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AARON FL~~CHER <br />Vice President <br />Analytics - Dallas, Texas <br />(214) 859-9480 <br />Mr. Fletcher has over eleven years experience in the tax-exempt bond market, debt structuring and compliance <br />reporting. Mr. Fletcher is responsibie for determining feasibility of and optimum structure for new debt financings <br />and refundings. He has a strong understanding ofi all open market securities, portfolio returns, market fluctuations <br />and the compliance requirements for municipal debt issuers. <br />Prior to Southwest Securities, Mr. Fletcher was with Ernst & Young located in Dallas, Texas and Memphis, <br />Tennessee. While at Ernst & Young, Mr. Fletcher was a Manager in the firm's Arbitrage Rebate Group, where he <br />was experienced in the analysis of invested tax-exempt bond proceeds in treasury and agency securities, <br />guaranteed investment contracts, repurchase agreements, SLG's variable/fixed rate swap/hedge transactions, <br />collateralized mortgage obligations and various other open market securities. <br />fVir. Fletcher holds aMaster of Busin2ss Administration degree from University of Memphis, Memphis, Tennessee <br />and a Bachelor of Science from University of Kentucky, Lexington, Kentucky. <br />NiARY ~ANE DoE°Cp <br />Documentation Analyst <br />Public Finance Deparfinent - Dallas, Texas <br />(214) 859-6803 <br />Mary Jane Dietz joined Southwest Securities in iJovember 1997 and has fifteen years of experience in the field of <br />public finance disciosure documentation. IVis. Dietz works ciosely with the issuer, financial advisor, attorneys; rating <br />agencies and bond insurance representatives to insure the accurate and timely preparation and distribution of bond <br />offering documents. Her respansibilities inciude assisting in the preparation and impiementation of the timetable for <br />a bond issue and requesting and compiling disclosure information from various sources for inclusion in offering <br />documents. She prepares the preliminary and final official statements and arranges for their printing and electronic <br />Internet posting and distribution. Foilowing the completion of each bond sale, Ms. Dietz prepares and distributes the <br />necessary closing documents for payment and delivery of bond issue proceeds and provides issuers with updated <br />debt service summary information. Additionally, Ms. Dietz annually notifies and assists issuers in the preparation <br />and filing of their annual required SEC Rule 152c-12 Continuing Disclosure documents. <br />iVis. Dietz holds bachelor's degrees from Texas Wesleyan University and The University of Texas at Arlington and a <br />master's degree from Soufhern Methodist University. <br />_ 152 <br />SoUTHWEST SECURITIES <br />~ <br />