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| WestLB Closes Loan Facility for Peachtree Settlement Funding New York, NY, November 21, 2005 - WestLB's Asset Securitization team, part of the Capital Markets North America unit, announced today that it successfully structured and arranged a USD 100 million financing for Peachtree Settlement Funding (Peachtree). The financing will provide Peachtree with an alternative source of funding for the purchase of lottery prize receivables (the purchase of periodic lottery cash flows). "WestLB, as a leader in the financing of esoteric asset classes, views Peachtree as one of the leading financing sources in the country for lottery receivables and is thrilled to partner with a market leader in this industry. By providing Peachtree with a securitization facility which offers highly competitive financing terms, the company will be able to continue to grow its lottery business line," said James McPartlan, managing director and head of WestLB's North America Structured and Corporate Finance group in New York. "Peachtree has the level of insight and integrity that exemplifies exceptional value in a partner." "We are extremely pleased to be working with WestLB," said Peachtree's CEO, Jim Terlizzi. "Thanks to WestLB's innovative ideas and dynamic asset securitization team, we were able to find a solution to our needs. We hope to expand our relationship with WestLB over the coming months and years." About Peachtree Settlement Funding Founded in 1996, Peachtree is one of the nation's leading specialty factoring companies. It caters to people seeking to sell structured legal settlements, annuity payments, lottery prize payments and life insurance policies. In addition, Peachtree provides cash advances to people with pending personal injury claims. Peachtree is based in Boca Raton, Florida, and Norcross, Georgia. For further information you may contact our Public Relations Manager, Greg Meyer, at 866.274.6534 or at Gmeyer@lumpsum.com. Our website address is www.peachtreesettlementfunding.com. About WestLB's Structured & Corporate Finance WestLB develops sophisticated structured solutions, supported by a focused capital markets platform. WestLB has a long-standing presence in the corporate, structured and asset-backed financing sectors supporting clients' needs with capital commitments, advisory services and innovative financing solutions. The bank's global relationships, coupled with its unique understanding of local economies, industries and cultures, help WestLB bankers consistently deliver high quality advice and service. About WestLB WestLB AG is one of Germany's leading financial services providers with offices in the world's largest financial centers. The firm provides financial advisory, lending, structured finance, project finance, capital markets and private equity products, asset management, transaction services and real estate finance to institutions. WestLB has total assets of more than €262.4 billion, as of September 30, 2005. For more information, please visit www.westlb.com In the United States, certain securities, trading, brokerage and advisory services are provided by WestLB's wholly owned subsidiary WestLB Securities Inc., a registered broker-dealer and member of the NASD and SIPC. Contact: WestLB AG Group Communications - Americas Ashweeta Durani - Ph: 212-852-6310 ashweeta_durani@westlb.com or Steve Schwartz - Ph: 212-590-0534 steve@walek.com |
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