<PAGE>
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that I, William W. Priest, hereby make,
constitute and appoint each of Eugene L. Podsiadlo and Michael A. Pignataro,
with full power to act without the other, as my agent and attorney-in-fact for
the purpose of executing in my name, in my capacity as a Director/Trustee of one
or more Warburg Pincus Funds, all registration statements on Form N-1A
(including amendments thereto) to be filed with the United States Securities and
Exchange Commission pursuant to the Securities Act of 1933, as amended, and the
Investment Company Act of 1940, as amended, and the rules and regulations
promulgated thereunder.
All past acts of an attorney-in-fact in furtherance of the foregoing are hereby
ratified and confirmed.
This power of attorney shall be valid from the date hereof until revoked by me.
IN WITNESS WHEREOF, I have executed this instrument as of the 1st day of May,
2000.
/s/William W. Priest
--------------------
William W. Priest
<PAGE>
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that I, Jack W. Fritz, hereby make, constitute
and appoint each of Eugene L. Podsiadlo and Michael A. Pignataro, with full
power to act without the other, as my agent and attorney-in-fact for the purpose
of executing in my name, in my capacity as a Director/Trustee of one or more
Warburg Pincus Funds, all registration statements on Form N-1A (including
amendments thereto) to be filed with the United States Securities and Exchange
Commission pursuant to the Securities Act of 1933, as amended, and the
Investment Company Act of 1940, as amended, and the rules and regulations
promulgated thereunder.
All past acts of an attorney-in-fact in furtherance of the foregoing are hereby
ratified and confirmed.
This power of attorney shall be valid from the date hereof until revoked by me.
IN WITNESS WHEREOF, I have executed this instrument as of the 1st day of May,
2000.
/s/Jack W. Fritz
----------------
Jack W. Fritz
<PAGE>
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that I, Richard H. Francis, hereby make,
constitute and appoint each of Eugene L. Podsiadlo and Michael A. Pignataro,
with full power to act without the other, as my agent and attorney-in-fact for
the purpose of executing in my name, in my capacity as a Director/Trustee of one
or more Warburg Pincus Funds, all registration statements on Form N-1A
(including amendments thereto) to be filed with the United States Securities and
Exchange Commission pursuant to the Securities Act of 1933, as amended, and the
Investment Company Act of 1940, as amended, and the rules and regulations
promulgated thereunder.
All past acts of an attorney-in-fact in furtherance of the foregoing are hereby
ratified and confirmed.
This power of attorney shall be valid from the date hereof until revoked by me.
IN WITNESS WHEREOF, I have executed this instrument as of the 1st day of May,
2000.
/s/Richard H. Francis
---------------------
Richard H. Francis
<PAGE>
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that I, Jeffrey E. Garten, hereby make,
constitute and appoint each of Eugene L. Podsiadlo and Michael A. Pignataro,
with full power to act without the other, as my agent and attorney-in-fact for
the purpose of executing in my name, in my capacity as a Director/Trustee of one
or more Warburg Pincus Funds, all registration statements on Form N-1A
(including amendments thereto) to be filed with the United States Securities and
Exchange Commission pursuant to the Securities Act of 1933, as amended, and the
Investment Company Act of 1940, as amended, and the rules and regulations
promulgated thereunder.
All past acts of an attorney-in-fact in furtherance of the foregoing are hereby
ratified and confirmed.
This power of attorney shall be valid from the date hereof until revoked by me.
IN WITNESS WHEREOF, I have executed this instrument as of the 1st day of May,
2000.
/s/Jeffrey E. Garten
--------------------
Jeffrey E. Garten
<PAGE>
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that I, Alexander B. Trowbridge, hereby make,
constitute and appoint each of Eugene L. Podsiadlo and Michael A. Pignataro,
with full power to act without the other, as my agent and attorney-in-fact for
the purpose of executing in my name, in my capacity as a Director/Trustee of one
or more Warburg Pincus Funds, all registration statements on Form N-1A
(including amendments thereto) to be filed with the United States Securities and
Exchange Commission pursuant to the Securities Act of 1933, as amended, and the
Investment Company Act of 1940, as amended, and the rules and regulations
promulgated thereunder.
All past acts of an attorney-in-fact in furtherance of the foregoing are hereby
ratified and confirmed.
This power of attorney shall be valid from the date hereof until revoked by me.
IN WITNESS WHEREOF, I have executed this instrument as of the 1st day of May,
2000.
/s/Alexander B. Trowbridge
--------------------------
Alexander B. Trowbridge
<PAGE>
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that I, James S. Pasman, Jr., hereby make,
constitute and appoint each of Eugene L. Podsiadlo and Michael A. Pignataro,
with full power to act without the other, as my agent and attorney-in-fact for
the purpose of executing in my name, in my capacity as a Director/Trustee of one
or more Warburg Pincus Funds, all registration statements on Form N-1A
(including amendments thereto) to be filed with the United States Securities and
Exchange Commission pursuant to the Securities Act of 1933, as amended, and the
Investment Company Act of 1940, as amended, and the rules and regulations
promulgated thereunder.
All past acts of an attorney-in-fact in furtherance of the foregoing are hereby
ratified and confirmed.
This power of attorney shall be valid from the date hereof until revoked by me.
IN WITNESS WHEREOF, I have executed this instrument as of the 1st day of May,
2000.
/s/James S. Pasman, Jr.
-----------------------
James S. Pasman, Jr.
<PAGE>
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that I, Steven N. Rappaport, hereby make,
constitute and appoint each of Eugene L. Podsiadlo and Michael A. Pignataro,
with full power to act without the other, as my agent and attorney-in-fact for
the purpose of executing in my name, in my capacity as a Director/Trustee of one
or more Warburg Pincus Funds, all registration statements on Form N-1A
(including amendments thereto) to be filed with the United States Securities and
Exchange Commission pursuant to the Securities Act of 1933, as amended, and the
Investment Company Act of 1940, as amended, and the rules and regulations
promulgated thereunder.
All past acts of an attorney-in-fact in furtherance of the foregoing are hereby
ratified and confirmed.
This power of attorney shall be valid from the date hereof until revoked by me.
IN WITNESS WHEREOF, I have executed this instrument as of the 1st day of May,
2000.
/s/Steven N. Rappaport
----------------------
Steven N. Rappaport
