SUSAN L. BLACK, CFA, CIC
Managing Director
Responsibility:
   Portfolio Management and Research, Private Client Group
Years of Experience: 38
   Century Capital Associates: Partner
   Drexel, Burnham, Lambert: V.P., Research
   Donaldson, Lufkin & Jenrette: V.P., Research
   Argus Research: Ass't. Director of Research
Year Started with Warburg Pincus: 1985
B.A. – Mount Holyoke College

ELIZABETH B. DATER
Managing Director
Responsibility:
   Small-Cap Equity Portfolio Management and Research
Years of Experience: 28
   Fiduciary Trust Company: V.P., Research
   Lehman Brothers: Institutional Sales Assistant
 Year Started with Warburg Pincus: 1978
B.A. – Boston University

GREGG M. DILIBERTO
Managing Director
Responsibility:
   Head of US Core Fixed Income
Years of Experience: 22
   Buck Consultants: Asset/Liability Consultant
Year Started with Warburg Pincus: 1984
B.S. – State University of New York at Plattsburgh

P. NICHOLAS EDWARDS
Managing Director
Responsibility:
   International Equity Portfolio Management and Research
Years of Experience: 16
   Jardine Fleming Investment Advisors, Tokyo:
   Director & Senior Analyst
   Robert Fleming Inc., New York: Vice President,
   Head of Japanese Institutional Sales
   Jardine Fleming Securities, Tokyo:
   Manager & Senior Analyst
Year Started with Warburg Pincus: 1995
M.A. Equivalent – Hiroshima University, Japan
B.A. – Wadham College, Oxford University

STEPHEN J. LURITO
Managing Director
Responsibility:
   Small-Cap Equity Portfolio Management and Research
Years of Experience: 14
   Sanford C. Bernstein & Co., Inc.: Analyst
Year Started with Warburg Pincus: 1987
M.B.A. – The Wharton School, University of Pennsylvania
B.A. – University of Virginia

HAROLD E. SHARON
Managing Director
Responsibility:
   International Equity Portfolio Management and Research
Years of Experience: 16
   Oppenheimer & Co.: Portfolio Manager
   Warburg Pincus: Research Analyst and  Associate Portfolio Manager
   Credit Suisse Asset Management: Investment Officer
   Batterymarch: Associate
Year Started with Warburg Pincus: 1998
M.S. – The Sloan School of Management
B.A. – University of Rochester

LAURENCE R. SMITH, CFA
Managing Director
Responsibility:
   Global Chief Investment Officer
Years of Experience: 19
   JP Morgan Investment Management:
       Managing Director, Global
   Head of Asset Allocation and Balanced Account
       Management Worldwide
Year Started with Warburg Pincus: 1999
B.S. - University of Florida
M.B.A. – University of California at Berkeley

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