James E. Clark
Chairman of the Board

Mr. Clark has been Chairman of the Fund since May 2003 and previous to that, was Vice Chair and lead outside trustee since the Fund’s inception in 2002. He has been a director or principal of Arctic Glacier Inc. and its predecessor companies since 1989. Mr. Clark is a member of the Audit Committee and Compensation Committee.

Robert J. Nagy
Vice Chairman

Mr. Nagy is a trustee and Vice Chairman of the Arctic Glacier Income Fund. He was a founder of The Arctic Group Inc. in 1996 and a principal of a number of predecessor companies since 1986. Mr. Nagy has 35 years in the industry and brings extensive strategic and operational experience to his role as architect and leader of Arctic Glacier's acquisition and product branding strategies.

Mr. Nagy was Chief Executive Officer since 1996 and added the title of President in August 2002. He has been a trustee of the Fund since its inception in 2002 and was Chairman until May 2003. Mr. Nagy was Chairman of the Board of The Arctic Group Inc. from 1996 to 2002.

Mr. Nagy retired from management effective December 29, 2006.

The Honourable Gary A. Filmon P.C., O.C., O.M.

Mr. Filmon is Vice Chairman of Wellington West Capital Inc. of Winnipeg. He is a director of Manitoba Telecom Services Inc., Canadian Natural Resources Limited and FWS Construction, a trustee of Pollard Banknote Income Fund and Chairman and a trustee of Exchange Industrial Fund. Mr. Filmon is Chairman of Canada’s Security and Intelligence Review Committee. He was Premier of the Province of Manitoba from 1988 to 1999.

Mr. Filmon has been a trustee of the Fund since its inception in 2002 and was Vice Chairman of the Fund from May 2003 to December 2006. He was a director of The Arctic Group Inc. from 2000 to 2002. Mr. Filmon is Chair of the Audit Committee and a member of the Corporate Governance Committee.

David R. Swaine

Mr. Swaine was President of Roynat Business Capital Inc. in Charlotte, North Carolina, since October 2003 until December 2007. He was Executive Vice President and Chief Operating Officer and a director of Roynat Inc. of Toronto from July 1994 until October 2003.

Mr. Swaine has been a trustee of the Fund since its inception in 2002 and previously was a director of The Arctic Group Inc. from 1999 to 2002. Mr. Swaine is Chair of the Compensation Committee and the Corporate Goverance Committee and a member of the Audit Committee.