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Investment BankingValuation, Leveraged Buyouts, and Mergers & AcquisitionsComparable Companies Analysis - Template

JOSHUA ROSENBAUM JOSHUA PEARL

($ in millions)

List of Comparable CompaniesCompany TargetCo Ticker TTT Business Description [to come] Equity Value Enterprise Value LTM Sales -

Company A

AAA

[to come]

-

-

-

Company B

BBB

[to come]

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-

-

Company C

CCC

[to come]

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-

-

Company D

DDD

[to come]

-

-

-

Company E

EEE

[to come]

-

-

-

Company F

FFF

[to come]

-

-

-

Company G

GGG

[to come]

-

-

-

Company H

HHH

[to come]

-

-

-

Company I

III

[to come]

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-

-

Company J

JJJ

[to come]

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-

-

Company K

K--

[to come]

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-

-

Company L

LLL

[to come]

-

-

-

Company M

MMM

[to come]

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-

-

Company N

NNN

[to come]

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-

-

Company O

OOO

[to come]

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-

-

ValueCo CorporationBenchmarking Analysis Financial Statistics and Ratios, Page 1($ in millions, except per share data)

Market Valuation Equity Value Enterprise Value -

LTM Financial Statistics Gross Profit Net Income -

Company TargetCo Tier I: Large-Cap Company A Company B Company C Company D Company E Mean Median Tier II: Mid-Cap Company F Company G Company H Company I Company J Mean Median Tier III: Small-Cap Company K Company L Company M Company N Company O Mean Median Overall Mean Median High Low

Ticker TTT

Sales

EBITDA -

EBIT

LTM Profitability Margins Gross Net Profit EBITDA EBIT Income (%) (%) (%) (%) NA NA NA NA

Sales Hist. Est. 1-year 1-year 0% 0%

Growth Rates EBITDA Hist. Est. Hist. 1-year 1-year 1-year 0% 0% 0%

EPS Est. 1-year 0%

Est. LT 0%

AAA BBB CCC DDD EEE

-

-

-

-

-

-

-

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

0% 0% 0% 0% 0% 0% 0%

0% 0% 0% 0% 0% 0% 0%

0% 0% 0% 0% 0% 0% 0%

0% 0% 0% 0% 0% 0% 0%

0% 0% 0% 0% 0% 0% 0%

0% 0% 0% 0% 0% 0% 0%

0% 0% 0% 0% 0% 0% 0%

FFF GGG HHH III JJJ

-

-

-

-

-

-

-

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

0% 0% 0% 0% 0% 0% 0%

0% 0% 0% 0% 0% 0% 0%

0% 0% 0% 0% 0% 0% 0%

0% 0% 0% 0% 0% 0% 0%

0% 0% 0% 0% 0% 0% 0%

0% 0% 0% 0% 0% 0% 0%

0% 0% 0% 0% 0% 0% 0%

K-LLL MMM NNN OOO

-

-

-

-

-

-

-

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

0% 0% 0% 0% 0% 0% 0%

0% 0% 0% 0% 0% 0% 0%

0% 0% 0% 0% 0% 0% 0%

0% 0% 0% 0% 0% 0% 0%

0% 0% 0% 0% 0% 0% 0%

0% 0% 0% 0% 0% 0% 0%

0% 0% 0% 0% 0% 0% 0%

NA NA 0% 0%

NA NA 0% 0%

NA NA 0% 0%

NA NA 0% 0%

0% 0% ### 0% ### 0%

0% 0% 0% 0%

0% 0% 0% 0%

0% 0% 0% 0%

0% 0% 0% 0%

0% 0% 0% 0%

0% 0% 0% 0%

Source: Company filings, Bloomberg, Consensus Estimates Note: Last twelve months data based on September 30, 2008. Estimated annual financial data based on a calendar year.

ValueCo CorporationBenchmarking Analysis Financial Statistics and Ratios, Page 2($ in millions, except per share data)

General Predicted Beta 1.00 ROIC (%) 0%

Return on Investment ROE (%) 0% ROA (%) 0% Implied Div. Yield (%) NA

Company TargetCo Tier I: Large-Cap Company A Company B Company C Company D Company E Mean Median Tier II: Mid-Cap Company F Company G Company H Company I Company J Mean Median Tier III: Small-Cap Company K Company L Company M Company N Company O Mean Median Overall Mean Median High Low

Ticker TTT

FYE Dec-31

LTM Leverage Ratios Debt / Debt / Net Debt / Tot. Cap. EBITDA EBITDA (%) (x) (x) 0% 0.0x 0.0x

LTM Coverage Ratios EBITDA / EBITDA EBIT / Int. Exp. - Cpx/ Int. Int. Exp. (x) (x) (x) 0.0x 0.0x 0.0x

Credit Ratings

Moody's NA

S&P NA

AAA BBB CCC DDD EEE

Dec-31 Dec-31 Dec-31 Dec-31 Dec-31

1.00 1.00 1.00 1.00 1.00 1.00 1.00

0% 0% 0% 0% 0% 0% 0%

0% 0% 0% 0% 0% 0% 0%

0% 0% 0% 0% 0% 0% 0%

NA NA NA NA NA NA NA

0% 0% 0% 0% 0% 0% 0%

0.0x 0.0x 0.0x 0.0x 0.0x 0.0x 0.0x

0.0x 0.0x 0.0x 0.0x 0.0x 0.0x 0.0x

0.0x 0.0x 0.0x 0.0x 0.0x 0.0x 0.0x

0.0x 0.0x 0.0x 0.0x 0.0x 0.0x 0.0x

0.0x 0.0x 0.0x 0.0x 0.0x 0.0x 0.0x

NA NA NA NA NA

NA NA NA NA NA

FFF GGG HHH III JJJ

Dec-31 Dec-31 Dec-31 Dec-31 Dec-31

1.00 1.00 1.00 1.00 1.00 1.00 1.00

0% 0% 0% 0% 0% 0% 0%

0% 0% 0% 0% 0% 0% 0%

0% 0% 0% 0% 0% 0% 0%

NA NA NA NA NA NA NA

0% 0% 0% 0% 0% 0% 0%

0.0x 0.0x 0.0x 0.0x 0.0x 0.0x 0.0x

0.0x 0.0x 0.0x 0.0x 0.0x 0.0x 0.0x

0.0x 0.0x 0.0x 0.0x 0.0x 0.0x 0.0x

0.0x 0.0x 0.0x 0.0x 0.0x 0.0x 0.0x

0.0x 0.0x 0.0x 0.0x 0.0x 0.0x 0.0x

NA NA NA NA NA

NA NA NA NA NA

K-LLL MMM NNN OOO

Dec-31 Dec-31 Dec-31 Dec-31 Dec-31

1.00 1.00 1.00 1.00 1.00 1.00 1.00

0% 0% 0% 0% 0% 0% 0%

0% 0% 0% 0% 0% 0% 0%

0% 0% 0% 0% 0% 0% 0%

NA NA NA NA NA NA NA

0% 0% 0% 0% 0% 0% 0%

0.0x 0.0x 0.0x 0.0x 0.0x 0.0x 0.0x

0.0x 0.0x 0.0x 0.0x 0.0x 0.0x 0.0x

0.0x 0.0x 0.0x 0.0x 0.0x 0.0x 0.0x

0.0x 0.0x 0.0x 0.0x 0.0x 0.0x 0.0x

0.0x 0.0x 0.0x 0.0x 0.0x 0.0x 0.0x

NA NA NA NA NA

NA NA NA NA NA

1.00 1.00 1.00 1.00

0% 0% 0% 0%

0% 0% 0% 0%

0% 0% 0% 0%

NA NA 0% 0%

0% 0% 0% 0%

0.0x 0.0x 0.0x 0.0x

0.0x 0.0x 0.0x 0.0x

0.0x 0.0x 0.0x 0.0x

0.0x 0.0x 0.0x 0.0x

0.0x 0.0x 0.0x 0.0x

Source: Company filings, Bloomberg, Consensus Estimates

ValueCo CorporationComparable Companies Analysis($ in millions, except per share data)

Current Share Company TargetCo Tier I: Large-Cap Company A Company B Company C Company D Company E Mean Median Tier II: Mid-Cap Company F Company G Company H Company I Company J Mean Median Tier III: Small-Cap Company K Company L Company M Company N Company O Mean Median Overall Mean Median High Low Ticker TTT Price -

% of 52-wk. High NA

Equity Value -

Enterprise Value -

LTM Sales NA

2008E Sales NA

2009E Sales NA

Enterprise Value / LTM 2008E 2009E EBITDA EBITDA EBITDA NA NA NA

LTM EBIT NA

2008E EBIT NA

2009E EBIT NA

LTM EBITDA NA

Total Debt / 0.0.x

LTM EPS NA

Price / 2008E EPS NA

2009E EPS NA

LT EPS Growth 0%

Margin EBITDA

AAA BBB CCC DDD EEE

-

NA NA NA NA NA

-

-

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

0.0.x 0.0.x 0.0.x 0.0.x 0.0.x 0.0x 0.0x

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

0% 0% 0% 0% 0% 0% 0%

FFF GGG HHH III JJJ

-

NA NA NA NA NA

-

-

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

0.0.x 0.0.x 0.0.x 0.0.x 0.0.x 0.0x 0.0x

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

0% 0% 0% 0% 0% 0% 0%

K-LLL MMM NNN OOO

-

NA NA NA NA NA

-

-

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

0.0.x 0.0.x 0.0.x 0.0.x 0.0.x 0.0x 0.0x

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

NA NA NA NA NA NA NA

0% 0% 0% 0% 0% 0% 0%

NA NA 0.0x 0.0x

NA NA 0.0x 0.0x

NA NA 0.0x 0.0x

NA NA 0.0x 0.0x

NA NA 0.0x 0.0x

NA NA 0.0x 0.0x

NA NA 0.0x 0.0x

NA NA 0.0x 0.0x

NA NA 0.0x 0.0x

NA NA 0% 0%

0.0x 0.0x 0.0x 0.0x

NA NA 0.0x 0.0x

NA NA 0.0x 0.0x

NA NA 0.0x 0.0x

0% 0% 0% 0%

Source: Company filings, Bloomberg, Consensus Estimates Note: Last twelve months data based on September 30, 2008. Estimated annual financial data based on a calendar year.

TargetCo (NYSE:TTT)Input Page($ in millions, except per share data)

Business Description [to come]

General Information Company Name Ticker Stock Exchange Fiscal Year Ending Moody's Corporate Rating S&am