Herbert L. Oakes, Jr.

Chairman

hoakes@nspartnersllc.com

Herbert L. Oakes, Jr. is Chairman of North Sea Partners. He is also founder and president of Oakes, Lyman & Co. Limited, a UK venture capital firm. Mr. Oakes has spent his entire career in London, initially as joint head of the London office of Hallgarten & Co.. In 1973 he joined Dillon Read where he was appointed branch manager of its London office and oversaw the firm's capital markets activities. In 1982, he formed H.L. Oakes & Co. Inc., a firm specializing in arranging venture and development capital for corporations in the United States and United Kingdom. In 1987, he formed the firm of Oakes, Fitzwilliams & Co. Limited, the predecessor of Oakes Lyman & Co. Limited.

In addition to financing over fifty public and private companies at Oakes Lyman, he has completed a number of corporate transactions, including the collaboration between Xenova and Genentech; the sale of Psygnosis to Sony; and the disposals by Olivetti S.p.A. of its personal computer and printed circuit board businesses.

Mr. Oakes is a former chairman of the UK public company, Independent Energy Company plc. He has also served as a director of a number of publicly traded companies in the United States, including CalEnergy Co, Inc., Harcor Energy, Inc., New World Power Corporation, and Shared Technologies Fairchild, Inc. Mr. Oakes is a graduate of The University of the South.