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SAND COMPANIES, INC. <br />MANAGEMENT TEAM <br />Leo M. Sand, Chairman <br />30 years Construction, Property Management & Real Estate Development <br />Experience <br />Minnesota General Contractor's License — 31 years <br />Minnesota Real Estate Broker's License — 22 years <br />Started Sand Companies, Inc. in 1991 <br />E-mail Address: LMSandPSandCompanies.com <br />Gene M. Walter, Vice President of Construction Operations <br />36 years Construction Experience <br />Joined Sand Companies, Inc.'s Team in 1993 <br />E-mail Address: GMWalterPSandCompanies.com <br />Roger W. Gertken, General Project Superintendent <br />22 years Construction Experience <br />Joined Sand Companies, Inc.'s Team in 1994 <br />E-mail Address: RWGertkenpSandCompanies.com <br />Jamie J. Thelen, Chief Executive Officer <br />13 years Real Estate Development & Management Experience <br />ii years Municipal Government Experience <br />Minnesota Real Estate License — ii years <br />Joined Sand Companies, Inc.'s Team in 1996 <br />E-mail Address: JJThelenpSandCompanies.com <br />Ted M. Lindberg, Senior Project Estimator <br />26 years Project Management/Estimating Experience <br />Joined Sand Companies, Inc.'s Team in 1995 <br />E-mail Address: TMLindbergPSandCompanies.com <br />