INNOVATIVE PARTNERSHIPS FOR A MORE SUSTAINABLE

TEXTILE INDUSTRYNew York | October 21, 2007

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Fiber

Spinner

Knit

Cut & Sew

Retailer Consumer

Traditional Retailer Supply Chain

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Quality

Experience

Integrity

Quantity

Hong KongJune 28, 2007

Presenter: Dr. Julia SloanSloan International

Sloanconsult@aol.com

Cultural Diversity Awareness Session

Goldman Sachs Tokyo

“The Knot”

Tension at the Intersection of 4 Cultures

American Culture

Japanese Culture

Female Culture

Goldman Culture

Remember

The next step doesn’t have to be up Step over–Step around–(Step out)

Game Plan Draft

Stop Start

Acting like a “girl” Behaving like a working woman

Being an imposter (a “she-man”) Being the real, authentic you

Being invisible Becoming visible

Asking permission Begging forgiveness

Waiting to be told Taking action

Diminishing perks Enlarging perks (Size matters!)

Understanding the consequences Being credible and accountable

Executive Summary

Vincent J. Puma—Founding Member and PresidentMr. Puma started his career in the securities business in 1992 after finance studying at Baruch College and New York University. He worked at Gruntal & Co. as a broker trainee before joining Josephthal Securities in 1994, where he became an account executive and worked with senior management. In 1995, Mr. Puma joined Roan Capital Partners, L.P., where he was a partner and chief operating officer. In such capacity. Mr. Puma was directly responsible for growing the firm from 5 to over 150 employees and raising hundreds of millions in client capital. Mr. Puma is also a director and partner of Network Agency Inc., a New York based insurance company, and co-founder of the general partner and the investment manager. Mr. Puma is founder of the Carlo Foundation, a registered 510(c)(3) organization and a principal of Capital Growth Financial, LLC a NASD registered broker dealer. Mr. Puma currently serves as a board member of Association of Retarded Citizens and Meridian Health, Jersey Shore University Medical Center.

Kevin Nugent—Member and Head Portfolio Manager Mr. Nugent has over 23 years in commodities trading and asset management. He has held senior positions at Smith Barney, UBS and Prudential Securities where he developed low risk market strategies by using a proprietary technical model and statistical analysis. He also has extensive experience in developing various hedging strategies for commercial and institutional clients. He is also the creator of the strategy deployed by Hudson Trading Partners I, L.P.

Randy Hansen—General PartnerMr. Hansen is 56 years old. He received a BS in Business from Northwestern State University in South Dakota in 1970, he then worked for the First Nation Bank until 1974. Upon leaving the First Nation where he was a trust officer responsible for investing and overseeing one hundred million dollars and thousands of acres of land, he then entered the agriculture industry and began running the business aspect of several farms and continues that profession today. Over the past 30 years, Mr. Hansen has built and managed apartments. He has also built and managed a small restaurant chain and a video lottery company. Mr. Hansen has over 30 years experience in managing and trading stocks, bonds, commodities and option funds. He is also co-founder of the general partner.

WESTERN CAPITAL, LLCWestern Capital, LPI

Loan Characteristics / Borrower Motivation

Western Capital will pursue corporate loans and real-estate flavored loans Hard money collateralized loans will have the following characteristics

Senior secured/first-lien depending on structure 2-5 year maturities – preference to stay short in this environment 12-15% unlevered yields, before penalties Cautious approach to loan-to-value calculations

50% loan-to-value on land 65% loan-to-value on income properties, depending on circumstances

Significant default penalties Interdisciplinary approach to structure, documentation and covenants where possible

e.g., morph “hard money” loans into structurally senior corporate loans; take warrants Collateral types

Western Capital will maintain a flexible approach with respect to acceptable collateral Construction loans and raw land collateral will be avoided Corporate loans will be analyzed on the merits of the business “Extended balance sheet “collateral

Small corporate loans will be made on the basis of traditional credit and enterprise analysis Borrower Profile

Typical “hard money” borrower in target space is a credit- or time-impaired borrower with high asset quality Timing Documentation Credit worthiness / bureaucratic appeal Lack of seasoning

WESTERN CAPITAL, LLC 12

Introduction

WESTERN CAPITAL, LLC 13

SourcingCredit Review

Investment AnalysisServicing

Monitoring

Team

Process

LocalPresence

Network

Western Capital Structure (Preliminary)

WESTERN CAPITAL, LLC 14

Western Capital, LLCDBA

Western Financial

GreenspunCorp Principals

StrategicFund

Investor

Western Capital, LPI

Western Financial Servicing

FSI National Lenders Services

SoCal Co. LV Co.

Western Las Vegas

Jeff Fine/Greenspuns

Fund Loans

Mgmt. Agreement

Master Servicing

Agreement

JV

JV

Subservicing Agreement

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