BNY Mellon Alternative

The Goldman Sachs Group is a leading global investment banking, securities and investment management firm that provides a wide range of services worldwide to a substantial and diversified client base that includes corporations, financial institutions, governments and high net-worth individuals. Founded in 1869, it is one of the oldest and largest investment banking firms. The firm offers an array of services, such as currencies and commodities, trading and capital markets, merchant banking, asset management, mutual funds and securities lending programs. The Goldman Sachs Group is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers throughout the world.

Barclay's Capital is the investment banking division of Barclays Bank, which offers a range of financial services. Barclays Capital provides a variety of investment solutions for corporate, government and institutional clients. Its solutions include bonds, commodities, credit products, and fund-linked and equity derivatives. The firm also offers electronic trading, equity origination and restructuring services. It is one of the leading credit traders in the United States. Barclays Capital also provides financial advisory, capital raising, financing and risk management services to various corporations. Additionally, it deals in securitization services. The firm s private equity provides a range of buyout and infrastructure capabilities.

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.