Through circumstances, definitely not by choice, FDIC has become a major player in the oil and gas business. At year end we had approximately $2.3 billion dol1ars book value of Energy loans and owned assets under liquidation nationwide. Energy assets are approximately 35% of our total assets in liquidation, a major investment and one we would like to reduce. The purpose of my presentation today is to provide you with the information necessary to purchase our Energy assets or any other FDIC asset you may be interested in.

I represent the Division of Liquidation of FDIC. As the name implies, we are responsible for converting the Corporation's assets into cash. Specifically, our stated mission is to "…Achieve the highest possible level of collection on assets at the earliest practical time in the most cost efficient manner. In doing so, it seeks to maximize the return of funds to the FDIC as well as other conditions of the failed banks."

One of our primary vehicles to convert to cash is our Asset Marketing Program. We are very active nationwide in selling loans, owned assets, and portfolios of assets to investors on a private treaty, sealed bid, and public auction basis.

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