MICHAEL HAMILTON is the Portfolio Manager of Tax-Free Trust of Oregon. Mr. Hamilton is currently a director and senior portfolio manager of FAF Advisors, Inc. (formerly known as U.S. Bancorp Asset Management, Inc.), the Trust's Investment Sub-Adviser. Mr. Hamilton has been associated with the Trust since 1992, previously assisting in administration and credit analysis.

He has managed municipal bond common trust funds/mutual funds, individual municipal bond portfolios, taxable portfolios and money market funds. He holds a B.A. from College of Idaho and a M.B.A from Western Washington University.

Mr. Hamilton is based in Portland, Oregon, which enables him to maintain a careful watch over the Trust's portfolio investments. He frequently travels throughout the state to check on current and prospective investments. Mr. Hamilton has been a resident of Oregon for over 10 years.