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Robert J. Keach President-Elect

Samuel J. GerdanoExecutive Director

John W. AmesPresident

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The American Bankruptcy Institute continues to build on its success as the leading professional organization in service to insolvency professionals. For more than 25 years, ABI has fostered an environment where men and women of diverse backgrounds join to exchange ideas, promote professional development and enhance our understanding of complex issues. In this report, we reflect on our significant milestones over the past 12 months – a period marked by change and growth. On behalf of our volunteer leaders and dedicated staff, we hope you will take the opportunity to join your colleagues in building an even more dynamic future for the ABI.

More than 6,000 professionals attended ABI educational programs over the past

12 months, demonstrating that the Institute continues to be the leading provider of high-quality bankruptcy continuing legal and professional education. More than 600 insolvency professionals from 41 states and five countries attended the 2007 Winter Leadership Conference in Rancho Mirage, Calif., and more than 1,100 insolvency professionals from 46 states and three countries attended the 2008 Annual Spring Meeting in Washington, D.C. ABI also sponsored over 20 other regional, local and specialty programs in the United States and abroad. ABI has added seven new conferences for 2008 and 2009.

At the Annual Spring Meeting, guests heard thoughtful keynote remarks by Justice Samuel A. Alito, Jr. on the role of courts in a democratic society and Sen. Sheldon Whitehouse (D-R.I.) on the congressional agenda to help financially strapped homeowners. Attendees were entertained by Mary Matalin and James Carville on the dynamics of the 2008 election season at an IWIRC-hosted luncheon. Plenary sessions covered the role of the CRO, pending legislation affecting consumer credit and mortgages, and a judges’ roundtable on hot cases, as well as ethics and professionalism. The annual Great Debates focused on lively controversies such as whether professional fees lead to forum-shopping, limiting executive compensation in chapter 11, and whether homeowners should be able to lien-strip residential mortgages to fair market value in chapter 13.

For the second time, ABI partnered with the National Conference of Bankruptcy Judges to offer educational programs at NCBJ’s annual conference in Scottsdale, Ariz. The ABI programs were conducted in a workshop format, offering multiple simultaneous roundtable discussions on commercial and consumer developments.

ABI has made quality educational programming on consumer bankruptcy issues a priority at its national and regional conferences, including the Winter Leadership Conference, the Annual Spring Meeting, ABI sessions at the NCBJ, the Central States Bankruptcy Workshop, the Northeast Bankruptcy Conference, the Southeast Bankruptcy Workshop, the Rocky Mountain Bankruptcy Conference and the new Midwestern Bankruptcy Institute (in partnership with UMKC Law School). ABI offers local programming to consumer

bankruptcy professionals as well. Repeating successes from 2005, ABI conducted one-day conferences for consumer professionals in Detroit in November 2007 and Chicago in October 2008. ABI will hold the conference in Detroit again in November 2008. In January 2009, ABI will conduct a similar program in Boston. Further, in January and June 2009, ABI will conduct two full-day skills workshops in Atlanta for consumer bankruptcy professionals regarding such matters as discovery, evidence, testimony, written and oral advocacy, trial ethics and appellate procedures. Also new in the last year was the Consumer Bankruptcy in Practice webinar series, stopping in Atlanta, Tennessee, Houston and Denver, in which experts addressed consumer bankruptcy issues of national importance from a local point of view.

Educational Programs

Best-selling author and political satirist Christopher Buckley was the keynote speaker at the 19th Annual Winter Leadership Conference in Rancho Mirage, Calif.

Supreme Court Justice Samuel A. Alito, Jr. provided a thoughtful keynote luncheon talk on the judicial function at the 26th Annual Spring Meeting in Washington DC.

Washington power couple Mary Matalin (above) and James Carville (below) entertained the Saturday luncheon crowd with their polarized take on political issues of this election year at the Annual Spring Meeting.

Grammy-winner Al Jarreau entertained the crowd after the Final Night Dinner at this year’s 26th Annual Spring Meeting.

ABI continues to be the leading provider of high-quality bankruptcy continuing legal and professional education, sponsoring more than 20 national, regional, local and specialty programs in the United States and abroad.

Legislative ActivityABI continued to include BAPCPA issues and

analysis in its educational programs and publications during the last year. During this third year of implementation, the discussion of case law, strategy and best practices was both insightful and practical. The more prominent legislative-related issues focused on the myriad challenges facing consumers today, such as subprime mortgage defaults, record-breaking foreclosure rates, and predatory lending and credit card practices. Pending legislation focused on issues directly related to bankruptcy, such as whether to allow modification of residential mortgages in chapter 13, with such proposed legislation failing on the Senate floor in April 2008. Other measures to address the consumer homeowner’s crisis were more successful, such as the Mortgage Forgiveness Debt Relief Act of 2007 and the Housing and Economic Recovery Act of 2008. With the crisis deepening and a pending Presidential election and new administration, these issues promise to continue to be at the forefront of debate and legislative activity next year. ABI is a nonpartisan organization founded to provide Congress with an unbiased analysis of bankruptcy issues. Through its Robert N. Zinman Resident Scholar and others, ABI often answers questions from and educates congressional staffers on bankruptcy issues. In addition, ABI is often called upon for input on proposed changes to the Federal Rules of Bankruptcy Procedure. For example, in January 2008, at the request of the Advisory Committee on Bankruptcy Rules, ABI surveyed its members regarding proposed amendments that would set 14 days as the deadline

for filing a notice of appeal in a bankruptcy case. Further, in the summer of 2008, the Rules Committee of the Judicial Conference of the United States invited ABI members to comment on proposed legislation to extend certain deadlines by changing the calculation of time periods. No fewer than a dozen ABI members testified before Congress in the last year. While the statements of these ABI members reflect their personal views and not those of the ABI, members’ testimony is another way in which ABI is prominent in the education of Congress. Specifically regarding the housing crisis, three ABI members testified before the Senate Judiciary Committee in December 2007 on the pending legislation to allow modification of residential mortgages in chapter 13, including the then-current Ziman Scholar, Mark Scarberry. Three ABI members also testified before the U.S. Senate Judiciary Committee in May 2008 on whether misconduct in bankruptcy was fueling the foreclosure crisis. In addition, five ABI members, including the current Zinman Scholar, Jack F. Williams, testified before subcommittees of the House Financial Services Committee regarding a credit cardholders’ “bill of rights,” a proposed means-test exclusion for reservists called to active duty, and the Protecting Employees and Retirees in Business Bankruptcies Act of 2007.

ABI Resident Scholar Jack Williams testifed before the House on the financial difficulties faced by many military families called into active duty.

Michael Bernstein (Arnold & Porter) testified at a House hearing on employee issues in chapter 11.

Former ABI Resident Scholar Mark Scarberry testified at a Senate hearing on the ability to modify a home mortgage under chapter 13.

Sen. Sheldon Whitehouse (D-R.I.) provided an update on the Senate’s legislative agenda, including bankruptcy issues, at the 26th Annual Spring Meeting in Washington D.C.

Since its creation in 1989, the ABI Endowment Fund has been a vital resource to enhance

ABI’s mission of scholarly research and education. Contributions and pledges have grown to more than $2.3 million. Over 5,500 ABI members have contributed to the Endowment, and the Endowment received its largest-ever single gift of $50,000 this year from Bayard, P.A. in honor of the firm’s 50th anniversary. The Research Grant Committee solicits and receives proposals and makes decisions on projects for funding. ABI issued the first grant from the Endowment in 1998, and since then, the fund has awarded more than $800,000. At the 2007 Winter Leadership Conference, ABI unveiled its landmark multi-year empirical study of professional fees in chapter 11 cases. Prof. Stephen Lubben, the Daniel J. Moore Professor of Law at Seton Hall University School of Law, conducted the study, and the Endowment funded it with a $346,000 grant. Its findings and ramifications have been the subject of numerous educational sessions by panels of prominent experts. The Endowment also supports the Robert M. Zinman Resident Scholar program. Each Zinman Scholar is a leading member of the bankruptcy academic community on leave from full-time teaching to assist ABI with research and educational activities. The spring and fall 2008 scholar is Prof. Jack F. Williams from Georgia State University. He is the first returning scholar, having served as the inaugural scholar in the fall of 2001. In May 2008, ABI and the University of Illinois College of Law partnered to hold the Interdisciplinary Debt Symposium (“A Debtor World”) at the law campus in Champaign, Ill. The Endowment financially supported the Symposium with a $50,000 grant. It brought together a galaxy of international scholars from a variety of disciplines to examine the phenomenon of debt in today’s economy and culture. The Symposium papers will be published by Oxford University Press. During the past year, the Endowment awarded $17,500 to the Coalition for Consumer Bankruptcy Debtor Education and Dr. Richard L. Wiener, director of the Law and Psychology Program at the University of Nebraska-Lincoln, for an expansion of an important study of the effectiveness of credit counseling. Also, the Research Grant committee has awarded a $7,500 grant to study the impact of the BAPCPA amendments on pro bono representation

and petition preparer filings, as proposed by Jeanne Charn, director of the Bellows Sacks Access to Legal Services Project at Harvard Law School, and Sheryl Serreze, senior fellow at WilmerHale Legal Services Center of Harvard Law School. Another study in progress funded by the Endowment will address the prevalence and impact of claims trading in large chapter 11 cases.

Endowment & Research

Neil Glassman of Bayard, P.A. accepted a gift in appreciation of his firm’s decision to award the Endowment Fund with its largest donation to date: $50,000.

Carl A. Eklund, Martin I. Katz, Keith J. Shapiro, Rebecca A. Roof and ABI President John W. Ames (l-r) were recognized for their donations at the Lifetime Member level.

Endowment Fund Growth{contributions & pledges}

2000 2002 2004 2006$6

90K

$996

K

$1,39

2K

$1,83

7K

2,400,000

2,100,000

1,800,000

1,500,000

1,200,000

900,000

600,000

300,000

02008

$2.3M

(throu

gh 8/

22/20

08)

Endowment Fund Development CommitteeVice-President Development:Anthony SchnellingBridge Associates LLC; New York

Committee Members:Norma CorioJPMorganWilliam DerroughMoelis & CompanyPeter KaufmanGordian Group, LLCJeff MarwilWinston & Strawn LLPPatricia RedmondStearns, Weaver, Miller, Weissler, Alhadeff & Sitterson, PAChester SalomonStevens & Lee, PCJoseph SametBaker & McKenzie LLP

Online TechnologyABI World, our award-winning Web site,

continues to be the preeminent site on the Internet for bankruptcy information, and our home page is one of the first results when searching “bankruptcy” using the most popular Web search engines. An average of almost 160,000 visits per month were recorded during the first eight months of 2008, and the traffic to the Web site during that period was up more than 10 percent over 2007. During this past year, there were many technology and Web-based improvements at ABI:

•TheBoardofDirectorsamendedthebylawstocreate thepositionofVicePresidentforCommunicationsand InformationTechnologyandelectedBankruptcy JudgeEugeneR.WedoffoftheNorthernDistrictof Illinoistofilltheposition.

•ABIacquiredthedomainnameofwww.abi.org,and nowmembersareautomaticallydirectedtoABI’s homepageuponenteringwww.abiworld.orgor www.abi.org. •ABIpostedthefulltextoftheBankruptcyCodeonline withaGooglecustomsearchengine,aswellasthe FederalRulesofBankruptcyProcedure. •ThecurrentissueoftheJournalisavailableonline eachmonthinaninteractiveformat,allowingmembers tobrowsepagesonline,clicktoviewvideosandvisit advertisers’Websites. •MembersnowautomaticallyreceivetheirCLE certificatesafterconferenceselectronicallyandcantrack theirattendancerecordsonline. •ABInowhasanOnlineSupportDeskthatmembers andthepubliccanaccessforimmediatecustomer serviceassistancethroughthe“ContactUs”button. •ABIhasproducednumerousonlinevideostopromote conferencesandtoteachmembersregardingnew technology,suchasthenewinteractiveJournal. ABI also rolled out two major new Web sites during the past year. The first, launched in April 2008, is home to ABI’s 25 membership committees and can be accessed directly at committees.abiworld.org or through the ABI World home page. Each committee page has its own look and feel unique to that committee, offering

ABI members announcements about upcoming committee events, minutes of past committee meetings, all electronic newsletters produced by each committee and listserve activity. Also new is the redesigned Consumer Bankruptcy Center, which can be accessed directly at consumer.abiworld.org or through the ABI home page. This new Web site gathers all ABI’s consumer-specific substantive content (from the Journal, educational programs, distance learning and more) into a user-friendly section “For Consumer Professionals.” Those facing personal financial difficulties can access the section “For Consumers” to read FAQs about the bankruptcy process and other information.

ABI continues to be the leader in high-quality publications of practical use. ABI’s flagship

periodical, the ABI Journal, is published 10 times per year and mails to nearly 12,000 insolvency professionals, bankruptcy courts, members of Congress and others. In 2008, ABI created the interactive version of the Journal online at ABI World. Always influential with practitioners, the Journal was relied upon by the U.S. Court of Appeals for the Sixth Circuit in a July 2008 opinion on reclamation claims. ABI also publishes numerous books, manuals and handbooks. New titles include: •Bankruptcy – A Survival Guide for Lenders, Second Edition,amanualwrittenbyateamofexperts,updated specificallytoassistlendersinunderstandingbankruptcy processpost-BAPCPAinbusinessandconsumercases; •Bankruptcy Fundamentals for the Financial Services Industry,writtenbyDebraLeeHovatter,ahandbookdesigned fornonlawyerprofessionalswhoserviceconsumerbankruptcy accountsforfinancialinstitutions,servicingcompaniesand debtcollectors; •Bankruptcy Litigation Manual: What Civil Litigators Need to Know,amanualwrittenbyseasonedbankruptcylitigators thatprovidesthebasicframeworkofbankruptcylitigation forcivillitigatorsandotherattorneyswhodonothave extensiveexperienceinbankruptcy; •ABI Preference Handbook, Second Edition,apost-BAPCPA updatededitionoftheoriginalhandbookwrittenbyDavidB. Wheeler,providingastreamlinedguidetothe“ins”and“outs” ofpreferenceclaimsandliability; •Retention and Payment: Essentials of Being Retained and Paid as Debtor’s Counsel in Chapter 11,amust-readforattorneys whomaybegenerallyunfamiliarwiththechapter11process butwhofindthemselvesrepresentingchapter11debtors; •Bankruptcy Issues for Commercial Landlords, Tenants and Mortgagees, Second Edition,writtenbyDavidR.Kuney,a post-BAPCPArevisedmanualthatcomprehensivelyaddresses therightsandobligationsoftenants,landlordsandthird partiesinbankruptcy. ABI has more than 30 other titles under development on business, international and consumer topics.

ABI’s 25 member committees publish regular e-newsletters that provide committee members with the latest news and information specific to their area(s) of interest. The committees published more than 80 such newsletters in 2007 and will publish more than 100 during 2008. Through the newsletters, members can become more involved and have more visibility. All newsletters are available to members online at ABI World.

Publications

During the past year, ABI maintained membership at well over 11,500 members.

Members represent all aspects of the insolvency community. The most significant new initiative on behalf of members in 2008 is the creation of new committee leadership positions and the enhancement of committee activities. Members now have a greater opportunity to become active through ABI’s 25 substantive committees. In addition to co-chairs, each committee now has positions for an Education Director, Listserve Moderator, Newsletter Editor, Special Projects/Task Force Leader and Membership Relations Director. The committees conduct educational programs at the Annual Spring Meeting and Winter Leadership Conference, publish electronic newsletters, have active exchanges on their listserves, and sponsor special projects. Other membership initiatives in 2008 included an updated renewal process, an online renewal checkout with multi-year renewal options, and the addition of several discounted services through affinity programs with hotels, rental car companies, office products, airlines and publishers. Further, we developed an online support desk, which enables live chatting with ABI staff for immediate member assistance. Keeping up with the hot trend of social networking today, ABI now has a LinkedIn group consisting of more than 100 members that allows users to develop new contacts by linking with other ABI members. ABI also continued successful existing member initiatives,

such as the Ambassador Program. Through this program, every new member at an ABI conference meets with an assigned experienced member at the opening reception. This Ambassador introduces the new members to colleagues and helps to acclimate them to ABI benefits. Finally, ABI continued its outreach to consumer practitioners with the Consumer Bankruptcy in Practice webinar series, holding four programs in the past 12 months.

Membership

Nonattorney Members by Profession

Panel Trustee Professor/StudentGovernmentAccountantConsultantFinancial ServicesTurnaround ProfessionalOther

Melissa Kibler KnollVice President-Membership

4%

24%

14%

18%

10%

10%

12%

8%

ABI remains a reliable source for the news media on all insolvency topics. On average

during the first seven months of 2008, the press cited ABI more than 180 times a month for a total of 1,264 references, already surpassing the total for all of 2007. During the first eight months of 2008, ABI issued more than 60 press releases and responded to dozens of media requests for data and information. The media coverage and congressional scrutiny of the subprime mortgage crisis carried over into 2008 and will surely continue in 2009. The fallout from the decline of the home mortgage industry has caused a severe credit crunch as well. In an effort to reach out to and educate the press on this important topic, ABI conducted an informational press-only webinar in March, featuring a panel of prominent experts specializing in distressed-com-pany financing. Future media webinars will focus on other troubled sectors such as retail, airlines, automobiles and real estate. In December 2007, shortly after ABI’s release of the Endowment-funded study of professional compensation in chapter 11 cases, ABI conducted a media-only teleconference to discuss this ground-breaking study. The study’s reporter, Prof. Stephen J. Lubben, and two members of the study’s steering committee discussed the conclusions to be drawn as well as the potential ramifications for chapter 11 cases and the bankruptcy bar. ABI leaders also make media appearances through-out the year. In December 2007, ABI’s Executive Director, Samuel J. Gerdano, appeared on CNBC’s “Power Lunch” program to discuss 2007 filing rates and a bankruptcy forecast, a theme repeated on NBC’s “Nightly News” in August 2008.

cited ABI more than 180 times a month for a total

2008, ABI issued more than 60 press releases and responded to dozens of media requests for data and

of the subprime mortgage crisis carried over into 2008 and will surely continue in 2009. The fallout

effort to reach out to and educate the press on this important topic, ABI conducted an informational press-only webinar in March, featuring a panel of prominent experts specializing in distressed-com-pany financing. Future media webinars will focus

a media-only teleconference to discuss this ground-breaking study. The study’s reporter, Prof. Stephen J. Lubben, and two members of the study’s steering

as well as the potential ramifications for chapter 11

ABI leaders also make media appearances through-

Director, Samuel J. Gerdano, appeared on CNBC’s

In the News

ABI Executive Director Sam Gerdano and Prof. Bob Lawless (Univ. of Illinois College of Law) did a series of television and radio interviews as part of a satellite media tour in connection with the May 2 Debt Symposium. The coast-to-coast interviews focused on consumer debt and bankruptcy trends.

Law ReviewThe American Bankruptcy Institute Law Review

is the nation’s largest-circulation bankruptcy law journal. Top students at St. John’s University School of Law edit it, and Thomson West publishes it semi-annually. An advisory board of three dozen bankruptcy judges, scholars and practitioners help to plan theme issues. Prof. G. Ray Warner of St. John’s University School of Law serves as the board chair and faculty advisor. The Law Review continued to be on the leading edge. The centerpiece of the Winter 2007 issue was a symposium on “The Future of Labor Through the Prism of Bankruptcy.” The symposium brought together some of bankruptcy and labor law’s leading practitioners and scholars to address the impact of corporate reorganizations on labor. The Winter issue included five articles from the symposium including the effect of §1113’s application on labor policies, the ongoing pension crisis and the strike injunction in the Northwest Airlines bankruptcy case. The theme of the issue forecasted the 2008 Presidential election, as Sen. Barack Obama made reform of bankruptcy law to protect worker benefits a campaign issue. The Winter issue also included three open-issue pieces on prepayment clauses, the Supreme Court’s Marrama opinion on good faith, and post-petition attorneys’ fees after Travelers, as well as two student notes on significant chapter 13 issues under BAPCPA. The Spring 2008 issue featured seven articles and one student thesis looking at a number of timely insolvency topics, including substantive consolidation and distressed-debt investing. Other articles focused on the effect that filing a chapter 11 case in Delaware has on the likelihood of refiling, and an analysis of Daubert and the admissibility of expert testimony.

Prof. G. Ray Warner (St. John’s University School of Law; Jamaica, N.Y.) presented Stacy L. Molison with a scholarship and award for her work as editor in-chief of the ABI Law Review for 2007-08.

Globalization continues to have a noticeable impact on the insolvency world. ABI provides a number

of tools, resources and educational programs to help insolvency professionals worldwide meet the needs of clients and stakeholders. ABI’s international membership now stands at more than 300 members from 26 different nations. International members outside North America are eligible for a special $95 reduced rate on an “e-membership.” E-members have access to all member benefits and publications electronically. This allows international members to receive information in a more timely and cost-effective manner. ABI held its annual Caribbean Insolvency Symposium in South Florida in January 2008, with the venue shifting in February 2009 to Grand Cayman Island. ABI will hold its Fourth International Insolvency Symposium (and the second one in Germany) in Frankfurt on Oct. 31, 2008. This conference brings together top international speakers to discuss the issues of the moment in international insolvency and restructuring. Topics will include developments in U.S. insolvency law and practice, issues in European and U.S. real estate markets, a comparative study of creditors’ rights/autonomy and participation, and unique features of insolvencies brought about by fraud. During 2009, ABI hopes to broaden its international outreach. Such expansion will include a program in China, production of a manual on the chapter 15 process and a redesign and re-launch of the global insolvency Web site.

International Activity

A dialogue involving perspectives of the PRC Enterprise Bankruptcy Law and how it interacts with U.S. cross-border insolvencies was held on March 25, 2008 at the Council Chamber University of Hong Kong in Hong Kong, China. Prof. Charles Booth, a director of the Institute of Asian-Pacific Business Law and professor at the Richardson School of Law of the University of Hawaii, moderated the symposium. The program was held in conjunction with the Asian Institute of International Financial Law at the University of Hong Kong. An impressive faculty discussed the commercial and investment ramifications of the Enterprise Law and cross-border insolvency issues not only in China but in the United States. ABI President John Ames provided the introduction, and ABI members George Kelakos (Kelakos Advisors LLC; Greenwich, Conn.) and Evelyn Biery (Fulbright & Jaworski; Houston) served as moderators and commentators for the symposium. Above: Evelyn Biery, John Ames and George Kelakos (l-r).

Professional DevelopmentABI maintains a strong commitment to developing the next generation of insolvency

professionals. Law students enjoy full membership benefits at reduced dues and a discounted rate for their first two years after graduation. Over the past year, ABI continued its initiative of providing or assisting in the formal training of judicial law clerks. In March 2008, ABI provided scholarships to 20 judicial law clerks to attend three days of training at the annual Byrne Judicial Clerkship Institute at Pepperdine University School of Law in Malibu. In October 2008 ABI will conduct a one-day training program for clerks of the bankruptcy judges in New York. The 16th Annual Chief Judge Conrad B. Duberstein National Bankruptcy Memorial Moot Court Competition attracted nearly 50 law school teams to the event in March 2008. A team from Mississippi College School of Law prevailed as the top team, and SMU’s Dedman School of Law earned second place. ABI’s co-sponsor is St. John’s University School of Law. Nearly 900 bankruptcy professionals from the New York area again attended the final-night awards dinner at Pier 60 in Manhattan. The competition honors the memory of the late Judge Duberstein, a former member of the ABI Board of Directors and the Chief Bankruptcy Judge of the Eastern District of New York. Two dozen bankruptcy judges from around the nation participated as judges, and three federal appeals court judges judged the final round. Prize money and other financial support comes from the Endowment Fund. In November 2007, eleven of the nation’s top graduate business schools competed in the Fourth Annual ABI Corporate Restructuring Competition, again co-sponsored by Houlihan Lokey Howard & Zukin and hosted by the Kellogg Graduate School of Management at Northwestern University in Chicago. The Wharton Graduate School of Business at the University of Pennsylvania won the beautiful Bettina M. Whyte Trophy, named in honor of an ABI past president and former member of AlixPartners. The competition encourages second-year MBA students to find creative solutions to a real-world complex case problem, while providing them with feedback from some of the top talent in the corporate recovery world who serve as the judges. The ABI Endowment provides financial support to the competition.

ABI Past President Reggie Jackson (Vorys, Sater, Seymour & Pease LLP; Columbus, Ohio) poses with students from the winning team from Mississippi College School of Law, Chief Judge Mary Schroeder (9th Cir.), Judge Duberstein’s daughter Elyse Bellesakos and St. John’s School of Law Dean Mary Daly (l-r).

A team from the University of Pennsylvania Wharton Graduate School of Business won the Corporate Restructuring Competion.

Faculty and law clerks at the 2008 Judicial Clerkship Institute in Malibu, Calif.

CertificationThe American Board of Certification (ABC) is the nation’s premier legal specialty certification

organization, certifying attorneys as specialists in business bankruptcy, consumer bankruptcy and creditors’ rights law. ABC certification serves the public interest by allowing potential clients to make an informed decision in selecting bankruptcy and creditors’ rights counsel. ABC certification encourages attorneys to strive toward excellence and recognizes those attorneys who have met the rigorous ABC standards. The ABC program is sponsored by the ABI and the Commercial Law League of America (CLLA). All three ABC programs are accredited by the American Bar Association and several states. ABC certification is available to all qualified attorneys, without regard to membership in ABI or CLLA.

The ABC operated continuously during 2008 despite the devastating flood that occurred in Cedar Rapids on June 12. Its staff evacuated with its computers and server and moved to a temporary location for over 10 weeks during the summer, returning to headquarters in late August. ABC implemented a disaster plan adopted in 2007, with all documents digitally scanned going back to the very beginning of the organization in 1992. The ABC staff could literally turn on their computers and access the entire organization at a different location with minimal interruption of service to its members. The ABC reached a historic milestone during the end of 2007 with its 1,000th certificate holder. During 2008, ABC’s membership continued to grow, and many new attorneys have decided to take the exam and become certified. In November, the ABC expects to be accredited by the State Bar of Florida.

American Board of Certification Calendar of Examination Dates

Date City Event/Location

12/4/08 Tucson, AZ Winter Leadership Conference Westin La Paloma Resort & Spa

4/1/09 National Harbor, MD ABI Annual Spring Meeting Gaylord National Resort & Convention Center

6/11/09 Traverse City, MI Central States Bankruptcy Workshop Grand Traverse Resort & Spa

7/29/09 Hilton Head Island, SC Southeast Bankruptcy Workshop Westin Hilton Head Island Resort & Spa

8/6/09 Hershey, PA Mid-Atlantic Bankruptcy WorkshopHotel Hershey

9/10/09 Incline Village, NV Southwest Bankruptcy ConferenceTahoe Resort, Spa & Casino

12/3/09 La Quinta, CA Winter Leadership ConferenceLa Quinta Resort & Spa

ABC Officers Joseph A. Peiffer, Chairman Day Retting Peiffer, P.C. Cedar Rapids, Iowa Lawrence R. Ahern III, President Burr & Forman LLP Nashville, Tennessee William I. Kohn, President-elect Benesch Friedlander Coplan & Aronoff LLP Cleveland, Ohio C. Daniel Motsinger, Treasurer Krieg DeVault LLP Indianapolis, Indiana Bettie Kelley Sousa, Secretary Smith Debnam, et al. Raleigh, North Carolina

FinancesSeptember 20, 2008

Dear ABI Members:

The American Bankruptcy Institute sustained its strong financial position during 2008, increasing net assets to over five million dollars. This healthy growth helps ABI continue to provide the highest quality programs and services for our members.

In the annual audit of ABI by Aronson & Company, an audit firm specializing in Nonprofit Organizations, ABI was issued an unqualified “clean report” in conformity with general accepted accounting principles. The auditors found no matters involving internal controls and operations that were considered to be material weaknesses.

In 2008, the ABI Executive Committee approved a Reserve Policy developed by the ABI Finance Committee over the past year. The policy defines ABI Funds among three categories (General Operating Funds, General Reserve Funds and the ABI Endowment Fund) and establishes prudent guidelines for the reserve levels of the two General Funds based upon industry standards and recommendations from outside financial advisors. Setting and maintaining these reserve levels will ensure the financial stability of the ABI for years to come. The ABI Endowment Fund will continue to be kept in a segregated account, and any expenditures of the principal of the Endowment Fund will continue to require a two-thirds majority vote by the Board of Directors under the ABI bylaws.

The Audit Subcommittee is currently in the process of selecting and retaining a firm for the audit of the 2007 Financial Statements.

Respectfully submitted,

Rebecca A. RoofTreasurer

John Tittle, Jr.Audit Subcommittee Chair

American Bankruptcy InstituteStatement of Financial PositionASSETS

December 31, 2007 December 31, 2006

Cash and cash equivalents $371,652 $288,946

Investments 7,324,629 6,415,568

Accounts receivable, net 358,486 221,636

Prepaid and other assets 193,622 352,707

Pledges receivable, net 204,329 156,694

Property and Equipment, net 168,034 228,412

Deposits 49,540 24,368

TOTAL ASSETS $8,669,292 $7,688,331

LIABILITIES AND NET ASSETS

Liabilities:

Accounts payable and accrued expenses

$51,970 $870,739

Deferred revenue 2,434,509 2,158,879

Total Liabilities 3,186,479 3,029,618

Net assets:

Unrestricted 3,291,310 2,806,490

Undesignated 1,953,917 1,680,717

Board designated endowment 5,245,227 4,487,207

Temporarily restricted 237,586 171,506

Total net assets 5,482,813 4,658,713

TOTAL LIABILITIES AND NET ASSETS $8,669,292 $7,688,331

Total Net AssetsABI’s dramatic growth reflects a healthy balance sheet

$244,700

$493,049

$768,266

$970,749

$1,344,459

$1,615,788

$2,143,323

$2,618,846

$4,112,614

$4,658,713

$0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000

1996

1997

1998

1999

2000

2002

2003

2004

2005

2006

$6,000,000

5,482,8312007

53%

28%

12%

3%4%

Revenue from SourceConferences and MeetingsMembership DuesPublications and OtherEndowmentInvestments

Endowment FundMajor Contributors

Century Council Members ($25,000 and above)

• AlixPartners LLC Jay Alix

• Scott L. Baena Bilzin Sumberg Baena Price & Axelrod, LLP

• Bayard, P.A.• William A. Brandt, Jr.

Development Specialists, Inc.• Bridge Associates, LLC

Anthony H.N. Schnelling & Carl H. Young, III

• John William Butler, Jr. Skadden, Arps, Slate, Meagher & Flom, LLP

• L.E. Creel III Creel Sussman & Moore, LLP

• Robert N. Dangremond AlixPartners LLC

• Harry D. Dixon, Jr.• Ted Gavin NachmanHaysBrownstein, Inc.• Keen Consultants LLC• National Auctioneers Association

Robert A. Shively & Larry Theurer• John Tittle, Jr.

NachmanHaysBrownstein, Inc.• Visa USA, Inc.• Bettina M. Whyte

Lifetime Members ($10,000-$24,999)

• Gregory S. Abrams A.S.K. Financial LLP• John W. Ames Greenebaum Doll & McDonald PLLC• Andersen• Ballard Spahr Andrews & Ingersoll, LLP Tobey M. Daluz, Carl A. Eklund & Vincent J. Marriott III• Becket & Lee, LLP• Gerald P. Buccino Buccino & Associates, Inc.• Clear Thinking Group LLC Joseph E. Myers• Mitchell H. Cohen Gordon Brothers Group, LLC• James H. Cossitt• Walter H. Curchack Loeb & Loeb LLP

• Sanford R. Edlein Huron Consulting Group• Ford Elsaesser Elsaesser, Jarzabek, et. al.• Barbara A. Everly• Executive Sounding Board Associates, Inc. Martin I. Katz• James S. Feltman Mesirow Financial Consulting , LLC• Steven G. Golick Osler, Hoskin & Harcourt, LLP• Greater Kansas City Community Foundation o/b/o the Thau Family Trust• High Ridge Partners, Inc. Nancy A. Ross• The Hilco Organization Benjamin L. Nortman & Richard L. Kaye• Hon. Lee M. Jackwig U.S. Bankruptcy Court• Douglas Jessop Jessop & Company, PC• James B. Matthews Prime Locations, LLC• McDonald Hopkins LLC Shawn M. Riley• J. Robert Medlin FTI Consulting, Inc.• Leslie H. Miles, Jr. Asset Valuation Source, LLC• MorrisAnderson & Associates, Ltd. Daniel F. Dooley• NachmanHaysBrownstein, Inc. Howard Brod Brownstein• Robert P. Reynolds Reynolds, Reynolds & Duncan, LLC• Michael P. Richman Foley & Lardner LLP• Rebecca A. Roof AlixPartners LLP• Thomas J. Salerno Squire, Sanders & Dempsey, LLP• David C. Schattenstein Wiener and Wiener LLP• Chester B. Salomon Stevens & Lee PC• Jack Seward• Keith J. Shapiro Greenberg Traurig, LLP• James Patrick Shea Shea & Carlyon, Ltd.

• Togut, Segal & Segal, LLP Albert Togut• Wells Fargo Foothill Scott R. Diehl• Prof. Robert M. Zinman

Benefactors ($5,000-$9,999)

• Arent Fox LLP Andrew I. Silfen• Atlas Partners, LLC Roger “Biff” Ruttenberg• Berman PLC Steven M. Berman• Joseph S.U. Bodoff, P.C. Bodoff & Associates• Edward P. Bond Bederson & Company, LLP• C. R. (Chip) Bowles, Jr. Greenebaum Doll & McDonald PLLC• Paul Bennett Bran Dickstein Shapiro, LLP• Eric L. Brossman Saul Ewing LLP• Richard P. Carmody Adams and Reese LLP• George B. Cauthen Nelson Mullins Riley & Scarborough, LLP• Donald R. Calaiaro Calaiaro, Corbett & Brungo, PC• Rudy J. Cerone McGlinchey Stafford, PLLC• Hon. Leif M. Clark U.S. Bankruptcy Court• Cohn, Whitesell & Goldberg LLP Daniel C. Cohn• H. Slayton Dabney King & Spalding LLP• William Q. Derrough Moelis & Company• Dickinson & Warren, LLP Daniel F. Gosch• Michael J. Epstein CRG Partners• Robert M. Fishman Shaw, Gussis, Fishman, Glantz, Wolfson & Towbin LLC• Douglas M. Foley McGuireWoods LLP• Scott F. Gautier Peitzman, Weg & Kempinsky LLP

• Dion W. Hayes McGuireWoods LLP• Philip J. Hendel Hendel & Collins, PC• Kenneth C. Henry RTL Advisory Group, Inc.• Reginald W. Jackson Vorys, Sater, Seymour & Pease LLP• Jones Day• Soneet R. Kapila Kapila & Company• Peter S. Kaufman Gordian Group, LLC• Robert J. Keach Bernstein Shur• George M. Kelakos Kelakos Advisors LLC• Melissa Kibler Knoll Mesirow Financial Consulting, LLC• William I. Kohn Benesch, Friedlander, Coplan & Aronoff, LLP• Andrew A. Kress Kaye Scholer LLP• Martin F. Lewis Greenhill & Co., Inc.• E. Bruce Leonard Cassels Brock & Blackwell, LLP• David Linn Oak Point Partners• Hon. Raymond T. Lyons U.S. Bankruptcy Court• Jerry M. Markowitz Markowitz, Davis, Ringel & Trusty, PA• James T. Markus Block, Markus & Williams, LLC• Josefina Fernandez McEvoy K&L Gates LLP• David S. Miller Macquarie Capital (USA) Inc.• Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, PC Richard Mikels• Francis A. Monaco, Jr. Womble Carlyle Sandridge & Rice PLLC• Jill L. Murch Foley & Lardner LLP• Epiq Jack B. Fishman & Anne B. Miller

• David L. Osias Allen Matkins Leck Gamble Mallory & Natsis LLP• The Ozer Group/Paragon Capital LLC• Norman L. Pernick Cole, Schotz, Meisel, Forman & Leonard, PA• Daniel H. Puryear Smythe, Puryear & Robertson• Dawn Ragan XRoads Solutions Group• Craig V. Rasile Hunton & Williams LLP• Patricia A. Redmond Stearns, Weaver, Miller, Weissler, Alhadeff & Sitterson, PA• Joseph Samet Baker & McKenzie LLP• Brian L. Shaw Shaw Gussis Fishman, et. al.• Glenn E. Siegel Dechert LLP• William K. Snyder CRG Partners Group LLC• James H.M. Sprayregen Goldman Sachs & Co.• Stutman, Treister & Glatt, PC Michael H. Goldstein• Troy Taylor Algon Capital LLC• Harvey L. Tepner WL Ross & Co.• Richard N. Tilton• J. Scott Victor National City Capital Markets• von Briesen & Roper, SC Randall D. Crocker & Claire Ann Resop• Lynnette R. Warman Hunton & Williams LLP• Prof. G. Ray Warner St. John’s University / Of Counsel, Greenberg Traurig, LLP• Robert H. Warshauer Imperial Capital, LLC• Ian G. Williams Geldards LLP• Prof. Jack F. Williams Georgia State University / BDO Seidman LLP• Deborah Williamson Cox Smith Matthews Incorporated

2008~2009 Board of Directors† Hon. Wesley W. Steen Chairman U.S. Bankruptcy Court Houston, Texas† Reginald W. Jackson Immediate Past-President Vorys, Sater, Seymour and Pease LLP Columbus, Ohio† John W. Ames President Greenebaum, Doll & McDonald PLLC Louisville, Ky.† Robert J. Keach President-Elect Bernstein Shur Portland, Maine† Geoffrey L. Berman Vice President-Publications Development Specialists Inc. Los Angeles, Calif.† Melissa Kibler Knoll Vice President-Membership Mesirow Financial Consulting LLC Chicago, Ill.† James T. Markus Vice President-Education Block, Markus & Williams LLC Denver, Colo.† Josefina Fernandez McEvoy Vice President-International K&L Gates LLP Los Angeles, Calif.† Hon. Steven W. Rhodes Vice President-Research/Grants U.S. Bankruptcy Court Detroit, Mich.† Anthony H.N. Schnelling Vice President-Development Bridge Associates LLC New York, N.Y.† Hon. Eugene R. Wedoff Vice President-Information and Technology U.S. Bankruptcy Court Chicago, Ill.† Rebecca A. Roof Treasurer AlixPartners LLC New York, N.Y.† James Patrick Shea Secretary Shea & Carlyon Ltd. Las Vegas, Nev.

Peter J. Antoszyk Proskauer Rose LLP Boston, Mass. Melyssa R. Barrett Visa USA Inc. San Francisco, Calif. Matthew Bordwin Keen Consultants, LLC Great Neck, N.Y. C.R. “Chip” Bowles Jr. Greenebaum, Doll & McDonald PLLC Louisville, Ky. Jo Ann J. Brighton K&L Gates LLP Charlotte, N.C. Howard Brod Brownstein NachmanHaysBrownstein, Inc. Narberth, Pa.† Prof. Ralph E. Brubaker University of Illinois College of Law Champaign, Ill. Rudy J. Cerone McGlinchey Stafford, PLLC New Orleans, La. Norma C. Corio JPMorgan Chase New York, N.Y. H. Slayton Dabney, Jr. King & Spalding LLP New York, NY William Derrough Moelis & Company New York, N.Y. Hon. Dennis R. Dow U.S. Bankruptcy Court Kansas City, Mo. Mitchell E. Drucker Garrison Investment Group New York, N.Y. Hon. Joan N. Feeney U.S. Bankruptcy Court Boston, Mass. Jonathan P. Friedland Levenfeld Pearlstein LLC Chicago, Ill. Hon. James D. Gregg U.S. Bankruptcy Court Grand Rapids, Mich. Bruce A. Harwood Sheehan, Phinney, Bass + Green Manchester, N.H. Hon. Jeffery P. Hopkins U.S. Bankruptcy Court Cincinnati, Ohio

Prof. Margaret Howard Washington & Lee Law School Lexington, Va. Peter S. Kaufman Gordian Group LLC New York, N.Y. George M. Kelakos Kelakos Advisors, LLC Greenwich, Conn. Jean Maess Thomson West Rochester, N.Y. Deirdre A. Martini Wachovia Capital Finance New York, N.Y. Jeff J. Marwil Winston & Strawn LLP Chicago, Ill. Bruce S. Nathan Lowenstein Sandler PC New York, N.Y. Nancy A. Peterman Greenberg Traurig LLP Chicago, Ill.† Jeffrey N. Pomerantz Pachulski, Stang, Ziehl & Jones PC Los Angeles, Calif. Prof. Nancy B. Rapoport William S. Boyd School of Law, UNLV Las Vegas, Nev.† Patricia A. Redmond Stearns, Weaver, Miller, et al. Miami, Fla. Claire Ann Resop von Briesen & Roper, SC Milwaukee, Wis. Robert J. Rosenberg Latham & Watkins, LLP New York, N.Y. Hon. Barry Russell U.S. Bankruptcy Court Los Angeles, Calif. Chester B. Salomon Stevens & Lee, PC New York, N.Y. Joseph Samet Baker & McKenzie LLP New York, N.Y. Tracy C. Sandler Osler, Hoskin & Harcourt LLP Toronto, Ont. Brian L. Shaw Shaw Gussis Fishman et.al. Chicago, Ill.

Lynn Lewis Tavenner Tavenner & Beran, PLC Richmond, Va. Deborah L. Thorne Barnes & Thornburg LLP Chicago, Ill.† John Tittle Jr. NachmanHaysBrownstein, Inc. Dallas, Texas Sheryl L. Toby Dykema Detroit, Mich. Albert Togut Togut, Segal & Segal LLP New York, N.Y. Lynnette R. Warman Hunton & Williams LLP Dallas, Texas Prof. G. Ray Warner St. John’s University School of Law Jamaica, N.Y. David B. Wheeler Moore & Van Allen, PLLC Charleston, S.C. Ian G. Williams Geldards LLP Nottingham, England R. Scott Williams Haskell Slaughter Young & Rediker, LLC Birmingham, Ala. Hon. Gregg W. Zive U.S. Bankruptcy Court Reno, Nev. Samuel J. Gerdano Executive Director Alexandria, Va.

† Denotes Executive Committee Member

ABI Staff

Senior StaffSamuel J. Gerdano, Executive Director/Chief Operating Officer

Felicia S. Turner, Deputy Executive Director

Mary Kleppinger, Director of Administration

Accounting DepartmentKathy Sheehan, Chief Financial Officer

Patty Sadusky, Accounting Manager

Alexandra Walker, Staff Accountant

Monica Brown, Staff Accountant

Pawel Pietrzak, Staff Accountant

Communications DepartmentCarolyn M. Kanon, Director of Communications

Courtney Reyers, Communications Manager

John Hartgen, Public Affairs Manager

Patrick J. McGrath, Graphic Designer

Traci Van Buren, Communications Assistant

Leah Weston, Staff Assistant

Interactive Media & Technology DepartmentKarim Guirguis, Director of Interactive Media & Technology

Matthew Lukban, Media Technology Specialist

Robel Kassa, Web Specialist

Carrie Soults, Web Specialist

Brian Neisler, Web Developer

John Warren, Web Developer

Membership and Marketing DepartmentChristopher S. Thackston, Director of Membership

Peter Taylor, Marketing Director

Anne-Marie Corkran, Membership Development Manager

Kimberly Hay, Membership Retention Manager

Maggie Brown, Membership Program Manager

Annette Hollingsworth, Executive Assistant

Meetings Jennifer Dugas, Senior Meeting Planner

John Good, Meeting Planner

Jennifer Aversano, Meeting Planner

Shannon Nelligan, Meeting Planner

Rhonda Garrett, CLE Coordinator/Staff Assistant

Rhonda Garrett, Jennifer Dugas, John Good, Jennifer Aversano and Shannon Nelligan

Matthew Lukban, Brian Neisler, Karim Guirguis, Carrie Soults, John Warren and Robel Kassa

Kimberly Hay, Maggie Brown, Peter Taylor, Annette Hollingsworth and Christopher S. Thackston

Patty Sadusky, Kathy Sheehan, Monica Brown, Alexandra Walker and Pawel Pietrzak

Traci Van Buren, Carolyn M. Kanon, Patrick J. McGrath, Courtney Reyers, John Hartgen and Leah Weston

Felicia S. Turner Mary KleppingerSamuel J. Gerdano

ABI CommitteesAlternative Dispute ResolutionCo-ChairsHon. Barbara J. HouserU.S. Bankruptcy Court1100 Commerce St, Suite 1254Dallas, TX 75242T (214) 753-2055F (214) 753-2057judge_barbara_houser@txnb.uscourts.gov

Ms. Judy D. ThompsonPoyner & Spruill LLP301 S College St, Suite 2300Charlotte, NC 28202T (704) 342-5299F (704) 342-5264jdthompson@poynerspruill.com

Asset SalesCo-ChairsMr. Weston AnsonCONSOR Intellectual Asset Management7342 Girard Ave, Suite 8 La Jolla, CA 92037T (858) 454-9091 x207F (858) 454-7819 wanson@consor.com

Mr. Gary S. JacobsonHerold and Haines, PA25 Independence BlvdWarren, NJ 07059T (908) 484-1117F (908) 647-7721 gjacobson@heroldhaines.com

Bankruptcy LitigationCo-ChairsMr. Mark M. MaloneyKing & Spalding LLP1180 Peachtree St, NEAtlanta, GA 30309T (404) 572-4857F (404) 572-5149 mmaloney@kslaw.com

Mr. Irving E. WalkerCole, Schotz, Meisel, Forman & Leonard 111 S Calvert St, Suite 2350Baltimore, MD 21202T (410) 576-8211f (410) 230-0667 iwalker@coleschotz.com

Bankruptcy TaxationCo-Chairs Mr. David Howard SteinWilentz, Goldman & Spitzer, PC90 Woodbridge Center Dr, Suite 900PO Box 10Woodbridge, NJ 07095T (732) 855-6126F (732) 726-6570 dstein@wilentz.com

Mr. John Tittle, Jr.NachmanHaysBrownstein, Inc.3102 Maple Ave, Suite 450Dallas, TX 75201T (214) 800-2304F (214) 800-2318 jtittle@nhbteam.com

Business ReorganizationCo-ChairsMs. Deborah A. CrabbeFoster Pepper PLLC1111 Third Ave #3400Seattle, WA 98101T (206) 447-4400F (206) 447-9700 crabd@foster.com

Leonard KlingbaumKirkland & Ellis LLP153 E 53rd StNew York, NY 10022T (212) 446-4792F (212) 446-6460lklingbaum@kirkland.com

Mr. Bradley D. SharpDevelopment Specialists, Inc.333 S Grand Ave Ste 4070Los Angeles, CA 90071T (213) 617-2717F (213) 617-2718 bsharp@dsi.biz

Commercial Fraud Task ForceCo-ChairsMr. Francis A. Monaco, Jr.Womble Carlyle Sandridge & Rice222 Delaware Ave, Suite 1501Wilmington, DE 19801T (302) 252-4340F (302) 661-7730 fmonaco@wcsr.com

Ms. Sheryl L. TobyDykema400 Renaissance CtrDetroit, MI 48243T (248) 203-0522F (248) 203-0763 stoby@dykema.com

Consumer BankruptcyCo-ChairsMr. Dennis J. LeVineDennis LeVine & Associates, PAPO Box 707 Tampa, FL 33601T (813) 253-0777F (813) 253-0975 dennis@bcylaw.com

Hon. C. Ray MullinsU.S. Bankruptcy Court75 Spring St SW, Suite 1270Atlanta, GA 30303T (404) 215-1002F (404) 215-1117 ray_mullins@ganb.uscourts.gov

Mr. John RaoNational Consumer Law Center77 Summer St, 10th FloorBoston, MA 02110T (617) 542-8010F (617) 542-8028 jrao@nclc.org

Court AdministrationCo-ChairsMr. David D. BirdU.S. Bankruptcy Court824 N Market StWilmington, DE 19801T (302) 252-2943F (302) 573-6014 david_bird@deb.uscourts.gov

Ms. Kelly Beaudin Stapleton6 Fox Ridge DriveMalvern, PA 19355T (610) 647-3863F (610) 647-3874 kellybstapleton@gmail.com

Employee Benefits in BankruptcyCo-ChairsMs. Carol Connor CohenArent Fox LLP1050 Connecticut Ave NW, Suite 500Washington, DC 20036T (202) 857-6054F (202) 857-6395 cohen.carol@arentfox.com

Mr. Jeffrey B. CohenIvins, Phillips & Barker1700 Pennsylvania Ave NW Washington, DC 20006T (202) 393-7600F (202) 393-7601 jcohen@ipbtax.com

Mr. Charles M. DykeThelen Reid Brown, et. al. 101 Second St, Suite 1800San Francisco, CA 94105T (415) 369-7206F (415) 371-1211 cmdyke@thelen.com

EthicsCo-ChairsMs. Terri L. GardnerNelson Mullins Riley & Scarborough, LLPGlenLake One, Suite 200Raleigh, NC 27612T (919) 329-3882F (919) 877-3800 terri.gardner@nelsonmullins.com

Ms. Judith Greenstone MillerJaffe, Raitt, Heuer & Weiss, PC27777 Franklin Rd, Suite 2500Southfield, MI 48034T (248) 351-3000F (248) 351-3082 jmiller@jaffelaw.com

Finance and BankingCo-ChairsMr. Jeff J. MarwilWinston & Strawn LLP35 W Wacker DrChicago, IL 60601T (312) 558-3714F (415) 591-1400 Jmarwil@winston.com

Ms. Suzanne S. YoonCIT National Restructuring Group30 S Wacker Dr, 30th FloorChicago, IL 60606-7459(312) 906-5748suzanne.yoon@cit.com

Financial AdvisorsCo-ChairsMr. Stephen S. GrayCRG Partners Group LLC2 Atlantic Ave, 4th FloorBoston, MA 02110T (617) 482-4242F (617) 482-9804 stephen.gray@crgpartners.com

Mr. Gerald A. ShapiroCRG Partners Group LLC57 Vista RdWilton, CT 06897T (917) 863-1505F (203) 761-1186 gerald.shapiro@crgpartners.com

Health CareCo-ChairsMs. Leslie Ann BerkoffMoritt Hock Hamroff & Horowitz400 Garden City PlzGarden City, NY 11530T (516) 873-2000 (ex. 243)F (516) 873-2010 lberkoff@moritthock.com

Ms. Suzanne KoenigSAK Management Services, LLC4055 W Peterson Ave, Suite 101Chicago, IL 60646T (773) 202-0000F (773) 267-0111 skoenig@sakmgmt.com

InternationalCo-ChairsMr. Luis SalazarGreenberg Traurig, LLP1221 Brickell AveMiami, FL 33131T (305) 579-0751F (305) 579-0717 salazarl@gtlaw.com

ABI CommitteesInternationalCo-Chairs (continued) Mr. Sandy ShandroUniversity College LondonBentham HouseEndsleigh GardensLondon, England WC1H 0EGT +44 (0)20 7679 1000F +44 (0)020 7679 1424 sandy.shandro@ucl.ac.uk

Mr. Ronald J. SilvermanBingham McCutchen LLP399 Park AveNew York, NY 10022T (212) 705-7868F (212) 508-1407 ronald.silverman@bingham.com

Investment BankingCo-ChairsMs. Lorie R. BeersKPMG Corporate Finance LLC345 Park AveNew York, NY 10154T (212) 872-7676F (646) 607-2456 lbeers@kpmg.com

Mr. J. Scott VictorNational City Capital Markets300 Barr Harbor Dr Ste 420West Conshohocken, PA 19428T (610) 940-5802F (610) 940-3875 jscott.victor@nationalcity.com

Law SchoolCo-ChairsProf. Nancy B. RapoportWilliam S. Boyd School of LawPO Box 451003Las Vegas, NV 89154T 713) 202-1881F (702) 896-0459 nancy.rapoport@unlv.edu

Prof. G. Ray WarnerSt. John’s University and Of Counsel Greenberg Traurig, LLP8000 Utopia PkwyJamaica, NY 11439(718) 990-6620

LegislationCo-ChairsHon. Jeffery P. HopkinsU.S. Bankruptcy Court221 E 4th St, Suite 800Cincinnati, OH 45202T (513) 684-2572F (513) 357-5420 jeffrey_hopkins@ohsb.uscourts.gov

Hon. David W. Houston, IIIU.S. Bankruptcy CourtAberdeen, MS 11439T (662) 369-2624F (718) 591-1855 warnerg@stjohns.edu

Mass TortsCo-ChairsMr. Adam PaulKirkland & Ellis LLP200 E Randolph DrChicago, IL 60601T (312) 861-3120F (312) 861-2200 apaul@kirkland.com

Mr. David B. WheelerMoore & Van Allen, PLLC40 Calhoun St, Suite 300Charleston, SC 29401T (843) 579-7015F (843) 579-8727 davidwheeler@mvalaw.com

Professional CompensationCo-ChairsMr. T. Edward MalpassLaw Offices of T. Edward Malpass901 Dove St, Suite 120Newport Beach, CA 92660T (949) 474-9944F (949) 474-9947 temalpass@aol.com

Mr. Thomas A. MorrowAlixPartners LLP2000 Town Ctr, Suite 2400Southfield, MI 48075T (248) 358-4420F (248) 358-1969 tmorrow@alixpartners.com

Public Companies & Claims TradingCo-Chairs Mr. H. Slayton Dabney, Jr.King & Spalding LLP1185 Avenue Of The AmericasNew York, NY 10036T (212) 556-2287F (212) 556-2222 sdabney@kslaw.com

Ms. Andrea J. PincusReed Smith LLP599 Lexington Ave, 29th FloorNew York, NY 10022F (212) 521-5450 apincus@reedsmith.com

Real EstateCo-ChairsMr. Berry D. SpearsFulbright & Jaworski LLP600 Congress Ave, Suite 2400Austin, TX 78701T (512) 536-5246F (512) 536-4598 bspears@fulbright.com

Mr. John F. YoungBlock, Markus & Williams, LLC1700 Lincoln St, Suite 4000 Denver, CO 80203T (303) 830-0800(303) 830-0809 jyoung@bmwllc.com

Technology and Telecommunication CasesCo-ChairsMr. H. Jason GoldWiley Rein LLP7925 Jones Branch Dr, Suite 6200Mc Lean, VA 22102T (703) 905-2825F (703) 905-2820 jgold@wileyrein.com

Mr. William K. SnyderCRG Partners Group LLC13355 Noel Rd, Suite 1825Dallas, TX 75240T (972) 702-7333F (972) 702-7334 william.snyder@crgpartners.com

Uniform Commercial CodeCo-ChairsMr. Gary A. NortonWhitfield & Eddy, PLC317 6th Ave Ste 1200Des Moines, IA 50309T (515) 246-5543F (515) 246-1474 norton@whitfieldlaw.com

Mr. Romaine S. Scott, IIIHaskell Slaughter Young & Rediker2001 Park Pl, Suite 1400Birmingham, AL 35203T (205) 254-1439F (205) 324-1133 rss@hsy.com

Unsecured Trade CreditorsCo-ChairsMr. Ronald E. GoldFrost Brown Todd LLC201 E Fifth St, Suite 2500Cincinnati, OH 45202T (513) 651-6156F (513) 651-6981 rgold@fbtlaw.com

Ms. Jean R. RobertsonCalfee, Halter & Griswold LLP1400 KeyBank CtrCleveland, OH 44114T (216) 622-8404F (216) 241-0816 jrobertson@calfee.com

Val VenableSABIC Innovative Plastics9930 Kincey AveHuntersville, NC 28078P (704) 992-5075F (866) 585-2386valerie.venable@sabic-ip.com

Young MembersCo-ChairsMr. Douglas E. DeutschChadbourne & Parke, LLP30 Rockefeller PlzNew York, NY 10112T (212) 408-5169F (212) 541-5369 ddeutsch@chadbourne.com

Ms. Kathryn PamenterGoldberg Kohn Bell Black Rosenbloom & Moritz, Ltd.55 E Monroe St, Suite 3300Chicago, IL 60603T (312) 201-3983F (312) 863-7483kathryn.pamenter@goldbergkohn.com

As of September 19, 2008

ABI Partners (2008)

Executive Partners

Capital Partners

Presidential Partners

Jefferies & Company, Inc., the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF; www.jefferies.com), is a full service investment bank providing capital markets and advisory solutions across a range of industries to growing companies and their investors around the globe. Headquartered in New York, Jefferies maintains over 25 offices in 11 countries. Jefferies’ Recapitalization and Restructuring Group uniquely provides the focused, unbiased solutions and the senior level attention of a boutique restructuring firm coupled with the real-time market insight, capital access, deep industry expertise and resources of a full service global investment bank.

Thomson West is well known for its comprehensive collection of practice and analytical research tools, helping practitioners stay current on the latest bankruptcy changes. Foremost in its collection is the Norton Bankruptcy suite of publications. Highly regarded for its forward-looking analysis from over 100 leading bankruptcy authorities, the Norton materials can guide any practitioner through the complexities of bankruptcy reform. ABI members are eligible for a 20% discount off new subscription prices for selected West bankruptcy publications. Use promotion code 557651 when checking out at our store, www.west.thomson.com/bankruptcy.

Development Specialists, Inc.

ABI Events Schedule

Boston Consumer Bankruptcy ConferenceJan 19 • Boston

Atlanta Consumer Bankruptcy Skills TrainingJan. 28 • Atlanta

Rocky Mountain Bankruptcy ConferenceJan. 22-24 • Denver

Caribbean Insolvency SymposiumFeb. 5-7 • Grand Cayman Island

Valcon 2009Feb. 25-27 • Las Vegas

Bankruptcy Battleground WestMarch 13 • Beverly Hills, Calif.

Conrad B. Duberstein Moot Court CompetitionMarch 14-16 • New York

27th Annual Spring MeetingApril 1-4 • National Harbor, Md. (D.C.)

Nuts and Bolts for Young Practitioners NYCMay 1 • New York

New York City Bankruptcy ConferenceMay 4 • New York

Litigation Skills SymposiumMay 12-15 • New Orleans

Atlanta Consumer Bankruptcy Skills TrainingJune 4 • Atlanta

Central States Bankruptcy WorkshopJune 11-14 • Traverse City, Mich.

Northeast Bankruptcy ConferenceJuly 16-19 • Bretton Woods, N.H.

Southeast Bankruptcy WorkshopJuly 29-Aug. 1 • Hilton Head, S.C.

Mid-Atlantic Bankruptcy WorkshopAug. 6-8 • Hershey, Pa.

Complex Financial Restructuring ProgramSept. 10-11 • Lake Tahoe, Nev.

Southwest Bankruptcy ConferenceSept. 10-12 • Lake Tahoe, Nev.

Views from the Bench, 2009Sept. TBD • Washington, D.C.

Delaware Bankruptcy ConferenceOct. TBD • Wilmington, DE

ABI Program at NCBJOct. 20 • Las Vegas

ABI/UMKC Midwestern Bankruptcy InstituteOct. TBD • Kansas City

Chicago Consumer Bankruptcy ConferenceOct. 12 • Chicago

International Insolvency SymposiumOct. TBD • Paris

Corporate Restructuring CompetitionNov. TBD • Chicago

Detroit Consumer Bankruptcy ConferenceNov. 11 • Troy, Mich.

Winter Leadership ConferenceDec. 3-5 • La Quinta, Calif.

09 Exhibit and Sponsorship Opportunities at ABI Events

Conference dates and locations subject to change. For the most current dates, log on to

www.abi.org

The ABI Endowment Fund was created in 1989 to provide resources for research and education.

Projects eligible for funding include studies relating to bankruptcy or insolvency; surveys or other analytical investigation; the education of judges, court personnel, other governmental personnel and the general public; scholarships or other educational grants; and any other projects with a material research or educational benefit to the bankruptcy and insolvency community. More than $800,000 has been distributed.

Contributions are tax deductible. The ABI Endowment is a 501(c)(3) tax-exempt organization.

Peter TaylorMarketing Directorptaylor@abiworld.org

Kathy SheehanChief Financial Officerksheehan@abiworld.org

Samuel J. GerdanoExecutive Directorsgerdano@abiworld.org

� B� � End� w� ent� C� ntact� � nf� � � ati� nFor more information, please see us online at www.abiworld.org/endowment or contact one of the ABI staff members below at (703) 739-0800.

� � e� ican� Bank� � ptcy� � n� tit� te� �� � � � � � End� w� ent� � � nd

C� nt� ib� ti� n� &� � led� e� Ca� dI support insolvency research and education!

Levels of Support:o Century Council Member $25,000 and Greater o Sustaining Member $2,000 - $4,999o Lifetime Member* $10,000 - $24,999 o Donor $100 - $1,999o Benefactor $5,000 - $9,999

New contributions or pledges at or above the Sustaining Member level will be recognized at the Annual Spring Meeting. Contributions may be paid in equal installments of up to five years. All gifts are cumulative to allow donors to advance their level of contribution. * Lifetime members receive a complimentary annual membership upon completed payment of the pledge.

All contributions are tax deductible. The ABI Endowment is a 501(c)(3) tax-exempt organization. ABI also accepts stock donations.

Donor Information List As ______________________________________________________________________(as you want it to appear in ABI acknowledgement materials)

Billing InformationContact Name/Firm ____________________________________________________________ Address_____________________________________City____________________State_____Zip

My total pledge is $ __________________Contribution solicited by _______________________

Payment Options o Check payable to American Bankruptcy Institute Endowment Fund enclosed.

US$ _________ o Bill my credit card o e o y o w

Acct. No._______________________________________ Exp. Date _____________________

Signature______________________________________________________________________

o Please bill me for my gift of US$ _______ o Installment pledge (annual): US$ ____________total pledge over _______ years

Send completed form with payment to: ABI Endowment Fund 44 Canal Center Plaza, Suite 400, Alexandria, VA 22314. If paying by credit card, FAX (703) 739-1060.

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