ROBERT C. RUOCCO

Robert C. Ruocco has more than 20 years of experience in distressed securities research and investing and over 29 years of total investment and banking experience. He began his career at Manufacturers Hanover Trust Company as a Credit Officer. Later, Mr. Ruocco worked for five years at Chemical Bank, the last three in the Restructuring Group of the Corporate Finance Department before joining M.J. Whitman & Co. Inc. in 1989 as Director of Research in distressed securities investing. In January 1993, Mr. Ruocco joined Carl Marks Management Company as a General Partner and Portfolio Manager.

Mr. Ruocco earned a BA in Economics from Dartmouth College in 1980.