The Pacific Capital Funds of Cash Assets Trust - Board of Trustees

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Board of Trustees

Thomas W. Courtney	Diana P. Herrmann	Stanley W. Hong

Theodore T. Mason Chair	Russell K. Okata	Douglas Philpotts

Oswald K. Stender

Thomas W. Courtney - President, Courtney Associates, Inc., a venture capital firm, since 1988. Other Directorships held by Trustee: Chairman of the Board of Oppenheimer Quest Value Funds Group, Oppenheimer Small Cap Value Fund, Oppenheimer Midcap Fund, and Oppenheimer Rochester Group of Funds; Chairman of the Board of Premier VIT.
Diana P. Herrmann - Vice Chair and Chief Executive Officer of Aquila Management Corporation, Founder of the Aquila Group of Funds and parent of Aquila Investment Management LLC, Administrator, since 2004, President and Chief Operating Officer since 1997, a Director since 1984, Secretary since 1986 and previously its Executive Vice President, Senior Vice President or Vice President, 1986-1997; Chief Executive Officer and Vice Chair since 2004 and President, Chief Operating Officer and Manager of the Administrator since 2003; Chair, Vice Chair, President, Executive Vice President or Senior Vice President of funds in the Aquila Group of Funds since 1986; Director of the Distributor since 1997; trustee, Reserve Money-Market Funds, 1999-2000 and Reserve Private Equity Series, 1998-2000; Governor, Investment Company Institute (a trade organization for the U.S. fund industry dedicated to protecting shareholder interests and educating the public about investing) and head of its Small Funds Committee since 2004; active in charitable and volunteer organizations. Other Directorships held by Trustee: ICI Mutual Insurance Company.
Stanley W. Hong - President, Waste Management of Hawaii, Inc. and Corporate Vice President - Hawaii Area for Waste Management, Inc., 2001-2005; Trustee, The King William Charles Lunalilo Trust Estate since 2001; President and Chief Executive Officer, The Chamber of Commerce of Hawaii, 1996-2001; Director, PBS - Hawaii Foundation since 1998; Regent, Chaminade University of Honolulu since 1991; Trustee, Heald College since 1998; Trustee, the Nature Conservancy of Hawaii since 1998; Trustee, Child and Family Service since 2005; Director, The East West Center Foundation since 2006; and a director of other corporate and community organizations. Other Directorships held by Trustee: Trustee, Pacific Capital Funds, which includes 12 bond and stock funds; First Insurance Co. of Hawaii, Ltd., Lanihau Properties, Ltd., The Westye Group – West (Hawaii), Inc.
Theodore T. Mason - Executive Director, East Wind Power Partners LTD since 1994 and Louisiana Power Partners, 1999-2003; Treasurer, Alumni Association of SUNY Maritime College since 2004 (President, 2002-2003, First Vice President, 2000-2001, Second Vice President, 1998-2000) and director of the same organization since 1997; Director, STCM Management Company, Inc., 1973-2004; twice national officer of Naval Reserve Association; commanding officer of four naval reserve units and Captain, USNR (Ret); director, The Navy League of the United States New York Council since 2002; trustee, The Maritime Industry Museum at Fort Schuyler, 2000-2004, and the Maritime College at Fort Schuyler Foundation, Inc. since 2000. Other Directorships held by Trustee: Trustee, Premier VIT.
Russell K. Okata - Executive Director, Hawaii Government Employees Association AFSCME Local 152, AFL-CIO since 1981; International Vice President, American Federation of State, County and Municipal Employees, AFL-CIO since 1981; director of various civic and charitable organizations. Other Directorships held by Trustee: Trustee, Pacific Capital Funds, which includes 12 bond and stock funds; Chairman, Royal State Group (insurance).
Douglas Philpotts - Retired; formerly director, Chairman of the Board and President of Hawaiian Trust Company, Limited; a predecessor of The Asset Management Group of Bank of Hawaii; present or former director of various Hawaii-based civic and charitable organizations. Other Directorships held by Trustee: Trustee, Pacific Capital Funds, which includes 12 bond and stock funds.
Oswald K. Stender - Director, Hawaiian Electric Industries, Inc., a public utility holding company, 1993-2004; trustee, the Bernice Pauahi Bishop Estate 1990-1999; trustee, Office of Hawaiian Affairs and a member or trustee of several community organizations. Other Directorships held by Trustee: Trustee, Pacific Capital Funds, which includes 12 bond and stock funds; director, Grace Pacific Corporation, an asphalt paving company, ACE Trucking Inc. and Hawaiian Telecom, a telephone company (communications).

Click Here to see the Trust's Nominating Committee Charter which governs how Trustees are selected. (In order to view the charter, you must have Adobe Acrobat Reader. To download this program, free of charge, please visit http://www.adobe.com/products/acrobat/readstep.html.)

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