Bruce C. Williams

BRUCE C. WILLIAMS is a Partner with L. Roy Papp & Associates, and has
been associated with the firm since 1986. He has over 23 years of
experience in portfolio management and investment analysis. Prior to
joining the firm, he was an Assistant Vice President and Trust Officer
with First Oklahoma Bancorporation, where he served for almost 10 years.
Mr. Williams holds a BA degree in Business Administration from
Vanderbilt University. He serves on the Board of Trustees of the Arizona
Chapter of the Nature Conservancy and is a member of AIMR and the
Phoenix Society of Financial Analysts. Mr. Williams is a Chartered
Financial Analyst.