Charles B. Johnson
Chairman, Franklin Resources, Inc.

Charles B. Johnson is chairman and director of Franklin Resources, Inc., and chairman and director of various Franklin Templeton funds. Mr. Johnson received a BA degree from Yale University in 1954 in economics and political science. He served in the U.S. Army from 1955-1957 as a First Lieutenant, Army Artillery. He joined Franklin Distributors, Inc. as president and chief executive officer in 1957 and assumed those positions with Franklin Resources when it was organized in 1968. Mr. Johnson served as CEO until December 2003. He is a member of the New York Society of Security Analysts. In 1992 he was elected Chairman of the National Association of Security Dealers (NASD) and served on various committees and boards of the NASD (including Nasdaq) from 1988-2002. He served on the Board of Governors of the Investment Company Institute (ICI) from 1973-1988. Mr. Johnson serves as a member of the Board of Overseers of the Hoover Institution at Stanford University. He is also a board member of the San Francisco Symphony, Bay Area Council and other Bay Area civic organizations. He served as Northern California Chairman of the U.S. Olympic Committee in 1992, on the boards of the Peninsula Community Foundation from 1986-1996 and the Commonwealth Club of California from 1994-1997, and as a trustee of Crystal Springs Uplands School from 1985-1993.