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Press Releases DEBTX TO SELL $788 MILLION IN LOANSParticipations From Former Silverton Bank To Be Sold Oct. 20, 2009 BOSTON, September 10, 2009 DebtX, the largest marketplace for loans, today announced that it will sell $788 million in loan participations in FDIC receivership from the failed Silverton Bank of Georgia. DebtX is selling Commercial Real Estate (CRE) and Commercial & Industrial (C&I) loan participations. The loans are performing and non-performing, with collateral and assets in 27 states, including concentrations in Georgia, Alabama, Florida, Ohio and Washington. The largest loan in the portfolio is a $20.7 million participation for residential lots in Las Vegas. More than 140 of the participations are less than $1 million. Each of the 344 loan participations in the portfolio will be offered on an individual basis. Bids are due by 1 p.m. Eastern on Tuesday, Oct. 20, 2009 and due diligence materials are now available at www.debtx.com. In addition to the Silverton transaction, DebtX currently has more than $655 million in market. “The Silverton sale is generating strong investor interest, particularly among community banks, which have traditionally been the most active buyers of loan participations,” said DebtX CEO Kingsley Greenland. “The Silverton transaction offers a broad range of high-quality product for investors with different investment and risk objectives.” Institutions interested in the portfolio can contact David LeBlanc at 617.531.3422. About DebtX Media Contact: |