Transactions

Valuation Advisory

Business Services

M&A Advisory

has been acquired by the Action Labor Employee Stock Ownership Plan

Advisor to the Buyer

Business Services

Valuation Advisory & Fairness Opinion

Business Services

M&A Advisory

has been acquired by the AE2S Employee Stock Ownership Plan

Advisor to the Buyer

Business Services

Consulting Services

Industrial Growth

Fairness Opinion

Consumer

M&A Advisory

has been acquired by

Advisor to the Seller

Consumer

Valuation Advisory

Business Services

Valuation Advisory

Industrial Growth

M&A Advisory

has been acquired by the Alton Steel Inc Employee Stock Ownership Plan

Advisor to the Buyer

Industrial Growth

M&A Advisory

has been acquired by

Advisor to the Seller

Healthcare

Valuation Advisory

Industrial Growth

Valuation Advisory & Fairness Opinion

Business Services

M&A Advisory

has been acquired by the A. Morton Thomas and Associates, Inc. Employee Stock Ownership Plan

Advisor to the Buyer

Business Services

Valuation Advisory

Construction & Real Estate

ESOP Advisory

has been acquired by the Arch Telecom Employee Stock Ownership Trust

Telecommunications

Recapitalization

has been recapitalized. Financing provided by

Telecommunications

Fairness Opinion

Industrial Growth

M&A Advisory

has been acquired by

Advisor to the Seller

Industrial Growth

ESOP Advisory

has been acquired by the Builder's Bloc Employee Stock Ownership Plan

Construction & Real Estate

Valuation Advisory & Fairness Opinion

Construction & Real Estate

M&A Advisory

has been acquired by the Butters Employee Stock Ownership Plan

Advisor to the Buyer

Construction & Real Estate

Recapitalization

has been recapitalized

Business Services

Valuation Advisory & Fairness Opinion

Industrial Growth

M&A Advisory

has been acquired by the Cogent Employee Stock Ownership Plan

Advisor to the Buyer

Industrial Growth

ESOP Advisory

Sale of 100% of the company to an employee stock ownership plan

Industrial Growth

Recapitalization

has been recapitalized. Financing provided by

Business Services

Consulting Services

Hospitality

Valuation Advisory & Fairness Opinion

Industrial Growth

M&A Advisory

has been acquired by the Design Solutions & Integration Employee Stock Ownership Plan

Advisor to the Buyer

Industrial Growth

Fairness Opinion

Industrial Growth

M&A Advisory

has been acquired by the ESL Power Systems Employee Stock Ownership Plan

Advisor to the Buyer

Industrial Growth

Valuation Advisory

Business Services

Recapitalization

has been recapitalized into a partnership through a private placement and a buyback of shares. Financing provided by

Business Services

Consulting Services

Business Services

Recapitalization

has been recapitalized through a private placement and a buyback of shares. Financing provided by

Business Services

Fairness Opinion

Hospitality

M&A Advisory

has been acquired by PureStar, a portfolio company of

Advisor to the Seller

Hospitality

M&A Advisory

has been acquired by

Advisor to the Seller

Healthcare

Fairness Opinion

Business Services

Valuation Advisory

Business Services

M&A Advisory

has been acquired by the Gewalt Hamilton Associates, Inc. Employee Stock Ownership Plan

Advisor to the Buyer

Business Services

M&A Advisory

has been acquired by Renaissance Power Systems, a portfolio company of

Advisor to the Seller

Industrial Growth

ESOP Advisory

has been acquired by the Haberfeld Associates Employee Stock Ownership Plan

Business Services

Recapitalization

has been recapitalized. Financing provided by

Business Services

Fairness Opinion

Business Services

M&A Advisory

has been acquired by

Advisor to the Seller

Business Services

Fairness Opinion

Construction & Real Estate

ESOP Advisory

has been acquired by the Independent Imaging Holdings, Inc. Employee Stock Ownership Plan

Healthcare

Valuation Advisory

Business Services

ESOP Advisory

The Kelly, Anderson & Associates, Inc. Employee Stock Ownership Plan acquired common stock of KAA Federal Solutions

Business Services

Valuation Advisory

Business Services

M&A Advisory

has been acquired by the Labor Solutions Employee Stock Ownership Plan

Advisor to the Buyer

Business Services

Valuation Advisory

Industrial Growth

M&A Advisory

has been acquired by the Laser Dynamics Employee Stock Ownership Plan

Advisor to the Buyer

Industrial Growth

M&A Advisory

has been acquired by

Advisor to the Seller

Industrial Growth

Valuation Advisory

Industrial Growth

Valuation Advisory & Fairness Opinion

Industrial Growth

M&A Advisory

has been acquired by AG Solutions Group, a portfolio company of

Advisor to the Seller

Industrial Growth

Valuation Advisory & Fairness Opinion

Consumer

M&A Advisory

has been acquired by

Advisor to the Seller

Consumer

Recapitalization

has been recapitalized through a private placement and a buyback of ESOP shares. Financing provided by

Construction & Real Estate

ESOP Advisory

has been acquired by The McLean Group Employee Stock Ownership Plan

Business Services

Fairness Opinion

Industrial Growth

M&A Advisory

has been acquired by the Modern Air Employee Stock Ownership Plan

Advisor to the Buyer

Industrial Growth

Recapitalization

has been recapitalized. Financing provided by

Industrial Growth

Valuation Advisory & Fairness Opinion

Construction & Real Estate

M&A Advisory

has been acquired by the NP Mechanical Employee Stock Ownership Plan

Advisor to the Buyer

Construction & Real Estate

ESOP Advisory

has been acquired by the NSD Holdings, Inc. Employee Stock Ownership Plan

Business Services

M&A Advisory

has been acquired through a majority recapitalization by an undisclosed buyer

Advisor to the Seller

Business Services

Valuation Advisory

Industrial Growth

Valuation Advisory

Industrial Growth

M&A Advisory

has been acquired by the Paper Machinery Employee Stock Ownership Plan

Advisor to the Buyer

Industrial Growth

ESOP Advisory

has been acquired by the Paschall Truck Lines, Inc. Employee Stock Ownership Plan

Transportation

Consulting Services

Healthcare

ESOP Advisory

has been acquired by the Path Medical Center Holdings, Inc. Employee Stock Ownership Plan

Healthcare

Consulting Services

Business Services

ESOP Advisory

has been acquired by the Quaintance-Weaver Management, LLC Employee Stock Ownership Plan

Hospitality

Valuation Advisory & Fairness Opinion

Industrial Growth

M&A Advisory

has been acquired by the Raydon Employee Stock Ownership Plan

Advisor to the Buyer

Industrial Growth

M&A Advisory

has been acquired by Bylight, a portfolio company of

Advisor to the Seller

Industrial Growth

Valuation Advisory & Fairness Opinion

Business Services

Valuation Advisory & Fairness Opinion

Construction & Real Estate

M&A Advisory

has been acquired by the Rumsey Construction Employee Stock Ownership Plan

Advisor to the Buyer

Construction & Real Estate

Valuation Advisory

Business Services

Valuation Advisory & Fairness Opinion

Industrial Growth

M&A Advisory

has been acquired by

Advisor to the Seller

Industrial Growth

ESOP Advisory

has been acquired by the Smith Transport Employee Stock Ownership Plan

Transportation

Fairness Opinion

Business Services

M&A Advisory

has been acquired by the Solid IT Networks Employee Stock Ownership Plan

Advisor to the Buyer

Business Services

Valuation Advisory

Industrial Growth

ESOP Advisory

The Spinx Company, Inc. Employee Stock Ownership Plan has acquired common stock of Spinx Company, Inc.

Advisor to the Buyer

Consumer

Valuation Advisory

Industrial Growth

Fairness Opinion

Business Services

M&A Advisory

has been acquired by

Advisor to the Seller

Industrial Growth

Valuation Advisory & Fairness Opinion

Consumer

M&A Advisory

has been acquired by the Taylor Guitars Employee Stock Ownership Plan

Advisor to the Buyer

Consumer

Valuation Advisory & Fairness Opinion

Business Services

ESOP Advisory

The Tecolote Research Employee Stock Ownership Plan has acquired common stock of Telecote

Advisor to the Buyer

Business Services

Valuation Advisory & Fairness Opinion

Industrial Growth

M&A Advisory

has been acquired by the TMF Employee Stock Ownership Plan

Advisor to the Buyer

Industrial Growth

Consulting Services

Hospitality

M&A Advisory

has been acquired by

Advisor to the Seller

Hospitality

Valuation Advisory

Consumer

M&A Advisory

has been acquired by the True Air Mechanical Employee Stock Ownership Plan

Advisor to the Buyer

Consumer

Recapitalization

has been recapitalized. Financing provided by

Construction & Real Estate

Consulting Services

Construction & Real Estate

Fairness Opinion

Consumer

M&A Advisory

has been acquired by the Westchester Publishing Services Employee Stock Ownership Plan

Advisor to the Buyer

Consumer