SALVATORE (SAL) C. DiSANTO (left) and JEFFREY (JEFF) K. HANNA (right) are the Co-Portfolio Managers of Narragansett Insured Tax-Free Income Fund.

Mr. DiSanto, a native Rhode Islander, has been the Fund's Portfolio Manager since its
inception in 1992. He is a Senior Vice President with Citizens Investment Advisors (the Sub-Adviser to the Fund), a department of Citizens Bank of Rhode Island, and is a member of its Trust Investment Committee. He has been employed by Citizens for 48 years and has been involved in portfolio management for the last 41 years. For many years, Mr. DiSanto has served as a member of both the American Heart Association (R.I. affiliate) Finance Committee and the Providence Society of Analysts Federation, as well as maintaining an active role in numerous other civic organizations.

Jeff Hanna has been with Citizens Bank since 1998 and has over 17 years of investment experience. He was previously with Citizens Treasury Group where he was responsible for managing over $1.5 billion in assets and liabilities with a focus on fixed income securities. He holds a B.B.A. in Economics from The University of Rhode Island and graduated with High Honors from the BAI School, Madison, Wisconsin in 1993. He was awarded the Chartered Financial Analyst designation in 1999 and is currently President of the Providence Society of Financial Analysts. He is also on the investment committee for Neighborhood Health Plan of RI.

Both Mr. DiSanto and Mr. Hanna are based in Providence, Rhode Island, which enable them to maintain a careful watch over the Fund's portfolio investments. They frequently travel throughout the state to check on current and prospective investments.