Pali Capital Expands High Yield Effort in New York

Adding Expertise in Loan Trading & Distressed Securities

NEW YORK, June 29 /PRNewswire/ -- Pali Capital, Inc., an independent global
financial services firm announced today the continued expansion of its High
Yield Sales and Trading team with the hiring of Matt Goldfarb and Peter Levine
from Tradition (North America) Inc., and William Tillinghast from SMH Capital
in New York.

"Pali High Yield is very excited about these additions to the team," said
Chuck Howard, Managing Director and Head of High Yield at Pali. "Matt and
Peter immediately place our firm in the leveraged loan sales and trading
business, further rounding out Pali's product set." He added, "Bill
Tillinghast brings deep industry experience in high yield and distressed
sales, and we expect him to make a significant contribution to our clients."

While at Tradition (North America) Inc., Matt Goldfarb was co-manager of the
loan trading desk that handled institutional accounts including hedge funds,
mutual funds, CLOs, insurance companies and private equity firms. Prior to
Tradition, Mr. Goldfarb was a Director at The Blackstone Group/GSO Capital
Partners where he was a senior member of that firm's credit team. Mr.
Goldfarb came to Blackstone from Pirate Capital, LLC, and prior to that he was
Corporate Counsel at Icahn Associates Corp. where he was involved with
transactional matters related to the firm's distressed investments in the
telecommunications, gaming, textiles and energy sectors. Mr. Goldfarb earned
his BA from the University of Wisconsin and his JD from Fordham Law School.

Peter Levine was most recently an Assistant Trader and Loan Closer at
Tradition (North America) Inc., where he gained extensive experience ensuring
the closing process for levered loan trades. While at Tradition, Mr. Levine
brokered both high yield bonds and gained exposure to distressed and par bank
debt contracts and credit agreements. Mr. Levine came to Tradition from LM
Isis Capital Partners where he was a trading associate handling CDS, LCDS,
various indices, and bank debt amongst other products. Prior to LM Isis
Capital Partners, Mr. Levine worked as a production assistant at ESPN, and he
began his career as an English teacher working for the Nova Corp. in Tokyo,
Japan. Mr. Levine earned his BA from Skidmore College.

William Tillinghast was most recently a member of the Investment Banking and
Private Capital Group at SMH Capital. Mr. Tillinghast brings to Pali
knowledge of private placements focusing on PIPEs, debt, private equity and
venture capital. Mr. Tillinghast came to SMH Capital from DebtTraders, Inc.
where he was a salesman focused on selling a variety of distressed securities
to institutional investors. Prior to that, Mr. Tillinghast was a managing
director at Schultze Asset Management, LLC where he was marketing a distressed
hedge fund, and prior to Schultze, Mr. Tillinghast was a senior salesman at
CIBC Oppenheimer where he focused on both emerging market debt as well as high
yield and distressed securities. Mr. Tillinghast earned his BS from Lehigh
University and his MBA from Columbia Business School.

About Pali Capital
Pali Capital, Inc., is the U.S.-based division of Pali Holdings, Inc., an
independent, global financial services firm and investment bank servicing
institutional clients since 1995. Pali offers equity, fixed income, and
derivatives sales and trading, equity research, structured finance, and
corporate finance and advisory services. The firm maintains primary offices
in New York and London, with additional offices in San Francisco, Chicago,
Minneapolis, Boston, Summit, NJ and Edinburgh, Scotland. Please visit
www.pali.com for additional information.

SOURCE Pali Capital, Inc.

Russell Sherman for Pali Capital, Inc., +1-212-259-5120