Citi Investment Banking Pitch Book

Balemm, LTM) Repurchase of Entire Float - Papa Finances (Credit Impact) ($ in lons, except per share) 20000 17,500 15.000 12,500 10,000 7,500 5,000 2008 17,500 15,000 1 12,500 10,000 7,500 500 36 1 25 25 10% Premium 888+ IT ZUME 888 IT 2009E 888- 888- BB+ IT 2002 IT WHE 200 Lea-Adju cled Total Debt/EBITDA (1) 30% Premium 888 55 88 2011 UHE BB+ 55 IT ACCE 88 88- Lea-Adju ched Total Debt'EEIT DA (0) 7 7 B+ Bals Gmm, LTM) 20,000 17,500 A 888+ M 15.000 12,500 10,000 7,500 5,000 20,000 17 500 15,000 1 12,500 10,000 7,500 5,000 25 A 20% Premium 888 888 IT 200 Din 201 888- If 2004E 25 888 IN 200 888-2017 UTHE 40 i 10.HE S5 Lea-Adju led Total Debt/EBIT DA (1) 40% Premium +88 55 ITAL 88 88- Lea-Adju led Total Debt/EEIT DA (0) 7 88- DRAFT 29-Jun-04 7 Citigroup

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