Rupert H. Johnson, Jr. is Vice Chairman, Member - Office of the Chairman and Director of Franklin Resources, Inc. He serves as an officer, director and trustee of some of the subsidiaries of Franklin Resources, Inc. and of 47 of the investment companies in Franklin Templeton Investments. He is also Chairman and Director of Franklin Templeton funds. Mr. Johnson joined Franklin in 1965 after serving as an officer in the United States Marine Corps. Mr. Johnson is a graduate of Washington and Lee University. He is a member on the board of United Religions Initiative and the BASIC Fund. He has served as a member of the executive committee as well as the Board of Governors of The Investment Company Institute. He also served on the board of the San Francisco Zoological Society and has been active with the Asian Art Museum of San Francisco. He is a former trustee of both Santa Clara University and Washington and Lee University.

Moberg is a Vice President, Portfolio Manager and Research Analyst of Franklin Advisers, Inc. He provides research and advice on the purchases and sales of individual securities, and portfolio risk assessment. He joined Franklin Templeton Investments in 1998. Moberg holds the Certified Public Accountant designation. Mr. Moberg earned his B.A. in history from Washington and Lee University and an M.B.A. with distinction from the University of Michigan.