Transactions

Fairness Opinion

4C Holdings, Inc.

Business Services

Recapitalization

has been recapitalized. Financing provided by

Government Services

Valuation Advisory

Business Services

M&A Advisory & Fairness Opinion

has been acquired by the Action Labor Employee Stock Ownership Plan

Advisor to the Buyer

Business Services

Valuation Advisory

Engineering Services

Government Services

M&A Advisory & Fairness Opinion

has been acquired by the AE2S Employee Stock Ownership Plan

Advisor to the Buyer

Engineering Services

Government Services

Consulting Services

Manufacturing

M&A Advisory & Fairness Opinion

has been acquired by

Advisor to the Seller

Consumer

Valuation Advisory

Business Services

Valuation Advisory

Industrial

M&A Advisory & Fairness Opinion

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

Advisor to the Buyer

Industrial

M&A Advisory & Fairness Opinion

has been acquired by

Advisor to the Seller

Healthcare

Valuation Advisory

Industrial

Valuation Advisory

Engineering Services

Government Services

M&A Advisory & Fairness Opinion

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

Advisor to the Buyer

Engineering Services

Government Services

Valuation Advisory

Business Services

Valuation Advisory

Construction & Real Estate

ESOP Advisory

has been acquired by the Arch Telecom Employee Stock Ownership Trust

Consumer

Recapitalization

has been recapitalized. Financing provided by

Consumer

Valuation Advisory

Industrial

M&A Advisory & Fairness Opinion

has been acquired by

Advisor to the Seller

Industrial

Fairness Opinion

Construction & Real Estate

ESOP Advisory

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

Construction & Real Estate

Valuation Advisory

Construction & Real Estate

M&A Advisory & Fairness Opinion

has been acquired by the Butters Employee Stock Ownership Plan

Advisor to the Buyer

Construction & Real Estate

Recapitalization

has been recapitalized

Consumer

Valuation Advisory

Industrial

M&A Advisory & Fairness Opinion

has been acquired by the Cogent Employee Stock Ownership Plan

Advisor to the Buyer

Industrial

Consulting Services

Business Services

Recapitalization

has been recapitalized. Financing provided by

Government Services

Consulting Services

Hospitality

Valuation Advisory

Industrial

M&A Advisory & Fairness Opinion

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

Advisor to the Buyer

Industrial

Valuation Advisory

Industrial

M&A Advisory & Fairness Opinion

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

Advisor to the Buyer

Industrial

Valuation Advisory

Business Services

Recapitalization

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

Distribution

Consulting Services

Distribution

Recapitalization

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

Distribution

Fairness Opinion

Distribution

Valuation Advisory

Hospitality

M&A Advisory & Fairness Opinion

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

Recapitalization

has been recapitalized. Financing provided by outside capital provider.

Business Services

Valuation Advisory

Engineering Services

M&A Advisory & Fairness Opinion

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

Advisor to the Buyer

Engineering Services

M&A Advisory

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

Advisor to the Seller

Manufacturing

ESOP Advisory

has been acquired by the Haberfeld Associates Employee Stock Ownership Plan

Business Services

Recapitalization

has been recapitalized. Financing provided by

Business Services

M&A Advisory & Fairness Opinion

has been acquired by

Advisor to the Seller

Business Services

Fairness Opinion

Construction & Real Estate

Valuation Advisory

Howe Electric Construction, Inc.

Construction & Real Estate

ESOP Advisory

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

Healthcare

M&A Advisory & Fairness Opinion

has been acquired by the IQA Solutions Employee Stock Ownership Plan

Engineering Services

Valuation Advisory

Engineering Services

Valuation Advisory

Government Services

ESOP Advisory

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

Government Services

Valuation Advisory

Business Services

M&A Advisory & Fairness Opinion

has been acquired by the Labor Solutions Employee Stock Ownership Plan

Advisor to the Buyer

Business Services

Valuation Advisory

Industrial

M&A Advisory & Fairness Opinion

has been acquired by the Laser Dynamics Employee Stock Ownership Plan

Advisor to the Buyer

Industrial

M&A Advisory

has been acquired by

Advisor to the Seller

Industrial

Valuation Advisory

Industrial

Valuation Advisory

Industrial

M&A Advisory & Fairness Opinion

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

Advisor to the Seller

Industrial

Valuation Advisory

Consumer

M&A Advisory & Fairness Opinion

has been acquired by

Advisor to the Seller

Consumer

Recapitalization

has been recapitalized into a partnership through a private placement.

Construction & Real Estate

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

M&A Advisory & Fairness Opinion

has been acquired by the MHS Lift Employee Stock Ownership Plan

Industrial

Valuation Advisory

Industrial

Valuation Advisory

Construction & Real Estate

Industrial

M&A Advisory & Fairness Opinion

has been acquired by the Modern Air Employee Stock Ownership Plan

Advisor to the Buyer

Construction & Real Estate

Industrial

Recapitalization

has been recapitalized. Financing provided by

Distribution

Valuation Advisory

Construction & Real Estate

Industrial

M&A Advisory & Fairness Opinion

has been acquired by the NP Mechanical Employee Stock Ownership Plan

Advisor to the Buyer

Construction & Real Estate

Industrial

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

Fairness Opinion

Business Services

Valuation Advisory

Healthcare

Valuation Advisory

Industrial

M&A Advisory & Fairness Opinion

has been acquired by the Panhandle Implement Company Inc. Employee Stock Ownership Plan

Industrial

Valuation Advisory

Manufacturing

M&A Advisory & Fairness Opinion

has been acquired by the Paper Machinery Employee Stock Ownership Plan

Advisor to the Buyer

Manufacturing

ESOP Advisory

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

Transportation & Logistics

Consulting Services

Healthcare

ESOP Advisory

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

Healthcare

Consulting Services

Government Services

ESOP Advisory

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

Hospitality

Valuation Advisory

Industrial

M&A Advisory & Fairness Opinion

has been acquired by the Raydon Employee Stock Ownership Plan

Advisor to the Buyer

Industrial

M&A Advisory

has been acquired by Bylight, a portfolio company of

Advisor to the Seller

Industrial

Valuation Advisory

Engineering Services

Government Services

M&A Advisory & Fairness Opinion

has acquired

Advisor to the Buyer

Engineering Services

Government Services

Valuation Advisory

Construction & Real Estate

M&A Advisory & Fairness Opinion

has been acquired by the Rumsey Construction Employee Stock Ownership Plan

Advisor to the Buyer

Construction & Real Estate

M&A Advisory

Sale of assets to an undisclosed buyer

Advisor to the Seller

Construction & Real Estate

Valuation Advisory

Business Services

Valuation Advisory

Industrial

M&A Advisory & Fairness Opinion

has been acquired by

Advisor to the Seller

Industrial

ESOP Advisory

has been acquired by the Smith Transport Employee Stock Ownership Plan

Transportation & Logistics

Valuation Advisory

Business Services

M&A Advisory & Fairness Opinion

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

Advisor to the Buyer

Business Services

Valuation Advisory

Industrial

M&A Advisory

has been acquired by

Advisor to the Seller

Healthcare

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

Valuation Advisory

Business Services

M&A Advisory & Fairness Opinion

has been acquired by the SRF Employee Stock Ownership Plan

Business Services

M&A Advisory & Fairness Opinion

has been acquired by

Advisor to the Seller

Industrial

Valuation Advisory

Consumer

M&A Advisory & Fairness Opinion

has been acquired by the Taylor Guitars Employee Stock Ownership Plan

Advisor to the Buyer

Consumer

ESOP Advisory

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

Distribution

Valuation Advisory

Business Services

ESOP Advisory & Fairness Opinion

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

Advisor to the Buyer

Business Services

Valuation Advisory

Industrial

M&A Advisory & Fairness Opinion

has been acquired by the TMF Employee Stock Ownership Plan

Advisor to the Buyer

Industrial

Consulting Services

Construction & Real Estate

Hospitality

M&A Advisory

has been acquired by

Advisor to the Seller

Construction & Real Estate

Hospitality

Valuation Advisory

Construction & Real Estate

Industrial

M&A Advisory & Fairness Opinion

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

Advisor to the Buyer

Construction & Real Estate

Industrial

Recapitalization

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

Distribution

Recapitalization

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

Distribution

Consulting Services

Distribution

Recapitalization

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

Distribution

Management Buyout

has been acquired by the management team. Financing provided by

Advisor to the Buyer

Healthcare

Valuation Advisory

Consumer

M&A Advisory & Fairness Opinion

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

Advisor to the Buyer

Consumer