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Photo Gallery January 1, 2007

Annual Summer Conference

Pittsburgh Stock and Bond Association

<p>Welcome</p><p>Chris Erfort, Twin Capital Management,</p><p>Pittsburgh.</p> <p>Transaction Cost Analysis</p><p>John Wightkin, QSG, Naperville.</p> <p>Introduction<br> Bob Wagner, PSBA President, Ferris Baker Watts,<br> Pittsburgh.</p> <p>STA Update<br> Lisa Utasi, ClearBridge Advisors, New York.</p>
<p>Frank Randazza, Stifel Nicolaus; Bill Wagner, Ferris Baker Watts; Joe Molinero,</p><p>Morgan Stanley, all Pittsburgh.</p> <p>Kevin Monahan, JPMorgan, New York; John DeMarino Mellon Financial,</p><p>Pittsburgh; Greg Sniechowski, JPMorgan, New York.</p> <p>Wanda Staytert, Mellon Financial, Pittsburgh;</p><p>Scott Murray, Hudson Securities, Jersey City.</p> <p>Paula Mahoney, Mellon Financial, Pittsburgh;</p><p>Irene Pajer, The Interstate Group, Charlotte.</p>
<p>Don Cottage, Pipeline, Boston; Cathy Andreas, Federated Investors,</p><p>Pittsburgh; Ben Grenier, Pulse Trading, Boston.</p> <p>Tracy and Tim King, Highmark; Joe Mycka, Federated Investors all Pittsburgh.</p> <p>Beth Emswiler, Citi, New York; Jennifer Setzenfand, Federated Investors,</p><p>Pittsburgh; Chris Wasson, Stifel Nicolaus, Baltimore.</p> <p>Joe Cunningham, Proshares, Bethesda; Scott Rister, Jim Collins, both Charles</p><p>Schwab Institutional, Detroit.</p>
<p>Frank Burke, Janney Montgomery Scott; Mary</p><p>Beth Feduska, Azroc Securities, both Pittsburgh.</p> <p>Zandy Reich, Steve Leo, both Goldman Sachs,</p><p>New York.</p> <p>Pat Heagy, Joe Mycka, both Federated Investors,</p><p>Pittsburgh.</p> <p>Kevin Monahan, JPMorgan, New York; John and Renee DeMarino, Mellon</p><p>Financial, Pittsburgh; Greg Smiechowski, JPMorgan, New York; JR Moore,</p><p>Instinet, New York.</p>
<p>Diane Startari, Jennifer</p><p>Setzenfand, both Federated</p><p>Investors; Wanda Staytert,</p><p>Mellon Financial, all Pittsburgh.</p> <p>Lynn Kunz, Bob Wagner, both Ferris Baker Watts,</p><p>Pittsburgh.</p> <p>Bob German, Retired; Mary Ann Fusco, BNY</p><p>Mellon, both Pittsburgh.</p> <p>James Schneider, Bear Stearns; Sal Patanio,</p><p>Thomas Weisel, both New York.</p>
<p>Pat Dolan, NYFIX Millenium; JJ Allingham, Goldman Sachs; James Rae,</p><p>Credit Suisse; Sean Buckley, NYFIX Millenium, all New York.</p> <p>Debbie Madden, guest; Frank Randazza, Stifel Nicolaus; Brendan Madden,</p><p>Mallory Marx, both guests.</p> <p>Jennifer Setzenfand, Federated Investors; Chris Wasson, Weston Boone, both</p><p>Stifel Nicolaus, Baltimore; Dean Karabogias, Stifel Nicolaus, Cleveland.</p> <p>Alan and Debbie Bost, Hefren Tillotson; Sandy Kuchma, PNC Bank;</p><p>Terry Wolfe, CS McKee, all Pittsburgh.</p>
<p>Black Jack Table</p> <p>Texas Hold’em</p> <p>J.R. Moore, Instinet, New York; Bob Mahoney, thinkorswim, Boston;</p><p>Tommy Lukacovic, Benchmark, New York.</p> <p>Poker</p>
<p>Black Jack</p> <p>Roulette</p> <p>Holly and Chris Erfort, Twin Capital Management; Marsha Molinero, guest,</p><p>all Pittsburgh.</p> <p>Terry Wolfe, CS McKee, Pittsburgh; Phil Geha,</p><p>JonesTrading, Heathrow.</p>
<p>Bob and Whitney Wagner, Ferris Baker Watts,</p><p>Pittsburgh.</p> <p>John Schneider, Bloomberg, New York; Tom Armstrong, National City,</p><p>Pittsburgh; Jim Lynch, Bloomberg, New York.</p> <p>Mike Smith, Don Heckman, Rob O’Shea, all BNY ConvergEx, New York.</p> <p>Brendan Madden, Stephanie Pugliese, both Make A Wish Foundation;</p><p>Bob Madden, Guest, all Pittsburgh.</p>
<p>Jim Dillon, Brian Pears, Randy Decko, all NYFIX, New York; Steve Leo,</p><p>Goldman Sachs, Jersey City.</p> <p>Tim King, Highmark, Pittsburgh; Brian Poole, Instinet, St Louis; Bill Wagner,</p><p>Ferris Baker Watts, Pittsburgh; Don Cottage, Pipeline, Boston.</p> <p>Dave Fallgren, Quaker Capital, Pittsburgh; Kevin Matson, Instinet, New York;</p><p>Chris Erfort, Twin Capital Management, Pittsburgh; Brad Bierman, Instinet,</p><p>New York.</p> <p>Craig McRoberts, Tim Davis, both Hefren Tillotson; Frank Randazza, Stifel</p><p>Nicolaus, Bonny Fox, Merrill Lynch (Retired), all Pittsburgh.</p>
<p>Patrick Fallon, National City; Kevin Dehler, HSBC; Joe Mycka, Federated</p><p>Investors; Brian Brubaker, Dollar Bank, all Pittsburgh.</p> <p>Andy Kirschler, Federated Investors, Pittsburgh; James Rae, Credit Suisse,</p><p>New York; Chris Bodamer, Bob Nolte, both Federated Investors, Pittsburgh.</p> <p>John Conroy, Wachovia, Pittsburgh; Scott Rister, Schwab Institutional, Detroit;</p><p>Bob Wagner, Ferris Baker Watts, Pittsburgh; Jim Collins, Schwab Institutional,</p><p>Detroit.</p> <p>Christian Torres, J. Gadsden, Jim Lynch, John Schneider, all Bloomberg,</p><p>New York.</p>
<p>Treasurer, Joe Mycka, Federated</p><p>Investors; President, Bob Wagner,</p><p>Ferris Baker Watts; Vice President,</p><p>Chris Erfort, Twin Capital</p><p>Management; Secretary, Debbie</p><p>Bost, Hefren-Tillotson.</p> <p>Phil Geha, JonesTrading, Heathrow; Paula Mahoney, Mellon Financial,</p><p>Pittsburgh; Bob Mahoney, ThinkorSwim, Boston; Fran Greenberg, BNY</p><p>ConvergEx; Lisa Utasi, ClearBridge Advisors, both New York.</p> <p>Lisa Yanief, Mellon Financial, Pittsburgh; George Mosby, Tim Nersten, both</p><p>Liquidnet, New York; Peter Yanief, Guest, Pittsburgh.</p> <p>Tim Dillon, NYFIX; J.J. Allingham, Goldman Sachs; Brian Pears, NYFIX,</p><p>all New York.</p>
<p>Sal Patanio, Thomas Weisel, New York; Steve Simmons, Terra Nova Financial,</p><p>Chicago, Mark Verlangieri, Merrill Lynch, New York.</p> <p>Christian Torres, Jim Lynch, both Bloomberg,</p><p>New York; Frank Burke, Janney Montgomery</p><p>Scott, Pittsburgh.</p>

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