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					CARLAT CAPITAL GROUP




     CarLat Capital Group, LLC
        Caribbean and Latin American Financial Services




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      CARLAT CAPITAL GROUP




This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.
These statements are not guarantees of future performance. These forward-looking statements are based on assumptions which
are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. The use of words such as
"anticipates," "estimates," "expects," "intends," "plans" and "believes," among others, generally identify forward-looking statements.
However, these words are not the exclusive means of identifying such statements. In addition, any statements that refer to
expectations, projections or other characterizations of future events or circumstances are forward-looking statements and may
include statements relating to future revenues, expenses, margins, profitability, net income, earnings per share and other measures
of results of operation and the prospects for future growth of CarLat Capital Group, LLC’s (“CarLat”) business.
 Actual results and the timing and outcome of events may differ materially from those expressed or implied in the forward-looking
statements for a variety of reasons, including, among others: CarLat’s ability to effectively update, automate and integrate disparate
financial and accounting systems and approaches among its brands and businesses; the accuracy, integrity, security and
redundancy of systems, including financial and accounting systems, and networks of CarLat’s; reliance on newly implemented
systems supporting our financial planning and projections; adverse changes in senior management; the rate of growth of the Internet
and changes in global economic conditions; consumer spending, the competitive environment; the finance industry and broadband
access; world events (including adverse weather, health risks and terrorism); the rate of online migration in the various geographies
and markets in which CarLat operates, fluctuations in foreign exchange rates; possible one-time charges resulting from, among other
events, integration and process review activities, platform migration and shared services efforts; failure to realize cost efficiencies;
the successful completion of pending corporate transactions and the integration of current and acquired businesses. Except as
required by law, CarLat undertakes no obligation to update any forward-looking or other statements in this press release, whether as
a result of new information, future events or otherwise.
CARLAT CAPITAL GROUP                                 Contents




          Mission statement
          Lease Basics
          Risks - What are the inherent risks in Leasing
          Accounting - GAAP treatment
          Tax Considerations
          Biographies




                                                                3
CARLAT CAPITAL GROUP                Mission Statement




 CarLat Capital Group, LLC enables business growth by
 structuring customized financing and leasing solutions.




                                                           4
CARLAT CAPITAL GROUP                                 Who We Are


•   Global Firm with offices in Santo Domingo, Miami and New York
•   Established by senior equipment leasing executives, with a
    combined 118 years of experience.
            – George McCanless
            – Pedro Wasmer
            – Jean Augustin

•   Our experience gives us the flexibility to offer our clients a variety
    of operating leases, capital leases and purchase-leaseback plans
    tailored to each specific need.




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CARLAT CAPITAL GROUP                    Lease Basics


   Types of Equipment Leasing Companies
      Captive
      Independent
      Bank Subsidiary
   Parties to a lease transaction
      Lessor
      Lessee
      Equipment Vendor and maintenance provider
   Lease versus buy analysis
                                                       6
                                        Lease Basics, cont’d
CARLAT CAPITAL GROUP




      Benefits of leasing
            100% Financing
            Flexible Structures
            Multiple end of term options
            Developing companies invest in growth
      Equipment sourcing and supply
          New or Certified pre-owned
      Asset tracking
          Reporting by location, business unit or project
      Remedies upon default
                                                             7
  CARLAT CAPITAL GROUP                               Process

 Phase 1: Communicate with Clients - WE LISTEN
 Phase 2: Customized proposal
    Primary Recommendation
    Alternative solution
    Final Proposal to include: Type of lease, term, payment
     period and LRF or periodic payment amounts
 Phase 3: Upon final approval by all parties, CarLat
  issues Purchase order to vendor supplying
  equipment


                                                               8
CARLAT CAPITAL GROUP               Considerations



      Type and Manufacturer of Equipment
      Upgradeable
      Projected use by Client (Mission Critical)
      Term of use
      Size
      Credit Rating of Client


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CARLAT CAPITAL GROUP        The CarLat Difference




   Innovation
   Customization                     Operational
   Flexibility                       and
   Cost effectiveness                Financial
                                      Perspective
   Client Focus
   Win – Win Partnership


                                                    10
CARLAT CAPITAL GROUP
                                                              Risks


      Credit Risk
         Investment grade and market leaders
      Interest-Rate Risk
         Fixed rate plus Index
      Liquidity Risk
         Establishment of indigenous secondary market
      Prepayment Risk
         No right to prepay or prepay at Make whole provision
      Misuse or abnormal wear and tear
         Lessee responsible for Maintenance
      Residual valuation and remarketing Risk

                                                                  11
        Partnered with leading local dealers and vendors to
CARLAT CAPITAL GROUP
                            Discounting of Rentals




    Loan and Security Agreement
    Assignment of Collateral
    Notice and Acknowledgement of Assignment
    CarLat to send invoices 45 days prior to due
     date


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CARLAT CAPITAL GROUP                    Discounting of Rentals


                                    Purchase Order
  Equip’t Vendor &                                                          Lessee
   Maint. Provider
                                    Deliver and Install




                                                            $ Mo. Rentals
      $ on Delivery




                                                                             Assignment
                            $ PV of Rentals
   CarLat
  “Lessor”            Loan & Security Agreement           Lender
                       Assignment of Collateral

     Maintenance $
     Use Tax $                                                                            13
CARLAT CAPITAL GROUP   Sample Lease Equipment




                                           14
CARLAT CAPITAL GROUP             Benefits to Lessee




             Manage Net Capital
             Preserve Cash
             100% Financing
             100% of Rental payments are tax
              deductible



                                                  15
CARLAT CAPITAL GROUP                           GAAP Accounting



      Off balance sheet financing
      Operating lease
      Capital lease
      Footnote to Financial statements
      Impact on covenants of on balance sheet
       loans/Lines

  Potential lessees should consult their individual tax advisors and legal
  advisors to determine if the above benefits their specific situation
                                                                             16
CARLAT CAPITAL GROUP                        Tax Considerations




    Depreciation
    Tax rates
    Conditional sale versus lease impact on
     taxes


  Potential lessees should consult their individual tax accounts and
  legal advisors to determine if the above benefits their specific
  situation                                                            17
 CARLAT CAPITAL GROUP                                                 Biographies


Jean E. Augustin
Mr. Augustin is a senior executive with 28 years experience in Asset Based and Structured
Finance. He is currently a Director and Head of US RMBS Operations for Societe Generale
Corporate and Investment Banking. Prior to joining SGCIB, he worked at Morgan Stanley, Credit
Suisse, PaineWebber/UBS, and several boutique investment banks. He is a graduate of Pace
University with a Bachelors degree in Accounting and Finance.


George McCanless
Mr. McCanless is a senior executive and entrepreneur with 52 years of experience in asset based
lending and equipment leasing. He recently worked as a consultant and arranger of specialized
equipment financing programs. His leasing experience ranges from high tech to aircraft, medical
and telecommunications equipment. He is a former board member of the Computer Dealers and
Lessors Association (CDLA).




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  CARLAT CAPITAL GROUP                                                  Biographies


Pedro Wasmer
Mr. Wasmer is a senior executive, founder and former CEO/Chairman of Somerset Capital Group.
He has been in the asset based and equipment finance industry for 38 years. He is a graduate of
the University of Maryland. He is also on the board of Trustees of the University of Maryland .



Arsak “Jack” Aru
Mr. Aru is currently the Chief Administrative Officer of CarLat Capital Group, LLC. He is also a
Director of Fund Accounting and Operations of Maplewood Partners LP, a $135 million private
equity firm focused on the acquisition of manufacturing, distribution and consumer products
companies.
He has broad experience in the financial services and private equity industries for 32 years. He
was an entrepreneur in the automotive services business. He also founded high frequency a
labels and embossing business with operations in the Dominican Republic, USA and Turkey. He is
a graduate of Saint Thomas University with a Bachelors degree in Political Science. He also
obtained a Masters Degree in Accounting and Taxation from Montclair College.


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  CARLAT CAPITAL GROUP                                                        Biographies

Ronald Augustin
Ronald Augustin is currently the Chief Financial Officer of CarLat Capital Group, LLC. Mr. Augustin
brings 28 years of experience in senior financial reporting roles, primarily for private equity and
hedge funds. Additionally, Mr. Augustin has an extensive background in corporate accounting and
due diligence. Prior to joining CarLat, Mr. Augustin was the Chief Financial Officer at the following
firms: Sunbelt, MapleWood Partners LP and Askin Capital. Mr. Augustin managed all aspects of
finance, accounting and tax reporting. He maintained relationships with banks, outside
accountants and attorneys. Mr. Augustin served as an interim CFO or member of the post
acquisition team for several portfolio companies. Prior to Askin, he worked for JP Morgan
Securities, Drexel Burnham and Dean Witter. At JP Morgan Securities, he was a Vice President in
the Mortgage Backed Securities and Structured Finance Groups. Mr. Augustin managed the
accounting for Mortgage Backed Securities, Mortgage Related subsidiaries and Asset Backed
Securities. Mr. Augustin was instrumental in the development, design and implementation of a
new Mortgage Backed Securities system. At Drexel Burnham Lambert, he was a senior Auditor
where he planned, performed and supervised financial and operational reviews. Mr. Augustin
participated in residential and commercial mortgage whole loan due diligence efforts. He is a
graduate of Pace University in New York with a BBA in Accounting and Finance.


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  CARLAT CAPITAL GROUP                                                     Biographies


Robert J. Reale
Prior to joining CarLat, Mr. Reale was a partner of Maplewood Partners LLP, a Miami-
based private equity fund specializing in small to mid-sized companies. Industry expertise
includes, high tech manufacturing, computer hardware and services, auto parts
distribution and restaurants. Mr. Reale is a former president and CEO of JWP Energy &
Environment, Inc., Montenay International Corp. and Invatech Corporation, companies
ranging in size from $120 million to $500 million in sales. These companies specialized in
the design, construction, operation and maintenance of environmental processing, power
generation plants and remediation projects. Prior to his CEO roles, Mr. Reale worked for
15 years at International Paper Co. where he was VP & Group Executive, of the Kraft Paper
Business, a $900 million business unit located in NYC. He has served on the boards of over
12 companies
Mr. Reale has an MS degree on Management Science from The Polythechnic Institute of
Brooklyn, a BS degree in Engineering from Hofstra University and completed the Executive
MBA program at the Amos Tuck School of Business at Dartmouth College.




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