HARDING ADVISORY LLC Two World Financial Center 36th Floor 225 Liberty Street New York, New York 10281 (212) 220-9750 (212) 220-9751 Fax http://www.hardingllc.com/ ABOUT HARDING ADVISORY Harding Advisory LLC is a privately-held alternative investment management firm specializing in the management of collateralized debt obligations, or CDOs. Headquartered in New York at Two World Financial Center, Harding is a registered investment advisor under the Investment Advisers Act of 1940. Harding was founded in 2006 by its President, Wing Chau, but traces its roots to the 2004 issuance of Jupiter High-Grade CDO I, which was structured by Mr. Chau at a prior firm. Harding now (as of July 1, 2007) manages and sub-manages eighteen CDOs totaling over $19 billion, making it one of the largest CDO managers in the U.S. Harding employs investment professionals with extensive experience in investment management, trading and research. Harding’s more senior employees have an average of over twelve years of experience in the securities and/or investment management industry. INVESTMENT PHILOSOPHY Harding’s principal investment objectives are to generate positive alpha and superior risk-adjusted returns for our investors. To meet those objectives, we employ a rigorous and diligent security selection and monitoring process for securities we own in or are considering for our various CDO vehicles. Harding’s overall investment philosophy is grounded in our belief in thorough, in-depth fundamental analysis in which we combine “top-down” market and sector reviews with a traditional “bottom-up” approach to security selection. Using a number of different quantitative and qualitative tools and techniques, we complete in-depth credit reviews to determine the suitability of each potential transaction for its respective CDO, optimize relative value through analysis of historical and current market spreads, and actively monitor ongoing investment performance. TRANSACTIONS UNDER MANAGEMENT Harding is a leader in the management of structured finance CDOs. In a recent study, Harding was ranked as the 6th largest ABS CDO manager as of December 31, 2006. As of July 1, 2007, Harding managed or sub-managed 18 CDOs totaling over $19 billion of assets under management. High Grade ABS CDOs Jupiter High-Grade CDO IV Jupiter High-Grade CDO V Jupiter High-Grade CDO VI Mezzanine Cash Flow CDOs/Hybrid CDOs Lexington Capital Funding II Lexington Capital Funding III Lexington Capital Funding V Octans I CDO Octans II CDO Octans III CDO Octonion CDO CDOs of CDOs Tigris 2007-1 CDO 888 Tactical Funding Neo 2007-1 CDO Corporate Synthetic Cloverie 2006-10 Sub-managed CDOs Jupiter High-Grade CDO I Jupiter High-Grade CDO II Jupiter High-Grade CDO III Lexington Capital Funding I LEGAL DISCLAIMER Please read this disclaimer All content and materials available on this site are protected by copyrights, trademarks, servicemarks, patents, trade secrets, or other proprietary rights and laws. Harding and its affiliates retain all such rights to the content and materials. This means that, except as noted below, you may not: sell, license, rent, modify, distribute, copy, reproduce, transmit, publicly display, publicly perform, publish, adapt, edit, or create derivative works from such materials or content or link to this site without the prior express written permission of Harding or the owner of such rights. You may, however: print copies of the information or store the files on your own computer for personal use only. Harding and its affiliates reserve all other rights. This site is for informational purposes only and is not intended to be a solicitation, offering or recommendation of any security, investment management service or advisory service. This website does not intend to provide investment, tax or legal advice. Harding does not represent that the securities, products, or services discussed in this web site are suitable or appropriate for all investors. The information on this site is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation, or which would subject Harding to any registration requirement within such jurisdiction or country. The reliability and accuracy of the material on this website cannot be assured, because of possible technical malfunctions and unauthorized tampering. The material on this site, including any opinions expressed herein, are subject to change without notice. The content, material, and links provided herein are provided by Harding as a convenience to its customers. Harding does not warrant the accuracy or completeness of the content, materials, links, and other items contained on this site or any other site. Harding makes no representation about the suitability of this documentation for any purpose. It is provided as is without express or implied warranty. Past performance is no guarantee of future results. No part of this site may be reproduced in any form, or referred to in any other publication without express written consent. Any links to other Internet sites ("hyperlinks") are included as a convenience for our visitors and Harding assumes no liability for the content or the presentation of linked sites. Third party links to this website are permitted only by prior written permission. Harding does not endorse nor have under its control the content of such links. No representation or warranty is provided for any software or other materials that may be downloaded from this website.