Street of Walls

SEPTEMBER 4, 2012

Announced M&A volumes of $39.8 Thus far in 3Q12, announced M&A volumes are averaging 4% below the 2Q12 weekly average level and 7% below the 3Q11 average weekly level. billion of net outflows experienced in December 2011. Corporate debt underwriting volumes of $30.8 Announced M&A volumes of $39.8

M&A

Street of Walls

SEPTEMBER 4, 2012

Announced M&A volumes of $39.8 Thus far in 3Q12, announced M&A volumes are averaging 4% below the 2Q12 weekly average level and 7% below the 3Q11 average weekly level. billion of net outflows experienced in December 2011. Corporate debt underwriting volumes of $30.8 Announced M&A volumes of $39.8

M&A

Street of Walls

SEPTEMBER 4, 2012

Announced M&A volumes of $39.8 Thus far in 3Q12, announced M&A volumes are averaging 4% below the 2Q12 weekly average level and 7% below the 3Q11 average weekly level. billion of net outflows experienced in December 2011. Corporate debt underwriting volumes of $30.8 Announced M&A volumes of $39.8

M&A

Street of Walls

SEPTEMBER 4, 2012

Announced M&A volumes of $39.8 Thus far in 3Q12, announced M&A volumes are averaging 4% below the 2Q12 weekly average level and 7% below the 3Q11 average weekly level. billion of net outflows experienced in December 2011. Corporate debt underwriting volumes of $30.8 Announced M&A volumes of $39.8

M&A

Street of Walls

SEPTEMBER 4, 2012

Announced M&A volumes of $39.8 Thus far in 3Q12, announced M&A volumes are averaging 4% below the 2Q12 weekly average level and 7% below the 3Q11 average weekly level. billion of net outflows experienced in December 2011. Corporate debt underwriting volumes of $30.8 Announced M&A volumes of $39.8

M&A

Street of Walls

SEPTEMBER 4, 2012

Announced M&A volumes of $39.8 Thus far in 3Q12, announced M&A volumes are averaging 4% below the 2Q12 weekly average level and 7% below the 3Q11 average weekly level. billion of net outflows experienced in December 2011. Corporate debt underwriting volumes of $30.8 Announced M&A volumes of $39.8

M&A

Street of Walls

SEPTEMBER 4, 2012

Announced M&A volumes of $39.8 Thus far in 3Q12, announced M&A volumes are averaging 4% below the 2Q12 weekly average level and 7% below the 3Q11 average weekly level. billion of net outflows experienced in December 2011. Corporate debt underwriting volumes of $30.8 Announced M&A volumes of $39.8

M&A

Street of Walls

SEPTEMBER 4, 2012

Announced M&A volumes of $39.8 Thus far in 3Q12, announced M&A volumes are averaging 4% below the 2Q12 weekly average level and 7% below the 3Q11 average weekly level. billion of net outflows experienced in December 2011. Corporate debt underwriting volumes of $30.8 Announced M&A volumes of $39.8

M&A

Street of Walls

SEPTEMBER 4, 2012

Announced M&A volumes of $39.8 Thus far in 3Q12, announced M&A volumes are averaging 4% below the 2Q12 weekly average level and 7% below the 3Q11 average weekly level. billion of net outflows experienced in December 2011. Corporate debt underwriting volumes of $30.8 Announced M&A volumes of $39.8

M&A

Street of Walls

SEPTEMBER 4, 2012

Announced M&A volumes of $39.8 Thus far in 3Q12, announced M&A volumes are averaging 4% below the 2Q12 weekly average level and 7% below the 3Q11 average weekly level. billion of net outflows experienced in December 2011. Corporate debt underwriting volumes of $30.8 Announced M&A volumes of $39.8

M&A

Street of Walls

SEPTEMBER 4, 2012

Announced M&A volumes of $39.8 Thus far in 3Q12, announced M&A volumes are averaging 4% below the 2Q12 weekly average level and 7% below the 3Q11 average weekly level. billion of net outflows experienced in December 2011. Corporate debt underwriting volumes of $30.8 Announced M&A volumes of $39.8

M&A

Street of Walls

SEPTEMBER 4, 2012

Announced M&A volumes of $39.8 Thus far in 3Q12, announced M&A volumes are averaging 4% below the 2Q12 weekly average level and 7% below the 3Q11 average weekly level. billion of net outflows experienced in December 2011. Corporate debt underwriting volumes of $30.8 Announced M&A volumes of $39.8

M&A

Street of Walls

SEPTEMBER 4, 2012

Announced M&A volumes of $39.8 Thus far in 3Q12, announced M&A volumes are averaging 4% below the 2Q12 weekly average level and 7% below the 3Q11 average weekly level. billion of net outflows experienced in December 2011. Corporate debt underwriting volumes of $30.8 Announced M&A volumes of $39.8

M&A

Street of Walls

SEPTEMBER 4, 2012

Announced M&A volumes of $39.8 Thus far in 3Q12, announced M&A volumes are averaging 4% below the 2Q12 weekly average level and 7% below the 3Q11 average weekly level. billion of net outflows experienced in December 2011. Corporate debt underwriting volumes of $30.8 Announced M&A volumes of $39.8

M&A

Street of Walls

SEPTEMBER 4, 2012

Announced M&A volumes of $39.8 Thus far in 3Q12, announced M&A volumes are averaging 4% below the 2Q12 weekly average level and 7% below the 3Q11 average weekly level. billion of net outflows experienced in December 2011. Corporate debt underwriting volumes of $30.8 Announced M&A volumes of $39.8

M&A

Street of Walls

SEPTEMBER 4, 2012

Announced M&A volumes of $39.8 Thus far in 3Q12, announced M&A volumes are averaging 4% below the 2Q12 weekly average level and 7% below the 3Q11 average weekly level. billion of net outflows experienced in December 2011. Corporate debt underwriting volumes of $30.8 Announced M&A volumes of $39.8

M&A

Street of Walls

SEPTEMBER 4, 2012

Announced M&A volumes of $39.8 Thus far in 3Q12, announced M&A volumes are averaging 4% below the 2Q12 weekly average level and 7% below the 3Q11 average weekly level. billion of net outflows experienced in December 2011. Corporate debt underwriting volumes of $30.8 Announced M&A volumes of $39.8

M&A

Street of Walls

SEPTEMBER 4, 2012

Announced M&A volumes of $39.8 Thus far in 3Q12, announced M&A volumes are averaging 4% below the 2Q12 weekly average level and 7% below the 3Q11 average weekly level. billion of net outflows experienced in December 2011. Corporate debt underwriting volumes of $30.8 Announced M&A volumes of $39.8

M&A

Street of Walls

SEPTEMBER 4, 2012

Announced M&A volumes of $39.8 Thus far in 3Q12, announced M&A volumes are averaging 4% below the 2Q12 weekly average level and 7% below the 3Q11 average weekly level. billion of net outflows experienced in December 2011. Corporate debt underwriting volumes of $30.8 Announced M&A volumes of $39.8

M&A

Street of Walls

SEPTEMBER 4, 2012

Announced M&A volumes of $39.8 Thus far in 3Q12, announced M&A volumes are averaging 4% below the 2Q12 weekly average level and 7% below the 3Q11 average weekly level. billion of net outflows experienced in December 2011. Corporate debt underwriting volumes of $30.8 Announced M&A volumes of $39.8

M&A

Street of Walls

SEPTEMBER 4, 2012

Announced M&A volumes of $39.8 Thus far in 3Q12, announced M&A volumes are averaging 4% below the 2Q12 weekly average level and 7% below the 3Q11 average weekly level. billion of net outflows experienced in December 2011. Corporate debt underwriting volumes of $30.8 Announced M&A volumes of $39.8

M&A

Street of Walls

SEPTEMBER 4, 2012

Announced M&A volumes of $39.8 Thus far in 3Q12, announced M&A volumes are averaging 4% below the 2Q12 weekly average level and 7% below the 3Q11 average weekly level. billion of net outflows experienced in December 2011. Corporate debt underwriting volumes of $30.8 Announced M&A volumes of $39.8

M&A

Street of Walls

SEPTEMBER 4, 2012

Announced M&A volumes of $39.8 Thus far in 3Q12, announced M&A volumes are averaging 4% below the 2Q12 weekly average level and 7% below the 3Q11 average weekly level. billion of net outflows experienced in December 2011. Corporate debt underwriting volumes of $30.8 Announced M&A volumes of $39.8

M&A

Street of Walls

SEPTEMBER 4, 2012

Announced M&A volumes of $39.8 Thus far in 3Q12, announced M&A volumes are averaging 4% below the 2Q12 weekly average level and 7% below the 3Q11 average weekly level. billion of net outflows experienced in December 2011. Corporate debt underwriting volumes of $30.8 Announced M&A volumes of $39.8

M&A

Street of Walls

SEPTEMBER 10, 2012

Announced M&A volumes of $16.6 Thus far in 3Q12, announced M&A volumes are averaging 9% below the 2Q12 weekly average level and 12% below the 3Q11 average weekly level. Sandler O’Neill’s Weekly M&A Trends: The S&P 500 had its best week since early June The S&P 500 rose by 2.2% in the week. Average daily U.S.

Mergers and Acquisitions

Street of Walls

SEPTEMBER 10, 2012

Announced M&A volumes of $16.6 Thus far in 3Q12, announced M&A volumes are averaging 9% below the 2Q12 weekly average level and 12% below the 3Q11 average weekly level. Sandler O’Neill’s Weekly M&A Trends: The S&P 500 had its best week since early June The S&P 500 rose by 2.2% in the week. Average daily U.S.

Mergers and Acquisitions

Street of Walls

SEPTEMBER 10, 2012

Announced M&A volumes of $16.6 Thus far in 3Q12, announced M&A volumes are averaging 9% below the 2Q12 weekly average level and 12% below the 3Q11 average weekly level. Sandler O’Neill’s Weekly M&A Trends: The S&P 500 had its best week since early June The S&P 500 rose by 2.2% in the week. Average daily U.S.

Mergers and Acquisitions

Street of Walls

SEPTEMBER 10, 2012

Announced M&A volumes of $16.6 Thus far in 3Q12, announced M&A volumes are averaging 9% below the 2Q12 weekly average level and 12% below the 3Q11 average weekly level. Sandler O’Neill’s Weekly M&A Trends: The S&P 500 had its best week since early June The S&P 500 rose by 2.2% in the week. Average daily U.S.

Mergers and Acquisitions

Street of Walls

SEPTEMBER 10, 2012

Announced M&A volumes of $16.6 Thus far in 3Q12, announced M&A volumes are averaging 9% below the 2Q12 weekly average level and 12% below the 3Q11 average weekly level. Sandler O’Neill’s Weekly M&A Trends: The S&P 500 had its best week since early June The S&P 500 rose by 2.2% in the week. Average daily U.S.

Mergers and Acquisitions

Street of Walls

SEPTEMBER 10, 2012

Announced M&A volumes of $16.6 Thus far in 3Q12, announced M&A volumes are averaging 9% below the 2Q12 weekly average level and 12% below the 3Q11 average weekly level. Sandler O’Neill’s Weekly M&A Trends: The S&P 500 had its best week since early June The S&P 500 rose by 2.2% in the week. Average daily U.S.

Mergers and Acquisitions

Street of Walls

SEPTEMBER 10, 2012

Announced M&A volumes of $16.6 Thus far in 3Q12, announced M&A volumes are averaging 9% below the 2Q12 weekly average level and 12% below the 3Q11 average weekly level. Sandler O’Neill’s Weekly M&A Trends: The S&P 500 had its best week since early June The S&P 500 rose by 2.2% in the week. Average daily U.S.

Mergers and Acquisitions

Street of Walls

SEPTEMBER 10, 2012

Announced M&A volumes of $16.6 Thus far in 3Q12, announced M&A volumes are averaging 9% below the 2Q12 weekly average level and 12% below the 3Q11 average weekly level. Sandler O’Neill’s Weekly M&A Trends: The S&P 500 had its best week since early June The S&P 500 rose by 2.2% in the week. Average daily U.S.

Mergers and Acquisitions

Street of Walls

SEPTEMBER 10, 2012

Announced M&A volumes of $16.6 Thus far in 3Q12, announced M&A volumes are averaging 9% below the 2Q12 weekly average level and 12% below the 3Q11 average weekly level. Sandler O’Neill’s Weekly M&A Trends: The S&P 500 had its best week since early June The S&P 500 rose by 2.2% in the week. Average daily U.S.

Mergers and Acquisitions

Street of Walls

SEPTEMBER 10, 2012

Announced M&A volumes of $16.6 Thus far in 3Q12, announced M&A volumes are averaging 9% below the 2Q12 weekly average level and 12% below the 3Q11 average weekly level. Sandler O’Neill’s Weekly M&A Trends: The S&P 500 had its best week since early June The S&P 500 rose by 2.2% in the week. Average daily U.S.

Mergers and Acquisitions

Street of Walls

SEPTEMBER 10, 2012

Announced M&A volumes of $16.6 Thus far in 3Q12, announced M&A volumes are averaging 9% below the 2Q12 weekly average level and 12% below the 3Q11 average weekly level. Sandler O’Neill’s Weekly M&A Trends: The S&P 500 had its best week since early June The S&P 500 rose by 2.2% in the week. Average daily U.S.

Mergers and Acquisitions

Street of Walls

SEPTEMBER 10, 2012

Announced M&A volumes of $16.6 Thus far in 3Q12, announced M&A volumes are averaging 9% below the 2Q12 weekly average level and 12% below the 3Q11 average weekly level. Sandler O’Neill’s Weekly M&A Trends: The S&P 500 had its best week since early June The S&P 500 rose by 2.2% in the week. Average daily U.S.

Mergers and Acquisitions

Street of Walls

SEPTEMBER 10, 2012

Announced M&A volumes of $16.6 Thus far in 3Q12, announced M&A volumes are averaging 9% below the 2Q12 weekly average level and 12% below the 3Q11 average weekly level. Sandler O’Neill’s Weekly M&A Trends: The S&P 500 had its best week since early June The S&P 500 rose by 2.2% in the week. Average daily U.S.

Mergers and Acquisitions