DOUGLAS E.

OHNGEMACH 175 Meadbrook Road, Garden City, NY 11530 516-456-2576 C / 516-877-2871 H SUMMARY Commercial Finance, Credit and Leasing Professional with extensive experience ev aluating, managing and executing risk-sensitive equity and debt investments in l arge structured asset based financing transactions. Strong background in credit risk analysis, underwriting, structuring, negotiating and documenting new and e xisting large structured leasing and tax equity investments. Proven ability to identify, monitor and mitigate risk by analyzing credits, industries, assets, tr ansaction structures and documentation, synthesizing into recommendations and wo rking with internal and external parties to create and preserve value. Service and team oriented with ability to develop strong business relations. Expertise: * * * * * * * * * Leasing & Tax Equity Investments Credit Risk Analysis & Review Energy / Utilities / Rail / Aircraft Structure, Underwrite & Negotiate Risk Monitoring & Compliance Projects & Cash Flow Models Due Diligence & Documentation Asset & Portfolio Management Asset, Collateral & Residual Values

PROFESSIONAL EXPERIENCE PHILIP MORRIS CAPITAL CORPORATION, Stamford, CT 1995 - 2010

Altria Group financial services subsidiary with large portfolio of US and intern ational leveraged and structured finance lease investments across many industrie s/sectors - investments of $15M to $125M per transaction. Director, Asset Management - Structured Finance (2003-2010) Actively managed investments and led cross-functional deal teams to mitigate ris k, preserve value and maximize gains of complex equity and debt investments in l everaged, single investor and structured lease financing. Asset Segments: Surfa ce Transportation, Rail and Real Estate ($2B); Energy & Utilities ($1.2B); and A ircraft ($1.3B). * Generated pre-tax cash proceeds of ~$1.3B, maximized gains and preserved valu e by executing asset sales, terminations, modifications, lease term options, and other asset/portfolio management initiatives. * Proactively monitored and reviewed investment credit quality, asset values (r esidual/collateral), transaction structures and documentation terms to ensure in vestments perform and comply with credit approval. * Performed comprehensive credit, asset, investment and document analyses, synt hesized into recommendations for action and presented to senior management cover ing all investment risk and performance issues.

* Protected equity investments and ongoing asset values by anticipating and res ponding to events that required lease restructuring or modification, resolution of compliance matters and workout of distressed credits. * Led meetings with lessees and industry experts, and conducted site visits, in spections and due diligence to ascertain lease end intentions and ensure assets are used and maintained as required by documents. * Directed discussions and negotiations with lessees, co-investors, bankers, ap praisers, counsel and other parties to resolve transaction issues (credit, struc ture, documentation, tax, accounting and legal) and preserve rights. * Analyzed financial statements, cash flow models, management projections, indu stry research and corporate creditworthiness, including conferring with rating a gencies and industry experts to assess investment quality. * Transaction and Strategic Leadership: Railcar Lease Securitizations - Spearheaded management of distressed credit risk of complex leveraged lease investments to protect and preserve investment value . Worked with client's management, co-investors, counsel and industry experts t o resolve credit, structural, compliance and legal issues - extensive cash flow model, waterfall, terms and conditions, and collateral analysis. Midstream Energy Company Investment - Led extensive on-site due diligence, evalu ation of corporate and natural gas processing facility projections and tracking of industry/market data to position, recommend strategy, negotiate and execute p ortfolio management and opportunistic early sale for large gain. Energy and Electric Power Sector - Closely monitored $1.2B portfolio segment ris k and executed asset and portfolio management practices: asset sales, terminati ons, modifications, compliance and lease-end options. Director, Structured Finance (2001-2003) Manager, Structured Finance (1998-2001) Led evaluation, underwriting and execution of new large equity and debt investme nts in domestic and international structured single-investor and leveraged lease financing ($15M to $125M / transaction) across many industries/asset sectors, i ncluding Energy/Utilities, Rail, Aircraft, Real Estate, Manufacturing and Infras tructure. * Underwrote and executed approximately ~$813 million of new tax equity and lea se investments involving many industries, assets and structures. * Led cross-functional deal teams and transaction process to analyze, structure , underwrite, negotiate and document investments to achieve optimal economics, c redit risk profile and terms and conditions consistent with approval. * Developed, prepared and presented detailed investment recommendations to seni or management for approval, including comprehensive credit, asset and structure risk assessment and mitigation analysis. * Coordinated cross-functional analysis, research and negotiation of investment issues (pricing, tax, accounting, collateral) with transaction parties (bankers , advisors, rating agencies, industry experts, appraisers and counsel). * Executed extensive due diligence, research, evaluation of terms and condition s and acceptable documentation.

* New Transaction Leadership: Cross-Border Energy/Oil & Gas Investments - Directed profitable new large intern ational single-investor lease financing (~$80M) of offshore Brazil oil productio n platforms/rigs with Brazilian and US credits. Railcar Lease Securitizations - Led new equity investments in structured, projec t-oriented financing from deal source to successful close. Utilized quantitativ e and qualitative analytical skills to evaluate cash flow model, waterfall, risk ratings and documentation to achieve approved risk profile and economics. Cross-Border Utility/Energy Investment - Managed successful $69M equity investme nt in $460M structured cross-border leveraged lease financing of a waste-to-ener gy facility located in Netherlands. Credit Officer (1995-1998) Utilized strong expertise in financial statement analysis, corporate credit risk assessment and risk rating methodologies to provide comprehensive research, cre dit analyses and credit underwriting approval of new investment and loan financi ng and review of designated portfolio of lease and loan investments. Industries /sectors covered included Energy and Oil & Gas, Utilities and Power, Materials, Chemicals, Paper and Packaging, Manufacturing, Transportation, Media and Telecom , Insurance, and Governments and Institutions. * Supported marketing and underwriting of ~$500M of new equity invested by prov iding credit analyses, risk recommendations, due diligence and senior management credit approval for proposed investments. * Led credit efforts to support new business and portfolio management of highly leveraged, complex structured and unrated risk-sensitive credits, including hig h-yield, Latin American and project-oriented. * Key contributor to creation of internal credit risk rating guidelines/policy for new business, portfolio management and reporting focusing on unrated credits , investment recovery ratings and allowances. * Developed and managed Customer and Supplier credit policy for $100M portfoli o of asset based inventory, receivables, acquisition term loans and revolving cr edit lines for Miller Brewing Co. distributors/suppliers. CNA FINANCIAL CORPORATION, New York, NY 1985-1995

Manager, Financial Analysis, Special Risk (1991-1995) Senior Financial Analyst, Special Risk (1988-1991) Financial Analyst, Special Operations Group (1985-1988) * Led department of 4 analysts to provide financial statement analysis, researc h, credit risk review and risk financing recommendations/strategies for underwri ting of Fortune 500/1000 specialty-risk commercial insurance programs across all industries - monitored $2B portfolio and advised on alternative risk projects. * Evaluated financial acceptability and reinsurance security limits of 500 dom estic and foreign reinsurers. * Developed credit risk guidelines, financial underwriting process, and impleme

nted financial screening model working with commercial insurance special risk un derwriters. THE BANK OF NEW YORK MELLON, West Paterson, NJ Corporate Credit Analyst - Corporate Banking Group * Prepared and presented detailed commercial loan analyses and corporate bankin g proposals for executive loan committee approval utilizing financial statement analysis, credit and lending skills. Monitored and reported regional corporate banking, commercial loan and mortgage portfolio exposures. * Performed loan and mortgage closings and represented corporate bank on busine ss development calls. * Completed Formal Bank Credit Training Program EDUCATION M.B.A., Finance and Banking, Hofstra University, F.G. Zarb Graduate School of Bu siness, Hempstead, NY, 1993 B.S.B.A., Economics and Finance, University of Hartford, West Hartford, CT, 1983 Kellogg Executive Program: Credit Analysis, Equity Valuation & Financial Report ing, Northwestern University, Evanston, IL, 1997 1983-1985