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SEAN T. DIXON, CFA Studio City, CA 91604 | 310.614.5292 | sd4b2ce4@westpost.

net HIGH YIELD AND DISTRESSED DEBT INVESTMENT MANAGER Accomplished and versatile investment professional with extensive high yield deb t experience, including leverage loans and bonds and stressed and distressed ass et classes. Rigorous and diligent approach to research and due diligence, diggi ng deep into all aspects of companies and industries to uncover and isolate crit ical investment criteria that produce superior risk-return. Top-down and botto ms up approach with a focus on value and downside protection. Keen ability to i dentify highest quality borrowers for core high yield funds and asset rich busin esses for stressed and distressed funds. Solid reputation in the distressed deb t and high yield community as a competent and dedicated investment professional. For the past 11 years, I was a partner and voting member on a four person invest ment committee which managed a $250 million distressed debt fund, $1.5 billion o f leveraged loan funds and $3.5 billion of Wells Fargo capital. Responsibiliti es included reviewing and criticizing all investment prospects brought to the in vestment committee, managing 20-25% of the investment portfolio ($800-$900mm) an d training and guiding all junior analysts. * Over entire 17-year career, total realized investment losses were $25 million while managing a $700-$900 million portfolio. * Introduced and implemented several new industries to portfolio: telecom, tech nology, chemicals, and software, that all resulted in significant investment con tributions to the firm. Example: Telecom: in 2003, after 3 tumultuous years in the emerging telecom space, our group earned a net profit of $120 million (300% of target), of which $40 million was attributable to telecom / technology (40% o verall IRR) CORE COMPETENCIES Financial Statement Analysis Cash Flow/Modeling Investment Discipline Fundamental Analysis/Due Diligence Recapitalization/Bankruptcy Portfolio Strateg ies / Standards Valuation Management Interviews Analyst Training Investment Committee Active Portfolio Review Bloomberg SECTORS Technology | Telecommunications/Cable | Software| Building Products | Packagin g| Paper/Forest Products | Chemicals PROFESSIONAL EXPERIENCE WELLS FARGO FOOTHILL, Santa Monica, CA 1992 - 2009 Partner/Senior Vice President & Portfolio Manager, 1998 - 2009 Leverage Loan & Distressed Investment Group One of four voting members on Investment Committee. Co-managed $250 million in distressed funds: Foothill Partners IV, two leveraged loan funds (~$1.5 billion) , and $3.5 billion of Wells Fargo capital. Covered industries including technolo gy, telecommunications/cable, software, building products, packaging, paper/fore stry, and chemicals. Average investment position $15mm. Sourced and analyzed new prospects and managed a $700-$900+ million high yield a nd distressed portfolio. Performed due diligence and successfully monitored hol dings through analysis of current news flows, quarterly earnings reports and con ference calls, one-on-one management meetings, consultant reports, sell-side ana lyst research, investment conferences and extensive travel to visit companies, t heir competitors, lawyers, investment banks, and other buy-side firms.

Sean Dixon, CFA

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Partner/Senior Vice President & Portfolio Manager, Continued CLO & Distressed Investment Group * Launched first leveraged loan fund of $750 million - Foothill Income Trust I August 1998 (36% IRR '98-06). * Launched second leveraged loan fund of $750 million - Foothill Income Trust I I - February 2000 (37% IRR '00-'07). * Integral member of investment committee to manage and review portfolios and vo te on investment policy and strategies on asset allocation, asset class selectio n and yield parameters. * Developed analyst training program on financial statement analysis, financial modeling, asset valuation, liquidation, cash flow, and bankruptcy. Provided gene rous, constructive, and thoughtful training for several analysts who all became significant contributors. Assistant Vice President, Distressed Investment Group, 1995 - 1998 Assisted in managing 3 distressed funds totaling $1 billion. Sourced and underwr ote new prospects for technology, telecom, building products, packaging, paper & forestry, and chemical industries. * Established telecom/technology bank debt investment strategy (following 1996 T elecommunications Act) to identify successful competitive carriers. * Instrumental for distressed investments in companies including Adelphia Commun ications, On Semiconductor, Level 3, XO (Nextlink), RCN Communications, Time War ner Telecom and Nextel Communications. Analyst, Distressed Investment Group, 1992 - 1995 Performed fundamental analysis and assisted 4 Portfolio Managers in investing $1 billion of distressed assets over three funds: Foothill Partners, Foothill Part ners II and Foothill Partners III. Covered sectors including healthcare, technol ogy, telecommunications, and chemicals. * Invested throughout capital structure and in broad range of situations includi ng, Bank Debt and Bonds, junior secured, mezzanine and debtor-in-possession fina ncings. * Assisted in valuing real estate properties, including hospitals (dollars per b ed), hotels (dollars per room), and restaurants (revenue per store). EDUCATION / CERTIFICATIONS Bachelor of Arts, Finance Magna Cum Laude (3.6 GPA) Dean's List/Beta Gamma Sigma Honor Society Loyola Marymount University, Los Angeles, CA Chartered Financial Analyst (CFA) Los Angeles Chapter, member