Contact:
Judith Brower/Kelly Stephens
Brower, Miller & Cole
(949) 509-6551
jbrower@browermillercole.com

LOS ANGELES (October 2, 2008)— Commercial real estate investment banking firm, George Smith Partners, Inc. has formed the Lender Services Group to effectively market and sell lenders’ assets in an accelerated format, while focusing on the highest recovery for the lending institution.

The Lender Services Group utilizes strategically appropriate disposition efforts, according to George Smith Partners. In specific circumstances where lenders require timely access to capital, the new group will have the capability to evaluate assets tapped for disposition and to either choose from a select list of potential bidders to help facilitate discreet, quick sale of one or more assets or to utilize a broad-based bid program.

“In recent months, GSP has been inundated with requests from investors and institutions seeking note acquisition and REO investment opportunities,” explained Craig Hamilton, Senior Vice President of George Smith Partners. “Due to our extensive relationship with a large pool of qualified investors and lending institutions, our newly formed Lender Services Group will be able to assist by linking lenders who currently have an increase of substantial sized assets on banks’ balance sheets that need to be liquidated with qualified buyers to facilitate quick sales of the lender’s assets.”

“All of the multiple disciplinary skills we have honed as a firm over the cycles in the past 40 years will come into play in GSP Lender Services,” added David Rifkind, Principal/Managing Director of George Smith Partners. “This best-in-class service will be a tremendous asset to our large base of lenders and investors at this critical time in the credit and real estate cycle.”

The Lender Services Group is headed by Craig Hamilton and George Smith Partners Principals Scott Bottles, David Rifkind, Gary E. Mozer, Steve Bram and Gary M. Tenzer, as well as Senior Vice President Andrew Levant, all with tremendous industry experience and deeply rooted relationships with key financial participants including banks, private equity funds and individual investors. Hamilton has a wide experience in complex land and construction projects coupled with a unique ability to rapidly facilitate the process of evaluation, presentation and then negotiation of assets put up for sale. Bottles’ experience includes 22 years at Wells Fargo and understands the needs of banks and borrowers. Rifkind is widely recognized among the nation’s foremost experts in real estate debt restructuring. Mozer, Bram and Tenzer are recognized among the nation’s leading real estate financiers, each with two decades of experience in all aspects of commercial real estate finance and an in-depth knowledge of virtually all product types.

The Lender Services Group is one of several recent initiatives by GSP to respond to the rapidly changing capital markets environment. GSP continues to lead the industry with best in class commercial mortgage and investment services.

Founded in 1992, George Smith Partners specializes in arranging financing for commercial and residential properties, including acquisition, construction, bridge and permanent loans as well as mezzanine loans, highly leveraged participating loans and joint venture equity. In 2006, the firm enjoyed a record year, completing 262 transactions totaling more than $4.1 billion. Information about George Smith Partners is located on the company Web site, www.gspartners.com.