Mr. Frank Holmes is Chairman, Chief Executive Officer and Chief Investment Officer of U.S. Global Investors, Inc. U.S. Global Investors, a registered investment adviser, manages approximately $2 billion in 13 no-load mutual funds for U.S. Global Investors Funds and U.S. Global Accolade Funds. Four of these funds, Eastern European Fund (EUROX), World Precious Minerals Fund (UNWPX), Global Resources Fund (PSPFX) and Gold Shares Fund (USERX), were recently ranked #1, #2, #3 and #5, respectively, for the three-year period as of December 31, 2004.

Prior to purchasing controlling interest of U. S. Global, Mr. Holmes had extensive experience, in-depth knowledge and multiple responsibilities in the investment-banking world. Mr. Holmes’ many responsibilities included research analyst, portfolio manager and managing director of corporate finance with a Canadian investment dealer. He has a very specialized knowledge with a unique expertise in resource-based industries and money management.

He was formerly President and Chairman of the Toronto Society of the Investment Dealers Association and a member of the Toronto Stock Exchange's Listing Committee. Mr. Holmes has also been a member seat holder on the leading stock exchanges in Canada.

Mr. Holmes has been a keynote speaker at countless national and international investment conferences as well as a guest commentator on the financial television networks CNBC, CNN, Bloomberg TV and Report on Business TV (ROBtv). Mr. Holmes has also been quoted and profiled in many financial publications such as The Wall Street Journal, Barron’s, Investor’s Business Daily and the Financial Times.

An avid runner, basketball player and scuba diver, Mr. Holmes has recently run the New York City, Paris and Rome Marathons.