The "New CRT"

CRT was established in 1990 and has grown into a firm of over 100 professionals that has historically been focused on the sales and trading of High Yield, Distressed, Convertible and Emerging Market Debt as well as Equities. CRT's focus on, and reputation for, outstanding research has continued to be the foundation for the firm's success.

On June 1, 2009, a controlling interest in CRT was purchased by a group of investors led by Ron Kripalani, Jay Levine and Ben Carpenter. This investor group also includes the existing management of CRT, Chris Young and Michael Vaughn, and many of the employees of CRT.

Most recently, Ron served as the Executive Managing Director of Countrywide Financial Corp. and Chief Executive Officer of Countrywide Capital Markets. Ron now serves as the Chief Executive Officer of CRT. From 2000-2007, Jay Levine and Ben Carpenter served as the Co-CEO's of RBS Greenwich Capital. Ben Carpenter now serves as the Chairman of CRT, and Jay Levine is an investor and advisor to CRT while continuing in his job as CEO of Capmark Financial Group Inc.

Our new management team is committed to maintaining and building CRT's well-deserved reputation for excellence in the firm's traditional product areas. Additionally, and very importantly, the "New CRT" will continue its expansion into new product areas such as U.S. Treasuries, Structured Product (MBS/ABS/CMBS), and High Grade Credit.

The entire CRT family is incredibly excited about the expansion plans for our firm, and we very much look forward to working with, and working for, our clients as we embark on this new chapter for CRT.

Ron Kripalani Ben Carpenter C. Michael Vaughn, Jr. J. Christopher Young