2011 Corporate OverviewBibby Financial Services North America

Background - StructureParent Company - Bibby Line Group Ltd

Founded 1807 in Liverpool, England

Three Primary DivisionsBibby Line Ltd, Marine

Bibby Distribution Ltd

Bibby Financial Services Ltd

Recently acquiredMHL Support, Colney Woodland, Costcutter, Tay Distribution Group

Bibby Line Ltd - Marine

OffshoreFloating and mobile production, operations and maintenance, subsea construction, inspection, repair and maintenance (IRM)

ShippingChemical carriers

CoastelsPurpose-built floating accommodation

Bibby Distribution Ltd

Employ around 2,500 people at more than 70 locations in the UK

Operate with over a thousand road-based assets and several million square feet of warehouse space

Supply chain management, Warehousing, Distribution management and Transportation operation

Bibby Financial Services Ltd

Commenced in the United Kingdom

Now with businesses in United States, Canada, Australia, Ireland, India, France, Poland, Czech Republic, Germany, Slovakia and Hong Kong

Primarily factoring, products extend to purchase order (trade) finance, asset based lending and leasing

Structure - North AmericaParent - Bibby Financial Services (Holdings), Inc.

Operating CompaniesCanada: Mississauga, ON - Bibby Financial Services (Canada) Inc.

Midwest and East: Chicago, IL - Bibby Financial Services (Midwest), Inc.

West: Los Angeles, CA - Bibby Financial Services (CA), Inc.

Transportation: Nashville, TN & Norcross, GA - Bibby Transportation Finance, Inc. / Freightcheck

International Trade Finance: Atlanta, GA - Bibby International Trade Finance

Staffing Finance: Chicago, IL - Bibby Staffing Finance

Client Service and Sales Centers: Phoenix, Sacramento and West Palm Beach

Cultural Themes - The Bibby WayRegional Autonomy

Ownership at the Lowest Level

Brand Awareness

Customer Focus

Global Business for Local Businesses

Regional AutonomyEach Factoring Entity has:

CEO - Head of Business

EVP, Operations - Head of Operations

Underwriting Team

Client Service Team

New Business Team

Business Plan

Regional Style

Financial StrengthWorldwide borrowing capacity exceeds $1 Billion

Private held but operated in a manner of a public/traded company with transparency, available reports

Bibby Financial Services Ltd Annual Report

Excellent financial performance year after year since inception

Within 3 years in the US, having three offices and increasing client base each year

Within 10 years in the UK, gaining double digit market share, and outstripping market growth in every year

ProductsCore Product

Recourse Factoring

Ancillary ProductsPO FinanceNon Recourse Factoring

Enhanced ProductsStaffing FactoringTransportation FactoringExport / Import Factoring

Recourse FactoringPricing basis is flexible either Discount (x% for x days) or Availability based (one time fee plus US Prime or LIBOR plus fee on monies used)

Facilities can be up to $10 million in house, although more comfortable with up to $5 million for new facilities

Recourse at 90 days

Canadian receivables treated as domestic for US based facilities (and conversely US receivables are treated as domestic for Canadian based facilities)

Purchase Order FinanceOnly US factor to have dedicated, specialist PO Finance division handling import and export trade under one roof.

Direct Funding, Letters of Credits, Standby Letters of Credit

Require a factoring facility (our exit methodology)

Not for raw materials

Usually do not use PO Finance for start up companies

Can be used on one off basis by clients, no ongoing commitments

Staffing FinanceReceivables Funding

Full Payroll Management

Full Payroll Reporting (including Tax Reports)

Invoice Preparation

Discounted Insurance

Transportation FinanceTwo dedicated business units with staff who only service trucking clients

Fuel card with ability to directly fund and ATM access and check writing ability

Structured flexible funding programs catering to the smallest owner operator firm up to fleet sized businesses

Compliance services - permits, fuel tax reporting, discounted insurance and fuel programs

Export FactoringMember of IFG - formalized process for ‘two factor’ import / export factoring

Ex-Im Bank approved lender

Have enhanced abilities to handle Export transactions where we have a physical overseas presence

We normally look to credit insure export receivables, therefore is a need for credit worthy debtors

Bibby International - 14 language skills

Sectors - FundamentalsBusinesses selling to business on credit terms

Receivable is for goods or services rendered fully at the time of billing

Sell and Forget is strongly preferred:Warranty issuesConsignment salesPerformance contracts

Business terms of up to 60 days

Ability to verify receivables

Ability to secure primary security interest in the receivables and proceeds of industry (willing to sub-ordinate to other lenders on other assets).

Typical advance rate is 85% of receivables although 90% more common in more straightforward industries. Transportation and Staffing are more typically 90% advance rates with Trucking going up to 95% advance rates.

Sectors – Fundamentals, Cont.Transaction Size-Funds advanced to clients from start up to $10,000,000. Normally equates to minimum monthly purchases of $15k up to $5m per month depending on business days outstanding.

Application-Located on website, CD. We require a most recent accounts receivable aging report, sample invoice, Certificate of incorporation or dba filing.

Proposal Time-Same day with all necessary evaluation documents.

Due Diligence-Varies. Typically to cover our costs. If there are multiple trading styles or complicated ownership structures etc this may impact these costs.

Initial Funding Fees-5 to 7 days upon receipt of completed formal documents, sometimes sooner with Fast Track.

Time Frame-Typically 24 hours after verification.

Reporting-Clients have 24 hour real time online access to account information.

Reserve Release-Daily, subject to availability and account standing.

Sectors - Likes (examples)Staffing

Trucking

Manufacturing (all types where not sold on consignment)

Distributors

Security Services

Business support services such as consultancy, advice, etc.

Engineering for example oil support services

Printers

Wholesalers subject to appropriate dilution

Sectors - Dislikes (examples)Construction (contractual receivables)

Progress billing

Third Party Medical Receivables

Legal claims

Home building sector (currently stressed)

Bibby has developed a “What Can We Do Mentality”. Additional collateral can mean we can consider some clients who may be “Outside of the Box”

Contact information• Ian Varley

• ivarley@bibbyusa.com

• Toll Free: 877 BIBBY IN

• Bibby International Trade Finance, Inc.

• 250 Chastain Road, Ste 150

• Kennesaw, GA 30144, USA