Banc of America

Founded in 2005, Apidos Capital Management provides investment opportunities in the leveraged loan asset class. The company s management team staff includes experienced credit professionals and loan market specialists. It is a subsidiary of Resource America, which is a specialized asset management company. It uses industry specific expertise to generate and administer investment opportunities in the structured finance, real estate and equipment leasing sectors. Resource America and its affiliates have developed and maintained a credit options for financial services-related businesses. The company has completed more than 30 CDO transactions through Trapeza Capital Management, Ischus Capital Management and Resource Europe Management Limited.

Steel Partners Holdings operates in niche banking markets through its subsidiary, WebBank. WebBank is a state chartered industrial loan corporation that provides commercial and consumer specialty finance services. WebBank focuses primarily on the United States Department of Agriculture business and industry lending and fee for service lending. WebBank also offers a limited range of deposit products. All of its deposit products, with the exception of certificates of deposit, are with business customers. During the year ended Dec. 31, 2004, WebBank suspended its accounts receivable factoring activities. Accounts receivable factoring had constituted WebBank's principal line of business.