The Bear Companies

Restructuring and Advisory Assignments

Contingent Discounted Payoff Dealer Manager $138,000,000 Trust Preferred and Sub Debt 2010	Contingent Discounted Payoff Dealer Manager $238,000,000 Trust Preferred and Sub Debt 2010
Contingent Discounted Payoff Dealer Manager $40,000,000 Trust Preferred and Sub Debt Affinity Bancorp 2009	Contingent Discounted Payoff Dealer Manager $112,000,000 Trust Preferred and Sub Debt Vineyard National Bancorp 2008
Advisor to Bondholders $300,000,000 Five failing or Near failing Financial Institutions 2007-2008

Transactions - Loan Due Diligence

Loan Portfolio Due Diligence and Valuation 13 Banks and Thrifts with Total Assets of $30 billion Government Agency 2009-2010	Loan Portfolio Due Diligence and Valuation $100,000,000 2010
Loan Portfolio Due Diligence and Valuation $400,000,000 Vineyard National Bancorp $30 Billion Special Situations Fund 2008	Loan Portfolio Due Diligence and Valuation $350,000,000 AMCORE Financial $30 Billion Special Situations Fund 2007 - 2008

Transactions - Company Formation

In 2005, The Bear Companies assisted in the creation and capitalization of Kodiak Funding, LP, a CDO conduit focused on investing in corporate real estate and finance company subordinated obligations. The Bear Companies team participated in investor roadshows for two equity and two CDO offerings and interfaced with credit rating agencies, warehouse lenders, monoline insurers and domestic and international investors. The Bear Companies continues to own a minority interest in Kodiak Management.

12,500,000 Common Units $10.00 per Unit 2005	10,205,000 Common Units $12.50 per Unit 2006
Kodiak CDO I, LTD $802,700,000 2006 Descap Securities	Kodiak CDO II, LTD $766,000,000 2006

Selected Fixed Income Transactions

$25 Million Trust Preferred Securities Purchased By May 25, 2006	$28.5 Million Trust Preferred Securities Purchased By March 14, 2006
$75 Million Trust Preferred Securities Purchased By February 22, 2006	$50 Million Trust Preferred Securities Purchased By September 13, 2006
$50 Million Trust Preferred Securities Purchased By July 28, 2006	$50 Million Trust Preferred Securities Purchased By December 22, 2005
$28.1 Million Trust Preferred Securities Purchased By June 14, 2007	$22.9 Million Trust Preferred Securities Purchased By Febraury 6, 2007

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