<table><tr><th>From:</th><th>Institutional Investor Daily</th></tr><tr><td>Sent:
To:</td><td>Friday, July 20, 2012 3:29 PM
jeeproject@yahoo.com</td></tr><tr><td>Subject:</td><td>What the Libor Scandal Really Means</td></tr></table>

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<http://ems.euromoney.com/ems/r.asp?cIndex=688545&=Index=1274943832&hurl=http%3A//www.institutionalinvestor.com> =!-- Newsletter Title -->Institutional Investor Daily Friday,&=bsp;July 20, 2012 <=TBODY> <http://=projectsline.com/iimag/images/x.gif> </=R> On InstitutionalInvestor.com today: <http://projectsline.com/iimag/images/x.gif> =

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href="http://ems.=uromoney.com/ems/r.asp?cIndex=688545&mIndex=1274943832&hurl=htt=%3A//www.institutionali
nvestor.com/Article/3063818/What-the-Libor-Scand=I-Really-Means.html">What the Libor Scandal Really Means

Latest allegations of =alfeasance by the banking industry could be the most serious yet.

Read the full story at institutionalinvestor.com.</=>: <http://ems.eurom=ney.com/ems/r.asp?cIndex=688545&mIndex=1274943832&hurl=http%3A//www.institutionalinves
tor.com/Article/3063818/What-the-Libor-Scandal-Re=Ily-Means.html>
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href="http://ems.=uromoney.com/ems/r.asp?cIndex=688545&mIndex=1274943832&hurl=htt=%3A//www.institutionali
nvestor.com/Article/3063806/Solus-Takes-Aim-at-M=doff-Estate.html">Solus Takes Aim at Madoff Estate

New distressed asset f=nd offered by firm headed by Christopher Pucillo is pursuing creditor claim= against Lehman and Nextel as well as the estate of Bernard Madoff.

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href="http://ems.eur=money.com/ems/r.asp?cIndex=688545&mIndex=1274943832&hurl=http%3=://www.institutionali
nvestor.com/Article/3063806/Solus-Takes-Aim-at-Mado=f-Estate.html">Read the full story at institutionalinvestor.com.
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href="http://ems.=uromoney.com/ems/r.asp?cIndex=688545&mIndex=1274943832&hurl=htt=%3A//www.institutionali
nvestor.com/Article/3063879/Are-Investors-in-Gil=s-Acting-Rationally.html">Are Investors in Gilts Acting
Rationally?<![endif]>

Low U.K. interest =ates are hardly the surprise one might think they are, given the state of t=e economy and the Bank of England's continuing efforts to revive it.

## Read the full story at institutionalinvestor.=om.

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