John -

We have hired the following Associates and Analysts for the Portland office.

Associates

Name			School			Start Date	 	Job
Mohammed Elafandi	Duke University		5/1/01			Real Time
Chris Mumm		Univ of Oregon		7/30/01			Structuring
Todd Bland 		Texas A&M		5/21/01			Real Time (summer intern)

Analysts

Name 			School			Start Date		Job
Fredrik Eriksson		Univ of Portland		1/16/01			Origination
Crystal Hyde		Univ of Florida		2/5/01			Origination (rotation from Houston)
Marina Tchernokojeva	Washington State	5/21/01			Volume Mgmt (summer intern)
Scott Freeman		Univ of TX		5/28/01			ST California (summer intern)
James Bruce		Univ of Oregon		7/16/01			Structuring
Serena Bishop		Univ of Portland		7/16/01			ST California
Darren Cavanaugh	Univ of Oregon		7/16/01			Volume Management
Nick Warner		Oregon State Univ	7/16/01			Risk Management

If you require any additional information, please let me know.

Amy