Interstate Hotels & Resorts, Inc.

Hong Kong Securities Clearing Co., Ltd. provides securities clearing services. It offers integrated clearing, settlement, and depository and nominee activities to their participants. The company is headquartered in Hong Kong.

Thayer Lodging Group, based in Annapolis, Maryland, is a privately held hotel investment company that was formed in 1991 by Frederic V. Malek and Leland Pillsbury. Thayer has a lengthy and successful track record that spans multiple investment cycles. Since forming its first private equity fund in 1991, Thayer has completed 37 hotel investments with a total acquisition cost of approximately $1.8 billion. Thayer's realized and Substantially Realized investments, which represent 26 hotels and approximately 66% of Invested Equity, have cumulatively returned a Realized Multiple on Invested Equity of 2.6x.Thayer currently owns a portfolio of 15 hotels and 3,391 guest rooms.Thayer employs a disciplined approach to asset selection and targets investments with significant value-add opportunities. Thayer seeks to invest in hotels where the Company's expertise can add value through its time-tested strategies which include extensive renovation, market repositioning, expense reduction and rebranding as methods of improving net operating incomes.Thayer believes that the current economic environment, more stringent loan underwriting standards and reduced availability of debt financing combine to create a compelling investment opportunity to acquire hotels with significant value-add opportunities at favorable prices.Thayer is currently seeking acquisition opportunities for hotels that would benefit from the application of its repositioning strategies. Thayer will focus on North American hotel assets, with a continuing, primary emphasis on properties in the United States. The Company will target primarily full-service hotels, as it believes that the complex operating dynamics of these properties, together with a supply-demand imbalance, present substantial opportunities.The senior management team has substantial experience in the hotel investment, operations and finance disciplines and has served as senior officers in both public and private hotel companies.

KC's primary focus is on traditional middle-market manufacturing and service companies. Historically, the firm has not invested in companies that are in sectors such as technology and emerging telecommunications. They believe that established companies with recognized industrial or consumer brands and sizable market shares offer attractive platforms for long-term growth and profit optimization.The firm has also made selected investments in food, healthcare and service businesses where it perceived attractive opportunities. KC also seeks companies where an equity infusion can reduce excessive leverage that is inhibiting operations and limiting growth.