K. Larry Hastie, President

Educational Background:

1964 B.A., DePauw University
Economics Major

1966 M.B.A., Cornell Graduate School of Business Administration
Finance Major

1969 Ph.D. Cornell University
Managerial Economics Major, International Finance Minor

Business Background and Experience:

1976-79   Vice President, Treasurer, Bendix Corporation
1979-81   Vice President, Human Resources, Bendix Corporation
1981-82   Vice President, Corporate Development, Bendix Corporation
1982-85   President, Hastie & Associates
1982-85   Registered Investment Advisor
1983-85   Chairman and CEO, MediClinic Corp
1985-86   Chief Financial Officer, J.P. Industries
1986-90   Executive Vice President, Michigan National Corporation
1990-       President, Pattern Recognition Management, Inc.

Mr. Hastie was Executive Vice President of Michigan National Bank responsible for the bank's $3 billion trust business; its discount brokerage, investment advisory, venture capital and strategic planning activities; and the bank's investment portfolio. Under his supervision, 3 money market funds were started which grew to more than $400 million in assets in their first year; he acquired one investment advisory business and doubled its size in two years to more than $400 million.

He has authored 6 articles, including ones on the municipal bond market, portfolio management, acquisitions, technology management and financial management education. Mr. Hastie served on the Board of the Ann Arbor Hands-On Museum, including Treasurer for many years and President. He is past president of the Financial Management Association - a national group organized to bring the academic and corporate/financial community closer together.

Mr. Hastie has served on both sides of the investment business - first on the corporate and private client side, where he was involved in hiring, monitoring, and firing money managers and - second, on the money management side managing money, supervising other money managers and creating new investment approaches. This unique background enables him to understand and explain how different investment approaches can be used to meet different clients needs and objectives.

Securities offered through Mutual Service Corporation, Member NASD/SIPC. Investment advisory services offered through Pattern Recognition Management, Inc., a registered investment advisor.