F. Scott Valpey

F. SCOTT VALPEY is a founder and Executive Vice President of AZZAD
Management, Inc., a privately held investment management firm
headquartered in Falls Church, Virginia. He is the Portfolio Manager of
the AZZAD/Dow Jones Ethical Market Fund, an enhanced index mutual fund
based on the extra liquid version of the Dow Jones Islamic Market Index,
launched on October 16, 2000. Mr. Valpey practiced as a professional
pension and investment Consultant from 1983 to 1999. He was registered
as a general securities Principal (NASD Series 24) and owned a private
investment management practice associated with Raymond James Financial
Services, Inc., member NASD/SIPC, a division of Raymond James Financial,
member New York Stock Exchange, a publicly traded company from 1990 to
1998. Previously, Mr. Valpey was Director of Pension Services for
Johnston, Lemon & Company, Incorporated, an investment-banking firm in
Washington, DC. He has professionally managed assets for private
individuals, corporations, pension funds, institutions and foreign
investors since 1983. Mr. Valpey and his family reside in Alexandria,
Virginia.