Alerts

UPDATE No. 1: Countries Limiting Short Selling or Imposing Disclosure Requirements (Excluding U.S.A. and United Kingdom)

September 25, 2008

Current as of 5:00 pm EDT, Sept. 25, 2008. Please note that Schulte Roth & Zabel LLP and Schulte Roth and Zabel International LLP (together, "Schulte Roth & Zabel") are providing the following information as a convenience to its clients and others based on information of which it is aware, from sources it has no reason to believe are unreliable. Schulte Roth & Zabel has not sought further verification with local counsel or any other persons of the information contained herein. Schulte Roth & Zabel is not providing legal advice herein and does not provide legal advice with respect to the laws or regulations of the jurisdictions below. Also, consider this Alert in light of prior advice you may have received, and consider that further information and clarifications may become available subsequent to publication of this Alert. Finally, this Alert does not and is not intended to serve as a list of short sale restrictions in all global jurisdictions.

This Update No. 1 supplements an Alert dated Sept. 21, 2008. In response to the disclosure measures and short selling restrictions imposed on Sept. 18 and 19 by the U.K. Financial Services Authority and the U.S. Securities and Exchange Commission, regulators around the world have continued to either ban short selling, add restrictions on short selling or add disclosure requirements with respect to short positions in their home jurisdiction. By banning, restricting and disclosing short sales, regulators are seeking to maintain confidence in their own markets and complement the measures taken by U.S. and U.K. regulators. Clients and others who may be affected by the requirements below are encouraged to seek advice from local counsel.