Mr. C. Michael Armstrong was elected Chairman of the Board and CEO of AT&T in November, 1997. At AT&T, he heads the world's leading communications services company, with more than 80 million customers, 120,000 and some $51 billion in revenues. In addition, he serves as Chairman of the U.S.-Japan Business Council. Armstrong came to AT&T from Hughes Electronics, where he had been chairman and CEO for six years, transforming it from a company focused mainly on defense to a powerful competitor in the commercial electronics, space and telecommunications industries. Prior to Hughes, Armstrong spent more than three decades with IBM. Beginning there as a systems engineer, he rose through the ranks to become senior vice president and chairman of the board of IBM World Trade Corporation. Earlier, he played major roles in IBM's personal computer and telecommunications businesses. Born October 18, 1938, in Detroit, Michigan, Armstrong earned a B.S. degree in business and economics from Miami University of Ohio in 1961, and completed the advanced management curriculum at DartmouthInstitute in 1976. He was awarded honorary Doctor of Laws degrees from Pepperdine University in 1997 and Loyola Marymount in 1998. An active supporter of higher education, Armstrong is a trustee of Johns Hopkins University and a member of the advisory board of the Yale School of Management. Armstrong serves as chairman of the President's Export Council, the premier national advisory committee on international trade to President Clinton and the Secretary of Commerce. He is also a member of the Council on Foreign Relations, the National Security Telecommunications Advisory Committee and the Defense Policy Advisory Committee on Trade. Armstrong is a member of the board of directors of Travelers Corporation, and the supervisory board of the Thyssen-Bornemisza Group. Mr. W. Bowman Cutter has been with Warburg Pincus since March 1996. Prior to joining Warburg, Pincus, Mr. Cutter was Deputy Assistant to the President for Economic Policy (National Economic Council). Mr. Cutter served as Executive Associate Director for Budget at OMB during the Carter Administration. Mr. Cutter was also a Partner with Coopers & Lybrand where he was Vice Chairman of Strategy, Managing Partner of the Firm's Strategic Services, and a member of the Firm's Council. He is Chairman of the Global Information Infrastructure Commission, which is affiliated with the Center for Strategic and International Studies. Additionally, he is a member of the Council on Foreign Relations, the Advisory Board of the Woodrow Wilson School at Princeton University, and the Board of Directors of the Immigration and Refugee Services of America. Mr. Cutter is a Director of CARE, and also a Director with VITA (Volunteers in Technical Assistance). Mr. Robert F. Grondine serves as a partner in the Tokyo Office of White & Case, a major international law firm. A long-time Tokyo resident, he concurrently serves as President of the American Chamber of Commerce in Japan. His legal practice focuses on corporate, commercial and financial transactions, with an emphasis on asset-based structured finance and tax-effective finance transactions. In 1999 Mr. Grondine advised General Motors on its 20% investment and strategic alliance with Fuji Heavy Industries, Cable & Wireless plc on its acquisition of IDC and Mattel on its 5% investment and strategic alliance with Bandai. Mr. Grondine has assisted Japanese companies in acquiring plants and companies in various countries, as well as setting up distribution and licensing networks, establishing subsidiaries and reorganizing corporate operating structures. In the area of leveraged lease financing, Mr. Grondine is recognized as one of the leading experts on Japanese cross-border equipment leasing, a market in which he has been involved since its inception in 1985-86. Mr. Grondine also has substantial experience advising on project financings involving Japanese parties as sponsors, lenders and EPC contractors. This experience has involved the Japan Bank for International Cooperation (formerly JEXIM), as well as representation of sovereign governments in the restructuring of debt to Japanese lenders. Over the past fifteen years Mr. Grondine has lectured broadly in both English and Japanese on all aspects of equipment leasing in Japan, legal issues in doing business in Japan by foreign companies and in the United States by Japanese companies as well as broader legal, political and cultural aspects of the US-Japan trading relationship. He has served as a lecturer on international taxation at the National Tax College of Japan. Mr. Grondine graduated with a A.B., magna cum laude, Dartmouth College, 1974; and a J.D., magna cum laude, Boston University Law School, 1980. He also studied at Cornell University Graduate School of Arts & Sciences, 1974-75, FALCON Program for Japanese language and the Harvard Law School, 1979-80, East Asian Legal Studies Program. Mr. Noboru Hatakeyama assumed the position of Chairman and CEO of the Japan External Trade Organization (JETRO) in June, 1998. Previously he served in distinguished postings including: Vice Minister for International Affairs, Japanese Ministry of International Trade and Industry (MITI) from 1991; Director-General, International Trade Policy Bureau, MITI from 1989; Director-General, Basic Industries Bureau, MITI from 1988; Director-General, International Trade Administration Bureau, MITI from 1986; Director-General, Petroleum Department, Agency of Natural Resources and Energy, MITI from 1984, Secretary to then Prime Minister Zenko Suzuki (1980); and Executive Director of the Japan External Trade Organization (JETRO) Chicago Center (1974). In recognition of his accomplishments, Mr. Hatekayama was awarded the Grand Cross of the Order of Merit for Distinguished Services, Republic of Peru in January, 2000; the Grand Cross of the Order Vasco Nunez de Balboa, Republic of Panama in August, 2000; and the Grand Cross of the San Carlos Order, Republic of Colombia in September, 2000. Mr. Hatekayama graduated with a degree from Tokyo University, Faculty of Law in 1959 and entered MITI that same year. He is the author of a book entitled “Trade Negotiation, Drama Around National Interest”, which was published in Japanese by th Nihon Keizai Shimbum, Inc. Mr. Kiyoto Ido currently serves as the Minister (Financial) at the Embassy of Japan in Washington. Previously, he served as the Deputy Director General, International Department of the Japanese Ministry of Finance (MOF) and the Deputy Vice Minister for International Affairs in 1998; Director of the General Coordination Division, MOF (1997); Director, Development Policy Division, MOF (1996); Director, Development Finance Division, MOF (1994-96); Director, Development Institutions Division, International Bureau, MOF (1993); Deputy General Manager, Finance Department, Inter-American Development Bank, Washington, D.C. (1989-1993); Deputy Director of various divisions in MOF (1983-89) and Consul, Consulate General of Japan in Frankfurt, Germany. Mr. Ido graduated from the Tokyo Institute of Technology with a degree in Mathematics in 1973 and entered the MOF that same year. He also undertook a Doctorate course in Business at the University of Saarbrucken in Germany from 1975 to 1977. Ms. Noriko Iki serves as the Director, Public Employment Service Division, Employment Security Bureau, Japanese Ministry of Health, Labor and Welfare. Previously she served as Director, Administrative Affairs Division, Women’s Bureau, Japanese Ministry of Labor; and Director, Foreign Worker’s Affairs Division, Japanese Ministry of Labor. Mr. Richard Katz is Senior Editor of The Oriental Economist Report, a monthly newsletter on Japan published by Toyo Keizai America, and a special correspondent at Shukan Toyo Keizai, a leading Japanese business weekly. A veteran journalist, he has written on Japan and U.S.-Japan relations for 25 years in both Japanese and American national publications. He doubles as a Visiting Lecturer in Economics at the State University of New York (SUNY) at Stony Brook. Mr. Katz is the author of Japan: The System That Soured--The Rise and Fall of the Japanese Economic Miracle (M.E. Sharpe 1998). A Japanese edition was published in 1999 under the title Kusariyuku Nihon To Iu System (Toyo Keizai Shimposa). The book has received favorable reviews from such publications as the Wall Street Journal, Business Week, Nihon Keizai Shimbun, Asahi Shimbun, Toyo Keizai, The Japan Quarterly, The Journal of Japanese Studies and the Far Eastern Economic Review, among others. Mr. Katz received his B.A. degree in History from Columbia University in 1973, and went on to obtain his M.A. in Economics at New York University (NYU) in 1996. Mr. Hidehiro Konno assumed the position of Vice Minister for International Affairs, Ministry of Economy, Trade and Industry (METI) earlier this year. Previously he served as Director-General, International Trade Policy Bureau, Ministry of International Trade and Industry (MITI) from 1998; Director-General, International Trade Administration Bureau, MITI (1997); Director-General for Commerce and Distribution Policy, MITI (1996); Director-General, Economic Cooperation Department, MITI (1994); Deputy Director-General, International Trade Administration Bureau, MITI (1993); Director, Personnel Division, Minister's Secretariat, MITI (1992); Director, General Affairs Division, Machinery and Information Industries Bureau, MITI (1991); Director, International Economic Affairs Division, International Trade Policy Bureau, MITI (1988); Director, Aircraft and Ordnance Division, Machinery and Information Industries Bureau, MITI (1986) and First Secretary, Embassy of Japan, Washington, D.C. Mr. Konno graduated from Tokyo University with a degree in International Relations and entered MITI in 1968. Mr. Alan Larson is the first career Foreign Service Officer to serve as Under Secretary of State for Economic, Business, and Agricultural Affairs. As the senior economic advisor to Secretary Powell, Mr. Larson (His responsibilities include the entire range of international economic policy.) Since joining the Department of State in 1973, Mr. Larson has served in senior positions dealing with economics, trade, finance, energy, sanctions, transportation and telecommunication. From 1990 to 1993, Mr. Larson was U.S. Ambassador to the Organization for Economic Cooperation and Development in Paris. He also served in the economic sections of the U.S. embassies in Jamaica, Zaire, and Sierra Leone. Mr. Larson has a Ph.D. in economics from the University of Iowa. He is married and has three children. Mr. Minoru Ben Makihara was appointed as the Chairman of Mitsubishi Corporation in 1998 after serving as the President and CEO from 1992 to 1998. Previously he held a number of senior positions at Mitsubishi including President of Mitsubishi International Corporation (MIC) in 1987 and General Manager of the Washington Office of MIC in 1971 and 1985. In addition to his distinguished career at Mitsubishi, Mr. Makihara currently serves as Chairman of the Japan-U.S. Business Council. He also serves as Vice Chairman of Keidanren (The Japanese Federation of Economic Organizations) and Nikkeiren (Japanese Federation of Employers Association). In addition, he is a board member of IBM, Ripplewood Holdings L.L.C., the Shinsei Bank, Ltd. and Ayala Corporation. Concurrently he is a member of the Investment Council of President Mbeki of South Africa, the Millenian Board of President Pastrana of Colombia, The International Advisory Council of Allianz AG, the Asia Pacific Advisory Council of the New York Stock Exchange, Chairman’s Council of DaimlerChrysler AG, and the Executive Committee for the Japanese Side of the Trilateral Commission. Mr. Makihara graduated with a B.A. from Harvard University in 1954 and joined Mitsubishi Corporation in 1956. Mr. Arthur Mitchell is a Partner and head of the Japan Practice Group at Coudert Brothers, a multi-national law firm. Mr. Mitchell has dealt with matters related to Japan for over thirty-two years. He has lived and worked in Japan for over ten years. While there, he studied Japanese politics at the International Christian University and Japanese law at Kyoto University, under a Japanese Ministry of Education grant. He also served as a personal secretary to Masayoshi Ohira, one of Japan’s Ministers. Mr. Mitchell is responsible for overseeing Coudert’s practice related to Japan and is extensively involved in transactions involving the Internet and e-commerce, cross-border financial transactions and the creation of joint ventures with Japanese parties. He maintains a Japanese Cyber Law Webpage and writes numerous articles on topics related to Japan. Mr. Mitchell earned a B.A. from the University of California, Berkeley, and a J.D. from the Harvard Law School. He has taught courses on Japanese law and interpretation of Japanese legal documents at Columbia University’s Parker School of International and Comparative Law. He is a member of the Council on Foreign Relations and the Japan Society. Mr. Yoshinobu Nisaka assumed the position of Deputy Director-General, Trade Policy Bureau at the Japanese Ministry of Economy, Trade and Industry (METI) earlier this year. Previously, he served as the Director of the Policy Division at the Japanese Economic Planning Agency (EPA) in 1999; Director, General Affairs Division (1998) and ) and Counsellor for the Project Team (1997), Consumer Goods and Services Industries Bureau at the Japanese Ministry for International Trade and Industry (MITI); Director, Second Domestic Research Division, EPA in 1995; Director, Europe-Africa-Middle East Division, International Trade Policy Bureau, MITI (1994); Director, Import Division, International Trade Administration Bureau, MITI (1992); Deputy Director General; Japan External Trade Organization (JETRO), Milano Center, Italy (1989); Deputy Director, Electronics Policy Division, Machinery and Information Industries Bureau, MITI (1988); Deputy Director, General Affairs Division, Director-General’s Secretariat; National Land Agency (1987); Deputy Director, General Affairs Division, International Trade Administration Bureau, MITI (1986); Deputy Director, Iron and Steel Division, Basic Industries Bureau, MITI (1983); Deputy Director, Personnel Division, Minister’s Secretariat, MITI, (1983); and Deputy Director, General Affairs Division, International Trade Policy Bureau (1981). Mr. Nisaka graduated with a B.A. in Economics from the University of Tokyo in 1974 and entered MITI that same year. Mr. Toshiyuki Ohto assumed the position of Director of Corporate Accounting and Disclosure, Planning and Coordination Bureau, Japanese, Financial Services Agency in July, 2000. Previously he served as Counselor of the Minister’s Secretariat, Financial System Planning Bureau, Japanese Ministry of Finance (MOF) in 1999; Budget Examiner, Budget Bureau, MOF (1998); Director of the Second Remuneration Division, Renumeration Bureau, National Personnel Agency (1995); Director for Fiscal Investment and Loan Program, Minister’s Secretariat, MOF (1992); Deputy Director, Legal Division, Budget Bureau, MOF (1988); Deputy Director, Commercial Bank Division, Banking Bureau, MOF (1985); District Director of the Tatsuno Tax Office (1982); and with the Coordination Division, Budget Bureau, MOF (1977). Mr. Masamitsu Shiseki assumed the position of Counsellor, Civil Affairs Bureau, Japanese Ministry of Justice (MOJ) in April, 2000. Previously, he served as an Attorney, Civil Affairs Bureau, MOJ from 1990-2000; Judge, Tokyo District Court from 1989-1990; Judge, Yamagata District and Family Court from 1986 to 1989; and Judge, Osaka District Court from 1984 to 1986. Mr. Hideyuki Suzuki serves as the General Manager, Planning and Development Department of the Japanese Pension Fund Association and Ministry of Health, Labor and Welfare. Previously he served as the General Manager, Fund Management Activities Department, The Pension Welfare Services Public Corporation; and Director, Office of Public Information, Minister’s Secretariat, Japanese Ministry of Health and Welfare. Mr. Hidefumi Yamagami assumed the position of General Manager and Chief Economist of the Research Office of The Bank of Tokyo-Mitsubishi (BTM) in July, 2000. Previously he served in a number of positions at BTM including: General Manager, Research Division (1998); Deputy General Manager, International Credit Division (1997), International Credit Division, No. 2 (1996) and the Overseas Corporate Finance Division (1995); Deputy Managing Director, The Bank of Tokyo International Ltd. London and Deputy Managing General Manager, The Bank of Tokyo Ltd. London Office (1991) and Counselor and Resident Managing Director’s Office (1994); and Deputy General Manager, Personnel Division (1990). He has also served in The Bank of Tokyo Ltd. in various capacities in the: Personnel Division (1988), Capital Markets Division-1 (1987); Planning Division (1986 and 1977); Business Planning Division (1985); as Secretary to the President, General Secretariat (1985); The Bank of Tokyo Trust Co., New York (1982); Corporate Banking Division No. 2 (1979); and Operations Center, International Division (1974). Mr. Yamagami graduated with a bachelors degree in economics from the University of Tokyo in 1972 and joined The Bank of Tokyo Ltd. that same year. He also holds an MBA degree for the University of California at Berkeley (1977) and has studied at the Economics Institute at the University of Colorado at Boulder.