Paul James Ashley

PVM Oil Associates Ltd. opened in 1980 with two employees and now, together with its sister company PVM Oil Futures Ltd., employs 90 people in its Jermyn Street office in London's West End. The company's commitment has been to provide a complete broking service for the oil industry. The London crude oil group has 15 brokers covering the Brent, WTI, Dubai, Urals, paper, physical and EFP markets. It has been the leading international team for over 25 years and has an unparalleled depth of experience. The options group has 5 brokers focusing on crude oil. The petroleum products group has 22 brokers covering LPG, naphtha, gasoline, jet fuel, gasoil and fuel oil. The broking teams have expertise on both the physical and swaps markets and the facility to call on input from the crude and futures groups to develop crack and margin business. The London broking operation is unique in the strength of its OTC crude, futures and products groups which combine to provide a unique service. No other group matches PVM's volume of business, depth of coverage or stability of staff.

Part of TP ICAP Group Plc, Tullett Prebon (Europe) Ltd. is a wholesale inter-dealer broker that offers a range of financial products and services such as alternative investments, European government bonds, volatility trading, interest rate options, capital markets, institutional equities, euro stoxx options, commodities, treasury, credit derivatives, and equity derivatives. The company is based in London, UK. Tullett Prebon's Interest Rate division is a world leader in interdealer broking and provides voice broking services. The British company, founded in 1969, also provides a 24-hour dealing desk in the FX market to institutional clients with anonymous trading and real-time market information through its Chapdelaine FX division.

Founded in 1975, Exco Overseas Ltd. is a subsidiary of TP ICAP Group Plc and functions as an investment holding British company. The company is based in London, UK.

Founded in 1976, Exco International Ltd. is a subsidiary of TP ICAP Group Plc and functions as an investment holding British company. The company is based in London, UK.

Part of TP ICAP Group Plc, ICAP America Investments Ltd. is a British company that provides investment services. The company is based in London, UK.

Part of TP ICAP Group Plc, Garban-Intercapital (2001) Ltd. functions as an investment holding British company. The company is based in London, UK.

Part of TP ICAP Group Plc, ICAP UK Investments No. The company is based in London, UK. 1 is a British company that provides financial services.

Part of TP ICAP Group Plc, ICAP Holdings (UK) Ltd. functions as an investment holding British company. The company is based in London, UK.

Part of TP ICAP Group Plc, ICAP Holdings Ltd. is a British company that provides electronic brokerage services. The company is based in London, UK.