Theodore A. Andros and Joan B. Andros - Page 5

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          Richard Illingworth                                                         
               Petitioner first met Richard Illingworth at a social gathering         
          in Miami in late 1977 or early 1978.  Petitioner informed Mr.               
          Illingworth that he was looking for investment opportunities. In            
          that regard, Mr. Illingworth explained to petitioner how he could           
          benefit from trading in commodity futures as well as option spreads         
          involving Government securities. They discussed the possibility of          
          forming a partnership that would engage in the trading of option            
          spreads and commodity futures.                                              
               Mr. Illingworth was educated in England and in the late 1960's         
          entered the commodities business.  He first worked at the London            
          Metal Exchange for the Rudolf Wolff Co., a London metal broker and          
          commodity trader.  In 1971, he moved to the United States, where he         
          was employed by C. Tennant Sons & Co., a metals and futures trading         
          company. Two years later, Mr. Illingworth moved to ICC Metals (a            
          division of International Chemical Corp.) where he traded in copper         
          and other metals. Subsequently, he worked for Gill & Duffus under           
          a trader named Herbert Weiss.                                               
               In 1977, Mr. Illingworth formed Manhattan Metals (Nonferrous)          
          Ltd. (Manhattan Metals), a New York corporation, involved in                
          physical commodities and futures trading.  He was the largest               
          Manhattan Metals shareholder and had a controlling interest.2  Mr.          

               2    The remaining stock was owned by Mr. Illingworth’s                
                                                             (continued...)           





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