EXTRA *** EXTRA *** EXTRA *** EXTRA *** EXTRA *** EXTRA *** EXTRA *** EXTRA #### Press Release ############################# Marlin Leasing Completes $380.2 Million Term Debt Securitization Company Release - MOUNT LAUREL, N.J., -- Marlin Leasing Corporation, a wholly owned subsidiary of Marlin Business Services Corp. (Nasdaq: MRLN), announced today the completion of a $380.2 million term asset backed securitization. This transaction was Marlin's eighth term debt securitization completed since 1999. As with all prior term debt securitizations, this financing provides the Company with fixed cost borrowing and will be recorded "on-balance sheet." Partial proceeds from the offering were used to repay borrowings under certain of the Company's warehouse credit facilities. Approximately $121.5 million from the transaction was deposited into an account to fund future lease production through January 12, 2007. Deutsche Bank Securities Inc. acted as the structuring and lead placement agent, with J.P. Morgan Securities Inc. acting as co-manager. This was a private offering made to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, by Marlin Leasing Receivables X LLC, a wholly owned subsidiary of Marlin Leasing Corporation. The senior/subordinated structure included six fixed rate classes of notes rated by Moody's Investors Service, Inc. and Standard & Poor's Ratings Services. The weighted average interest cost over the term of the financing to Marlin approximates 5.508%. In advance of this transaction, a series of forward interest rate swap contracts were executed to partially hedge against rising interest rates. After adjusting for hedging activities and other transaction costs, the effective weighted average interest expense over the term of the financing will be approximately 5.209%.
"We are pleased to announce the completion of our 2006 term securitization," said Lynne C. Wilson, CFO of the Company. "This transaction once again completes our normal annual funding cycle. It provides us with fixed rate financing to support our existing lease portfolio and expected growth into the fourth quarter of 2006 while reducing our exposure to rising interest rates." About Marlin Business Services Corp. Marlin Business Services Corp. is a nationwide provider of equipment leasing solutions primarily to small businesses. The Company's principal operating subsidiary, Marlin Leasing Corporation, finances over 60 equipment categories in a segment of the market generally referred to as "small-ticket" leasing (i.e. leasing transactions less than $250,000). The Company was founded in 1997 and completed its initial public offering of common stock on November 12, 2003. In addition to its executive offices in Mount Laurel, NJ, Marlin has regional offices in or near Atlanta, Chicago, Denver, Philadelphia and Salt Lake City. For more information, visit http://www.marlincorp.com or call toll-free at (888) 479-9111. SOURCE Marlin Business Services Corp. Contact: Lynne C. Wilson, CFO of Marlin Business Services Corp., +1-888-479-9111 x4108 #### Press Release ############################# Readers who contacted us that our Friday edition was down, please note: At approximately 9:45 AM ET this morning (Friday, September 22, 2006) Verio lost commercial power to its data center facility in Sterling, Virginia and experienced technical problems with its generators. The problem has now been resolved. The data center is currently operating on generator power and Verio's operations staff is now beginning to bring the data center back online. We will continue to work toward service restoration, and will post updates as needed to the verio.com Web site. EXTRA *** EXTRA *** EXTRA *** EXTRA *** EXTRA *** EXTRA *** EXTRA *** EXTRA |
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