7.6x 7.8x7.1x

6.7x 6.6x7.1x 7.3x

8.4x 8.4x

9.7x9.1x 8.8x

6.x

0.0x

6.0x

12.0x

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2H08

Senior Debt/EBITDA Sub Debt/EBITDA Equity/EBITDA Others15%

25%

35%

45%

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2H08

*Purchase Price Breakdown Equity Contribution

Average Purchase Price and Equity Contribution by Sponsors of All Leveraged Buyout Loans

1997 – 2H08

* Prior to 2003 Media, Telecom, Energy and Utility Deals, were excluded. Now all out liars, regardless of the industry, are excluded.

7.9x 8.1x7.7x

6.3x 6.1x6.5x

7.1x 7.4x8.2x

8.6x

9.8x 9.5x9.1x

0.0x

6.0x

12.0x

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2H08

Senior Debt/EBITDA Sub Debt/EBITDA Equity/EBITDA Others15%

25%

35%

45%

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2H08

Purchase Price Breakdown Equity Contribution

Average Purchase Price and Equity Contribution by Sponsors of Large Corporate LBO Loans

(Defined as Issuers with EBITDA of more than $50M)

1997 – 2H08

* Prior to 2003 Media, Telecom, Energy and Utility Deals, were excluded. Now all out liars, regardless of the industry, are excluded.

7.6x 7.5x7.1x 6.9x

5.9x

6.7x7.2x

8.5x8.1x

9.3x

8.3x 8.3x

7.0x

0.0x

6.0x

12.0x

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2H08

Senior Debt/EBITDA Sub Debt/EBITDA Equity/EBITDA Others

15%

25%

35%

45%

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2H08

Equity Contribution

Average Purchase Price and Equity Contribution by Sponsors of Middle Market LBO Loans

(Defined as Issuers with EBITDA of less than $50M) 1997 – 2H08

Purchase Price Breakdown

•Prior to 2003 Media, Telecom, Energy and Utility Deals, were excluded. Now all out liars, regardless of the industry, are excluded.