Peter M. Brown, O.B.C., LL.D. (1997) 
Chairman of the Board and a director of Canaccord Capital Inc. and Canaccord Capital Corporation. In 1968 he joined Hemsworth, Turton & Co., Ltd., which subsequently became known as Canaccord Capital Corporation.
Since 1968, Mr. Brown has been involved in the Canadian capital markets. Mr. Brown is currently a member of the board of directors of the IIROC - Industry Association and is a past member of the board and of the executive committee of the Investment Dealers Association. He is a past Chairman of the Board of the University of British Columbia, the Vancouver Stock Exchange, BC Place Corporation (crown corp) and BC Enterprise Corporation (crown corp). He was also the Vice Chairman of Expo '86 Corporation.

He is currently on the board of trustees for The Fraser Institute, a Canadian research organization. He is a past member of the Chief Executives Organization and the Young Presidents Organization. He is a former member of the board of governors of the Atlantic Institute for International Affairs, the CICA Accounting Research Advisory Board and the Council for Business and the Arts in Canada.

Mr. Brown is a past recipient of the BC Chamber of Commerce Businessman of the Year award. He was awarded the BC & Yukon Chamber of Mines Financier Award for 2000, the Ernst & Young Pacific Entrepreneur of the Year Award for 2001 and in 2002 the Distinguished Service Award by the Prospectors and Developers Association of Canada.

In January 2003, Mr. Brown received a Commemorative Medal for the Golden Jubilee of Her Majesty Queen Elizabeth recognizing his community service. In June 2003, he was awarded the Order of British Columbia recognizing his fundraising efforts for various charities and organizations in British Columbia as well as the vital role he has played in financing hundreds of British Columbia businesses.

In February 2004, Mr. Brown was named "Person of the Year" by the Brotherhood Inter-Faith Society of British Columbia. In 2005 Mr. Brown received an honorary Doctor of Laws from the University of British Columbia and in 2007 he was named Distinguished Graduate by St. George's Private School. He is currently Lead Director nominated by the Government of Canada to the board of directors of the Vancouver Organizing Committee of the 2010 Olympic and Paralympic Winter Games (VANOC). He is currently a Director of  the Vancouver Convention Centre Expansion Project Limited as well as PAVCO (both Crown Corporations).
 

Paul D. Reynolds (2005)
President and Chief Executive Officer of Canaccord Capital Inc.  In April 2005, Mr. Reynolds was appointed Vice Chair, Global Head of Capital Markets for the Canaccord group.  He joined Canaccord in 1985.  He has been integral to the development of Canaccord's business in Europe and a primary contributor in positioning Canaccord as a leader in small to medium sized European equity markets.
 

Arpad A. Busson (2005)
A founding member of the Alternative Investment Management Association (AIMA). He helped pioneer the Moore Group and the Tudor Group (two of the largest and best known hedge fund management groups in the world). Mr. Busson founded the EIM Group, one of the largest funds of funds in the world. He has served on different panels internationally as a hedge fund industry expert.
 

William J. Eeuwes (2002) 
Audit Committee
Corporate Governance and Compensation Committee
Vice President of Manulife Capital, with more than 25 years of experience in underwriting and the management of a broad range of asset classes. Mr. Eeuwes is a Fellow of the Institute of Canadian Bankers and is a director of a number of other public companies. 
 

Michael D. Harris (2004)
Corporate Governance and Compensation Committee
Senior business advisor with Goodmans LLP in Toronto and Premier of the Province of Ontario from 1995 to 2002. Mr. Harris is also a director of a number of other public companies, serves as a director of the Tim Horton Children's Foundation and sits on the board of St. John's Rehabilitation Hospital. 
 

Brian D. Harwood (2004) 
Audit Committee
Former President & Chief Operating Officer of Canaccord Capital Corporation. He was also previously a governor and Chairman of the Vancouver Stock Exchange, a director and Chairman of the Canadian Investor Protection Fund and a director of the Investment Dealers Association. Mr. Harwood is not currently a director of any other public companies.
 

Timothy J.D. Hoare (2005)
Chairman & Chief Executive Officer of Canaccord Adams Limited. In 1990 Mr. Hoare became a director of Credit Lyonnais Laing International. In 1993 Mr. Hoare established T. Hoare & Co. Limited, an investment dealer based in London, England. Canaccord acquired a minority interest in T. Hoare & Co. Limited in 1996 and in 1999 it became a wholly owned subsidiary - Canaccord Capital (Europe) Limited.   
 

Terrence A. Lyons (2004)
Audit Committee
Corporate Governance and Compensation Committee
Chairman of Northgate Minerals Corporation and a director of several private companies. In 1986, he became Senior Vice President of Versatile Corporation and presided over the restructuring of the corporation, which is now known as B.C. Pacific Capital Corporation, a senior merchant and investment banking company, which is part of Brookfield Asset Management.  
 

Mark G. Maybank (2006)
Chief Operating Officer of Canaccord Capital Inc. and the President & Chief Operating Officer of Canaccord Capital Corporation. He joined Canaccord in 2001 and was responsible for its research activity. Before joining Canaccord, Mr. Maybank was an executive vice-president at a technology services and software development firm.  Before that, he was a technology analyst with Yorkton Securities and chief financial officer of a US based cellular services company.  Before that, he held various positions with a large multinational accounting and consulting firm.  Mr. Maybank has earned both his Chartered Accountant and Chartered Business Valuator designations. 
 

Michael A. Walker (2006)
Dr. Michael Angus Walker is a Senior Fellow at the Fraser Institute and President of The Fraser Institute Foundation.  From its inception in 1974, until September 2005, Dr. Walker directed the activities of The Fraser Institute, an independent public policy organization.  Before that he taught at Carleton University and prior to that at the University of Western Ontario.  He has previously worked at the Bank of Canada and then subsequently joined the Federal Department of Finance.  He received his Ph.D. at the University of Western Ontario and his B.A. at St. Francis Xavier University, Nova Scotia.
 

John B. Zaozirny, Q.C. (2004)
Joined Canaccord Capital Corporation in January 1996 as a director and Vice- Chairman of its Board and is a member of its capital markets group. He also serves as counsel to McCarthy Tétrault LLP and is a member of the Law Societies of Alberta and British Columbia. Mr. Zaozirny served in the Alberta legislature as minister of energy from 1982 to 1986. He is also a director of a number of other public companies. 

The date appearing after the name of each director indicates the year in which he became a director. The term of office will expire at the next Annual General Meeting in 2008.