EuroCatalyst

EUROCATALYST 2003 PROGRAM: FOLLOWING THE MORTGAGE VALUE CHAIN

Each day's sessions for The EuroCatalyst 2003 program are designed to follow the natural progress of the mortgage value chain from origination and distribution to underwriting, risk management and administration to funding, including covered bonds, emerging frameworks for structured covered bonds and mortgage-backed securities.

DIRECTION: AN INDEPENDENT, PEER-TO-PEER THINK-TANK FOCUSED ON THE COMMERCIAL REALITIES OF EUROPEAN MORTGAGE MARKETS

The EuroCatalyst event is a highly unique pan-European "think tank" produced by and for professionals working in the European mortgage credit sector. Neutral and independent, it provides a year-round, peer-to-peer "insider's view" of the most important issues facing Europe's mortgage lenders, issuers and investors that culminates in the three days of the event itself. With interactive discussion on the commercial realities of Europe's national mortgage markets, the goal is to address the most pressing issues, identify solutions, drive the markets toward best products and practices and ultimately accelerate the development of a pan-European mortgage industry which can compete effectively in the global capital markets. Through the annual event, national market "road shows", research and writing, EuroCatalyst seeks to reposition the role and prominence of the European mortgage credit sector within financial services, based on the unique characteristics, importance and combined economic value of Europe's single largest asset class. Meanwhile, we strive to bring together a global investor base to focus on the growth, strength and stability of investment in Europe's rich and diverse fixed-income mortgage investments.

PARTICIPANTS: LENDERS, ISSUERS AND INVESTORS

The event is for lenders, issuers and investors in European covered bonds, structured covered bonds and mortgage-backed securities, and the trade organizations, companies and individuals that drive and support them. Individuals or companies requesting invitations are interviewed to determine whether the event will suit their ultimate goals and interests.

PROGRAM AND STAGING FORMAT: HIGH-TECH INTERACTIVITY

BOARD ROOM AND REGIONAL MARKET SESSIONS: Program activities are divided into Board Room and Regional Market sessions. Board Room sessions cover pan-European issues across the full spectrum of the mortgage value chain, while Regional Market sessions focus on developments within the regional markets.

CONFERENCE CHAIRMEN: Each day features a morning and afternoon Chairman who introduces the context for each session, polls the audience for interactive dialogue and provides time-keeping and continuity from session to session. Panel discussions are led by a main speaker who also keeps the dialogue going between fellow panelists and the audience.

STAGING FORMAT: The sets are designed in a casual, "talk-show" format style for further exploration and interviews on each topic. Each speaker provides a short presentation on the key points of topic from the podium and then joins other panelists onstage to participate in a more in-depth and interactive discussion between other panelists and the audience.

NETWORKING AND ELECTRONIC INTERACTIVITY: Delegates are seated cabaret-style, eight to a table. On each table is a pressure-sensitive screen that allows the participants to respond to topics. The electronic interactivity allows those on stage to poll the audience throughout the discuss or to respond immediately to audience questions. Cabaret-style seating also allows for more open and active discussion and networking among delegates between sessions.

CHAMPAGNE CHALLENGE (end of each day's session): At the end of each day's session, the audience votes to choose four panelists (from a list of 10 potential panelists, also in the audience) to address a mystery topic. Not only does the audience select the speakers, but also from which side of the argument each panelist will be arguing. As panelists plan their imprompu strategy, delegates are served champagne as a "warm up" for the ensuing debate.

THE CLASS OF 2003: THE EUROCATALYST YEARBOOK (Given to all delegates and speakers)
Sets a new standard in networking with benefits that last far beyond the event itself. The yearbook contains the career histories, current positions and interests of all conference participants who can be contacted before, during and after the event.

EVENT SPONSORSHIP: SHARED GOALS, VALUES AND STANDARDS

Sponsorship of the annual EuroCatalyst event is a year-round endeavor leading up to the three days of the event. Invitations for sponsorship are issued from January to August. EuroCatalyst performs rigorous due diligence on all event sponsors and partners to ensure that they agree with shared event principles, ethics and goals. This is to ensure all participants that those who are financially supporting the event hold themselves to the highest standards in their products and services, and pursue a larger vision and dedication to Europe's mortgage markets.

SPECIAL EVENTS: CREATING OPPORTUNITIES THROUGH RELATIONSHIPS

EuroCatalyst is dedicated to building relationships among and between all event participants. To accomplish that, we speak to every single person who participates before and after the event to determine their goals for attending and the outcome from it. All social events are designed to maximise participants' ability to create new business relationships, solidify existing relationships and discuss each day's events in a fun, informal and relaxed atmosphere.

OPENING COCKTAIL PARTY (OCTOBER 21): This year we feature a special event on each night. On Tuesday, 21 October there will be a cocktail party at the Four Seasons hotel beginning at 20:00.

DINING AT THE DOCKS (OCTOBER 22): Participants will be taken to the banks of the Tagus River on "the docks" for an evening dine-around at seven exquisite restaurants on the waterfront. After dinner everyone can mingle among the bars lining the harbor-front for outdoor drinks and dancing!

A SPECIAL EVENING WITH FRIENDS (October 23): The main featured event occurs on Thursday evening. EuroCatalyst 2003 participants are treated to an unforgettable night of networking and making new friends with "The EuroCatalyst Awards: A Special Evening with Friends". Following an outdoor barbecue on the grounds of Castelo de Saõ Jorge (with breathtaking views of the city of Lisbon and the Tagus River) everyone will go "backstage" for a private concert with Grammy Award winning jazz guitarist Larry Carlton. Carlton is the favorite headliner at Europe's largest jazz festivals including Montreux and the North Sea Jazz festival. His 9-piece band features two other Grammy-award winners as well as his own special guest, Michele Pillar Carlton, herself a Grammy winner. The EuroCatalyst awards will be given out by EuroCatalyst partners, supporting organizations, and the artists themselves in an evening that you will never forget.