MADDIN, HAUSER, WARTELL, ROTH & HELLER, P.C. LAUNCHES NEW PRACTICE GROUP TO ADDRESS CURRENT ECONOMIC CLIMATE

SOUTHFIELD, Mich. - October 17, 2008 - As a result of the recently enacted Federal Emergency Economic Stabilization Act (EESA), Maddin, Hauser, Wartell, Roth & Heller, P.C. today announced the organization of a new Distressed Real Estate Asset Group, comprised of attorneys from its Real Estate, Litigation, and Mortgage Lending Groups. Firm Shareholders Martin Frenkel, John Jacobs, and Brian Nettleingham will lead the new practice group. Attorneys in this practice group, with assistance from other attorneys in the firm's related groups such as Real Estate, Litigation, and Banking, will represent and advise local and national lending institutions, private lenders, businesses, developers and investors in a variety of areas, including the EESA's scope and application, together with the currently unfolding regulatory scheme. The group will also provide legal counsel including litigation support for loan servicers; provide advice regarding regulations and laws governing lenders and servicers; provide due diligence with respect to mortgages and mortgage-related vehicles; provide advice regarding the purchase or sale of troubled assets under the EESA; and provide advice regarding entering into service contracts with the newly formed Office of Financial Stability or its contractors.

"The current state of the financial industry has dramatically affected our economy," said Frenkel. "Lenders, investors and businesses are in immediate need of counsel and our firm quickly reacted to the demand caused by extraordinary economic conditions."

For more than 35 years, Maddin Hauser has advised clients on real estate and banking matters, including transactions, regulatory matters, litigation and more recently, in matters regarding the impact of the EESA and other federal measures adopted to address the current economic climate. The firm represents mortgage companies in the origination, purchase, sale, and servicing of commercial and residential mortgage loans, and in the purchase and sale of mortgage companies and servicing portfolios.

Additionally, Maddin Hauser represents lenders, loan servicers and title insurance companies in finance related litigation. Maddin Hauser attorneys have played a central role in negotiating and drafting Michigan laws governing the licensing and regulation of mortgage companies and loan officers.

Southfield, Michigan-based Maddin, Hauser, Wartell, Roth & Heller P.C. is a multi-specialty law firm serving individuals, businesses and government entities.