Oakwood adds to team

Amanda Jarvis

May 31, 2006

Laurence will be responsible for financial management of all
aspects of Oakwood Group’s business, including managing its asset investment activities and on-going financial management of its portfolio, and structuring and managing transactions and securitizations.

Laurence joins Oakwood following six years at Nikko Principal Investments, where he was primarily focused on the firm’s financial asset investment activities. He has broad experience
of structuring and managing a number of equity investment transactions including a wide range of leverage structures such as UK Residential Mortgage-Backed Securities (RMBS), whole business securitization, and term loan facilities. He has a strong background in specialty finance and while at Nikko was involved in the on-going management and realization of the firm’s investment in Mortgages plc which was sold to Merrill Lynch in October 2004.

Mike Culhane, chief executive of Oakwood Group, commented: “We are delighted that Laurence has agreed to join Oakwood. He brings substantial direct knowledge of managing international investment portfolios and his appointment significantly strengthens our team.

“Oakwood already has a strong portfolio of businesses and we continue to identify new opportunities. Laurence’s broad experience, particularly in the specialty finance sector, is a great fit with Oakwood’s strategy.”

Laurence Morey added: “I am pleased to be joining an exciting and dynamic company and I look forward to my role in supporting Oakwood’s expansion into new sectors and international markets.”

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