Page 1 OVERVIEW OF THE CONNECTICUT MARKET The current market environment for financing options for Connecticut companies Thomas J. Shields Managing Director January 8, 2008

Page 2 Fiscal 2007 Revenue by Industry Source: Capital IQ ConnecticutUnited States –When we examine the fiscal 2007 revenue by industry, Industrials and Financials have a significantly greater share of the Connecticut market while Consumer Discretionary and Information Technology are low compared to the United States as a whole.

Page 3 Historic Debt Spreads

Page 4 Leveraged Loan Default Trend –Default rates continue to decline reaching 1.2% at year end 2007, the lowest level since – Global leveraged loan default rates are forecast to increase, but remain below historical averages of 4- 5% by the end of Source: Moody's

Page 5 Annual Venture Capitalist Transactions Over Ten Years Source: Capital IQ ConnecticutUnited States –The trend in the number of Venture Capitalist transactions is very similar between Connecticut and the whole U.S. market.

Page 6 Venture Capitalist Investment by Industry Over 5 Years Source: Capital IQ ConnecticutUnited States –Connecticut has received comparatively higher venture capital investment in the Telecommunications Services, Information Technology, and Consumer Discretionary segments, than the overall U.S. market.

Page 7 Annual Merger & Acquisition Transactions Over Ten Years Source: Capital IQ ConnecticutUnited States –The trend of merger & acquisition transactions in Connecticut since 1998 compares with overall U.S. trends.

Page 8 Merger & Acquisition EBITDA Multiple Valuations Over Ten Years Source: Capital IQ ConnecticutUnited States

Page Merger & Acquisition EBITDA Valuation Multiples and Total Transactions by Quarter Source: Capital IQ Median EBITDA MultipleNumber of Transactions

Page 10 Annual Initial Public Offerings Over Ten Years Source: Capital IQ ConnecticutUnited States –The Connecticut market has seen a similar trend in initial public offerings to the U.S. market. –Connecticut achieved a high number of IPOs in 2007 compared with prior years.

Page 11 Initial Public Offerings by Industry Over Five Years Source: Capital IQ ConnecticutUnited States –The number of Connecticut based companies electing to raise capital through an initial public offering is highly dominated by the Financial, Industrials, and Information Technology industries.