On June 7, 2002, Interbank Funding Corp and two wholly-owned subsidiaries, IBF Collateralized Finance Corporation and IBF VI-Secured Lending Corporation, filed voluntary petitions for reorganization under Chapter 11 of the US Bankruptcy Code. Subsequently, on November 4, 2002, IBF Premier Hotel Group, Inc filed a voluntary petition for reorganization under Chapter 11 of the Bankruptcy Code. The companies filed in the US Bankruptcy Court for the Southern District of New York. The cases are being jointly administered under lead case number 02-41590 and are assigned to the Honorable Burton R. Lifland.

On December 5, 2002, the District Court for the Southern District of New York, in a case captioned as Securities and Exchange Commission versus IBF Collateralized Finance Corporation, case number 02-cv-5713, appointed Arthur J. Steinberg as Investment Company Act trustee for IBF Collateralized Finance Corporation, IBF VI-Secured Lending Corporation and each of their subsidiaries. Pursuant to the District Court's order, the trustee assumed oversight responsibilities for IBF Collateralized Finance Corporation and IBF VI-Secured Lending Corporation.

On May 28, 2003, the ICA Trustee filed with the Bankruptcy Court a proposed Joint Liquidating Plan of Reorganization and a Disclosure Statement with respect to such Plan. On June 26, 2003, the Bankruptcy Court approved the Disclosure Statement as containing adequate information and issued an order approving procedures for the solicitation of acceptances of the proposed Plan. Pursuant to that order, the debtors mailed a customized ballot, together with a copy of the debtors' Disclosure Statement, proposed Chapter 11 Joint Liquidating Plan of Reorganization, Notice of Confirmation Hearing and Solicitation Procedures Order, to all claimants entitled to vote on the Plan. The results of that voting solicitation indicated an overwhelming acceptance by creditors of the Joint Liquidating Plan. On August 14, 2003, after a hearing before the Honorable Burton R. Lifland, to consider confirmation of the plan, the court entered an order confirming the ICA Trustee's Plan.

Documents filed with the Bankruptcy Court are available for inspection by accessing the Court's website at: www.nysb.uscourts.gov. Please contact PACER at: 1.800.676.6856 to get the internet password required to gain access to the documents. You will not be able to obtain copies of the documents by calling the Court directly.

Please note neither the Clerk of the Bankruptcy Court nor the Claims and Balloting Agent, The Garden City Group Inc., is permitted to give legal advice.