John McPherson

JOHN MCPHERSON is Vice President and Assistant Portfolio Manager at
Pioneer Investment Management, Inc. He joined Pioneer in 2002 and
assists in the management of the small cap value portfolios. Prior to
joining Pioneer, Mr. McPherson was employed by Middleton & Company as
part of a team responsible for managing equity assets for high net worth
clients. Prior to Middleton, Mr. McPherson was a member of the Small Cap
Team at Evergreen Investment Management in the role of an Equity
Analyst. He began his career in 1990 with Pell, Rudman & Co., Inc., as
an Equity Analyst covering a variety of industries spanning the market
capitalization spectrum. Mr. McPherson earned his BS from Northeastern
University and he is completing MBA graduate studies in Finance at
Babson College. He is a Chartered Financial Analyst.

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December 13, 2004