Loan Pricing Corporation

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NYU Stern School of Business to Use LSTA/LPC Mark-to-Market Prices to Study the Secondary
Loan Market

NEW YORK, August 14, 2002- The Loan Syndications Trading Association (the LSTA) and Loan Pricing Corporation (LPC), a Reuters subsidiary, today announced that they have entered into an agreement to provide the NYU Salomon Center at the Leonard N. Stern School of Business at New York University (NYU Stern) with daily composite market prices. NYU plans to use the secondary loan market trading prices in its academic studies of the financial markets, both par and distressed.

The LSTA/LPC Mark-to-Market Pricing service is the leading source for objective pricing in the market today. The service provides superior, objective pricing to more than 100 institutions, managing almost 175 portfolios with over $200 billion in bank loan assets. With information provided daily from top dealers and traders from over 25 institutions, NYU's Stern School of Business will receive comprehensive secondary loan market prices enabling them to study the market in a timely fashion.

"We believe that this data is a valuable addition to our research efforts both because of the depth of history as well as the breadth of the market covered," said Edward Altman, Max L. Heine Professor of Finance of New York University and Vice Director of the Center.

"The LSTA is delighted to work with the Salomon Center at New York University's Stern School of Business. Research on the loan asset class benefits both academics and the asset class," said Allison Taylor, Executive Director of the LSTA.

Michele Kelsey, Senior Vice President of LPC said "NYU's study of secondary trading prices will help to further promote the transparency and liquidity of bank loans as an asset class. LPC is pleased to help fuel this effort."

About The Loan Syndications and Trading Association:
Founded in 1995, The Loan Syndications and Trading Association (the LSTA) is a not-for-profit trade association committed to the orderly development of a fair, efficient and professional trading market for commercial loans. The LSTA was formed in response to exponential growth in loan trading volume in the secondary debt market. The LSTA's mission has grown to include the full scope of issues relating to syndicated lending and loan trading. Leaders from throughout the industry comprise the bulk of LSTA's membership. Through the Association and its activities, the membership takes an active role in identifying and addressing key industry issues that ultimately lead to establishing standard market practices and procedures. For more information, visit www.lsta.org.

About Loan Pricing Corporation
Loan Pricing Corporation (LPC), a Reuters Company, has provided financial institutions around the world with the most complete and accurate information on bank loans since 1985. LPC's reach on loan market news and information spans across the United States, Europe, Eastern Europe, Middle East, Africa, Latin America and, through its subsidiary Basis Point Publishing Ltd, the Asia-Pacific with market news delivered via publications, on-line news services, and databases. LPC has earned its position as the authoritative source of loan market information and analysis by its constant attention to the loan industry and development of state-of-the-art products and services for bankers, borrowers and loan investors.

About the Salomon Center at NYU Stern School of Business:
The purpose of the New York University Salomon Center is to focus high quality research attention on the global financial services industry and its principal institutions. In this connection, the Center underwrites applied academic research, conducts conferences for scholars and practitioners, engages in specialized executive education, and undertakes a variety of publications intended to contribute to our understanding of this critical sector of the domestic and international economy. The Center was founded in 1972 by a grant from the partners of Salomon Brothers, and funds its activities through endowment income, annual contributions by corporate and institutional Associates, and income from publications, conferences, and executive programs. For more information, visit our web site at http://www.stern.nyu.edu/salomon

For more information contact:

Loan Pricing Corporation
Kevin Elphick
Tel: 212-833-9262
Email: kelphick@loanpricing.com

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