Mr. Palmer co-founded North American Funds in 1989. He also is the Managing Partner of North American Company Ltd., a Florida-based partnership owned by an entrepreneurial Florida and Chicago-based family which is a major investor in North American Funds and also owns several small companies and engages in real estate development and investments. He has held that position since 1972. Mr. Palmer has developed significant managerial and financial skills in his 30 plus years of experience in the fields of business development and venture capital. Prior to joining North American Company Ltd., Mr. Palmer was a founder, Vice President and, subsequently, a Director of Heizer Corporation. Heizer was the nation's largest independent business development firm. Previously, he was with the Private Placement Division of Allstate Insurance Company and with Price Waterhouse & Co. Mr. Palmer has served on the Boards of Directors of numerous small and large companies, both private and public. He is a Director of all of the private companies in which North American has an investment. Public companies of which he has been or is a Director include Minnesota Educational Computing Corporation (MECC), The Learning Company, Inc., Allied Capital Corporation, Commercial Corp.,and SunTrust Bank/South Florida, N.A. He is a former Director of the National Venture Capital Association. Mr. Palmer has a B.S.B.A. from Georgetown University and an M.B.A. from Northwestern University.