Centerbridge in Consumer Finance Company Acquisition

July 24, 2007

Cleary Gottlieb is representing Centerbridge Capital Partners, L.P. in its purchase of Green Tree Servicing, a specialty consumer finance company, from funds managed by Fortress Investment Group and Cerberus Capital Management affiliates. The closing is expected in the third quarter of 2007 and is subject to customary regulatory approvals and closing conditions.

Centerbridge is a $3.2 billion multi-strategy private investment fund dedicated to partnering with world-class management teams to invest across multiple stages of a company’s life cycle. Centerbridge uses various strategies to help companies achieve their operating and financial objectives. Centerbridge’s limited partners include many of the world’s most prominent financial institutions, university endowments, pension funds, and charitable trusts.

Green Tree is a specialty consumer finance company that serves the mortgage and manufactured housing markets. The company is one of the largest servicing platforms in the United States with over 700,000 accounts. Green Tree services approximately $20 billion in assets, including the nation’s largest portfolio of manufactured housing loans. The company also services home equity, home improvement and consumer installment loans and offers insurance products through its insurance agency affiliate.