Rating Research LLC (RRC) Board of Directors

STEPHEN A. GREYSER
Richard P. Chapman Professor of Business Administration at Harvard Business School
Professor Greyser is a world-renowned expert specializing in consumer marketing, advertising, corporate reputation and corporate communications and sports management. He has been active in research and teaching at HBS for many years, where he also received his undergraduate, MBA and DBA degrees. Professor Greyser is responsible for fourteen books including Advertising in America: The Consumer View (with Raymond A. Bauer) and numerous monographs. He is a frequent contributor to journals on marketing, advertising and business/consumer attitudes and has published some 300 Harvard case studies. He is a frequent lecturer in the U.S. and overseas at prestigious forums such as the House of Lords in 1996 where he made an address on corporate reputation, and two years later, delivered the first Lord Goold Memorial Lecture in London on "Advancing and Enhancing Corporate Reputation". He has been on the Board of many institutions, currently serving the brokerage firm Gruntal & Co., in addition to RRC.

MICHAEL J. CONNOR
Chairman, Chief Executive Officer and President, Market News International
Mr. Connor joined Market News International in 1989 as Chief Financial Officer and was appointed to the position of CEO and President in March, 1993. He was elected Chairman of the MNI Board of Directors in September of 2001. Prior to joining the company, Mr. Connor was the Manager of Planning and Development for the Corporate Bond Rating Department of Moody's Investors Services. Before joining Moody's, Mr. Connor was employed at Merrill Lynch Capital Markets. He is also a member of the Board of Governors of the Money Marketeers of New York University. He is an active member of the Bond Market Association.

JOHN F. SHORT
Chairman and Chief Executive Officer, Opinion Research Corporation
Mr. Short was elected Chairman and CEO of Opinion Research Corporation (ORC), a global measurement-based marketing services firm, in 1999. Joining the company in 1989, Mr. Short held a number of senior financial, operations and executive positions within the firm. In 1999, he was named Chief Financial Officer and elected a member of the company's Executive Committee and Board of Directors. He was given the additional title of Vice Chairman in 1992 and, in June 1998, was elected President. Mr. Short has been instrumental in contributing to ORC's dynamic growth and strategic positioning through the acquisition of market research organizations on three continents, an IPO in 1993, the addition of teleservices and the firm's expansion into social research, among other achievements. Prior to joining ORC, Mr. Short spent 20 years with Burroughs Corporation and the Hay Group where he was Chief Financial Officer.

SCOTT DOUGLASS
Mr. Douglass, the founder of RRC, brings extensive experience in the rating business model. He ran a variety of rating groups at Moody's Investors Service. While at Moody's, he headed the Structured Finance and International Rating Groups, and most recently, the Marketing & Communications Group. He was a member of the senior executive management team at Moody's for over ten years. Mr. Douglass is credited with creating many of the planning, marketing and selling strategies that increased Moody's operating profits at an annual rate in excess of 15% from 1980 through 2000. While at Moody's, he established a variety of new rating systems in a number of new markets around the world.

MATTHEW MOLÉ
Mr. Molé was Vice President & General Counsel of Moody's Investors Service from 1987 through 1998. He was a member of the senior executive management team at Moody's for 12 years, serving on the executive and other senior committees. Prior to joining Moody's, Mr. Molé was a partner in a Wall Street law firm specializing in corporate securities and international law. Mr. Molé's corporate law expertise is coupled with his experience in strategic, regulatory, corporate governance and ethics initiatives.

JEFF RESNICK
Mr. Resnick has over 20 years of experience in the market research industry. Prior to spearheading Opinion Research Corporation's participation in RRC, Mr. Resnick was the Chief Executive Officer for ORC International's US Group. Mr. Resnick has broad familiarity with the financial services sector and has specifically managed numerous research projects in the bond rating industry. He also brings significant operational experience in managing large research projects globally. He has served as a senior advisor to the executive teams for many of his clients. Mr. Resnick has also been a frequent speaker on topics of brand equity, corporate reputation and client loyalty.