October 2, 2008

New York City Names Mooring Tax Asset Group Servicer for City’s 2008 Tax Lien Trust

Vienna, VA – October 2, 2008 - Mooring Tax Asset Group has been selected by the City of New York to service $20 million in delinquent property tax liens for the New York City Tax Lien (NYCTL) 2008-A Trust. As co-servicer for the transaction, Mooring Tax Asset Group will service liens on properties located across all five boroughs of New York City.

“We are very excited and honored to be chosen by New York City for this critical role,” said James Meeks, President and co-founder of Mooring Tax Asset Group. “I am confident that our team’s expertise and commitment to excellence will add value to this program.”

New York City is a leader in the active management of its delinquent tax lien portfolio, having conducted tax lien sales since 1996. The City sells its delinquent liens to a trust and the servicer is responsible for collecting the delinquent taxes. This initiative allows the properties to return to the City’s active tax rolls and has helped New York City avoid imposing higher tax increases on residents who pay their taxes on a timely basis.

Mooring Tax Asset Group, an affiliate of Mooring Financial Corporation, is one of the largest tax lien investors and servicers in the U.S. The Group has acquired, managed and serviced more than $1 billion of tax liens since inception in 1997.

About Mooring Financial Corporation
Mooring Financial Corporation is a private investment firm that specializes in the management of alternative assets for high net worth individuals and institutional investors. The firm has acquired and managed more than $2 billion of financial assets since inception in 1982. Mooring Financial Corporation manages four funds across different asset classes, including distressed commercial loans, real estate tax liens, publicly traded equities and credit derivatives. The firm also directs Mooring Tax Asset Group, one of the largest tax lien investors and servicers in the United States. Mooring Financial Corporation is headquartered in Tysons Corner, Virginia. For more information please visit www.mooringfinancial.com.