Kenneth M. Riis

Mr. Riis is a member of New Residential’s board of directors. Mr. Riis was appointed Chief Executive Officer of Newcastle on February 21, 2007. On that date, Mr. Riis was also unanimously elected as one of Newcastle’s directors. Mr. Riis has been Newcastle’s President since Newcastle’s inception and a managing director of our Manager, an affiliate of Fortress since December 2001. Mr. Riis is also the President of Newcastle Investment Holdings LLC (the predecessor of Newcastle). From November 1996 to December 2001, Mr. Riis was an independent consultant for our Manager as well as other financial companies. From 1989 to 1996, Mr. Riis was a Principal and Managing Director of the real estate finance group at Donaldson, Lufkin & Jenrette.