Martin J. Whitman

MARTIN J. WHITMAN, a veteran value investor, is Chairman and Chief
Investment Officer of Third Avenue Funds. He is Portfolio Manager of
Third Avenue Value Fund and co-Manager of Third Avenue Small Cap Value
Fund and Third Avenue Real Estate Value Fund. In addition to the above,
Mr. Whitman is Chairman of M.J. Whitman, Inc. He was a Distinguished
Management Fellow at the Yale School of Management. Mr. Whitman began
his career at Shearson, Hammill in 1950. For the next 20 years, he held
positions with several firms before founding M.J. Whitman & Co., Inc.,
the predecessor firm to the broker-dealer he remains Chairman of today.
Mr. Whitman is the author of books and articles on security analysis and
investment banking and has lectured in many forums. Morningstar named
Mr. Whitman Mutual Fund Manager of the Year in 1994. He graduated from
Syracuse University Magna Cum Laude in 1949 with a Bachelor of Science
degree. He received a Master’s degree in Economics from the New School
for Social Research in 1956. Mr. Whitman is a Chartered Financial

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Martin Whitman - Third Avenue Funds
November 13, 2000