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Mr. Derbes has been a director since May 2003. He was head of Morgan Stanley’s Investment Banking client coverage for the Chemical Industry from 1986 until he retired in December 2001 (except for about a year and a half in 1993-1994, when he was with Gleacher & Co.). Prior to that, he was a sell-side equity research analyst for Morgan Stanley and other investment banks from 1976 until 1985. He was a member of the Institutional Investor All-American Team for the chemical industry for nine years. He has been an advisor to the MSCP funds on numerous chemical opportunities. Mr. Derbes is a member of Class II of the board of directors. | 