Elizabeth M. Lilly

ELIZABETH M. LILLY became a co-Founder and Managing Partner of Woodland
Partners, an investment management firm located in Minneapolis,
Minnesota, in 1996. Prior to that time, she spent four years at First
Asset Management (division of US Bancorp), first as manager/analyst for
FAM’s core value portfolio, and then assumed the additional
responsibility of co-managing the FAM small capitalization value
portfolio. Ms. Lilly began her investment career with Goldman Sachs and
Co. in 1985 and subsequently worked for Fund American Companies and St.
Paul Companies before joining FAM in 1992. She holds a BA in Economics
and graduated with high honors from Hobart/William Smith College. Ms.
Lilly is a Chartered Financial Analyst.