STEPHEN GRUNDLINGH, Regional Head (South East Asia) TAML, VICE CHAIRMAN

Mr. Grundlingh joined VCBF when Franklin Templeton became partner to the firm in February 2008, and now serves as the Vice Chairman on the Board of Directors. Mr. Grundlingh has over 20 years of experience in investment and foreign affairs, and is the Country Head for Templeton Asset Management Ltd ("TAML") in Singapore. Prior to this posting, Mr. Grundlingh had developed his career with Franklin Templeton in South Africa as National Sales Manager, Head of International Sales and finally serving as the Country Head for TAML in South Africa for four years. Mr. Grundlingh holds a Bachelor of Law and Politics from University of Stellenbosch, South Africa.