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Frank Liu Managing Director, Tano China Capital Management, Inc. Mr. Liu has over 19 years of experience in the banking, securities and mutual fund industries. He is president of Franklin/Templeton Securities Investment Consulting (SinoAm) Inc., as well as a director of the Franklin Templeton First Taiwan Securities Investment Trust Enterprise. Mr. Liu joined Franklin Templeton Investments Group in 1988 and was appointed Templeton International Incorporated’s (“FTI”) chief representative in China at its Beijing Representative Office in October 1997. In this role, he was responsible for negotiations on behalf of FTI with prospective JV partners to establish operations for FTI in the People’s Republic of China. He currently oversees corporate development and business operations as an independent director. Prior to joining Franklin Templeton, Mr. Liu spent six years in banking, working in the international trade financing business. Mr. Liu received a Masters of Business Administration from California State University at Hayward in 1981, and a Bachelor of Arts in Political Science from SooChow University, Taiwan. |

