SANDLER O’NEILL & PARTNERS, L.P.

A Recognized Leader in Financial Institutions Investment Banking Services

Founded in 1988, Sandler O'Neill & Partners is a full-service investment banking firm dedicated to providing comprehensive, innovative, advisory and transaction execution services to the financial industry. The firm specializes in strategic business planning, balance sheet management, mergers and acquisitions advisory, capital markets, mutual-to-stock conversions, investment portfolio and interest rate risk management, fixed income securities transactions, and mortgage finance restructurings. Sandler O’Neill is also a market maker in hundreds of financial stocks and publishes equity and fixed income research focused on selected banks, thrifts and insurance companies, credit card companies, investment banks, asset managers and specialty finance companies.

Since 1989, Sandler O’Neill’s mergers and acquisitions advisory clients have hired the firm for its comprehensive industry contacts, firm grasp of industry trends and relative values, and extensive experience structuring, negotiating and executing transactions. Since 2000, Sandler O’Neill has assisted clients with whole bank and branch transactions, fairness opinions, strategies to maximize shareholder value, leveraged and management buyouts, and line of business acquisitions. In 1998 and 2002, Sandler O'Neill ranked number one in mergers and acquisitions of banks and thrifts, by total number of announced transactions.

In the Capital Markets area, in addition to underwriting initial and follow-on public offerings of equity securities, assisting with private placements of equity securities and underwriting the public offering of debt securities, Sandler O’Neill specializes in two unique capital markets segments: pooled trust preferred transactions for banks, thrifts and insurance companies, and convertible securities transactions for financial institutions. The firm currently has about 40% market share in the $10 billion market for bank pooled trust preferred transactions.

Sandler O’Neill’s Fixed Income Group helps clients enhance earnings and manage interest rate risk through effective balance sheet management techniques. The firm trades and underwrites all forms of fixed income securities, including corporate bonds, convertible securities, agency debt, asset-and mortgage-backed securities, trust preferreds and municipal bonds.

Sandler O’Neill publishes in-depth equity research on more than 200 financial services companies. The firm’s analysts cover small-, mid- and large-cap banks, thrifts, specialty finance companies, REITs, government sponsored entities, credit card companies, eFinance companies, investment banks and insurers. Sandler O’Neill also has a group of fixed income analysts who publish a Financial Debt Quarterly and provide regular updates and customized research on both rated and unrated securities. In addition, Sandler O’Neill is a primary market maker for more than 600 NASDAQ financial stocks.

Sandler O'Neill Mortgage Finance L.P., an entity separate from Sandler O’Neill & Partners, helps clients maximize the value of their performing and non-performing loan portfolios. The firm is one of the most experienced in this sector, advising on more than 411 transactions with an aggregate principal amount of $19.5 billion in the last eight years.

Sandler O’Neill & Partners is not presently licensed to conduct mergers and acquisitions advisory or securities underwritings in mainland China, but is able to participate in the US tranches of global securities offerings of Chinese issues and to provide M&A advisory and capital markets services to Chinese companies that operate (either directly or through affiliates) in the United States.

Additional information about Sandler O’Neill can be found at www.sandleroneill.com or by calling 1-212-466-7700.