The CFA® Program is overseen and administered by CFA Institute. ©2005 CFA Institute.

CFA Institute congratulates the

Houston Society of Financial Analysts

on this important landmark:

50 years of promoting the highest ethical,

educational and professional standards.

Since its founding in 1955, the Houston

Society of Financial Analysts has grown to

more than 730 members, most of whom

have earned the prestigious Chartered

Financial Analyst® (CFA®) credential — and

all of whom sign an annual commitment

to put investor interests first.

For more information about the Houston

Society of Financial Analysts, please visit

www.hsfa.org.

To learn about the CFA Program, visit

www.cfainstitute.org or call CFA Institute

at 1-800-247-8132.

50 years,a singular commitment.

Lovett C. Peters 1955-1956 Charles E. Brown 1956-1957Elliott A. Johnson 1957-1958Philip R. Neuhaus 1958-1959Jack C. Harris 1959-1960Henry M. Beissner 1960-1961Robert Stewart 1961-1962William C. Sandy 1962-1963James L. Bayless 1963-1964John E. Bixby 1964-1965 Richard L. Bradley 1965-1966Willoughby C. Williams, CFA 1966-1967Eugene H. Vaughan, CFA 1967-1968John E. Justice III 1968-1969Herbert J. Bickel 1969-1970Gordon T. Wise, CFA 1970-1971George C. Briggs, CFA 1971-1972David M. Cornell 1972-1973Joseph C. Graf 1973-1974Nicholas Noyes Wentworth, CFA 1974-1975Thomas R. Mongan, CFA 1975-1976Harry M. Flavin, CFA 1976-1977Dahl Marshall, CFA 1977-1978Robert M. Stephens 1978-1979James M. Parker, CFA 1979-1980

John B. Gillum 1979-1980 Carrol R. McGinnis, CFA 1980-1981 Jack R. Hamilton, CFA 1981-1982 Richard L. Nelson Jr. 1982-1983 Jeffrey L. Sarff 1983-1984 Vance M. Arnold, CFA 1984-1985Nancy V. Daniel, CFA 1985-1986Anthony W. Henfrey, CFA 1986-1987John E. Young, CFA 1987-1988Elinor G. Ashworth, CFA 1988-1989Joseph T. Dabney III, CFA 1989-1990Robert B. McAshan III, CFA 1990-1991J. Franklin Scarborough, CFA 1991-1992Richard A. Lewis, CFA 1992-1993Sharon K. Stone Keith, CFA 1993-1994Lucinda Freeman, CFA 1994-1996Thomas A. Wimberly, CFA 1996-1997Lynn Detrick, CFA 1997-1998Pat H. Swanson, CFA 1998-1999Ronald J. Stapleton, CFA 1999-2000Dana B. Croswhite, CFA 2000-2001Jan A. Koenig, CFA 2001-2002Stephen Craig Raffaele, CFA 2002-2003Christopher W. Jones, CFA 2003-2004

Previous HSFA Presidents:

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