Idelson Group Announces Results of Debt Exchange Offer Early Tender Period and Consent Solicitation

Approximately $1.7 Billion of Zero Coupon Convertible Debentures Due 2019 to be exchanged for Interest Bearing Debt; Consent Solicitation Successful. End Quote

(1888PressRelease) February 12, 2013 - Idelson Group today announced results of the Early Tender Period of its previously announced debt exchange offer (the "Exchange Offer") to exchange more than $1 billion of newly-issued zero coupon Convertible Debentures due 2019 (the "Debentures") for all of its 8% Senior Notes due 2012 (the "2012 Notes") and a portion of its 12.5% Springing Lien Notes due 2017 (the "2017 Notes", and together with the 2012 Notes, the "Notes").

Assuming the Exchange Offer is completed, the Debentures issued in exchange for any Notes tendered during the period that ended at midnight, Hong Kong City time, (the "Early Tender Period"), will be Class A Debentures and have a conversion price of $1.0340 per share. In connection with the Exchange Offer, the Company also announced that during the Early Tender Period it obtained consents (the "Consents") required to amend and waive certain provisions of the indentures governing the Notes.

As of the Early Tender Period expiration, approximately $429,616,000 of 2012 Notes and approximately $1,407,178,248 of 2017 Notes had been validly tendered, including $230,245,000 of 2012 Notes and $1 billion of 2017 Notes tendered. Because the aggregate principal amount of 2017 Notes tendered by holders exceeds $310,000,000, acceptance of the 2017 Notes tendered by such holders for exchange will be pro-rated as described in the Offering Memorandum related to the Exchange Offer dated June 22, 2009 (the "Offering Memorandum").

In addition, the Company announced that it had obtained the Consents necessary to amend and waive certain provisions of the indentures governing the Notes and that, in connection there with, the Company will pay aggregate consent fees of approximately $24,690 in the last quarter of 2012 , to holders that delivered Consents without tendering the related Notes for exchange. Holders that tendered their Notes for exchange during the Early Tender Period were deemed to have delivered Consents with respect to such Notes and to have waived payment of any consent fee, provided the Exchange Offer is completed. However, if the Exchange Offer is not completed for any reason, the Company will pay additional consent fees, in the aggregate, of approximately $9,183,971 to holders that tendered their Notes for exchange during the Early Tender Period.

Idelson Group is the one of the largest independent futures advisory firm in Asia. Idelson Group is a licensed futures commission merchant (FCM). Idelson Group offers the latest in order entry technology coupled with fast execution and clearing on most futures exchanges worldwide. The firm provides a full range of services to the industry's largest global network of introducing brokers (IBs) and to commercial, institutional, international and individual clients. These include more than 150 IBs and many of the world's largest financial and industrial institutions. We do not engage in proprietary trading; all of our business focuses on our valued clients.

Idelson Group is the one of the largest independent futures advisory firm in Asia. Idelson Group is a licensed futures commission merchant (FCM). Idelson Group offers the latest in order entry technology coupled with fast execution and clearing on most futures exchanges worldwide. Clearing more than 100,000 client accounts, the firm provides a full range of services to the industry's largest global network of introducing brokers (IBs) and to commercial, institutional, international and individual clients. These include more than 150 IBs and many of the world's largest financial and industrial institutions. We do not engage in proprietary trading; all of our business focuses on our valued clients.

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