Contact: John Hartgen
             703-739-0800
             [email protected]

DYNAMICS OF RESTRUCTURING DEALMAKING ON DISPLAY AT ABI’S CORPORATE FINANCIAL RESTRUCTURING PROGRAM

May 23, 2007, Alexandria, Va. — The American Bankruptcy Institute (ABI) will hold its Seventh Annual Complex Financial Restructuring Program at the Four Seasons Hotel in Las Vegas, Sept. 6-7, 2007. The program offers a unique approach to understanding the role of investment bankers and financial advisors in insolvency and restructuring contexts. A case study will be presented that will dramatize the various perspectives of parties-in-interest as they examine strategic alternatives and seek the highest value for an insolvent company. Leaders in the industry will play the role of the major constituents as they work through the case study in this day-long program. The program is presented by ABI's Investment Banking Committee and will be held in conjunction with the ABI 15^th Annual Southwest Bankruptcy Conference.

Presenting the case study will be Lorie R. Beers of KPMG Corporate Finance LLC (New York), Saul E. Burian of Houlihan Lokey (New York),  James D. Decker of Alvarez & Marsal, LLC (Atlanta) and Peter S. Kaufman of Gordian Group, LLC (New York).

The “Positions of the Case Constituents” portion of the program will be moderated by Saul Burian, with the panelists taking on the following roles:

• CEO/Board of Directors: R. Neal Batson of Alston & Bird LLP (Atlanta)
• Chief Restructuring Officer: Holly Felder Etlin of AlixPartners LLP (New York)
• Counsel to Company: Paul Basta of Kirkland & Ellis LLP (New York)
• First Lien Holders: Stephen Karotkin of Weil, Gotshal & Manges LLP (New York)
• Second Lien Holders: Matthew Barr of Milbank, Tweed et al. (New York)
• MAHI Noteholders: BerrySpears of Fulbright & Jaworski, LLP (Austin, Texas)
• Trade Creditors: Thomas R. Califano of DLA Piper US LLP (New York)
• Unions: Paula A. Schmeck of Thorp Reed & Armstrong, LLP (Pittsburgh)
• Private Equity Group: Niv Harizman of Plainfield Asset Management LLC  (Greenwich, Conn.)

The first team presentation, “Advisors to the Second Lien Lenders,” will be moderated by James D. Decker that will include role playing by the following representative panelists:

• Investment Banker: J. Scott Victor of Special Situations Group/SSG National City Investment Banking (Philadelphia)
• Turnaround Professional: Howard Brod Brownstein, NachmanHaysBrownstein, Inc. (Philadelphia)
• Lawyer: David S. Heller of Latham & Watkins LLP (Chicago)
• Financing Source: Mitchell E. Drucker of CIT Corporate Finance (New York)

The second team presentation, “Advisors to the MAHI Noteholders” will be moderated by Lorie R. Beers and include these panelists in the following roles:

• Investment Banker: William Q. Derrough of Jefferies & Company, Inc. (New York)
• Hedge Fund: Patrick T. Collins of D.E. Shaw & Co. L.P. (New York)
• Lawyer: Dion W. Hayes of McGuireWoods LLP (Richmond, Va.)
• Financing Source: Joseph Catalano of FirstLight Financial Corporation (Old Greenwich, Conn.)

The final team presentation, “Advisors to the Private Equity Sponsor/Debtor,” will be moderated by Peter S. Kaufman of Gordian Group, LLC (New York) and will feature the following representative panelists:

• Investment Banker: Flip Huffard of The Blackstone Group (New York)
• Private Equity Group: Niv Harizman of Plainfield Asset Management LLC (Greenwich, Conn.)
• Lawyer: Daniel C. Stewart of Vinson & Elkins LLP (Dallas)
• Financing Source: Michael P. Keller of CapitalSource Finance LLC (Nashville, Tenn.)

For more information on ABI’s Seventh Annual Corporate Financial Restructuring Program, please visit www.abiworld.org/CFRP07.

###

ABI is the largest multi-disciplinary, nonpartisan organization dedicated to research and education on matters related to insolvency. ABI was founded in 1982 to provide Congress and the public with unbiased analysis of bankruptcy issues. The ABI membership includes nearly 11,500 attorneys, accountants, bankers, judges, professors, lenders, turnaround specialists and other bankruptcy professionals providing a forum for the exchange of ideas and information. For additional information on ABI, visit www.abiworld.org. For additional conference information, visit http://www.abiworld.org/conferences.html