Peter Kraus

Merrill Lynch & Co., Inc. provided wealth management, securities trading and sales, corporate finance and investment banking services. Merrill Lynch was a global trader and underwriter of securities and derivatives across a range of asset classes and serve as a strategic advisor to governments, institutions and individuals worldwide. The company was founded in 1913 and was headquartered in Charlotte, NC.

The Spain Fund, Inc. (the Fund) is a non-diversified, closed-end management investment company. The Fund invests in a portfolio of Spanish equity securities. The Fund will invest at least 80% of its total assets in Spanish equity securities. The Fund may invest up to 35% of its total assets in fixed-income instruments issued by the Spanish Government and its instrumentalities or by supranational organizations and multi-national companies rated AA or better by Standard & Poor's Corporation, or Aa or better by Moody's Investors Service. The Fund may invest up to 25% of its total assets in unlisted securities of Spanish companies and Spanish securities, which are not readily marketable. It invests in sectors, such as utilities, finance, energy, technology, healthcare, consumer services, consumer staples and basic industry. The Fund's investment manager is AllianceBernstein L.P. The Investment Company is headquartered in New York.

Equitable Financial Life Insurance Company of America provides life insurance product. It offers variety of fixed and variable life insurance policies which offer policy features. It issues Market Stabilizer Option (MSO), an investment option available under certain variable life insurance policies. The company was founded on March 6, 1969 and is headquartered in Charlotte, NC.

AXA Financial, Inc. provides financial advisory and insurance services. The company operates in two business segments: The Financial Advisory/Insurance and The Investment Management. The Financial Advisory/Insurance segment offers a variety of term, variable and universal life insurance products, variable and fixed-interest annuity products, mutual funds and other investment products and asset management, financial planning and other services principally to individuals, small and medium-size businesses and professional and trade associations. The Investment Management segment is principally comprised of the investment management business. The company was founded in 1991 and is headquartered in New York, NY.

The Group's principal activities are to provide investment, financing, advisory, insurance and related products and services on a global basis. The Group's services includes securities brokerage, trading, insurance, record keeping and underwriting through its broker, dealer, banking, insurance and other financial services subsidiaries. The Group operates in three business segments: Global Markets and Investment Banking group, Global Private Client, and Merrill Lynch Investment Managers. The principal subsidiary of the Group is Merrill Lynch, Pierce, Fenner & Smith Inc., which provides securities brokerage, option contracts, commodity and financial futures contracts, selected insurance products, options, corporate and municipal securities, investment banking and business advisory services. The Group operates in Europe, Middle East, and Africa, Pacific Rim, Canada and Latin America. In 2005, the Group acquired Pax Clearing Corp, the advest Group and Amvescap Plc.

Foursquare Capital Corp. engages in acquiring, financing, and managing a portfolio of commercial mortgage-backed securities, residential mortgage-backed securities, commercial and residential mortgage loans, real estate-related securities, asset-backed securities, and other financial assets. The company was founded in June 2009 and is headquartered in New York, NY.

AllianceBernstein LP (AB) is a SEC-registered investment advisor and mutual fund manager headquartered in Nashville, Tennessee. Founded in 2000, the firm is owned by Equitable Financial Life Insurance Co., ultimately held by Equitable Holdings, Inc. (NYSE: EQH). AB provides investment advice to investment companies, pension and profit-sharing plans, banks and thrift institutions, trusts, estates, government agencies, charitable organizations, individuals, corporations and other business entities.