November 28th & 29th, 2006The Burlington Hotel, Dublin

CONFERENCE

PROGRAMME

The Finance DublinSecuritisation Conference 2006

Investing and issuing in the currentmarket conditions for structured finance

Two new Securitisation Seminars led byDr Moorad Choudhry, leading author on structured credit

Securitisation 100: Introduction to SecuritisationSecuritisation 200: Advanced Securitisation

see session details on the conference website www.financedublin.com/conference

Plus!

Gold Sponsor:

Highlights:� Critical insights from over 50 global thought leaders

and leading analysts� Two day event packed with keynote addresses and

panel discussions� Extensive networking and information-sharing

opportunities� NEW this year: Electronic Voting at the conference

will ascertain delegate views and forecasts oninvestment questions

introduction

R e g i s t e r o n l i n e t o d a y a t :

www.financedublin.com/conference

The growth of structured finance has continued to exceed the most bullish of expectations,with issuance levels rising, and the pace of innovation driving the most rapid growing seg-ments of the capital markets, credit default swaps being an example. However, tighteningspreads have increased the challenge to derive value and this is having repercussions in all sec-tors of the market.The Fifth Finance Dublin International Securitisation conference will be the most comprehensive yet.The two day event will focus on market conditions, as evidenced in the content of several ofthe keynote addresses at the conference on November 28th and 29th 2006.These themes will be carried on in ten panel discussions, including a focus on cutting edgedevelopments in the biggest and fastest growing product markets, such as RMBS/CMBS andsynthetic CDOs.Ireland’s position as a leading structuring and listing centre for innovative vehicles is reflect-ed in several of the panels, which will discuss the relative merits of various jurisdictions for dif-fering objectives. This is reflected in the planned discussions on innovations in structuring,and in the reinsurance panel. Investor topics are also to the fore, seen in the focus of several ofthe panel discussions.The 2006 conference will have the biggest international line up of speakers and delegates yetassembled at the Dublin conference, of which the distinguished list of speakers speaks for itself.

Two new entry level seminars on securitisationOn 28th November 2006 there will be two separately bookable seminars offered in addition tothe conference programme entitled ‘Securitisation 100 - Introduction to Securitisation’ and‘Securitisation 200 - Advanced Securitisation’. The seminars are aimed at new staff entering the sec-tor and individuals wishing to supplement their overall grasp of the subject area. They willprovide companies active in the international securitisation market with a comprehensivetraining and educational opportunity for their employees.The events are part of the ‘Finance 100’ series of seminars, which are a unique training andeducational experience for staff. In the past year, over 200 delegates have attended ‘Finance100’ seminars on securitisation, credit derivatives, and hedge fund administration.

‘Securitisation 100 and 200’ are being chaired by Dr. Moorad Choudhry, head oftreasury at KBC Financial Products in London and author of numerous booksincluding The Bond and Money Markets (Butterworth Heinemann 2001),Structured Credit Products: Credit Derivatives and Synthetic Securitisation (John Wiley2004) and The Money Markets Handbook (John Wiley 2005). Moorad Choudhrywill sign copies of his newly published book (October 2006). ‘The Credit Default

Swap Basis’ published by Bloomberg Books.

Investing and issuing in the current market conditions for structured finance

08:30 REGISTRATION

09:00 CHAIRMAN’S OPENING REMARKSMoorad Choudhry, Visiting Professor, Departmentof Economics, London Metropolitan University,and Visiting Research Fellow, ISMA Centre,University of Reading

09:15 BASIC CONCEPTS IN SECURITISATION� Motivations behind securitisation

- Originators objectives: funding, balance sheetmanagement, risk management

- Comparing different structures and solutions:term deals, money market CDOs, conduits andcovered bonds

- Investors objectives: risk/return profile,diversification, accessibility

� Main structures: ABS/MBS/Covered bond /CDO/Repacks/whole business

� Economic impact of securitisation

� Basel I and II rules influence and impact

� Role and location of SPVs

Moorad Choudhry, Visiting Professor, Departmentof Economics, London Metropolitan University,and Visiting Research Fellow, ISMA Centre,University of Reading

10:15 SECURITISATION AND ISSUER BALANCE-SHEET MANAGEMENT� Use of securitisation as part of a funding strategy

� The tools and techniques involved whenemploying ABS, MBS, ABCP

� Assessing impact of securitisation as a riskmanagement and balance-sheet management tool

Nick Bourne, Head of Securitisation, GMAC RFC

11:45 SECURITISATION AND INVESTOR VALUE� Finding relative value in the [asset] market

� Differing risk-reward profiles and investmentopportunities across asset classes

� Increasing return without increasing the riskprofile

� Accessibility to new asset classes: investmentdiversification

� Assessing different structures and dealperformance- The value of the portfolio manager- Value compared across cash and synthetic deals

� Latest structural innovations in the [asset] market

� Opportunities in the secondary market, andsecondary market liquidity

� Acting as investor comfort: the role of third-parties to the deal including Trustee, monolineinsurer, and sub-administrator, investor reporting

Peng Sun, CFA, Manager, ABS Strategist, GlobalFixed Income Strategy, HSBC Bank plc

DAY ONE - TUESDAY MORNING, 28TH NOVEMBER 2006 SECURITISATION 100: INTRODUCTION TO SECURITISATION

14:00 CHAIRMAN’S OPENING REMARKSMoorad Choudhry, Visiting Professor, Departmentof Economics, London Metropolitan University,and Visiting Research Fellow, ISMA Centre,University of Reading

14:15 SECURITISATION AND FUNDINGAPPLICATIONS FOR THE TREASURY DESK� Conduits, asset-backed conduits

� Synthetic funding structures

Moorad Choudhry, Visiting Professor, Departmentof Economics, London Metropolitan University,and Visiting Research Fellow, ISMA Centre,University of Reading

15.00 CREDIT DERIVATIVES AND STRUCTUREDCREDIT PRODUCTS� Basic concepts of synthetic CDOs

� Basket and correlation products

� Key trading strategies

� Recent innovation in structured credit

Michael Sandigursky, Vice President, QuantitativeCredit Strategy, Citigroup

16:30 ABS CASHFLOW MODELLING� Cash flow analysis: asset level, tranche level

� Difference in approach between ABS modelling andCDO modelling: ABS cashflow mechanics versus

� CDO model diversity and spread testing

Galen Moloney, Director, European StructuredFinance, FitchRatings

17:15 THE ADMINISTRATION OF SPVS:AN INTERNATIONAL PERSPECTIVE� Characteristics of SPVs� Why are SPVs used?� Factors in selecting the SPV’s jurisdiction� Guiding principles for SPV administration� The transaction’s lifecycle� Current and future trends

Stephen O’Donnell, Senior Vice President,Maples Finance

DAY ONE - TUESDAY AFTERNOON, 28TH NOVEMBER 2006 SECURITISATION 200: ADVANCED SECURITISATION

18:00 COCKTAIL RECEPTION ANDSEMINAR ENDSponsored by Irish Stock Exchange

11:15 REFRESHMENTS BREAKSponsored by AIB IFS

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16:00 REFRESHMENTS BREAKSponsored by AIB IFS

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12:45 LUNCHSponsored by BDO Simpson Xavier

12:45 REGISTRATION,FOLLOWED BY LUNCHSponsored by BDO Simpson Xavier

introduction

seminar programmesseminar programmes

08:30 REGISTRATION

08:50 CHAIRMAN’S OPENINGREMARKSVincent Reilly, Partner, FinancialServices Audit, KPMG

09:00 KEYNOTE ADDRESS 4:CREDIT MARKET TRENDSAND OUTLOOK - WAITING FORA TURN�Credit markets at Crossroads:

To cycle or not to cycle?

�Credit quality: Deterioration ormean reversion

�Credit fundamentals vs marketimbalances

�Traditional triggers for turningpoints and their relevance today

�Basel II: Is it priced in now?

�Hybrid financial instrumentscoming of age

�Credit markets and hedge funds:Liaison dangereuse?

Georg Grodzki, Global Head ofInvestment Grade Credit Research, RBCCapital Markets

09:20 PANEL IV: STRUCTUREDFINANCE INVESTMENT ISSUES�Structured finance in fixed income

context

�The high yield rationale; global highyield

�What investors liked in 2006

� Investing in CDO equity

�The markets with the best arbitrage;cash flow or market value?

�CDOs - managed versus static eals

�Performance measures andbenchmarks

�Collateral managers perspectives

Moderator: Markus Herrmann, Head ofGlobal ABS Strategy, HSBC Bank plc;Iain Barbour, Managing Director, MBIAUK Insurance Limited; Alex Cataldo,Vice President, Senior Credit Officer,Moody’s Investor Services Ltd.; WilliamDavies, VP International StructuredProduct Research, Merrill Lynch

10:10 KEYNOTE ADDRESS 5: TRENDSIN RELATIVE VALUE/YIELDENHANCEMENT�European ABS indices – not yet the

success story seen in the US: whenwill investors start to use them tobenchmark or to hedge their ownportfolios?

�A perspective on ABS performancemetrics - the best and least well-performing sectors

Rob Ford, Head of European ABS trading,Barclays Capital and Co-Chair, theEuropean Securitisation Forum (ESF)Traders Working Group

10:50 PANEL V: TRADING PANEL –EVER INCREASING TRADINGEFFICIENCY ANDTRANSPARENCY�Spread compression as we head

towards Basel; impact of Basel II

�Conduits - what correlation desksare doing now

�Liquidity - what factors impact it?

�New technology and the secondarymarket

�Assessing Relative Value:purchasing in the primary versusthe secondary market

� Improving transparency andincreasing frequency in ABS/MBSpricing

�Developing the use of ABS/MBS ascollateral for repo purposes

�Whole loan trading expectationsregarding distressed debt; wholeloan trading, non performing sector

Moderator: Rob Ford, Head of EuropeanABS trading, Barclays Capital and Co-Chair, the European SecuritisationForum (ESF) Traders Working Group;Patrick Coleman, Head of Treasury andBonds, Commerzbank Europe (Ireland)Ltd; Fraser Malcolm, Managing Directorand Head of ABS Syndicate and Trading,Capital Markets, Dresdner Kleinwort;Caroline Wharton, Senior Manager,Credit & Investments, Naspa Dublin

11:40 KEYNOTE ADDRESS 6:INNOVATIONS ANDDEVELOPMENTS FOR 2006 ANDLOOKING INTO THE CRYSTALBALL FOR 2007

William Davies, VP InternationalStructured Product Research, MerrillLynch

12:00 PANEL VI: ISSUANCE TRENDS –ISSUER AND INVESTORPERSPECTIVES�Latest developments affecting

issuers: market conditions, tax andaccounting, regulation

�Market statistics

�Role of fixed income andsecuritisation in issuers’ strategies

�Management costs in CDO deals

� Impact of economic situation,inflation and interest rates on thestructure of deals

�ABCP options for issuers

Moderator: Mark Bowles, Head of FixedIncome Investment Portfolios Group,HVB Corporates & Markets; CathalGilmartin, Associate Director, Bank ofIreland Corporate Banking; ConorHurley, Partner and Head of Tax Group,Arthur Cox; David Owens, Director -Securitisation, ING

12:40 KEYNOTE ADDRESS 7: OVERVIEWOF THE IRISH SPV MARKET�Recent changes in legislation

�Types of transactions

�What does Ireland offer?

�Recommendations for growth

Turlough Galvin, Partner, MathesonOrmsby Prentice

12:30 REGISTRATION

14:00 CHAIRMAN’S OPENINGREMARKSFergal McGrath, Director - DexiaCredit Spread Portfolio, Dexia

14:10 KEYNOTE ADDRESS 1�The current default

environment: are default riskslower now than at similar stagesin earlier cycles?

�The links between spreads,interest rates and themacroeconomy

�The shape of the next credit cycleand the outlook for spreads

Jeffery Amato, Head of EuropeanCredit Strategy, Goldman SachsInternational

14:30 PANEL I: THE CDO MARKET�How investors can take

advantage of the extensiveinnovation in the CDO market

�Strategic advice for the CDOinvestor in a mature creditenvironment

�Overview of collateral managerdevelopments

�Collateral Overviews: Mortgagerelated, market value and cashflow; Non-Mortgage ABS; Loansand CLOs; Emerging MarketCDOs; Market value CDOs

�Leveraged loan CDOs: thesearch for yield

�Repackagings: Typicalstructures, synthetic structuresand innovative structures:Introduction of esoteric assets,Multi-sector, CDOs of CDOs

�ABCP�Hedge fund CDOs and private

equity securitisationsModerator: Robert Walsh,Head CDO Banker, DresdnerKleinwort; Shaun Baddeley, SeniorDirector, European StructuredFinance, FitchRatings; RobinaBarker Bennett, Managing Director,Head of European Credit Structuring& Origination, CIBC World Marketsplc; Terry McCabe, ManagingDirector, ACA Capital; Pascale Viala,Managing Director - Head of EuropeanCapital Markets, CIFG Europe

15:20 PANEL II: SYNTHETIC CDOS �Convergence of cash and

synthetic CDO markets�Synthetic balance sheet CDOs;

Synthetic arbitrage CDOs�Cash v synthetic arbitrage CDO

equity cash flow�Full capital structure: Static vs.

partially managed vs. fullymanaged; Single tranche CDOshedged through CDS on ratingsdefault scenarios and collateralconsiderations

�Arbitrage CDOs: static vs. fullyvs partially managed ; forms ofexposure: cash, hybrid orsynthetic; equity hedgingcapabilities

�Hedging the CDO portfoliocash flow

�Credit default swaps and thefuture of the CDS market

�CDS vs TRORS and TRORS vsRepos

�Synthetic and hybrid conduitstructures

�SIV and MTN structures�Synthetic portfolio insurance

and CPPI tradesModerator: Fergal McGrath,Director - Dexia Credit SpreadPortfolio, Dexia; Sunil Dattani, Headof CDO Investments, UBS GlobalAsset Management; MichaelFurtado, Director, RBC CapitalMarkets; Andrew Gates, ManagingDirector, Financial Products Group,Bank of Montreal Ireland plc;Christopher Nolan, Head ofStructured Credit Products, SachsenLB Europe PLC

16:30 KEYNOTE ADDRESS 2:RESIDENTIAL ANDCOMMERCIAL PROPERTY:THE HOTSPOTSBirgit Specht, Managing Director,Head of Securitised ProductsStrategy, Europe, Citigroup GlobalMarkets Ltd.

16.50 KEYNOTE ADDRESS 3:OVERVIEW OF THE RMBSMARKETVictoria Johnstone, Senior VicePresident, Structured FinanceQuantitative Group, DBRS (Europe)Limited

17:10 PANEL III: THE MORTGAGEBACKED MARKET� Innovations in MBS� Impact of economy on the

housing market – implicationsfor debt markets

�Will the steady growth in theUK non-conforming market berepeated in Ireland? Multijurisdiction RMBS; Conduittrends in European RMBS

�Growth in CMBS – future trends�Review of Opera Finance (CMH)

- discussion on Ireland’s firstCMBS transaction; CMBSfuture in Irish Context; CMBSconduits; REITS

Moderator: Stephen Hynes,Managing Director Capital Markets,GMAC RFC; Reto Bachmann, Headof European ABS Strategy, UBS;John Bigley, Vice President, RealEstate Finance Group, Merrill Lynch;Hugh Fraser, Vice President,European Debt Capital Markets,Eurohypo AG; GiulianoGiovannetti, Head of Sales & MarketDevelopment, PMI MortgageInsurance Company Limited;Philippe Tapernoux, Head ofUK/Northern Europe Securitisation,IXIS Corporate & Investment Bank

DAY ONE - TUESDAY AFTERNOON, 28TH NOVEMBER 2006 DAY TWO - WEDNESDAY, 29TH NOVEMBER 2006

16:10 REFRESHMENT BREAKSponsored byAIB International Financial Services

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18:00 COCKTAIL RECEPTIONAND END OF DAY ONESponsored by Irish Stock Exchange

13:00 LUNCHSponsored by BDO Simpson Xavier

10:30 REFRESHMENT BREAKSponsored by Marsh

conference programmeconference programme

Silver sponsors:(*Booked at time of going to press.)

conference & seminar speakersconference & seminar speakersJeffery Amato, Head of European Credit Strategy, Goldman Sachs Intl.Jeffery Amato is Head of European Credit Strategy at Goldman Sachs inLondon. Jeff is responsible for covering credit strategy across Europeancredit markets and is part of the global Credit Strategy team. Prior to joiningGoldman Sachs in March 2006, Jeff worked at the Bank for InternationalSettlements and the Federal Reserve. Jeff has a Ph.D. in Economics fromHarvard University and a B.Sc. degree from the University of Toronto.

Rob Ford, Head of European ABS trading, Barclays Capital and Co-Chair,the European Securitisation Forum (ESF) Traders Working GroupRob, aged 41, is head of European ABS secondary trading at Barclays Capitalin London. He has been trading ABS since 1989 (when Barclays launchedtheir first MBS issue - Gracechurch Mortgage Finance). He was alsoresponsible for building Barclays Capital’s successful Libor credit tradingteam, and he still retains particular responsibility for trading the Sterling

FRN book. Previously he has traded corporate bonds, gilts and before that futures & bondoptions (both on LIFFE and OTC), in a career with Barclays spanning almost 20 years.

Georg Grodzki, Global Head of Investment Grade Credit Research, RBCCapital MarketsGeorg Grodzki is global head of investment grade credit research at RBCCapital Markets. Prior to assuming this role in 2001, he oversaw CSFB’sEuropean credit advisory and credit research activities. He had joined CSFBfrom Moody’s in London where he served as senior analyst from 1989 to1993. His previous professional experience includes assignments in

merchant banking, management consulting and regional government.

Markus Herrmann, Head of Global ABS Strategy, HSBC Bank plcMarkus Herrmann, together with his team based in London and New York,focuses on the UK, European, Asian, US and other international ABS andRMBS markets in the context of HSBC Groups Global Fixed IncomeStrategy. HSBC ranked among the top ABS research teams in theEuromoney Research surveys published in 2004 through 2006. Markusjoined HSBC in 2003 from Deutsche Bank, and has been working in

securitisation and covered bond research for more than ten years. He is a regular speaker atinternational ABS conferences and contributed research articles to a number of publishedmonographs on European capital markets, securitisation and credit derivatives. He is amember of the Market Standards and Practices Subcommittee, and the Senior ResearchersWorking Group, of the European Securitisation Forum.

Pascale Viala, Managing Director - Head of European Capital Markets, CIFG EuropePascale is responsible for CIFG’s capital markets business in Europe, including theorigination, marketing and underwriting of CDOs, commercial real estate and insurance-linked securitisations. Since joining CIFG, she has also actively participated to the ISDA’sCredit Market Practice Committee. Prior to joining the CIFG Group, Pascale was VicePresident, Senior Analyst at Moody’s Investors Service Limited in London in the structuredfinance area. Prior to that, she worked at the European Investment Bank in Luxembourg as aneconomist and as an Assistant Professor of economics at the University of Montreal.

conference programmeconference programme conference gold sponsorconference gold sponsor

BDO Simpson Xavier is a member of the BDO International network, the world’s fifth largestaccountancy organisation. BDO International leads the market globally in advising growingbusinesses. We have over 2,000 partners and 23,000 staff working in 621 offices in 105 countries.

Working with the BDO International Network on a regular basis gives us the strength andglobal reach to serve multinational organisations and the capability to deliver a world class,global service to our clients. Our Irish clients are continually growing and seeking newopportunities abroad. Our commercial experience and our ability to liaise with Internationalcolleagues have continually delivered for our clients.

Our Irish Financial Services GroupBDO Simpson Xavier’s Financial Services Group provides specialist advice to the industry,whilst helping our clients deal with the changes and developments that occur within thisconstantly evolving industry. Our services include, audit, tax compliance services andadministration services for non domicile funds and liquidation services.

Our key areas of growth are in relation to securitisation programmes; we are currentlyauditors to a number of international securitisation platforms. Our key strength lies in ourInternational connections, we have worked with our colleagues in London and Jersey on anumber of Financial Services assignments.

DAY TWO - WEDNESDAY, 29TH NOVEMBER 2006, continued

14:00 PANEL VII: IRELAND –DEVELOPMENTS IN 2006 AND2007 AS AN INTERNATIONALSECURITISATION CENTRE�Overview of Irish developments as

seen by the ISF� ‘Building on Success’ - relevance to

Irish securitisation industry�Developments in Irish issuance:

- Risk Securitisation - postreinsurance Directive (SPRV’s)

- Emerald Programme - regulatorycapital/funding: the changingrational for issuers post Basel II

- Start MortgagesModerator: Deirdre Somers, Director ofListing, Irish Stock Exchange and Chair,Irish Securitisation Forum; DeirdreBarry, Head of Treasury, Start Mortgages;John Larkin, Partner, Head of InsuranceUnit, William Fry and Chairman of AnTaoiseach’s IFSC Insurance Group;Deirdre Lyons, Head of Financial Services,IDA Ireland; Mark Whelan, SeniorManager, Capital Markets, EBS

14:45 PANEL DEBATE VIII: ROLE OFIRELAND IN THE COVEREDBONDS MARKET�Developments in the Irish Covered

Bonds market�Regulatory updates – implications

of updates in the Asset CoveredSecurities Act 2001

�Opportunities for growthModerator: Julia Hoggett, Global Headof Capital Markets, Depfa Bank plc;Vincent Digby, Head of Funding, Bankof Ireland; Fritz Engelhard, Director,European Fixed Income Strategy, BarclaysCapital; David Barry, Manager, GlobalTreasury - AIB; Massimo Catizone,Assistant Vice President-Analyst, Moody’sInvestors Service

15:30 REFRESHMENT BREAK

16:00 KEYNOTE ADDRESS 8�An analysis of the changing profile

of investors globally� Irish Investors – and the growth of

the industry in Ireland

Dermot Hardy, Head of Treasury, AarealBank AG, Dublin Branch

16:20 PANEL IX: SERVICINGSTRUCTURED FINANCESTRUCTURES - REGULATORY,ACCOUNTING AND CHOICE OFJURISDICTIONS�Comparing: UK, Cayman Islands,

Channel Islands, Ireland,Luxembourg and the Netherlands

�Taxation and double-taxagreements: Legal framework;Regulatory; Stock exchange listings;SPV administration

�The expanding role of the trustee insecuritisation and CDO transactions

�Challenges facing trustees in anincreasing diverse & complex market

�How the trustee interacts andcoordinates with the deal team

�Managing expectations in relationto transaction monitoring andverification

� Is pricing having an effect on trustee’sability to meet the market’s demands?

� Investor reporting:dissemination ofinformation and futuredevelopments re: minimumreporting requirements

�Choosing a structure - SPV v SIV� Insolvency law issues� Impact of regulations on the credit

markets�Latest updates in operational

requirements for synthetic andtraditional securitisations; Arbitrageand balance sheet control;

�Amendments in trading book rules:counterparty risk, double default,cross-product netting; Credit eventsand settlement mechanisms; Moralhazard risk of non-votingparticipation

�Securities law issues�Anti-money laundering procedures�3rd party equity ; Reducing

originator and issuer liabilities�Accounting & Tax developments�Updates in IFRS/IAS39 - Financial

Instruments: Recognition &Measurement

� ISDA Documentation�The tax problems that can arise for

investors – e.g. in equity�FAS 140�SIC 12 Consolidation questions,

FASB on ConsolidationModerator: Julian Reddyhough,Managing Partner, Maples and Calder;Darina Barrett, Audit Partner, FinancialServices, KPMG; PJ Henehan, TaxPartner, Financial Services Group, Ernst &Young; Philip Shinn, CharteredAccountant, Nexgen Financial Solutions;Martin Reilly, Audit Partner, Deloitte

17:10 PANEL X:REINSURANCE/INSURANCESTRUCTURED FINANCE� Insurance and Securitisation: the

role of reinsurers�Where to from here for insurance

securitisation? Forecasts for 2007�Development of insurance

securitisation in the life and non lifeside: key market characteristics andkey structural features of productsoffered

�Risk transfer between insurance andcapital markets – Europeanpotential for Insurance- Life (e.g. synthetic life

catastrophe bonds; value in forcemonetisations (embedded valuesecuritisations); new businessstrain funding

- Non Life

�The role of monolines

�Property risks

�Casualty risks

�Auto insurance

Moderator: David Dillon, Senior Partner,Dillon Eustace; Michael Buamstein,Senior Vice President, Capital Markets,Scottish Re; PJ Henehan, Tax Partner,Financial Services Group, Ernst & Young;Jean-Louis Monnier, Senior VicePresident, ABS/ILS Distribution, Swiss ReCapital Markets Limited; Pascale Viala,Managing Director - Head of EuropeanCapital Markets, CIFG Europe

18:00 END OF CONFERENCE ANDDRINKS RECEPTION

13:00 LUNCHSponsored by Ernst & Young

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Julian Reddyhough, ManagingPartner, Maples and CalderJulian has practiced at Maples andCalder since 1989 and has been apartner since 1994. He is head of thefinance department and one of thefirm’s managing partners. Julian now

jointly manages the new Dublin office and is amember of the Management Committee of the Maplesand Calder Group. Expertise - Julian has over 17 years’experience of all aspects of commercial practice in theCayman Islands. Julian specialises in corporate, capitalmarkets, structured and asset finance transactions,mutual funds, partnerships, JVs and general corporatework. Julian is regularly listed in commercialpublications as a leading commercial lawyer in theCayman Islands.

Iain Barbour, Managing Director,MBIA UK Insurance LimitedIain Barbour is a Managing Directorat MBIA. Iain has responsibility forMBIA’s residential mortgage businesstogether with its FinancialInstitutions Group business in

Europe. Iain also spearheads MBIA’s efforts to providebanks with efficient solutions under the impendingBasel II environment. He has responsibility for MBIA’sFixed Income Investor Relations in Europe, workingclosely with investors in MBIA guaranteed issues andfocuses on broadening the investor base across Europe.Iain Barbour was previously head of securitization atCommerzbank. Prior to this, he establishedCommerzbank’s successful structured finance researchfunction. He has worked in various origination,structuring, coverage and research roles at, amongstothers, Barclays Capital, Lehman Brothers andCitigroup. Iain Barbour was Chairman of the EuropeanSecuritisation Forum during 2004 and 2005, and aMember of the Board of the Bond Markets Associationduring 2005. He remains a Member of the Board ofDirectors of the European Securitisation Forum.

Robina Barker Bennett, Managing Director,Head of European Credit Structuring & Origination,CIBC World Markets plcRobina started her banking career in 1990 at HambrosBank, in a variety of areas from Leveraged Loans toDebt Advisory. After 6 years, she left banking andspent time in the corporate and insurance worldcovering project/structured finance. In the late 90sRobina was part of the management team that set upEnron Credit, the credit trading group within Enron.While there she was responsible for structuring andplacing four synthetic arbitrage CDOs. Robina joinedCIBC in Jan 2002, and is now head of the EuropeanCredit Structuring team, responsible for the executionof all European Securitisation and CDO business.

Giuliano Giovannetti,Head of Sales & MarketDevelopment, PMI MortgageInsurance Company LimitedGiuliano Giovanetti is responsible forsales, marketing and businessdevelopment across European

markets. Before that, Giovannetti has served asCountry Manager for Italy. Prior to joining PMI in2004, Giovannetti was Managing Director at ColliersElitrade, a property advisor, where he was in charge ofinvestment banking accounts, portfolio valuations andnon-performing loan deals and operations. Giovannettihas held positions with McKinsey & Co., where heserved as consultant to the leading commercial banksin the country. He is also co-founder and former CEOof a leading real estate portal.

Shaun Baddeley, Senior Director,European Structured Finance,FitchRatingsShaun H. ST. C. Baddeley is a seniordirector in Fitch Ratings’ creditproducts group. Shaun is responsiblefor managing the performance

analytics team in London, monitoring theperformance of all European CDOs rated by Fitch. Heis also responsible for overseeing CDO asset managerreviews and managing the surveillance of rated CDOasset managers in Europe. Prior to his role in the creditproducts group, Shaun was responsible for managingthe development of relationships with non-financial/financial corporate issuers, investors, andintermediaries in central and southern Europe. Beforejoining Fitch in 1997, Shaun served four years as anofficer in H. M. Forces.

David Owens, Director - Securitisation, INGDavid heads up the securitisation activities of ING inDublin, which includes structuring and execution ofclient transactions as well as the management of anumber of ABCP conduits. He has structured andexecuted transactions across a range of asset classesincluding consumer finance receivables, trade receivablesand emerging market future flows. Prior to ING, Davidworked in Corporate Banking with Bank of Ireland.

Jean-Louis Monnier, Senior VicePresident, ABS/ILS Distribution,Swiss Re Capital Markets LimitedJean-Louis Monnier joined Swiss Rein 2002 and is responsible forEuropean ABS and Insurance LinkedSecurities Distribution within Swiss

Re Capital Markets Ltd. Jean-Louis has 13 yearsexperience in marketing structured assets and risktransfer solutions to European financial institutions.Prior to joining Swiss Re, Jean-Louis worked in thederivatives solutions groups of Gen Re Securities,CIBC World Markets and Societe Generale.

Mark Bowles, Head of Fixed Income InvestmentPortfolios Group, HVB Corporates & MarketsBowles runs the Fixed Income Investment Group atHVB in London, now part of Unicredit Markets andInvestment Banking. The Fixed Income Group runsover 6 billion of Global ABS investments and coversConsumer, CMBS, ABS and CDO sectors, investingfrom BB up to AAA. Prior to setting up the ABSinvestment business at HVB Bowles ran similar groupsat Creditanstalt and Bank Austria and has beeninvesting in ABS product since the Early 1990’s. Inaddition to the group’s buy-side activities Bowles hasalso been responsible for a number of cash andsynthetic portfolio ‘repackagings’ to hedge risk oroptimise capital treatment of the group’s assets.

Reto Bachmann, Head of European ABS Strategy,UBSReto Bachmann is Head of European ABS Strategy atUBS in London. The European ABS Strategy team isresponsible for covering all structured finance sectorsacross Europe. Reto joined UBS in the Spring of 2006from Lehman Brothers, where he was a senior memberof the European ABS Research team since 2002. Priorto his focus on European ABS, he was a member ofLehman Brothers’ European credit strategy team.

James Fairrie, Managing Director, Wilmington TrustJames Fairrie is the joint Managing Director ofWilmington Trust SP Services (London) Limited(formerly SPV Management Limited). He joined theCompany in December 2000 as a Director. Prior tothis, he commenced his business career with HoggRobinson in 1977 as a Credit Insurance Broker andmoved to Grindlays Bank in 1978 where he specialisedin Trade Finance. In 1980, James left Grindlays to joinLazard Brothers where he worked as a Manager until1985, when he joined the Investment Banking arm ofHSBC in London, working in Hong Kong in 1985 to1987 and Singapore from 1987 until 1989 as AssistantDirector Trade & Project Finance Asean Region. In1990 he joined Euler Trade Indemnity plc to head upthe Export Credit Insurance and Financial RiskInsurance underwriting teams at Euler TradeIndemnity, where he was made a Director of EulerTrade Indemnity International in 1994.

Alex Cataldo, Vice President, SeniorCredit Officer, Moody’s InvestorServices Ltd.Alex Cataldo is a Vice President forMoody’s EMEA structured financeteam. He has been lead Analyst forEuropean structured finance

transactions covering a variety of asset classes. He iscurrently the senior team member for securitisationtransactions rated out of Italy, in which he has focusedhis main activities for close to 5 years. Before joiningMoody’s, he completed his Masters studies at SDABocconi in Milan, Italy. Previous to that, he worked asa strategy consultant for KPMG in London and as aprofessor in Massachusetts (USA).

Sunil Dattani, Head of CDO Investments, UBSGlobal Asset Management (UK) LtdSunil Dattani is Head of Collateralized DebtObligations (CDO) Investments, within the FixedIncome department. He is responsible for portfoliomanagement and analysis. Sunil joined UBS GlobalAsset Management in 2004. Prior to this he worked atGulf International Bank (GIB) as Head of Investments.He set up the fixed income trading and derivativesgroup, was responsible for the management of aUSD9.5bn global portfolio, and was a member of theasset management committee. Prior to his GIB role,Sunil worked for Banca Nazionale de Lavoro,Continental Bank and Touche Ross in London. Sunilis a member of the Institute of Chartered Accountants.

Moorad Choudhry, VisitingProfessor, Department ofEconomics, London MetropolitanUniversity, and Visiting ResearchFellow, ISMA Centre, University ofReadingMoorad Choudhry is Head of

Treasury at KBC Financial Products in London. Hejoined there from JPMorgan Chase Bank, where he wasa vice-president in Structured Finance Services salesand marketing. Prior to that he was at Hambros BankLimited in their Treasury division and at ABN Amro

Hoare Govett Sterling Bonds Limited, where he ran themoney markets desk. He began his City career at theLondon Stock Exchange in 1989.

Michael Buamstein, Senior VicePresident, Capital Markets, ScottishReMichael Baumstein is currentlySenior Vice President of CapitalMarkets at Scottish Re GroupLimited. Michael is also President of

Scottish Res NASD Broker/Dealer, Scottish Re CapitalMarkets. Michael joined Scottish Re in March 2004and is currently responsible for developing andexecuting the Company’s capital markets strategies.Prior to his current role, Michael led the Company’scorporate finance initiatives, and was the firm’s liaisonwith rating agencies and investors. Before joiningScottish Re, Michael was an investment banker, with aspecialty in financial institutions corporate financeand mergers and acquisitions at Bear Stearns andPrudential Securities. He also held finance andstrategy positions at PriceWaterhouse Coopers andScudder Kemper Investments.

William Davies, VP InternationalStructured Product Research,Merrill LynchWilliam Davies has been at MerrillLynch since 2000 and is a VicePresident in the InternationalStructured Product Strategy team.

Prior to Joining Merrill Lynch he worked as aChartered Accountant for five years and is also a CFAcharter holder.

Peng Sun, CFA Manager,ABS Strategist, Global Fixed IncomeStrategy, HSBC Bank plcPeng is currently covering ABSproducts originated out of Europeand Asia, as part of the Structured& Asset Backed research team

within Global Fixed Income Strategy. Peng joinedHSBC in 2001.

David Dillon, Senior Partner,Dillon EustaceDavid Dillon is an Irish citizen andwas admitted to practice as a solicitorin 1978. David Dillon is a foundingpartner and a senior partner of DillonEustace where he works principally in

the areas of corporate finance, financial services andbanking. He is also a director of a number of Irish basedinvestment and management companies. He is amember of a number of committees and sub-committees established by the Irish Law Society relatingto commercial law and financial services. He is amember of the Investment Funds Committee(Committee I) of the International Bar Association andspeaks regularly at the IBA and other international fora.He is chairman of the Taoiseachs Funds Group and amember of the Financial Services Clearing House policygroup. He is the Law Societys nominee to the LenisterSocietys Published Accounts Awards Committee.

Michael Furtado, Director, RBC Capital MarketsMichael Furtado is Head of UK Structured CreditProducts Sales at RBC Capital Markets, London.Michael is responsible for marketing and executingstructured products, including synthetic and cashCDOs, to UK and Irish investors. Previously, he heldvarious positions at Deutsche Bank, London withintheir Global CDO, Integrated Credit Trading andGlobal Credit Derivatives groups. Prior to that, he wasin Clifford Chance’s International Securitisation group.

Stephen Hynes, Managing DirectorCapital Markets, GMAC RFCStephen is the Capital MarketsDirector for GMAC-RFC in the UKoverseeing RMAC, the No 1 Non-Conforming residential mortgagesecuritisation programme as well as

the leading whole loan sales programme. Has workedin the UK residential mortgage securitisation marketsince 1989, initially with CIBC Mortgages and FirstMortgage Securities. Spent 5 years in investmentbanking in the structured finance/securitisation areawith Rabobank and ING Barings before joiningGMAC-RFC in 1998 in the US.

Deirdre Somers, Director of Listing,Irish Stock ExchangeDeirdre Somers is Director of Listingat the Irish Stock Exchange (ISE). )with responsibility for equity, debtand investment fund listings. Sheparticipated on the EU Council

working groups on the drafting of the Prospectus andTransparency Directives as the Irish Governmentexpert and advised on the primary market aspects ofthe Market Abuse and Markets in FinancialInstruments Directives. She worked with the IrishRegulator on the Committee of European Securities

Regulators work on prospectus disclosure, chairingsubgroups on ABS and investment funds. She is aMember of the Irish Company Law Review Group andco-chair of the Plc Committee of CLRG which has,interalia, responsibility for oversight of theimplementation of EU Directives into Irish companylaw. In 2005, she was appointed as Chairman of theIrish Securitisation Forum. A chartered accountant byprofession, prior to joining the ISE in 1995, shespecialised in international tax with KPMG.

Galen Moloney, Director, EuropeanStructured Finance, FitchRatingsGalen Moloney is a director in FitchRatings’ collateralised debt obligation(CDO) group. He is a member of theteam within the CDO groupresponsible for rating analysis of

balance sheet and cash flow arbitrage collateraliseddebt obligations transactions including CDOs of ABS,CLOs and Mezzanine Funds. Galen has also beeninvolved in rating structured investment vehicles. Inhis time at Fitch, Galen has rated a broad spectrum oftransactions including the first Portuguese SMEtransaction, Promise Caravela and Fitch’s first publicfinance initiative CDO, Stichting Profile SecuritisationI. Prior to joining Fitch, Galen was a financialcontroller at JP Morgan Chase focusing on theirEuropean and Asia Pacific structured finance business.

Nick Bourne, Head of Securitisation, GMAC RFCNick joined GMAC-RFC Ltd in 2000. He is currentlyHead of Securitisation with responsibility forstructuring and managing structured finance/securitisation transactions, including twenty-fourissues from the RMAC programme.

Philip Shinn, Chartered Accountant, NexgenFinancial SolutionsPhilip worked in London for Nationsbank, DaiwaEurope, RBS (Financial Markets) and Credit SuisseFirst Boston. Amongst other things Philip wasresponsible for UK GAAP policy and the transfer toIFRS and UAS GAAP. Currently, he has undertaken aproject to prepare Nexgen Financial Solutions Groupfor its imminent implementation of IFRS.

Fergal McGrath, Director,Credit Spread Portfolio, DexiaInvestments IrelandFergal McGrath recently joined Dexiawhere he works as the Senior PortfolioManager within the Credit SpreadPortfolio business line primarily

focusing on ABS/MBS and Structured and SyntheticProducts. Fergal is also a member of the CSP InvestmentCommittee. Prior to Dexia, Fergal spent several years atKBL Bank Ireland where he was Head of Banking andran the Banking Portfolio primarily composed ofinvestment grade ABS/MBS, Banks and Corporatebonds. Prior to KBL, Fergal spent 5 years in Boston,U.S.A, where he worked as a Property Investment Analystfor Sun Life Financial where he originated commercialmortgages for both securitisation and balance sheet.

Hugh Fraser, Vice President,European Debt Capital Markets,Eurohypo AGHugh has been a member ofEurohypos European Debt CapitalMarkets team since early 2005.Previously he worked in Fitch Ratings

European Commercial Mortgage BackedSecuritisation (CMBS) team where he rated amultitude of European CMBS transactions. Sincejoining Eurohypo, Hugh has worked in theorigination, structuring and execution of real estaterelated financings throughout Western Europe. Thisincludes CMBS origination for Eurohypos Operaconduit and provision of on balance sheet structuredfinance. Hugh is well versed on the intricacies of Irishsecuritization issues having recently completed thearrangement of Irelands first CMBS transaction OperaFinance (CMH) plc. This involved the securitization ofa 375 million loan secured on Castle Market HoldingsIrish Investment portfolio.

Patrick Coleman, Head of Treasuryand Bonds, Commerzbank Europe(Ireland) LtdPatrick Coleman is head of treasurywith Commerzbank Europe (Ireland)An active asset-backed securities(ABS) investor, he manages both

trading and investment books worth 2 billion.

For all the speaker biographiescheck the website at www.financedublin.comconference/speaker_biogs.php

conference & seminar speakersconference & seminar speakers

HOW TO REGISTER AND PAY

Visit the conference website, register andpay online…www.financedublin.com/conference

Complete and return the registrationform together with payment to:Fintel Limited, Fintel House, 6 The Mall,Beacon Court, Sandyford, Dublin 18.

Call our hotline:00 353 1 293 0566

Complete the registration form, togetherwith your credit card details and fax to:00 353 1 293 0560

REGISTRATION/DOCUMENTATION/CAN'T ATTEND

Registration fee: includes lunches, refreshments and fullconference documentation. The fee does not include hotelaccommodation. Payment must be made in full before theconference. After receiving written confirmation of yourbooking, together with your remittance, we will send youconfirmation and admission details.

Comprehensive documentation: I am unable to attendthe conference so please send me a copy of the documen-tation. I have enclosed a cheque for €200 made payableto Fintel Ltd. Please tick �

Cancellation period: if you cannot attend, one named sub-stitute delegate may attend in your place. If you must can-cel, please confirm your cancellation before 16thNovember 2006 in writing (letter, fax or e-mail) andreceive a refund less 10 per cent + VAT administrationcharge. Regrettably, no refunds can be made for cancella-tions received after 16th November 2006.

Group discounts: Send 2 or more delegates from the samecompany and enjoy a substantial group discount: pleasecontact Martina Bermingham for further details on +353-1-293 0566 or e-mail mb@financedublin.com.

Please photocopy this page to register more than one delegate.

28th & 29th November 2006The Burlington Hotel, Upper Leeson Street, Dublin 4.

The Burlington Hotel is one of Dublin’s most popularhotels. Centrally located, it is a 15-minute walk to the

city centre. Its world-class international Conference andConvention Centre is the largest hotel conference centre

in Ireland. Delegates using the conference hotel mayavail of special room rates. Reservations: +353 1 660

5222. Please quote the ‘FINANCE DUBLIN’ conferenceas a reference when making hotel reservations.

You do not have to completely miss out if you are unableto fit the conference into your schedule. You can

purchase the conference papers which will provide acontinuing source of reference for you and your

colleagues for €200 per copy. Simply tick the relevantbox on the booking form, send with payment and your

copy will be immediately on its way to you after theconference. For more information click onto the

conference website www.financedublin.com/conferenceor call Martina Bermingham at +353 1 293 0566.

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CONFERENCE DETAILS: WHEN AND WHERE

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Please tick below: Per Delegate Net Total VAT Total

Main Conference VAT rate: 21% (all prices in euros)� Single delegate - Main Conference: Group discounts available - See website for details. 980.00 980.00 205.80 1185.80

Seminar - Securitisation 100� Single delegate - Introduction to Securitisation: BOOK NOW! because spaces are limited. 490.00 490.00 102.90 592.90

Seminar - Securitisation 200� Single delegate - Advanced Securitisation: BOOK NOW! because spaces are limited. 490.00 490.00 102.90 592.90

Seminars - Securitisation 100 and 200� Single delegate - Two Seminars: Group discounts available - See website. 750.00 750.00 157.50 907.50

Securitisation 100 and Main Conference� Single delegate - Introduction to Securitisation and Conference: Group discounts available - See website. 1250.00 1250.00 262.50 1512.50

Securitisation 200 and Main Conference� Single delegate - Advanced Securitisation and Conference: Group discounts available - See website. 1100.00 1100.00 231.00 1331.00

Securitisation 100, 200 and Main Conference� Single delegate - Two Seminars plus Conference: Group discounts available - See website. 1250.00 1250.00 262.50 1512.50

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