The May 20th 2004 meeting’s topic is:

“MODELING FOREIGN CURRENCY MARKETS FOR RISK MANAGEMENT.”

MR. MICHAEL WILCOX, CFA, is the President of Alford Associates, Inc., a research and consultancy firm specializing in foreign exchange analysis. Prior to founding Alford Associates, Mr. Wilcox was an international equity portfolio manager and the head of Global Asset Allocation at State Street Global Advisors in Boston. Before that, he spent 10 years on Wall Street, 5 years of that as head of Quantitative Research in the Equity Research Department at Morgan Stanley. Mr. Wilcox holds a Master’s degree in Economics from Trinity College in Hartford.