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AARON rLETCFfER <br />Vice President <br />Ana/ytics - 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 of all open market securities, portfolio returns, market fluctuations <br />and the compliance requirements for municipal debt issuers. <br />Prior to Southwest Securities, fvfr. 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 />coilateralized mortgage obiigations and various other open market securities. <br />fVlr. Fletcher holds a Master of Business Administration degree from University of Memphis, Memphis, Tennessee <br />and a Bachelor of Science from University of Kentucky, Lexington, Kentucky. <br />{U~~RY JANE DOETZ <br />Documentation Analyst <br />Public Finance Department - Da!las, Texas <br />(214) 859-6803 <br />Mary Jane Dietz joined Southwest Securities in November 1997 and has fifteen years of experience in the field of <br />public finance disciosure documentation. fVls. Dietz works closely 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 responsibilities inciude assisting in the preparation and implementation 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. Following the completion of each bond sale, Ms. Diefz 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. Additionaily, Ms. Dietz annually notifies and assists issuers in the preparation <br />and filing of their annual required SEC Rule 952c-12 Continuing Disclosure documents. <br />Ms. Dietz holds bachelor's degrees from Texas Wesleyan University and The University of Texas at Ariington and a <br />master's degree from Southern Niethodist University. <br />SO(6THWEST SEC(lR9T6ES <br />