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Mr. Ellwood a director of FelCor since its formation in 1994 was the founder and President of R.S. Ellwood & Co. Inc. a real estate investment banking firm that he operated from 1987 through 2004. Prior to 1987 as an investment banker Mr. Ellwood was elected successively in 1963 a vice president of Morgan Guaranty Trust Company in 1968 a general partner of White Weld & Co. in 1978 a managing director of Warburg Paribas Becker Incorporated and in 1984 a managing director and senior banker of Merrill Lynch Capital Markets. Mr. Ellwood has extensive experience in hotel financing. He was a founder of Hotel Investors Trust a REIT and served as a trustee from 1970 until its merger with another REIT in 1987. He is currently a director of Apartment Investment and Management Company. | 