAF sinceSeptember 2003Principal Occupation(s)During Past 5 YearsRetired; Senior <strong>Financial</strong> Advisor, BemisCompany, Inc. from May 2002 throughFebruary 2004Number of Portfoliosin Fund ComplexOverseen by DirectorFirst American <strong>Funds</strong>Complex: twelve registeredinvestment companies,including sixty-two portfoliosOtherDirectorshipsHeld byDirector †NoneRoger A. GibsonP.O. Box 1329Minneapolis, MN55440-1329(1946)DirectorTerm expiring earlier of death,resignation, removal,disqualification, or successorduly elected and qualified.Director of FAF since October1997Director, Charterhouse Group, Inc., a privateequity firm, since October 2005; VicePresident and Chief Operating Officer, Cargo-United Airlines, from July 2001 throughretirement in June 2004First American <strong>Funds</strong>Complex: twelve registeredinvestment companies,including sixty-two portfoliosNoneVictoria J. HergetP.O. Box 1329Minneapolis, MN55440-1329(1951)DirectorTerm expiring earlier of death,resignation, removal,disqualification, or successorduly elected and qualified.Director of FAF sinceSeptember 2003Investment consultant and non-profit boardmemberFirst American <strong>Funds</strong>Complex: twelve registeredinvestment companies,including sixty-two portfoliosNoneJohn P. KayserP.O. Box 1329Minneapolis, MN55440-1329(1949)DirectorTerm expiring earlier of death,resignation, removal,disqualification, or successorduly elected and qualified.Director of FAF since October2006Retired; Principal from 1983 to 2004, WilliamBlair & Company, LLCFirst American <strong>Funds</strong>Complex: twelve registeredinvestment companies,including sixty-two portfoliosNoneLeonard W. KedrowskiP.O. Box 1329Minneapolis, MN55440-1329(1941)DirectorTerm expiring earlier of death,resignation, removal,disqualification, or successorduly elected and qualified.Director of FAF since November1993Owner and President, Executive andManagement Consulting, Inc., a managementconsulting firm; Board member, GCMcGuiggan Corporation (dba SmythCompanies), a label printer; former ChiefExecutive Officer, Creative PromotionsInternational, LLC, a promotional awardprograms and products company, throughOctober 2003First American <strong>Funds</strong>Complex: twelve registeredinvestment companies,including sixty-two portfoliosNoneRichard K. RiedererP.O. Box 1329Minneapolis, MN55440-1329(1944)DirectorTerm expiring earlier of death,resignation, removal,disqualification, or successorduly elected and qualified.Director of FAF since August2001Owner and Chief Executive Officer, RKRConsultants, Inc. and non-profit boardmember since 2005First American <strong>Funds</strong>Complex: twelve registeredinvestment companies,including sixty-two portfoliosClevelandCliffs Inc (aproducer ofiron orepellets)Joseph D. StraussP.O. Box 1329Minneapolis, MN55440-1329(1940)DirectorTerm expiring earlier of death,resignation, removal,disqualification, or successorduly elected and qualified.Director of FAF since April1984Attorney At Law, Owner, and President,Strauss Management Company, a Minnesotaholding company for various organizationalmanagement business ventures; Owner,Chairman, and Chief Executive Officer,Community Resource Partnerships, Inc., astrategic planning, operations management,government relations, transportation planning,and public relations organization; Owner,Chairman, and Chief Executive Officer,Excensus(TM), LLC, a strategic demographicplanning and application development firmFirst American <strong>Funds</strong>Complex: twelve registeredinvestment companies,including sixty-two portfoliosNoneVirginia L. StringerP.O. Box 1329Minneapolis, MN55440-1329(1944)Chair; DirectorChair Term three years.Directors Term expiring earlierof death, resignation, removal,disqualification, or successorduly elected and qualified.Chair of FAF’s Board sinceSeptember 1997; Director ofFAF since September 1987Governance consultant and non-profit boardmember; former Owner and President,Strategic Management Resources, Inc., amanagement consulting firm; ExecutiveConsultant to State Farm Insurance Companythrough 2003First American <strong>Funds</strong>Complex: twelve registeredinvestment companies,including sixty-two portfoliosNone48 FIRST AMERICAN FUNDS 2008 Annual Report
Independent Directors – concludedName, Address, andYear of BirthJames M. WadeP.O. Box 1329Minneapolis, MN55440-1329(1943)Position(s)Heldwith <strong>Funds</strong>DirectorTerm of Officeand Length ofTime ServedTerm expiring earlier of death,resignation, removal,disqualification, or successorduly elected and qualified.Director of FAF since August2001Principal Occupation(s)During Past 5 YearsOwner and President, Jim Wade Homes, ahomebuilding companyNumber of Portfoliosin Fund ComplexOverseen by DirectorFirst American <strong>Funds</strong>Complex: twelve registeredinvestment companies,including sixty-two portfoliosOtherDirectorshipsHeld byDirector †† Includes only directorships in a company with a class of securities registered pursuant to Section 12 of the Securities Exchange Act or subject to the requirements of Section 15(d) of theSecurities Exchange Act, or any company registered as an investment company under the Investment Company Act.The Statement of Additional Information (SAI) includes additional information about fund directors and is available uponrequest without charge by calling 800-677-FUND or writing to First American <strong>Funds</strong>, P.O. Box 1330, Minneapolis,Minnesota, 55440-1330.NoneFIRST AMERICAN FUNDS 2008 Annual Report 49
Change language