Bernstein Investment Research And Management

Bernstein Investment Research And Management, a unit of Alliance Capital Management L.P., traces its roots back to 1967. Bernstein manages portfolios for private and institutional investors and is a premier provider of investment research for leading money managers worldwide. Bernstein specializes in value-oriented approaches to the market: buying securities priced lower than what our research indicates their companies' long-term prospects warrant. It is a style complementary to Alliance's growth orientation: seeking securities of companies with histories of superior earnings growth assessed likely to continue.

The opportunity to diversify by style is one element in a comprehensive package of services available to our clients in the global equity and bond markets and in investment planing. Bernstein and Alliance manage some $470 billion for individuals, families and some of the nation's most prominent institutions.

CAM DAVIS: Mr. Davis is a Vice President and Principal with Bernstein. Mr. Davis specializes in helping high net worth individuals, closely held businesses, pension plans and charitable foundations to tailor their investment strategies for their long-term goals, bearing in mind their individual tolerance for risk. Mr. Davis is an attorney and holds a Master of Business Administration.