2. Webcast Guidelines The audience is in listen-only mode. Please e-mail questions via the Q&A panel box. Select audience questions will be answered during the last five minutes of the program. WebEx customer support: 866-229-3239

3. MODERATOR Matt Miller Editor at Large The Deal

4. EXPERT PANELIST Jay Jester Managing Director, Business Development Audax Group

5. EXPERT PANELIST John Sinnenberg Chairman Cyprium Investment Partners

6. EXPERT PANELIST Tom Schauerman Partner Norwest Equity Partners

10. Purchase Price and Equity Contribution of Middle Market LBO Loans (Defined as Issuers with EBITDA of $50 Million or Less) Total Sources/adjusted Pro Forma Trailing EBITDA Prior to 2003 Media, Telecom, Energy and Utility Deals, were excluded. Now all outliers, regardless of the industry, are excluded. *Equity component of Purchase Price Breakdown represents total equity (new + rollover). Equity Contribution includes only new equity. Purchase Price Breakdown* Equity Contribution* Source: S&P Capital IQ

11. AUDIENCE Q&A

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