Released on: September 11, 2008, 2:55 am

Press Release Author: Lisa Hardcastle

Industry: Financial

Press Release Summary: Private Equity Placement are thought to have sold holdings of
GSE stock for “undisclosed” profit

Press Release Body: Private Equity Placement has apparently sold stock holdings in
beleaguered mortgage companies Freddie Mac and Fannie and, in the process, realizing
profits for investors. The European-based investment management firm is thought to
have advised clients of the disposal via a profits note. An unnamed source at
Private Equity Placement would say only that strategy managers were “pleased” with
returns and that the firm will not engage in further trades in the stocks.

Private Equity Placement are rumored to believe that the mortgage behemoths are no
longer viable concerns and a government bailout will effectively wipe out
shareholders. Ironically, the sweeping powers granted to the US Treasury by Congress
last month were meant to boost confidence in the future of the companies which,
between them, own or guarantee $6 trillion of US mortgage debt.

Private Equity Placement source said “ it would appear that even the SEC’s ban on
naked short-selling of Fannie and Freddie stock combined with the good intentions of
an explicit government guarantee won’t be able to save them. Their stock is down 90%
in a year and a lot of investors are going to lose money.”


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