###### KAREL JANECEK

Mr. Karel Janecek, MBA, Ph.D. serves as Chief Executive Officer of RSJ a.s. Mr. Janecek's main responsibilities are to develop and implement mathematical trading algorithms, and to design the strategy and vision for RSJ. He founded RSJ in 1994. From 1998 to 2000, he worked for a hedge fund Market Research, Ltd. as a mathematical analyst and from 2004 to 2005, he served as Researcher in the Austrian Academy of Sciences. He teaches graduate courses in Financial Mathematics for the Faculty of Mathematics and Physics at Charles University in Prague, Czech Republic. He also publishes research articles in scientific journals in the area of applied stochastic calculus. Mr. Janecek is a Ph.D. graduate in the field of „Mathematical Finance" of the prestigious Carnegie Mellon University in Pittsburgh. He graduated from the Faculty of Mathematics and Physics of Charles University in Prague in the field of Probability and Mathematical Statistics. He is also an MBA in finance graduate of Bradley University, Peoria, USA.