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Kenneth Frappier was elected in December 2006 to serve as Chief Credit Officer of RAIT. Mr. Frappier served as Senior Vice President-Portfolio and Risk Management of RAIT from April 2002 through December 2006. From December 1999 until he joined RAIT, Mr. Frappier was a Senior Vice President and Regional Chairman of the Senior Officers’ Loan Committee in Pennsylvania and Southern New Jersey for Hudson United Bank (a commercial bank), following the merger of Hudson United Bancorp (a bank holding company) and JeffBanks, Inc., (a bank holding company) of which Mr. Frappier had been Senior Vice President since 1993. Before 1993, Mr. Frappier was an Executive Vice President for Dominion Bancshares Corporation’s (Dominion) Greater Washington Region (Northern Virginia, Washington, D.C. & Maryland) and, before the acquisition of State National Bank (State) by Dominion in 1987, he was Senior Vice President and Senior Lender at State. Before 1977, he was a National Bank Examiner for the Comptroller of the Currency, a bureau of the U.S. Treasury Department. | 