Capital Asset Research Corporation, Ltd. ("Capital Asset"), in addition to being the one of the largest national servicer of real estate property tax liens, represents a dynamic and uniquely integrated presence in the tax lien industry. Starting in 1993 as a proprietary purchaser and servicer of tax liens, Capital Asset draws upon it own tax lien acquisition and servicing expertise to administer a national portfolio of tax liens.

Capital Asset, a Florida limited partnership is wholly owned by Capital Asset Holding, Ltd., a Florida limited partnership, and Capital Asset Holdings G.P., a Florida corporation (collectively "CAH"). MBIA MuniServices Company, a wholly owned subsidiary of MBIA, Inc. owns 86% of CAH while Koch Investments owns the remaining 14%. MBIA, Inc., through its subsidiaries, is the world' preeminent financial guarantor and a leading provider of specialized financial services.

Capital Asset is strengthened by the management resources and support services provided by the Clayton Companies ("Clayton"), a premier provider <P class="feature">&nbsp;</P>of due diligence, mortgage default/REO management, and management advisory services. Clayton has been retained to provide management oversight and outsource assistance to enhance Capital Asset's operating capabilities. As a result, Capital Asset is a vertically integrated institution built to address the many existing and emerging challenges associated with the servicing and administration of tax lien portfolios.

As an essential component of our servicing capacity, Capital Asset maintains its centralized systems support at its main office in Palm Beach Gardens, Florida dedicated to servicing tax liens. As the nations's largest tax lien servicer, Capital Asset has developed the necessary balance of expertise and systems to handle the many facets of servicing, regardless of location. Our corporate philosophy is "high tech, high touch". We marry superior technology in the form of AIM, our proprietary tax lien administration system, with high touch in our philosophy of servicing the liens. Portfolio managers run each geographic region in concert with the specialized needs of the portfolio dynamics. The portfolio managers are fully supported by an active collections department, a foreclosure department, bankruptcy management, and diverse REO management.