1. Stanley Securities September 23, 2010

2. David Lin, Investment Grade Credit Research Shengbiao Luo, Credit Hybrids Sales Casey Wang, Market Risk Management George Wang, Credit Hybrids Trading Peilin Zhang, Quantitative Credit Strategies The World Class Team

3. Agenda The Objective The solution – downgrade contingent protection Cashflow Payoff Scenarios Cost Analysis Suitability and limitation Appendix – Term Sheet

4. The Objective Offer counterparty default protection against deep in the money FX Forward: Counterparty: UJB Financial Notional: 500MM EUR Time to maturity: 3 years Contractual forward price: $1.024/EUR Spot USD/EUR rate: $1.22/EUR Current Exposure: $98MM Need protection against UJB’s gradual financial distress

5. The Solution Rating Contingent Credit Default Swap (RCCDS) Credit protection contingent on rating downgrade Notional of default payoff contingent on mark to market value of FX forward $0.5MM savings in protection cost

6. Cash flows Risk Leg Premium Leg Time UJB downgrades

7. Payoff Scenario

8. RCCDS is Cost Effective Notional ($MM) Protection PV ($MM) Upfront price points Running Spread (bps) CDS (40% recovery) 981.61.6557 CDS (25% recovery) 982.02.0772 Full protection on expected FX forward MV 98*2.12.1475 RCCDS 98*1.61.6356 25% reduction in premium compared with full protection * Based on current MV of FX forward, future exposure may vary

9. Suitability and Limitations No protection against out of blue default May need to remake the FX Forward trade Cost: $50K

10. $500,000 to your bottom line

11. Term Sheet Protection Seller: Stanley Securities Protection Buyer: Rauxon Energy Co. Trade Date: 10/1/2010 Expiration Date: 9/30/2013 Reference Entity: UJB Financial Seller Pays: Payoff: (FX Forward Market Value) + × (1 – Recovery) Credit Event: Downgrade, followed by bankruptcy Settlement: Cash (USD) Buyer pays: 56 bps on $98MM notional Standardized quarterly schedule