Debt and Equity Information Agent

---

Tender and Exchange Offers

Our exceptional technical resources and extensive relationships within the financial community enable us to provide senior management with guidance, insight, and advice in capital market transactions. Our Information Agent services address the three elements that are the essential underpinnings of a successful tender offer:

• Mechanics
• Information Flow
• Information Analysis

From a mechanical perspective, our services assure that all shareholders receive the offering documents on a timely basis; this includes record holders, Street holders, institutions and arbitrageurs. In addition, we manage the flow of information between the issuer and shareholders. This enables shareholders to make an informed decision, and provides management with current information on the status of the offer. Finally, our analysis and interpretation of information flowing from shareholders, the Street, and the Market allows us to gauge the success of the offer at an early stage, spot trends, and provide accurate estimates of the final outcome.

Debtholder Identification

Morrow has the experience and specialized resources to assist corporations, municipalities and investment bankers with all aspects of the debt restructuring process. Prior to a tender/consent going public, Morrow can identify debtholders in a discreet manner and provide our clients and their advisors with an accurate depiction of the institutional profile.

Corporate Restructuring

Debt tender and exchange offers, along with debtholder consent solicitations to amend the terms of the indentures, have been used with greater frequency as restructuring tools. Our Debtholder Identification Program is often utilized in advance of any transaction to provide the client with a detailed debtholder profile which leads to a more accurate assessment of the transaction's likelihood of success.

Bankruptcy Services

Our bankruptcy specialists have the experience and expertise required to penetrate the departmental layers within banks and brokerages that may conceal creditors as well as debt and equity holders. By law, these holders must receive appropriate notification and grant approval for transactions. Morrow will help you proactively plan for each vote and distribute the necessary materials on time to each voting class.