Loan Advisor ™

CMBS Surveillance

Distressed Debt

Maturing Loans

© Investcap Advisors LLC. 2009 Confidential

© Investcap Advisors LLC. 2009 Confidential

About Us

Reasons to Consider Investcap Advisors:

• Largest CMBS database with loan and property performance data updated monthly

• Over 50 unique search criteria and by CMBS deal

• Unmatched industry insight

• 24/7 secure access

• Customized client reports

• Scalable pricing based on geography & property type

• Research and analysis consulting

• Customer centric service

• Investcap Advisors LLC is an industry leader in providing quality data on commercial real estate underlying the Commercial Mortgage Backed Securities market. Our user-friendly web interface allows clients the ability to search for information by CMBS transaction and dig down into the underlying real estate loan and property characteristics. Our platform also allows users to conduct searches over the database according to a user-defined set of criteria.

• With over 50 such filters to choose from, our clients are able to gain valuable insights into CMBS and the national property markets represented within that universe. Sourcing deals and access to quality, in-depth information is critical in the marketplace today. Our first product, Loan Advisor, is designed with this in mind and provides support for CMBS investors, opportunistic real estate debt and equity investors, lenders, and leasing brokers.

© Investcap Advisors LLC. 2009 Confidential

Management Team

John Richard, Managing DirectorWithin the fixed income universe, John focused his career on the analysis of securities collateralized by commercial mortgages and beginning in 1999 began to build a portfolio of CMBS holdings that exceeded $2 billion in size. Throughout his career and due to the nature of the client assets being managed, John also took an active role in trading the securities and performed much of the due diligence credit work on the underlying collateral. With capital preservation as a guiding principal and mindful of the underestimation of risk in lower credit quality instruments, John's investment activity in CMBS was confined exclusively to the highest layers of the capital structure within this sector. John’ s career has been with prestigious firms such as Taurus Investments, State Street Global Advisors & Laughlin Group of Companies.

Scott Barrie, Managing DirectorScott has over 25 years experience in the real estate mortgage industry most recently for 9 years with Bayview Financial LP & it’ s subsidiary Interbay Funding LLC, managing a team of 120 sales persons in the US and Canada. As a Managing Partner at Institutional Mortgage Acquisition Corp., a whole loan trading firm, Scott ran the sales desk and was responsible for over $1 Billion of non-agency/conduit trades. He has extensive experience in evaluating risk and managed the Non-Performing Assets division at TMAC as Sr. Vice President and Graystone Mortgage as Executive Vice President. An entrepreneur early on, Scott founded Servicing Solutions Inc., one of the first loss mitigation software firms partnering with firms such as The Mortgage Group and Asset Strategies Group on RTC and FDIC transactions.

Dr. Kirit Patel, Managing DirectorKirit has a Ph.D., MS and BE degree from Manchester University, England along with having an MBA degree from the elite London School of Business. He has years of business and technical expertise of founding multiple companies in the business and technology arena. He was the Founder and CEO of Smart Storage Inc, a software company, now part of EMC that specializes in providing archiving software solutions to enterprises. Prior to that, Kirit was the founder and CEO of Gutenberg Systems, a company that provided device software to large OEM manufacturers such as JVC and Sony. He has also worked as the vice president and general manager for Lotus Development Corporation's Publishing division that delivered financial and business information databases. He also co-founded Datext, the first commercial publisher of information on CD-ROM.

© Investcap Advisors LLC. 2009 Confidential

CMBS Surveillance

• For value investors specifically looking for dis tre s s ed CMBS loans , Loan Advisor

combines recent financial information on properties with metrics such as DSCR, payment status and monthly Special Servicer Watch List and Delinquency Comments.

• This smart tool means a lot moreorig inations for commercial real estate mortgage lenders. Subscribing to this proprietary online service provides you with access to in-depth information on tens of thousands of maturing CMBS loans and property ownership information.

• Identifying loans in special servicing is fast and easy. Investment sales and leasing firms who are interested in workout opportunitie s have all of the information at their fingertips.

Custom Search & Critical Data presented in easy to navigate screens

© Investcap Advisors LLC. 2009 Confidential

•Over 50 unique search criteria

•Export data reports in XML and Excel

© Investcap Advisors Inc. 2009 Confidential

With a few Easy Clicks your data is available

• Review a high level set of data

• Drill down into the details

• Loan & property financial performance data

• Real estate Assessor information

• Leasing & tenancy information

• Watchlist & delinquency comments

• Download custom reports

• Updated from source documents monthly

© Investcap Advisors Inc. 2009 Confidential

Productivity & Tracking Features

• Save repetitive search criteria

• Save loans/properties in your Favorite Portfolio

• Add comments to track your activity

• Map and Street View

• Custom Reporting

© Investcap Advisors Inc. 2009 Confidential

Investcap Advisors LLCBay Colony Corporate Center1050 Winter Street, Suite 1000Waltham, MA 02451

800-667-6007www.investcapadvisors.com