DREMAN VALUE MANAGEMENT, L.L.C. C/O CONTRARIAN SERVICES CORP. INVESTMENT COUNSEL
HARBORSIDE FINANCIAL CENTER PLAZA 10, SUITE 800
JERSEY CITY, NJ 07311-4037
DAVID N. OREMAN
CHIEF INVESTMENT OFFICER
June 15, 2009
To Whom It May Concern:
I have known Rick Crandall personally for well over a decade, and during this period have had the opportunity to discuss many complex business and investment matters with him, I have always found Mr. Crandall to be a person with an unusually strong sense of integrity
which is coupled with a highly sophisticated understanding of both business and investment matters. On occasion, I’ve made investments that he thought had good potential, which he always thoroughly explained to me beforehand..
My opinion of Mr.Crandall’s capabilities are supported by business leaders. He is Chairman of the Board of Novell, a respected public computer software company, and on the Board of Directors and audit committee of Diebold, and several other well-known companies. Mr. Crandall is also the founder of a major software association that meets at least annually to discuss state-of the art developments in the industry. The meetings have become an important event in the field.
I asked Mr. Crandall to become an independent director of the Dreman Claymore Closed End Fund over four years ago, which he accepted. He has been a strong contributor to the
Board and his experience in areas ranging from Compliance to understanding complex investment situations made him a leader of this Board. Mr.. Crandall also serves the Board well by his thoroughness. He carefully reads the often hundred pages or more of material sent to him for each meeting, and is frequently the Director who catches any required changes or omissions at the meetings or in the presentations.
I can wholeheartedly recommend him as a person who is scrupulously honest, a highly knowledgeable and active Director, and someone who is a very strong business and investment executive.
David N. Dreman
Chairman & Chief Investment Officer Dreman Value Management, LLC