PREPS(TM) 2006-1 - Fifth European PREPS(TM) Financing for Mid-Sized Businesses Successfully Launched

PREPS(TM):

-- Seven-year fixed rate, non-collateralised and subordinated
corporate funding

-- EUR 321 million for 61 companies from Austria, Belgium,
Germany, Italy, Luxembourg and Switzerland

-- PREPS(TM) Class A Senior notes rated Aaa/AAA by Moody's and
Fitch

-- First SME Cash CDO programme opens additional markets in
Europe

PREPS(TM) 2006-1, the fifth placement of the unique European
financing platform PREPS(TM) for mid-sized companies has successfully
closed and its final ratings have been published by Moody's and Fitch.
With a volume of EUR 321 million, this most recent transaction has
further expanded the success of the PREPS(TM) Platform, initiated in
2004 by Capital Efficiency Group (CEG), based in Zug, Switzerland,
within Europe. Since its inception in spring 2004, the platform has
provided 275 mezzanine finance arrangements totalling over EUR 1.8
billion to businesses in six European countries.
61 companies based in Austria, Belgium, Germany, Italy, Luxembourg
and Switzerland and covering 24 different industries have participated
in PREPS(TM) 2006-1. These companies are benefiting from a fixed
interest rate of 7.8% (7.61% for Italian companies) plus a step-up of
up to 2%.

For further information, please see attached document.