Keynote Sessions Wednesday, April 21 ­— 9:30 a.m. – 10:30 a.m. Ron Insana, CNBC Senior Analyst

Ron Insana is a CNBC senior than two decades, Insana was a familiar face on analyst and commentator, business television, spending 22 years as a veteran offering his perspectives on anchor at CNBC and its forerunner, the Financial the world’s most important News Network. Insana joined CNBC in 1991 as a business and economic stories. regular contributor to various television and radio Previously, Insana was a programs produced by CNBC and its affiliates. managing director at SAC Prior to that, Insana worked as managing editor Capital Advisers, an $11 billion and senior anchor for the Financial News Network, hedge fund, run by Steven A. where he began his career in 1984. Insana is author Cohen. Prior to joining SAC, of four books about Wall Street and the financial Insana was the president and CEO of Insana Capital markets and is host of the radio show, Market Score Partners, where he managed the $120 million Board Report. Insana Capital Partners Legends Fund. For more

Wednesday, April 21 — 1:30 p.m. – 3:00 p.m. "Views from the Bench " Moderator: John Wm. Butler Jr., Skadden, Arps, Slate, Meagher & Flom LLP Panel: Hon. Kevin J. Carey, District of Delaware; Hon. Robert D. Drain, Southern District of New York Hon. Rosemary Gambardella, District of New Jersey Hon. Elizabeth Stong, Eastern District of New York

Wednesday, April 21 ­— 7:30 p.m. – 9:45 p.m. (time reflects entire dinner session) David Gergen, CNN Senior Political Analyst

Commentator, editor, teacher, public servant, and domestic affairs, then as special international best-selling author and advisor to presidents for 30 advisor to the president and to Secretary of State Educational Program years, David Gergen has been an active participant Warren Christopher. Gergen currently serves as in American national life. editor-at-large at U.S. News & World Report and He served as director of as a regular television commentator on CNN. He communications for President previously served as moderator of World @ Large, Reagan and held positions a 13-part PBS discussion series, and provided in the administrations of political commentary with Mark Shields on the Presidents Nixon and Ford. In MacNeil/Lehrer NewsHour. Gergen is a professor 1993, he put his country before of public service at the John F. Kennedy School of politics when he agreed to first Government and is co-director of its Center for serve as counselor to President Public Leadership. Clinton on both foreign policy

TMA Spring Conference 2010 [email protected] • 312-578-6900 Educational Program “Capital MarketUpdate—Trends inMiddleMarket” “How DidtheFinancialCrisisof2008Arise:Whois “ [email protected] •312-578-6900 TMA Spring Conference 2010 Advisors LLC; Peter Seckel, Wells R. Fargo Capital M.Strauss, Finance; Robert Insight Equity •  •  Attendees able be to: will center area, hospitality and multi-family the areas. stress and distress office inthe building, shopping discussion of negative the factors that are causing estate market at present the be a time. Therewill issues that are impacting commercial the real 75-minuteThis sessionthe majoron focus will Concurrent Sessions General Session Session B Session A diverse backgrounds. Attendees able be to: will panelThe address evolutionwill this theirbased on a turnaround are evolving still afterthe upheaval. dislocation, capital alternatives for companies in of recuperation after a tumultuous of period Although capital markets are showing signs •  others. Attendees able be to: will Brothers, and disposition the of AIG, WaMu and 2008 financial crisis theand liquidation Lehmanof panelThis explore will who is responsible forthe Wednesday, April21—3:00 Wednesday, April21—11:00 Panel: Moderator: Moderator: Biff Ruttenberg, CTP, Atlas Partners LLC Moderator: John J. Credit Brignola, LBC Partners Inc. Panel: Panel: M.Horak, Robert Lincoln International LLC; Richard W. Moskwa, Consulting BDO Corporate Responsible?” Spencer Levy, CBRichard Group Ellis Inc.; Anup Sathy, Kirkland LLP &Ellis from Them” Tribulations in Commercial RealEstateandHowtoProfit especially, on office the building business employment,and legal ofservices financial impact the Determine of contraction the ofhealth shopping the center business impactAnalyze the of consumer behavior on the crisis Understand factors the leading to financial the Andrew B. Graiser, DJM Realty, A Gordon Brothers Group Company; David Iannarone, CW Capital; Sara A.Kelsey, WilmerHale; Alvarez Lambert, Douglas &Marsal Harvey R. Miller, Harvey R. Weil Gotshal &Manges, LLP p . a m . . m –4:15 . –12:15 p . m p . . m •  •  •  complexities the • Discuss ofinsolvency global •  •  on the most recently available information. available recently most on the based provided, be will bankruptcy Growth General on the update an Finally, or bonds. loans in interested be who might attendees to assist provided be will Guidance of bonds. tranches CMBS various and loans whole to acquire opportunities regarding provided be will Information debt. estate real for distressed market the of state current the cover also will discussion The •  •  bankruptcy lawsbankruptcy Analyze interface the of regulations and applied Identify how regulation federal the were rules in the hotelin the and restaurant business Understand factors that have exacerbated difficulties capital raise processes Identify potential execution risks associated with companies invarious stages of aturnaround Differentiatecapitalbetween alternatives for market companies Understand state the of capital market for middle difficulties in the in difficulties multi-family business factors the Discuss that have exacerbated the .

Educational Program “ " [email protected] •312-578-6900 TMA Spring Conference 2010 Attendees how learn will to: negotiate strategies This sessionThis onenhancingfocuses participants' understanding of equityan (ratherthan credit) market This session This on focus will recent developments and Concurrent Sessions (conference$125/person registration is required to attend session) this Session A Wednesday, April21—4:45 Kubick, Morgan Tom Stanley; Miele, General Advanced EducationalSession Recent developments have once again issue the raised BuckfireCo., & LLC Moderator: David S.Heller, Latham &Watkins LLP Wednesday, April21—7:30 Electric Capital Corp.;Electric Lloyd Sprung, Miller Isobel Director, van Daesdonk, Equity Capital Securities Markets,Bank Deutsche Finally, what current the describe session the will conditions equity inthe market suggest for the How can abetter understanding of trends the and implications of recent the turbulence global inthe workouts); issues determine presented special by Panel: Holly Felder Etlin, CTP, AlixPartners; Ron differentthan mid-market or smaller restructurings. enterprises and complex and multi-faceted capital of “large whether and complex” restructurings are any control”) and other dynamics unique issues presented by sizeand can scope present for multi-faceted with intercreditor models; deal structures. You restructuring hear experienced will special issues andspecial opportunities for creative solutions. capital markets enhance ability the of turnaround managers to successfully rehabilitate businesses in have incommon restructurings with and all how the professionals what discuss large these restructurings considerations special the presented by uniquely-sized issues arising out of larger restructurings and examine the naturethe of debt holders (CLOs vs.“distressed for presented by multi-jurisdictional (cross cases border issues such as “cross holders;” issues analyze special understanding of how to utilize equity inachieving significant operational improvements indistressed economic outlook future. inthe perspective forperspective managing turnarounds. Moreover, turnaround managers canfrom benefit better a today's economy? businesses, how to access equity and how to assist clients indetermining fair value for equity. their The CurrentStateoftheEquityMarkets:Trends and Implications forTurnaround Management" Recent Market Developments and IssuesinLarge,Complex Restructurings” p a . . m m . . –9:00 –6:00 p a . . m m . . “ •  •  •  This panel will discuss the currentthe panel This discuss will landscape Session B Kronish LLP; Michael Henkin, JefferiesCompany & Inc.; Peter M.Schwab, Piper JaffrayCo. & Moderator: Jeff J. ProskauerMarwil, LLP Rose Panel: Lawrence C.Gottlieb, Godward Cooley for distressed companies, owners their and their how to: lenders, on andfocus strategies will employed by borrowers, equity and lenders. Attendees learn will Out-of-Court Restructuring: Is itStillPossible?” Negotiate balancesheet restructurings, including Determine the appropriate the Determine "exit" from Chapter 11, Plan for aChapterthe 11filing if/when out of court negotiations fail or stalemate. including confirming a stand-alone or sponsored enterprise value of borrower. the on balancesheet the far reasonable exceeds the plan of reorganization or conducting 363 aSection issuesthe that amount the when arise of debt sale process.sale Educational Program “ “ [email protected] •312-578-6900 TMA Spring Conference 2010 •  •  •  •  • Discuss the impact the • Discuss of healthcare the reform bill trends• Examine industry and implications • Address solutions inside and outside of bankruptcy The recent (and ongoing)economic crisis global has had repercussions, not only on insolvencies of strictly Thursday, April22—11:00 Thursday, April22—9:00 General Sessions Ontario Superior of Justice; Court Kirkland Seligman, LLP David &Ellis R. Reimbursement and regulatory challenges, access to capital, market changes and general economic Healthcare Partners LLC; Andrew Turnbull, Houlihan Lokey Moderator: Moderator: John J. Rapisardi, Wickersham Cadwaladar &Taft LLP deterioration have caused financial distress among healthcare providers. current the This discuss panelwill Panel: Jay LLP; Carfagnini,Goodmans Daniel A.Celentano, Evercore Partners; Justice Geoffrey Morawetz, Panel: Suzanne Koenig, SAKManagement LLC; David Carl Marks A.Rock, Services members of bench, share bankruptcy the insight their and on and perspectives legal the financial issues and foreign enterprises but increasingly on multinational enterprises with operations and U.S. the assetsinboth and abroad. In panel, U.S. this experienced and Canadian cross-border insolvency practitioners, including trends developing of intensified period inthis activity. Attendees learn howwill to: state of healthcare providers. Attendees how learn will to: Trends” Canadian Perspectives” The Healthcare Industry: FinancialDistress,Solution, The HealthcareIndustry: Trends inCross-BorderInsolvencyfromtheU.S.and Observe the novel the approachesObserve incross-border taken being situations/cases Employ practicesinmanaging best cross-border insolvency cases Identify issues to watch out for (as debtor and as creditor) inadeveloping cross-border insolvency Apply the lessons learned in the firstseveral years of application ofChapter 15 ofthe Code BankruptcyU.S. situation Martin G.Bunin, Alston +Bird LLP a . a m . m . –10:30 . –12:30 a . p m . m .

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