Alan H. Fishman Named Chairman of Meridian Capital Group

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. October 14, 2008

APRIL 17, 2007. Meridian Capital Group, one of the nation's largest mortgage brokerage firms, today named Alan H. Fishman Chairman. Mr. Fishman was previously President and COO of Sovereign Bank, the 16th largest banking institution in the United States.

Mr. Fishman will replace Howard J. Zuckerman, who will become Vice Chairman. Mr. Fishman will work with the company's management team to develop corporate strategy, look into providing financing options and broadening the firm's capabilities. Mr. Zuckerman will continue to oversee the company's corporate, legal and administrative operations.

"Alan's vast knowledge and experience couldn't be a better fit for Meridian as we look toward the future and our continued success," said Ralph Herzka, President and CEO of Meridian Capital Group. "Meridian Capital prides itself on offering clients a variety of personalized services, and with Alan's guidance we will look at ways to expand these services."

"I have worked with the Meridian Capital Group for several years on the other side of the business and watched it grow into a nationally recognized leader in real estate finance," said Alan H. Fishman. "I look forward to working with the partners to build a better company, and guiding it to the next level of success."

Prior to joining Sovereign Bank, Mr. Fishman was President and CEO of Independence Community Bank. During his leadership, Independence increased its loan volume and began a regular lending relationship with Meridian Capital Group. Sovereign Bancorp, the parent company of Sovereign Bank, acquired Independence Community Bank in June 2006.

Mr. Fishman has devoted his entire career to the financial services industry. He has been a private equity investor, focusing on financial services at Neuberger and Berman, Adler & Shaykin and at his own firm Columbia Financial Partners. In addition, he held senior executive positions at Chemical Bank, A.I.G. and ContiFinancial Corporation.

Mr. Fishman serves on the Board of Directors of KeySpan Corporation where he is Chairman of the Audit Committee. He serves as Chairman of the Board of Trustees of the Brooklyn Academy of Music, Chairman of the Brooklyn Navy Yard Development Corporation, Co-Chairman of the Downtown Brooklyn Partnership and serves on the Boards of several other not-for-profit and civic organizations.

Founded in 1991, Meridian Capital Group LLC is one of the nation's largest mortgage brokerages serving the multifamily and commercial real estate sectors. The company is based in New York City with additional offices in New Jersey, Pennsylvania, Maryland, Illinois, Florida, California, and Texas. Working with a wide variety of lenders, Meridian finances transactions ranging from $500,000 to more than $500 million for multifamily, co-op, office, retail, hotel, healthcare, self-storage, industrial, and construction properties. Nationally, Meridian reported more than 2,500 transactions in 2006, totaling over $17 billion.