<SEC-DOCUMENT>0000950123-11-096494.txt : 20111108
<SEC-HEADER>0000950123-11-096494.hdr.sgml : 20111108
<ACCEPTANCE-DATETIME>20111108161833
ACCESSION NUMBER:		0000950123-11-096494
CONFORMED SUBMISSION TYPE:	424B3
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20111108
DATE AS OF CHANGE:		20111108

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EXTERRAN ENERGY SOLUTIONS, L.P.
		CENTRAL INDEX KEY:			0001163675
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-EQUIPMENT RENTAL & LEASING, NEC [7359]
		IRS NUMBER:				752344249
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-176259-04
		FILM NUMBER:		111188043

	BUSINESS ADDRESS:	
		STREET 1:		4444 BRITTMOORE ROAD
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77041
		BUSINESS PHONE:		713-335-7000

	MAIL ADDRESS:	
		STREET 1:		4444 BRITTMOORE ROAD
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77041

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HANOVER COMPRESSION LP
		DATE OF NAME CHANGE:	20011214

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EXH MLP LP LLC
		CENTRAL INDEX KEY:			0001378267
		IRS NUMBER:				611510641
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-176259-03
		FILM NUMBER:		111188040

	BUSINESS ADDRESS:	
		STREET 1:		103 FOULK ROAD
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19803
		BUSINESS PHONE:		713-335-7000

	MAIL ADDRESS:	
		STREET 1:		4444 BRITTMOORE ROAD
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77041

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	UCI MLP LP LLC
		DATE OF NAME CHANGE:	20061016

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EXTERRAN HOLDINGS INC.
		CENTRAL INDEX KEY:			0001389050
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-EQUIPMENT RENTAL & LEASING, NEC [7359]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-176259
		FILM NUMBER:		111188044

	BUSINESS ADDRESS:	
		STREET 1:		1209 ORANGE STREET
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19801
		BUSINESS PHONE:		713-335-7000

	MAIL ADDRESS:	
		STREET 1:		1209 ORANGE STREET
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19801

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Iliad Holdings, INC
		DATE OF NAME CHANGE:	20070206

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EXH GP LP LLC
		CENTRAL INDEX KEY:			0001432535
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-176259-01
		FILM NUMBER:		111188041

	BUSINESS ADDRESS:	
		STREET 1:		103 FOULK ROAD
		STREET 2:		SUITE 202
		CITY:			WILIMINGTON
		STATE:			DE
		ZIP:			19803
		BUSINESS PHONE:		(302) 654-7584

	MAIL ADDRESS:	
		STREET 1:		103 FOULK ROAD
		STREET 2:		SUITE 202
		CITY:			WILIMINGTON
		STATE:			DE
		ZIP:			19803

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EES Leasing, LLC
		CENTRAL INDEX KEY:			0001465344
		IRS NUMBER:				261128249
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-176259-02
		FILM NUMBER:		111188042

	BUSINESS ADDRESS:	
		STREET 1:		16666 NORTHCHASE DRIVE
		CITY:			HOUSTON
		STATE:			X1
		ZIP:			77060
		BUSINESS PHONE:		281 836 7055

	MAIL ADDRESS:	
		STREET 1:		16666 NORTHCHASE DRIVE
		CITY:			HOUSTON
		STATE:			X1
		ZIP:			77060
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B3
<SEQUENCE>1
<FILENAME>h84127b3e424b3.htm
<DESCRIPTION>424B3
<TEXT>
<HTML>
<HEAD>
<TITLE>e424b3</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="right" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Filed Pursuant to Rule 424(b)(3)<BR>
    SEC File No. 333-176259</B>
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>PROSPECTUS</B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <IMG src="h84127b3h8412704.gif" alt="(EXTERRAN LOGO)"><B> </B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 24pt">Exterran Holdings,
    Inc.</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 14pt">Offer to Exchange</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 14pt">up to</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 14pt">$350,000,000 of
    7<FONT style="vertical-align: text-top; font-size: 70%;">1</FONT>/<FONT style="font-size: 70%;">4</FONT>%&#160;Senior
    Notes due 2018</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 14pt">that have been registered under
    the Securities Act of 1933</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 14pt">for</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 14pt">$350,000,000 of
    7<FONT style="vertical-align: text-top; font-size: 70%;">1</FONT>/<FONT style="font-size: 70%;">4</FONT>%&#160;Senior
    Notes due 2018</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 14pt">that have not been registered
    under the Securities Act of 1933</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 12pt">Please read <I>&#147;Risk
    Factors&#148;</I> beginning on page&#160;8 for a discussion of
    factors you should consider before  participating in the
    exchange offer.</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Neither the Securities and Exchange Commission nor any state
    securities commission has approved or disapproved of these
    securities or determined if this prospectus is truthful or
    complete. Any representation to the contrary is a criminal
    offense.</B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Each broker-dealer that receives the notes for its own account
    pursuant to this exchange offer must acknowledge by way of the
    letter of transmittal that it will deliver a prospectus in
    connection with any resale of the notes. This prospectus, as it
    may be amended or supplemented from time to time, may be used by
    a broker-dealer in connection with resales of the notes received
    in exchange for outstanding notes where such outstanding notes
    were acquired by such broker-dealer as a result of market-making
    activities or other trading activities. We have agreed to make
    this prospectus available for a period ending on the earlier of
    May&#160;7, 2012 and the date on which a broker-dealer is no
    longer required to deliver a prospectus in connection with
    market-making or other trading activities. See &#147;Plan of
    Distribution.&#148;
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The date of this prospectus is November&#160;8, 2011.
</DIV>
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<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This prospectus is part of a registration statement we filed
    with the Securities and Exchange Commission, or the
    &#147;Commission.&#148; In making your investment decision, you
    should rely only on the information contained in or incorporated
    by reference into this prospectus and in the letter of
    transmittal accompanying this prospectus. We have not authorized
    anyone to provide you with any other information. If you receive
    any unauthorized information, you must not rely on it. We are
    not making an offer to sell these securities in any state where
    the offer is not permitted. You should not assume that the
    information contained in this prospectus or in the documents
    incorporated by reference into this prospectus are accurate as
    of any date other than the date on the front cover of this
    prospectus or the date of such incorporated documents, as the
    case may be.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This prospectus incorporates by reference business and financial
    information about us that is not included in or delivered with
    this prospectus. This information is available without charge
    upon written or oral request directed to: Investor Relations,
    Exterran Holdings, Inc., 16666 Northchase Drive, Houston, Texas
    77060, telephone number:
    <FONT style="white-space: nowrap">(281)&#160;836-7000.</FONT>
    <B>To obtain timely delivery, you must request the information
    no later than November&#160;29, 2011, which is five business
    days prior to the expiration of the exchange offer.</B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">TABLE OF
    CONTENTS</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="96%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=quadleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=quadright -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#H84127101'>SUMMARY</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H84127102'>Exterran Holdings, Inc.&#160;</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H84127103'>Our Offices</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H84127104'>Risk Factors</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H84127105'>Terms of the Exchange Notes</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#H84127106'>RATIO OF EARNINGS TO FIXED CHARGES</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#H84127107'>RISK FACTORS</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H84127108'>Risks Related to the Exchange Offer</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H84127109'>Risks Related to the Notes</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#H84127110'>USE OF PROCEEDS</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#H84127111'>RATIO OF EARNINGS TO FIXED CHARGES</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#H84127112'>EXCHANGE OFFER</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H84127113'>Purpose of the Exchange Offer</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H84127114'>Resale of Exchange Notes</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H84127115'>Terms of the Exchange Offer</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H84127116'>Expiration Date</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H84127117'>Extensions, Delays in Acceptance, Termination or
    Amendment</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H84127118'>Conditions to the Exchange Offer</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    16
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H84127119'>Procedures for Tendering</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    16
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H84127120'>Withdrawal of Tenders</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H84127121'>Fees and Expenses</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H84127122'>Transfer Taxes</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H84127123'>Consequences of Failure to Exchange</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    19
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H84127124'>Accounting Treatment</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    19
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H84127125'>Other</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    19
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#H84127126'>DESCRIPTION OF EXCHANGE NOTES</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    19
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H84127127'>Brief Description of the Notes and the Subsidiary
    Guarantees</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    20
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H84127128'>Principal, Maturity and Interest</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    21
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H84127129'>Methods of Receiving Payments on the Notes</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    21
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H84127130'>Paying Agent and Registrar for the Notes</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    21
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H84127131'>Transfer and Exchange</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    21
</TD>
<TD>&nbsp;
</TD>
</TR>
</TABLE>
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<!-- XBRL Table Pagebreak -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="96%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
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    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=quadright -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Subsidiary Guarantees
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    21
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Optional Redemption
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    22
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Selection and Notice
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    23
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Mandatory Redemption
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    24
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Repurchase at the Option of Holders
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    24
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Certain Covenants
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    27
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Events of Default and Remedies
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    37
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    No Personal Liability of Directors, Officers, Employees and
    Stockholders
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    39
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Legal Defeasance and Covenant Defeasance
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    39
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Amendment, Supplement and Waiver
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    40
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Satisfaction and Discharge
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    41
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Concerning the Trustee
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    42
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Governing Law
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    42
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Additional Information
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    42
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Book-Entry, Delivery and Form
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    42
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Depository Procedures
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    43
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Exchange of Global Notes for Certificated Notes
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    45
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Exchange of Certificated Notes for Global Notes
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    45
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <FONT style="white-space: nowrap">Same-Day</FONT>
    Settlement and Payment
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    45
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Certain Definitions
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    45
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    MATERIAL U.S. FEDERAL INCOME TAX CONSEQUENCES
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    62
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    PLAN OF DISTRIBUTION
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    66
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    LEGAL MATTERS
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    68
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    EXPERTS
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    68
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    WHERE YOU CAN FIND MORE INFORMATION
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    68
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    INFORMATION REGARDING FORWARD-LOOKING STATEMENTS
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    69
</TD>
<TD>&nbsp;
</TD>
</TR>
</TABLE>

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</DIV>
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    <BR>
    ii
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<A name='H84127101'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">SUMMARY</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>This summary highlights information included or incorporated
    by reference in this prospectus. It may not contain all of the
    information that is important to you. This prospectus includes
    information about the exchange offer and includes or
    incorporates by reference information about our business and our
    financial and operating data. Before deciding to participate in
    the exchange offer, you should read this entire prospectus
    carefully, including the financial data and related notes
    incorporated by reference in this prospectus and the &#147;Risk
    Factors&#148; section beginning on page&#160;8 of this
    prospectus.</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>References to &#147;Exterran,&#148; &#147;we,&#148;
    &#147;us,&#148; or &#147;our&#148; refer to Exterran Holdings,
    Inc., and, where the context requires, include our consolidated
    subsidiaries.</I>
</DIV>

<A name='H84127102'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exterran
    Holdings, Inc.</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We are a global market leader in the full service natural gas
    compression business and a premier provider of operations,
    maintenance, service and equipment for oil and natural gas
    production, processing and transportation applications. Our
    global customer base consists of companies engaged in all
    aspects of the oil and natural gas industry, including large
    integrated oil and natural gas companies, national oil and
    natural gas companies, independent producers and natural gas
    processors, gatherers and pipelines. We operate in three primary
    business lines: contract operations, fabrication and aftermarket
    services. In our contract operations business line, we own a
    fleet of natural gas compression equipment and crude oil and
    natural gas production and processing equipment that we utilize
    to provide operations services to our customers. In our
    fabrication business line, we fabricate and sell equipment
    similar to the equipment that we own and utilize to provide
    contract operations to our customers. We also fabricate the
    equipment utilized in our contract operations services. In
    addition, our fabrication business line provides engineering,
    procurement and fabrication services primarily related to the
    manufacturing of critical process equipment for refinery and
    petrochemical facilities, the fabrication of tank farms and the
    fabrication of evaporators and brine heaters for desalination
    plants. In our Total Solutions projects, which we offer to our
    customers on either a contract operations basis or a sale basis,
    we provide the engineering, design, project management,
    procurement and construction services necessary to incorporate
    our products into complete production, processing and
    compression facilities. In our aftermarket services business
    line, we sell parts and components and provide operations,
    maintenance, overhaul and reconfiguration services to customers
    who own compression, production, processing, treating and other
    equipment.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our products and services are essential to the production,
    processing, transportation and storage of natural gas and are
    provided primarily to energy producers and distributors of oil
    and natural gas. Our geographic business unit operating
    structure, technically experienced personnel and high-quality
    contract operations fleet allow us to provide reliable and
    timely customer service.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We have an equity interest in Exterran Partners, L.P. (the
    &#147;Partnership&#148;), a master limited partnership that
    provides natural gas contract operations services to customers
    throughout the United States. As of September&#160;30, 2011,
    public unitholders held a 65% ownership interest in the
    Partnership and we owned the remaining equity interest,
    including the general partner interest and all incentive
    distribution rights. The general partner of the Partnership is
    our subsidiary, and we consolidate the financial position and
    results of operations of the Partnership. It is our intention
    for the Partnership to be the primary vehicle for the long-term
    growth of our U.S.&#160;contract operations business and for us
    to continue to contribute U.S.&#160;contract operations customer
    contracts and equipment to the Partnership over time in exchange
    for cash, the Partnership&#146;s assumption of our debt
    <FONT style="white-space: nowrap">and/or</FONT> our
    receipt of additional interests in the Partnership.
</DIV>

<A name='H84127103'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Our
    Offices</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our executive offices are located at 16666 Northchase Drive,
    Houston, Texas 77060 and our telephone number is
    <FONT style="white-space: nowrap">(281)&#160;836-7000.</FONT>
    Our website address is <I>www.exterran.com</I>. Information on
    our website is not incorporated in this prospectus.
</DIV>
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    <BR>
    1
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Risk
    Factors</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Investing in the notes involves substantial risks. You should
    carefully consider all the information contained in this
    prospectus, including information in documents incorporated by
    reference, prior to participating in the exchange offer. In
    particular, we urge you to carefully consider the factors set
    forth under &#147;Risk Factors&#148; beginning on page&#160;8 of
    this prospectus and those risk factors incorporated by reference
    to our Annual Report on
    <FONT style="white-space: nowrap">Form&#160;10-K</FONT>
    for the year ended December&#160;31, 2010 and our Quarterly
    Report on
    <FONT style="white-space: nowrap">Form&#160;10-Q</FONT>
    for the quarter ended September&#160;30, 2011.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exchange
    Offer</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>On November&#160;23, 2010, we completed a private offering of
    the outstanding notes. As part of this private offering, we
    entered into a registration rights agreement with the initial
    purchasers of the outstanding notes in which we agreed, among
    other things, to deliver this prospectus to you and to use
    commercially reasonable efforts to complete the exchange offer
    no later than 400&#160;days after November&#160;23, 2010. The
    following is a summary of the exchange offer.</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="36%"></TD>
    <TD width="1%"></TD>
    <TD width="63%"></TD>
</TR>

<TR>
    <TD valign="top">
    Outstanding Notes</TD>
    <TD></TD>
    <TD valign="bottom">
    On November 23, 2010, we issued $350 million aggregate
    principal                                          amount of
    7<FONT style="vertical-align: text-top; font-size: 70%;">1</FONT>/<FONT style="font-size: 70%;">4</FONT>%&#160;Senior
    Notes due 2018.</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Exchange Notes</TD>
    <TD></TD>
    <TD valign="bottom">
    7<FONT style="vertical-align: text-top; font-size: 70%;">1</FONT>/<FONT style="font-size: 70%;">4</FONT>%&#160;Senior
    Notes due 2018. The terms of the exchange notes are identical to
    the terms of the outstanding notes, except that the transfer
    restrictions, registration rights and provisions for additional
    interest relating to the outstanding notes do not apply to the
    exchange notes.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Exchange Offer</TD>
    <TD></TD>
    <TD valign="bottom">
    We are offering to exchange up to $350&#160;million principal
    amount of our
    7<FONT style="vertical-align: text-top; font-size: 70%;">1</FONT>/<FONT style="font-size: 70%;">4</FONT>%&#160;Senior
    Notes due 2018 that have been registered under the Securities
    Act of 1933, or the Securities Act, for an equal amount of our
    outstanding
    7<FONT style="vertical-align: text-top; font-size: 70%;">1</FONT>/<FONT style="font-size: 70%;">4</FONT>%&#160;Senior
    Notes due 2018 issued on November&#160;23, 2010 to satisfy our
    obligations under the registration rights agreement that we
    entered into when we issued the outstanding notes in a
    transaction exempt from registration under the Securities Act.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Expiration Date</TD>
    <TD></TD>
    <TD valign="bottom">
    The exchange offer will expire at 5:00&#160;p.m., New York City
    time, on December&#160;6, 2011, unless we decide to extend it.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Conditions to the Exchange Offer</TD>
    <TD></TD>
    <TD valign="bottom">
    The registration rights agreement does not require us to accept
    outstanding notes for exchange if the exchange offer or the
    making of any exchange by a holder of the outstanding notes
    would violate any applicable law or Commission policy. A minimum
    aggregate principal amount of outstanding notes being tendered
    is not a condition to the exchange offer. Please read
    &#147;Exchange Offer&#160;&#151; Conditions to the Exchange
    Offer&#148; for more information about the conditions to the
    exchange offer.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
<DIV style="text-indent: -5%; margin-left: 5%">
    Procedures for Tendering Outstanding Notes</DIV>
</TD>
    <TD></TD>
    <TD valign="bottom">
    All of the outstanding notes are held in book-entry form through
    the facilities of The Depository Trust&#160;Company, or DTC. To
    participate in the exchange offer, you must follow the automatic
    tender offer program, or ATOP, procedures established by DTC for
    tendering notes held in book-entry form. The ATOP procedures
    require that the exchange agent receive, prior to the expiration
    date of the exchange offer, a computer-generated message known
    as an &#147;agent&#146;s message&#148; that is transmitted
    through ATOP and that DTC confirm that:</TD>
</TR>

</TABLE>
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    <BR>
    2
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
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<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="36%"></TD>
    <TD width="1%"></TD>
    <TD width="63%"></TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    &#149;&#160;DTC has received instructions to exchange your
    notes; and</DIV>
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    &#149;&#160;you agree to be bound by the terms of the letter of
    transmittal in Annex&#160;A hereto.</DIV>
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
    For more details, please read &#147;Exchange Offer&#160;&#151;
    Terms of the Exchange Offer&#148; and &#147;Exchange
    Offer&#160;&#151; Procedures for Tendering.&#148;</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Guaranteed Delivery Procedures</TD>
    <TD></TD>
    <TD valign="bottom">
    None.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Withdrawal of Tenders</TD>
    <TD></TD>
    <TD valign="bottom">
    You may withdraw your tender of outstanding notes at any time
    prior to the expiration date. To withdraw, you must submit a
    notice of withdrawal to the exchange agent using ATOP procedures
    before 5:00&#160;p.m., New York City time, on the expiration
    date of the exchange offer. Please read &#147;Exchange
    Offer&#160;&#151; Withdrawal of Tenders.&#148;</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
<DIV style="text-indent: -5%; margin-left: 5%">
    Acceptance of Outstanding Notes and Delivery of Exchange Notes</DIV>
</TD>
    <TD></TD>
    <TD valign="bottom">
    If you fulfill all conditions required for proper acceptance of
    outstanding notes, we will accept any and all outstanding notes
    that you properly tender in the exchange offer before
    5:00&#160;p.m., New York City time, on the expiration date. We
    will return any outstanding note that we do not accept for
    exchange to you without expense promptly after the expiration
    date. We will deliver the exchange notes promptly after the
    expiration date. Please read &#147;Exchange Offer&#160;&#151;
    Terms of the Exchange Offer.&#148;</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Fees and Expenses</TD>
    <TD></TD>
    <TD valign="bottom">
    We will bear all expenses related to the exchange offer. Please
    read &#147;Exchange Offer&#160;&#151; Fees and Expenses.&#148;</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Use of Proceeds</TD>
    <TD></TD>
    <TD valign="bottom">
    The issuance of the exchange notes will not provide us with any
    new proceeds. We are making the exchange offer solely to satisfy
    our obligations under our registration rights agreement.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
<DIV style="text-indent: -5%; margin-left: 5%">
    Consequences of Failure to Exchange Outstanding Notes</DIV>
</TD>
    <TD></TD>
    <TD valign="bottom">
    If you do not exchange your outstanding notes in the exchange
    offer, you will no longer be able to require us to register the
    outstanding notes under the Securities Act, except in the
    limited circumstances provided under our registration rights
    agreement. In addition, you will not be able to resell, offer to
    resell or otherwise transfer the outstanding notes unless we
    have registered the outstanding notes under the Securities Act,
    or unless you resell, offer to resell or otherwise transfer them
    under an exemption from the registration requirements of, or in
    a transaction not subject to, the Securities Act.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
<DIV style="text-indent: -5%; margin-left: 5%">
    U.S. Federal Income Tax Consequences</DIV>
</TD>
    <TD></TD>
    <TD valign="bottom">
    The exchange of exchange notes for outstanding notes in the
    exchange offer will not be a taxable event for U.S. federal
    income tax purposes. Please read &#147;Material U.S. Federal
    Income Tax Consequences.&#148;</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Exchange Agent</TD>
    <TD></TD>
    <TD valign="bottom">
    We have appointed Wells Fargo Bank, National Association as the
    exchange agent for the exchange offer. You should direct
    questions and requests for assistance and requests for
    additional copies of this  </TD>
</TR>
<!-- XBRL Paragraph Pagebreak -->

</TABLE>
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    <BR>
    3
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<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"><!-- TABLE 06 -->

<TR>
    <TD width="36%"></TD>
    <TD width="1%"></TD>
    <TD width="63%"></TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
    prospectus (including the letter of transmittal) to the exchange
    agent addressed as follows:</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
    By Registered or Certified Mail<BR>
    Wells Fargo Bank, N.A.<BR>
    MAC N9303-121<BR>
    P.O.&#160;Box&#160;1517<BR>
    Minneapolis, Minnesota 55480</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
    By Overnight Delivery<BR>
    Wells Fargo Bank, N.A.<BR>
    MAC N9303-121<BR>
    6th&#160;&#038; Marquette Avenue<BR>
    Minneapolis, Minnesota 55479</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
    By Hand Delivery<BR>
    Wells Fargo Bank, N.A.<BR>
    608 2nd Avenue South<BR>
    Northstar East<BR>
    Building&#160;&#151; 12th Floor<BR>
    Minneapolis, Minnesota</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
    Facsimile Transmission<BR>
    <FONT style="white-space: nowrap">612-667-6282</FONT><BR>
    Attn: Corporate Trust&#160;Operations<BR>
    Confirm by Telephone:<BR>
    <FONT style="white-space: nowrap">800-344-5128</FONT></TD>
</TR>

</TABLE>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<A name='H84127105'>
<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Terms of
    the Exchange Notes</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>The exchange notes will be identical to the outstanding
    notes, except that the exchange notes are registered under the
    Securities Act and will not have restrictions on transfer,
    registration rights or provisions for additional interest. The
    exchange notes will evidence the same debt as the outstanding
    notes, and the same indenture will govern the exchange notes and
    the outstanding notes. We sometimes refer to both the exchange
    notes and the outstanding notes as the &#147;notes.&#148;</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>The following summary contains basic information about the
    exchange notes and is not intended to be complete. It does not
    contain all the information that is important to you. For a more
    complete understanding of the exchange notes, please read
    &#147;Description of Exchange Notes.&#148;</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"><!-- TABLE 06 -->

<TR>
    <TD width="36%"></TD>
    <TD width="1%"></TD>
    <TD width="63%"></TD>
</TR>

<TR>
    <TD valign="top">
    Issuer</TD>
    <TD></TD>
    <TD valign="bottom">
    Exterran Holdings, Inc.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Notes Offered</TD>
    <TD></TD>
    <TD valign="bottom">
    $350,000,000 aggregate principal amount of
    7<FONT style="vertical-align: text-top; font-size: 70%;">1</FONT>/<FONT style="font-size: 70%;">4</FONT>%&#160;senior
    notes due 2018</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Maturity Date</TD>
    <TD></TD>
    <TD valign="bottom">
    December&#160;1, 2018</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Interest</TD>
    <TD></TD>
    <TD valign="bottom">
    Interest on the exchange notes will accrue at a rate of
    7<FONT style="vertical-align: text-top; font-size: 70%;">1</FONT>/<FONT style="font-size: 70%;">4</FONT>%
    per annum (calculated using a
    <FONT style="white-space: nowrap">360-day</FONT>
    year).</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
    Interest on the exchange notes will be payable on June 1 and
    December 1 of each year, beginning on June&#160;1, 2012, and
    will accrue from the most recent date on which interest was paid
    on the outstanding notes.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Ranking</TD>
    <TD></TD>
    <TD valign="bottom">
    The exchange notes will be our senior unsecured obligations.
    Accordingly, they will rank:</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    &#149;&#160;equal in right of payment with all of our existing
    and future senior debt;</DIV>
</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->
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    <BR>
    4
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
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<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"><!-- TABLE 06 -->

<TR>
    <TD width="36%"></TD>
    <TD width="1%"></TD>
    <TD width="63%"></TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    &#149;&#160;effectively junior in right of payment to all of our
    existing and future secured indebtedness, including indebtedness
    under our credit agreement, to the extent of the value of the
    collateral securing such indebtedness;</DIV>
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    &#149;&#160;structurally junior in right of payment to all
    existing and future indebtedness and other liabilities,
    including trade payables, of any non-guarantor subsidiaries
    (other than indebtedness and liabilities owed to us, if any); and</DIV>
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    &#149;&#160;senior in right of payment to any of our future
    subordinated indebtedness.</DIV>
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Subsidiary Guarantees</TD>
    <TD></TD>
    <TD valign="bottom">
    The exchange notes will be jointly and severally guaranteed by
    all of our existing subsidiaries that guarantee indebtedness
    under our credit agreement and certain of our future
    subsidiaries, whom we refer to as &#147;our subsidiary
    guarantors.&#148; The subsidiary guarantees will rank:</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    &#149;&#160;equal in right of payment with all of the existing
    and future senior debt of our subsidiary guarantors, including
    their guarantees of our other senior debt;</DIV>
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    &#149;&#160;effectively junior in right of payment to all
    existing and future secured indebtedness of our subsidiary
    guarantors to the extent of the value of the collateral securing
    such indebtedness;</DIV>
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    &#149;&#160;structurally junior in right of payment to all
    existing and future indebtedness and other liabilities,
    including trade payables, of any of the guarantors&#146;
    non-guarantor subsidiaries (other than indebtedness and other
    liabilities owed to our subsidiary guarantors, if any); and</DIV>
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    &#149;&#160;senior in right of payment to any future
    subordinated indebtedness of our subsidiary guarantors.</DIV>
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Optional Redemption</TD>
    <TD></TD>
    <TD valign="bottom">
    We will have the option to redeem the notes, in whole or in
    part, at any time on or after December&#160;1, 2013 at the
    redemption prices described in this prospectus under the heading
    &#147;Description of Exchange Notes&#160;&#151; Optional
    Redemption,&#148; together with any accrued and unpaid interest
    to the date of redemption.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
    Prior to December&#160;1, 2013, we may redeem the notes, in
    whole or in part, at a &#147;make-whole&#148; redemption price
    described under &#147;Description of Exchange Notes&#160;&#151;
    Optional Redemption,&#148; together with any accrued and unpaid
    interest to the date of redemption.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Equity Offering Optional Redemption</TD>
    <TD></TD>
    <TD valign="bottom">
    Prior to December&#160;1, 2013, we may, at any time or from time
    to time, redeem up to 35% of the aggregate principal amount of
    the notes with the net proceeds of a public or private equity
    offering at 107.250% of the principal amount of the notes, plus
    any accrued and unpaid interest to the date of redemption, if at
    least 65% of the aggregate principal amount of the notes issued
    under the indenture remains outstanding after such redemption
    and the redemption occurs within 120&#160;days of the date of
    the closing of such equity offering.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Change of Control</TD>
    <TD></TD>
    <TD valign="bottom">
    If a change of control event occurs, each holder of notes may
    require us to repurchase all or a portion of its notes at a
    price equal to 101% of the principal amount of the exchange
    notes, plus any accrued and unpaid interest to the date of
    repurchase.</TD>
</TR>

</TABLE>
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    <BR>
    5
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"><!-- TABLE 06 -->

<TR>
    <TD width="36%"></TD>
    <TD width="1%"></TD>
    <TD width="63%"></TD>
</TR>

<TR>
    <TD valign="top">
    Certain Covenants</TD>
    <TD></TD>
    <TD valign="bottom">
    The indenture governing the notes contains covenants that, among
    other things, limit our ability and the ability of our
    restricted subsidiaries to:</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    &#149;&#160;pay distributions on, purchase or redeem our equity
    securities or redeem our subordinated debt;</DIV>
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    &#149;&#160;make investments;</DIV>
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    &#149;&#160;incur or guarantee additional indebtedness or issue
    preferred stock;</DIV>
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    &#149;&#160;create certain liens;</DIV>
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    &#149;&#160;sell assets;</DIV>
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    &#149;&#160;consolidate, merge or transfer all or substantially
    all of our assets;</DIV>
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    &#149;&#160;enter into agreements that restrict distributions or
    other payments from our restricted subsidiaries to us;</DIV>
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    &#149;&#160;engage in transactions with affiliates; and</DIV>
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    &#149;&#160;create unrestricted subsidiaries.</DIV>
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
    These covenants are subject to important exceptions and
    qualifications that are described under &#147;Description of
    Exchange Notes&#160;&#151; Certain Covenants.&#148; If the
    exchange notes achieve an investment grade rating from each of
    Moody&#146;s Investors Service, Inc. and Standard&#160;&#038;
    Poor&#146;s Ratings Services, many of these covenants will
    terminate.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
<DIV style="text-indent: -5%; margin-left: 5%">
    Transfer Restrictions; Absence of a Public Market for the Notes</DIV>
</TD>
    <TD></TD>
    <TD valign="bottom">
    The exchange notes generally will be freely transferable, but
    will also be new securities for which there will not initially
    be a market. We do not intend to make a trading market in the
    exchange notes after the exchange offer. Therefore, we cannot
    assure you as to the development of an active market for the
    exchange notes or as to the liquidity of any such market.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Form of Exchange Notes</TD>
    <TD></TD>
    <TD valign="bottom">
    The exchange notes will be represented initially by one or more
    global notes. The global exchange notes will be deposited with
    the trustee, as custodian for DTC.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <FONT style="white-space: nowrap">Same-Day</FONT>
    Settlement</TD>
    <TD></TD>
    <TD valign="bottom">
    The global exchange notes will be shown on, and transfers of the
    global exchange notes will be effected only through, records
    maintained in book-entry form by DTC and its direct and indirect
    participants.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
    The exchange notes are expected to trade in DTC&#146;s Same Day
    Funds Settlement System until maturity or redemption. Therefore,
    secondary market trading activity in the exchange notes will be
    settled in immediately available funds.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Trading</TD>
    <TD></TD>
    <TD valign="bottom">
    We do not expect to list the exchange notes for trading on any
    securities exchange.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
<DIV style="text-indent: -5%; margin-left: 5%">
    Trustee, Registrar and Exchange Agent</DIV>
</TD>
    <TD></TD>
    <TD valign="bottom">
    Wells Fargo Bank, National Association</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->
</DIV><!-- End box 1 -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    6
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"><!-- TABLE 06 -->

<TR>
    <TD width="36%"></TD>
    <TD width="1%"></TD>
    <TD width="63%"></TD>
</TR>

<TR>
    <TD valign="top">
    Governing Law</TD>
    <TD></TD>
    <TD valign="bottom">
    The exchange notes and the indenture relating to the exchange
    notes will be governed by, and construed in accordance with, the
    laws of the State of New York.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Use of Proceeds</TD>
    <TD></TD>
    <TD valign="bottom">
    We will not receive any cash consideration in the exchange offer.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Risk Factors</TD>
    <TD></TD>
    <TD valign="bottom">
    You should carefully consider all the information set forth in
    this prospectus and, in particular, the specific factors in the
    section of this prospectus entitled &#147;Risk Factors.&#148;</TD>
</TR>

</TABLE>

<A name='H84127106'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Ratio of
    Earnings to Fixed Charges</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The table below sets forth the Ratios of Earnings to Fixed
    Charges for us for each of the periods indicated. For purposes
    of this table, &#147;earnings&#148; are defined as income (loss)
    from continuing operations before taxes, adjusted for (income)
    loss of equity investees, fixed charges, amortization of
    capitalized interest, distributed (income) loss of equity
    investees and interest capitalized during the year. &#147;Fixed
    charges&#148; consist of interest, including capitalized
    interest, on all indebtedness, amortization of debt discounts
    and expenses incurred on issuances, and an estimate of the
    interest factor within rental expense.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"><!-- TABLE 01 -->
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="51%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="4%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="2%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="2%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="2%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="2%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Nine<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Months<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>September&#160;30,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="19" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Fiscal Year Ended December&#160;31,</B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2011(1)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010(2)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009(3)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008(4)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2007(5)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2006</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Ratio of Earnings to Fixed Charges</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.55
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"><!-- TABLE 06 -->

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    Due to a loss for the nine months ended September&#160;30, 2011,
    the ratio was less than 1:1. We would have had to generate
    additional pre-tax earnings of $321.6&#160;million to achieve
    coverage of 1:1. During the nine months ended September&#160;30,
    2011, we recorded goodwill impairment charges of
    $196.1&#160;million and long-lived asset impairment charges of
    $4.4&#160;million. For more information regarding these pre-tax
    charges, see Notes&#160;9 and 10 to the consolidated financial
    statements included in our quarterly report on Form
    <FONT style="white-space: nowrap">10-Q</FONT> for the
    period ended September&#160;30, 2011.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (2) </TD>
    <TD></TD>
    <TD valign="bottom">
    Due to a loss for the year ended December&#160;31, 2010, the
    ratio was less than 1:1. We would have had to generate
    additional pre-tax earnings of $224.7&#160;million to achieve
    coverage of 1:1. During the year, we recorded long-lived asset
    impairment charges of $146.9&#160;million. For more information
    regarding these pre-tax charges, see Note&#160;14 to the
    consolidated financial statements included in our annual report
    on
    <FONT style="white-space: nowrap">Form&#160;10-K</FONT>
    for the year ended December&#160;31, 2010.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (3) </TD>
    <TD></TD>
    <TD valign="bottom">
    Due to a loss for the year ended December&#160;31, 2009, the
    ratio was less than 1:1. We would have had to generate
    additional pre-tax earnings of $110.1&#160;million to achieve
    coverage of 1:1. During the year, we recorded a goodwill
    impairment charge of $150.8&#160;million, long-lived asset
    impairment charges of $97.0&#160;million and restructuring
    charges of $14.3&#160;million. For more information regarding
    these pre-tax charges, see Notes&#160;9, 14 and 15,
    respectively, to the consolidated financial statements included
    in our annual report on
    <FONT style="white-space: nowrap">Form&#160;10-K</FONT>
    for the year ended December&#160;31, 2010.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (4) </TD>
    <TD></TD>
    <TD valign="bottom">
    Due to a loss for the year ended December&#160;31, 2008, the
    ratio was less than 1:1. We would have had to generate
    additional pre-tax earnings of $963.7&#160;million to achieve
    coverage of 1:1. In the fourth quarter of 2008, we recorded a
    goodwill impairment charge of $1,148.4&#160;million and a
    long-lived asset impairment charge of $24.1&#160;million. For
    more information regarding these pre-tax charges, see
    Notes&#160;9 and 20, respectively, to the consolidated financial
    statements included in our annual report on
    <FONT style="white-space: nowrap">Form&#160;10-K</FONT>
    for the year ended December&#160;31, 2008.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (5) </TD>
    <TD></TD>
    <TD valign="bottom">
    Due to a loss for the year ended December&#160;31, 2007, the
    ratio was less than 1:1. We would have had to generate
    additional pre-tax earnings of $6.3&#160;million to achieve
    coverage of 1:1. During the year, we recorded debt
    extinguishment charges of $70.2&#160;million and an impairment
    to our fleet assets of $61.9&#160;million. For more information
    regarding these pre-tax charges, see Notes&#160;11 and 19,
    respectively, to the consolidated financial statements included
    in our annual report on
    <FONT style="white-space: nowrap">Form&#160;10-K</FONT>
    for the year ended December&#160;31, 2007.</TD>
</TR>

</TABLE>
</DIV><!-- End box 1 -->
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    7
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
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<A name='H84127107'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">RISK
    FACTORS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Before deciding to participate in the exchange offer, you
    should consider carefully the risks described below and in our
    annual report on
    <FONT style="white-space: nowrap">Form&#160;10-K</FONT>
    for the year ended December&#160;31, 2010 and our quarterly
    report on
    <FONT style="white-space: nowrap">Form&#160;10-Q</FONT>
    for the quarter ended September&#160;30, 2011, as updated by
    annual, quarterly and other reports and documents we file with
    the Commission after the date of this prospectus, in addition to
    the other information set forth elsewhere or incorporated by
    reference in this prospectus. While these are the risks and
    uncertainties we believe are most important for you to consider,
    you should know that they are not the only risks or
    uncertainties facing us or which may adversely affect our
    business. If any of the risks or uncertainties described below
    or incorporated by reference to this prospectus actually were to
    occur, our business, financial condition or results of
    operations could be affected materially and adversely.</I>
</DIV>

<A name='H84127108'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Risks
    Related to the Exchange Offer</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">If you
    fail to exchange outstanding notes, existing transfer
    restrictions will remain in effect and the market value of
    outstanding notes may be adversely affected because they may be
    more difficult to sell.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If you fail to exchange outstanding notes for exchange notes
    under the exchange offer, then you will continue to be subject
    to the existing transfer restrictions on the outstanding notes.
    In general, the outstanding notes may not be offered or sold
    unless they are registered or exempt from registration under the
    Securities Act and applicable state securities laws. Except in
    connection with this exchange offer or as required by the
    registration rights agreement, we do not intend to register
    resales of the outstanding notes.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The tender of outstanding notes under the exchange offer will
    reduce the principal amount of the currently outstanding notes.
    Due to the corresponding reduction in liquidity, this may have
    an adverse effect upon, and increase the volatility of, the
    market price of any currently outstanding notes that you
    continue to hold following completion of the exchange offer.
</DIV>

<A name='H84127109'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Risks
    Related to the Notes</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">The
    covenants in the indenture governing the notes impose, and
    covenants contained in agreements governing our other
    indebtedness impose, restrictions that may limit our operating
    and financial flexibility.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The indenture governing the notes contains a number of
    significant restrictions and covenants that limit our ability
    and the ability of our restricted subsidiaries to:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    incur liens and indebtedness or provide guarantees in respect of
    obligations of any other person;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    pay dividends or make distributions on our equity interests;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    make redemptions and repurchases of our equity interests;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    make loans and other investments;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    prepay, redeem or repurchase subordinated indebtedness;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    engage in mergers, consolidations and asset dispositions,
    including to the Partnership;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    engage in affiliate transactions;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    restrict distributions from certain subsidiaries.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our senior secured credit facility contains multiple
    restrictions and covenants. Further, our future indebtedness may
    contain covenants more restrictive in certain respects than the
    restrictions contained in the indenture governing the notes and
    our senior secured credit facility. Operating results below
    current levels or other adverse factors, including a significant
    increase in interest rates, could result in our being unable to
    comply with financial covenants that may be contained in any
    future indebtedness. If our indebtedness is in default for any
    reason, our business, financial condition and results of
    operations could be materially and adversely affected. In
    addition, complying with these covenants may also cause us to
    take actions that are not
</DIV>
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    <BR>
    8
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    favorable to holders of the notes and may make it more difficult
    for us to successfully execute our business strategy and compete
    against companies who are not subject to such restrictions.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Our
    ability to access the capital and credit markets to raise
    capital on favorable terms will be affected by our debt level
    and by any disruptions in the capital and credit
    markets.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The cost of raising money in the debt and equity capital markets
    has increased substantially while the availability of funds from
    those markets generally has diminished significantly. Also, as a
    result of concerns about the stability of financial markets and
    the solvency of counterparties specifically, the cost of
    obtaining money from the credit markets generally has increased
    as some major financial institutions have consolidated and
    others may consolidate in the future, and some lenders may
    increase interest rates, enact tighter lending standards, refuse
    to refinance existing debt at maturity on favorable terms or at
    all and may reduce or cease to provide funding to borrowers.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">We
    require a significant amount of cash to service our
    indebtedness, fund working capital and pay our debts as they
    become due. Our ability to generate cash depends on many factors
    beyond our control.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our ability to make payments on and to refinance our
    indebtedness, including the notes, and to fund planned capital
    expenditures depends on our ability to generate cash in the
    future. The ability to generate cash in the future is subject to
    our operational performance as well as general economic,
    financial, competitive, legislative, regulatory and other
    factors that are beyond our control.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We may not generate sufficient cash flow from operations and
    future borrowings may not be available to us under our credit
    agreement or otherwise in an amount sufficient to enable us to
    pay our indebtedness, including these notes, or to fund our
    other liquidity needs. We may need to refinance all or a portion
    of our indebtedness, including the notes, at or before maturity.
    We may not be able to refinance any of our indebtedness,
    including the notes, on commercially reasonable terms or at all.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Payment
    of principal and interest on the notes is effectively
    subordinated to our senior secured debt to the extent of the
    value of the assets securing the debt and structurally
    subordinated to the indebtedness of any of our subsidiaries that
    do not guarantee the notes.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The notes are our senior unsecured debt and rank equally in
    right of payment with all of our other existing and future
    unsubordinated debt. The notes are effectively junior to all our
    existing and future secured debt to the extent of the value of
    the assets securing the debt and structurally subordinated to
    any debt of our subsidiaries that do not guarantee the notes and
    to the existing and future secured debt of any subsidiaries that
    guarantee the notes to the extent of the value of the assets
    securing the debt. As of September&#160;30, 2011, we had
    $375.5&#160;million of secured indebtedness outstanding,
    consisting of our senior secured credit facility, and combined
    undrawn capacity of up to $507.9&#160;million under our
    revolving credit facility, subject to borrowing base
    limitations. However, due to certain covenant constraints in our
    senior secured credit agreement, only $196.4&#160;million of the
    $507.9&#160;million of undrawn capacity under our facility was
    available for additional borrowings as of September&#160;30,
    2011. Holders of our secured obligations, including obligations
    under our credit facility and term loan facility, will have
    claims that are prior to claims of holders of the notes with
    respect to the assets securing those obligations. In the event
    of a liquidation, dissolution, reorganization, bankruptcy or any
    similar proceeding, our assets and those of our subsidiaries
    will be available to pay obligations on the notes and the
    guarantees only after holders of our senior secured debt have
    been paid the value of the assets securing such debt.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In addition, although certain of our existing subsidiaries
    guarantee the notes, in the future, under certain circumstances,
    the guarantees are subject to release. In that case, and with
    respect to any of our subsidiaries that are not guarantors, the
    notes would be structurally junior to the claims of all
    creditors, including trade creditors and tort claimants, of our
    subsidiaries that are not guarantors. In the event of the
    liquidation, dissolution, reorganization, bankruptcy or similar
    proceeding of the business of a subsidiary that is not a
    guarantor, creditors of that subsidiary would generally have the
    right to be paid in full before any distribution is made to us
    or the holders of the notes. Accordingly, there may not be
    sufficient funds remaining to pay
</DIV>
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    <BR>
    9
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    amounts due on all or any of the notes. As of September&#160;30,
    2011, our non-guarantor subsidiaries had $544.0&#160;million of
    outstanding indebtedness.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Partnership and its subsidiaries are unrestricted
    subsidiaries under the indenture for the notes. As such they do
    not guarantee the notes and are not subject to the financial
    covenants in the indenture. Cash generated by the Partnership
    and its subsidiaries will not be available to make payments on
    the notes except to the extent that cash is distributed to us or
    our restricted subsidiaries, such as through quarterly
    distributions in respect of the common and subordinated units
    and general partner interest held by us and our restricted
    subsidiaries.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Despite
    our and our subsidiaries&#146; current level of indebtedness, we
    still may be able to incur substantially more indebtedness. This
    could further exacerbate the risks associated with our
    substantial indebtedness.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We and our subsidiaries may be able to incur substantial
    additional indebtedness in the future. The terms of the
    indenture governing the notes do not prohibit us or our
    subsidiaries from doing so. If we incur any additional
    indebtedness that ranks equally with the notes and the
    subsidiary guarantees, the holders of that indebtedness will be
    entitled to share ratably with the holders of the notes and the
    subsidiary guarantees in any proceeds distributed in connection
    with any insolvency, liquidation, reorganization, dissolution or
    other
    <FONT style="white-space: nowrap">winding-up</FONT>
    of us. This may have the effect of reducing the amount of
    proceeds paid to you. If new indebtedness is added to our
    current debt levels, the related risks that we and our
    subsidiaries now face could intensify.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">We may
    not be able to fund a change of control offer.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In the event of a change of control, we will be required,
    subject to certain conditions, to offer to purchase all
    outstanding notes at a price equal to 101% of the principal
    amount thereof, plus accrued and unpaid interest thereon to the
    date of purchase. If a change of control were to occur today, we
    would not have sufficient funds available to purchase all of the
    outstanding notes were they to be tendered in response to an
    offer made as a result of a change of control. We may not have
    sufficient funds available or be permitted by our debt
    instruments to fulfill these obligations upon a change of
    control in the future. Furthermore, certain change of control
    events would constitute an event of default under our credit
    facility, and we may not be able to obtain waivers from the
    lenders or refinance the credit facility. See &#147;Description
    of Exchange Notes&#160;&#151; Repurchase at the Option of
    Holders&#160;&#151; Change of Control.&#148;
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">The
    change of control put right might not be
    enforceable.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Chancery Court of Delaware has raised the possibility that a
    change of control put right occurring as a result of a failure
    to have &#147;continuing directors&#148; comprising a majority
    of a board of directors may be unenforceable on public policy
    grounds.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Many
    of the covenants contained in the indenture will terminate if
    the notes are rated investment grade by both
    Standard&#160;&#038; Poor&#146;s and Moody&#146;s and no default
    has occurred and is continuing.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Many of the covenants in the indenture governing the notes will
    terminate if the notes are rated investment grade by both
    Standard&#160;&#038; Poor&#146;s and Moody&#146;s provided at
    such time no default has occurred and is continuing. The
    covenants restrict, among other things, our ability to pay
    dividends, incur debt and to enter into certain other
    transactions. The notes may never be rated investment grade.
    However, termination of these covenants would allow us to engage
    in certain transactions that would not have been permitted while
    these covenants were in force, and the effects of any such
    transactions will be permitted to remain in place even if the
    notes are subsequently downgraded below investment grade. See
    &#147;Description of Exchange Notes&#160;&#151; Certain
    Covenants&#160;&#151; Covenant Termination.&#148;
</DIV>
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    <BR>
    10
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<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">A
    subsidiary guarantee could be voided if it constitutes a
    fraudulent transfer under U.S. bankruptcy or similar state law,
    which would prevent the holders of the notes from relying on
    that subsidiary to satisfy claims.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Certain of our domestic subsidiaries will guarantee the notes.
    Under U.S.&#160;bankruptcy law and comparable provisions of
    state fraudulent transfer laws, these subsidiary guarantees can
    be voided, or claims under the subsidiary guarantees may be
    subordinated to all other debts of a subsidiary guarantor if,
    among other things, the subsidiary guarantor, at the time it
    incurred the indebtedness evidenced by its guarantee or, in some
    states, when payments become due under the guarantee, received
    less than reasonably equivalent value or fair consideration for
    the incurrence of the guarantee and:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    was insolvent or rendered insolvent by reason of such incurrence;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    was engaged in a business or transaction for which the
    guarantor&#146;s remaining assets constituted unreasonably small
    capital;&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    intended to incur, or believed that it would incur, debts beyond
    its ability to pay those debts as they mature.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    A subsidiary guarantee of the notes may also be voided and
    required to be returned to the subsidiary guarantor, or to a
    fund for the benefit of the creditors of the subsidiary
    guarantor, without regard to the above factors, if a court finds
    that the subsidiary guarantor entered into the guarantee with
    the actual intent to hinder, delay or defraud its creditors.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The measures of insolvency for purposes of fraudulent transfer
    laws vary depending upon the governing law. Generally, a
    guarantor would be considered insolvent if:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the sum of its debts, including contingent liabilities, were
    greater than the fair saleable value of all its assets;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the present fair saleable value of its assets is less than the
    amount that would be required to pay its probable liability on
    its existing debts, including contingent liabilities, as they
    become absolute and mature;&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    it could not pay its debts as they become due.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If the subsidiary guarantor did not substantially benefit
    directly or indirectly from the issuance of the guarantee, a
    court would likely find that a subsidiary guarantor did not
    receive reasonably equivalent value or fair consideration for
    its guarantee. If a court were to void a subsidiary guarantee,
    you would no longer have a claim against the subsidiary
    guarantor. Sufficient funds to repay the notes may not be
    available from other sources, including the remaining subsidiary
    guarantors, if any. In addition, the court might direct you to
    repay any amounts that you already received from the subsidiary
    guarantor.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Each subsidiary guarantee contains a provision intended to limit
    the subsidiary guarantor&#146;s liability to the maximum amount
    that it could incur without causing the incurrence of
    obligations under its subsidiary guarantee to be a fraudulent
    conveyance under applicable law. Such provision may not be
    effective to protect the subsidiary guarantees from being voided
    under bankruptcy law.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">The
    Partnership is not a guarantor or a restricted subsidiary and,
    therefore, is not subject to the provisions of the indenture
    governing the notes.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    One of our principal strategies is to utilize the Partnership as
    our primary vehicle for long-term growth by offering the
    Partnership the opportunity to purchase the remainder of our
    U.S.&#160;contract operations business over time. The
    Partnership is not a guarantor of the notes or a restricted
    subsidiary subject to the terms of the indenture governing the
    notes. The Partnership may, among other things, sell all or
    substantially all of its assets or modify cash distributions
    without the consent of holders of the notes. In addition, the
    Partnership may, among other things, sell all or substantially
    all of its assets, including its partner interests in its
    unrestricted operating subsidiaries, without the consent of
    holders of the notes.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    11
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">We
    have a holding company structure in which our subsidiaries
    conduct our operations and own our operating
    assets.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We are a holding company, and our subsidiaries conduct all of
    our operations and own all of our operating assets. We have no
    significant assets other than the equity interests in our
    subsidiaries. As a result, our ability to make required payments
    on the notes depends on the performance of our subsidiaries and
    their ability to distribute funds to us. The ability of our
    subsidiaries to make distributions to us may be restricted by,
    among other things, applicable state partnership laws and other
    laws and regulations. If we are unable to obtain the funds
    necessary to pay the principal amount at maturity of the notes,
    or to repurchase the notes upon the occurrence of a change of
    control, we may be required to adopt one or more alternatives,
    such as a refinancing of the notes. We may not be able to
    refinance the notes.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Your
    ability to transfer the exchange notes may be limited by the
    absence of a trading market.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The exchange notes will be new securities for which currently
    there is no trading market. We do not currently intend to apply
    for listing of the notes on any securities exchange or stock
    market. The liquidity of any market for the exchange notes will
    depend on the number of holders of those notes, the interest of
    securities dealers in making a market in those notes and other
    factors. Accordingly, a market for the exchange notes may not
    develop or be liquid. Historically, the market for
    non-investment grade debt has been subject to disruptions that
    have caused substantial volatility in the prices of securities
    similar to the exchange notes. The market, if any, for the
    exchange notes may not be free from similar disruptions. Any
    such disruption may adversely affect the note holders.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Future trading prices of the exchange notes will depend on many
    factors, including:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our subsidiaries&#146; operating performance and financial
    condition;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the interest of the securities dealers in making a market in the
    notes (or exchange notes, if any);&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the market for similar securities.
</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    12
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='H84127110'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">USE OF
    PROCEEDS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The exchange offer is intended to satisfy our obligations under
    the registration rights agreement. We will not receive any cash
    proceeds from the issuance of the exchange notes in the exchange
    offer. In consideration for issuing the exchange notes as
    contemplated by this prospectus, we will receive outstanding
    notes in a like principal amount. The form and terms of the
    exchange notes are identical in all respects to the form and
    terms of the outstanding notes, except the exchange notes do not
    include certain transfer restrictions, registration rights or
    provisions for additional interest. Outstanding notes
    surrendered in exchange for the exchange notes will be retired
    and cancelled and will not be reissued. Accordingly, the
    issuance of the exchange notes will not result in any change in
    our outstanding indebtedness.
</DIV>

<A name='H84127111'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">RATIO OF
    EARNINGS TO FIXED CHARGES</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The table below sets forth the Ratios of Earnings to Fixed
    Charges for us for each of the periods indicated. For purposes
    of this table, &#147;earnings&#148; are defined as income (loss)
    from continuing operations before taxes, adjusted for (income)
    loss of equity investees, fixed charges, amortization of
    capitalized interest, distributed (income) loss of equity
    investees and interest capitalized during the year. &#147;Fixed
    charges&#148; consist of interest, including capitalized
    interest, on all indebtedness, amortization of debt discounts
    and expenses incurred on issuances, and an estimate of the
    interest factor within rental expense.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="49%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="5%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="2%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="2%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="2%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="2%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Nine<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Months<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>September&#160;30,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="19" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Fiscal Year Ended December&#160;31,</B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2011(1)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010(2)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009(3)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008(4)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2007(5)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2006</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Ratio of Earnings to Fixed Charges</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.55
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    Due to a loss for the nine months ended September&#160;30, 2011,
    the ratio was less than 1:1. We would have had to generate
    additional pre-tax earnings of $321.6&#160;million to achieve
    coverage of 1:1. During the nine months ended September&#160;30,
    2011, we recorded goodwill impairment charges of
    $196.1&#160;million and long-lived asset impairment charges of
    $4.4&#160;million. For more information regarding these pre-tax
    charges, see Notes&#160;9 and 10 to the consolidated financial
    statements included in our quarterly report on Form
    <FONT style="white-space: nowrap">10-Q</FONT> for the
    period ended September&#160;30, 2011.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (2) </TD>
    <TD></TD>
    <TD valign="bottom">
    Due to a loss for the year ended December&#160;31, 2010, the
    ratio was less than 1:1. We would have had to generate
    additional pre-tax earnings of $224.7&#160;million to achieve
    coverage of 1:1. During the year, we recorded long-lived asset
    impairment charges of $146.9&#160;million. For more information
    regarding these pre-tax charges, see Note&#160;14 to the
    consolidated financial statements included in our annual report
    on
    <FONT style="white-space: nowrap">Form&#160;10-K</FONT>
    for the year ended December&#160;31, 2010.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (3) </TD>
    <TD></TD>
    <TD valign="bottom">
    Due to a loss for the year ended December&#160;31, 2009, the
    ratio was less than 1:1. We would have had to generate
    additional pre-tax earnings of $110.1&#160;million to achieve
    coverage of 1:1. During the year, we recorded a goodwill
    impairment charge of $150.8&#160;million, long-lived asset
    impairment charges of $97.0&#160;million and restructuring
    charges of $14.3&#160;million. For more information regarding
    these pre-tax charges, see Notes&#160;9, 14 and 15,
    respectively, to the consolidated financial statements included
    in our annual report on
    <FONT style="white-space: nowrap">Form&#160;10-K</FONT>
    for the year ended December&#160;31, 2010.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (4) </TD>
    <TD></TD>
    <TD valign="bottom">
    Due to a loss for the year ended December&#160;31, 2008, the
    ratio was less than 1:1. We would have had to generate
    additional pre-tax earnings of $963.7&#160;million to achieve
    coverage of 1:1. In the fourth quarter of 2008, we recorded a
    goodwill impairment charge of $1,148.4&#160;million and a
    long-lived asset impairment charge of $24.1&#160;million. For
    more information regarding these pre-tax charges, see
    Notes&#160;9 and 20, respectively, to the consolidated financial
    statements included in our annual report on
    <FONT style="white-space: nowrap">Form&#160;10-K</FONT>
    for the year ended December&#160;31, 2008.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (5) </TD>
    <TD></TD>
    <TD valign="bottom">
    Due to a loss for the year ended December&#160;31, 2007, the
    ratio was less than 1:1. We would have had to generate
    additional pre-tax earnings of $6.3&#160;million to achieve
    coverage of 1:1. During the year, we recorded debt
    extinguishment charges of $70.2&#160;million and an impairment
    to our fleet assets of $61.9&#160;million. For more information
    regarding these pre-tax charges, see Notes&#160;11 and 19,
    respectively, to the consolidated financial statements included
    in our annual report on
    <FONT style="white-space: nowrap">Form&#160;10-K</FONT>
    for the year ended December&#160;31, 2007.</TD>
</TR>

</TABLE>
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    <BR>
    13
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<A name='H84127112'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">EXCHANGE
    OFFER</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We sold the outstanding notes on November&#160;23, 2010 pursuant
    to the purchase agreement, dated as of November&#160;18, 2010,
    by and among us, our subsidiary guarantors and the initial
    purchasers named therein. The outstanding notes were
    subsequently offered by the initial purchasers to qualified
    institutional buyers pursuant to Rule&#160;144A under the
    Securities Act and to
    <FONT style="white-space: nowrap">non-U.S.&#160;persons</FONT>
    pursuant to Regulation&#160;S under the Securities Act.
</DIV>

<A name='H84127113'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Purpose
    of the Exchange Offer</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We sold the outstanding notes in transactions that were exempt
    from or not subject to the registration requirements under the
    Securities Act. Accordingly, the outstanding notes are subject
    to transfer restrictions. In general, you may not offer or sell
    the outstanding notes unless either they are registered under
    the Securities Act or the offer or sale is exempt from or not
    subject to registration under the Securities Act and applicable
    state securities laws.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In connection with each sale of the outstanding notes, we
    entered into a registration rights agreement with the initial
    purchasers of the outstanding notes. We are offering the
    exchange notes under this prospectus in an exchange offer for
    the outstanding notes to satisfy our obligations under the
    registration rights agreement. The exchange offer will be open
    for at least 20 business days. During the exchange offer period,
    we will exchange the exchange notes for all outstanding notes
    properly surrendered and not withdrawn before the expiration
    date. The exchange notes will be registered and the transfer
    restrictions, registration rights and provisions for additional
    interest relating to the outstanding notes will not apply to the
    exchange notes.
</DIV>

<A name='H84127114'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Resale of
    Exchange Notes</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Based on no-action letters of the Commission staff issued to
    third parties, we believe that exchange notes may be offered for
    resale, resold and otherwise transferred by you without further
    compliance with the registration and prospectus delivery
    provisions of the Securities Act if:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    you are not an &#147;affiliate&#148; of us within the meaning of
    Rule&#160;405 under the Securities Act;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    such exchange notes are acquired in the ordinary course of your
    business;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    you do not intend to participate in a distribution of the
    exchange notes.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Commission staff, however, has not considered the exchange
    offer for the exchange notes in the context of a no-action
    letter, and the Commission staff may not make a similar
    determination as in the no-action letters issued to these third
    parties.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If you tender in the exchange offer with the intention of
    participating in any manner in a distribution of the exchange
    notes, you
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    cannot rely on such interpretations by the Commission
    staff;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    must comply with the registration and prospectus delivery
    requirements of the Securities Act in connection with a
    secondary resale transaction.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Unless an exemption from registration is otherwise available,
    any securityholder intending to distribute exchange notes should
    be covered by an effective registration statement under the
    Securities Act. The registration statement should contain the
    selling securityholder&#146;s information required by
    Item&#160;507 or 508, as applicable, of
    <FONT style="white-space: nowrap">Regulation&#160;S-K</FONT>
    under the Securities Act.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This prospectus may be used for an offer to resell, resale or
    other transfer of exchange notes only as specifically described
    in this prospectus. If you are a broker-dealer, you may
    participate in the exchange offer only if you acquired the
    outstanding notes as a result of market-making activities or
    other trading activities. Each broker- dealer that receives
    exchange notes for its own account in exchange for outstanding
    notes, where such outstanding notes were acquired by such
    broker-dealer as a result of market-making activities or other
    trading activities, must acknowledge by way of the letter of
    transmittal that it will deliver this prospectus in
</DIV>
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    <BR>
    14
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    connection with any resale of the exchange notes. Please read
    the section captioned &#147;Plan of Distribution&#148; for more
    details regarding the transfer of exchange notes.
</DIV>

<A name='H84127115'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Terms of
    the Exchange Offer</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Subject to the terms and conditions described in this prospectus
    and in the letter of transmittal, we will accept for exchange
    any outstanding notes properly tendered and not withdrawn prior
    to 5:00&#160;p.m., New York City time, on the expiration date of
    the exchange offer. We will issue exchange notes in principal
    amount equal to the principal amount of outstanding notes
    surrendered in the exchange offer. Outstanding notes may be
    tendered only for exchange notes and only in denominations of
    $2,000 and integral multiples of $1,000 in excess thereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The exchange offer is not conditioned upon any minimum aggregate
    principal amount of outstanding notes being tendered in the
    exchange offer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As of the date of this prospectus, $350,000,000 in aggregate
    principal amount of
    7<FONT style="vertical-align: text-top; font-size: 70%;">1</FONT>/<FONT style="font-size: 70%;">4</FONT>%&#160;Senior
    Notes due 2018 is outstanding. This prospectus is being sent to
    DTC, the sole registered holder of the outstanding notes, and to
    all persons that we can identify as beneficial owners of the
    outstanding notes. There will be no fixed record date for
    determining registered holders of outstanding notes entitled to
    participate in the exchange offer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We intend to conduct the exchange offer in accordance with the
    provisions of the registration rights agreement, the applicable
    requirements of the Securities Act and the Securities Exchange
    Act of 1934, as amended, or the &#147;Exchange Act,&#148; and
    the rules and regulations of the Commission. Outstanding notes
    whose holders do not tender for exchange in the exchange offer
    will remain outstanding and continue to accrue interest. These
    outstanding notes will be entitled to the rights and benefits
    such holders have under the indenture relating to the
    outstanding notes and the registration rights agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We will be deemed to have accepted for exchange properly
    tendered outstanding notes when we have given oral or written
    notice of the acceptance to the exchange agent and complied with
    the applicable provisions of the registration rights agreement.
    The exchange agent will act as agent for the tendering holders
    for the purposes of receiving the exchange notes from us.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If you tender outstanding notes in the exchange offer, you will
    not be required to pay brokerage commissions or fees or, subject
    to the letter of transmittal, transfer taxes with respect to the
    exchange of outstanding notes. We will pay all charges and
    expenses, other than certain applicable taxes described below,
    in connection with the exchange offer. Please read
    &#147;&#151;&#160;Fees and Expenses&#148; for more details
    regarding fees and expenses incurred in connection with the
    exchange offer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We will return any outstanding notes that we do not accept for
    exchange for any reason without expense to their tendering
    holders promptly after the expiration or termination of the
    exchange offer.
</DIV>

<A name='H84127116'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Expiration
    Date</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The exchange offer will expire at 5:00&#160;p.m., New York City
    time, on December&#160;6, 2011, unless, in our sole discretion,
    we extend&#160;it.
</DIV>

<A name='H84127117'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Extensions,
    Delays in Acceptance, Termination or Amendment</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We expressly reserve the right, at any time or various times, to
    extend the period of time during which the exchange offer is
    open. We may delay acceptance of any outstanding notes by giving
    oral or written notice of such extension to their holders at any
    time until the exchange offer expires or terminates. During any
    such extensions, all outstanding notes previously tendered will
    remain subject to the exchange offer, and we may accept them for
    exchange.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    To extend the exchange offer, we will notify the exchange agent
    orally or in writing of any extension. We will notify the
    holders of outstanding notes of the extension via a press
    release issued no later than 9:00&#160;a.m.&#160;New York City
    time on the business day after the previously scheduled
    expiration date.
</DIV>
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    <BR>
    15
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If any of the conditions described below under
    &#147;&#151;&#160;Conditions to the Exchange Offer&#148; have
    not been satisfied, we reserve the right, in our sole discretion
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    to delay accepting for exchange any outstanding notes,
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    to extend the exchange offer,&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    to terminate the exchange offer,
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    by giving oral or written notice of such delay, extension or
    termination to the exchange agent. Subject to the terms of the
    registration rights agreement, we also reserve the right to
    amend the terms of the exchange offer in any manner.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any such delay in acceptance, extension, termination or
    amendment will be followed promptly by oral or written notice
    thereof to holders of the outstanding notes. If we amend the
    exchange offer in a manner that we determine to constitute a
    material change, we will promptly disclose such amendment by
    means of a prospectus supplement. The prospectus supplement will
    be distributed to holders of the outstanding notes. Depending
    upon the significance of the amendment and the manner of
    disclosure to holders, we will extend the exchange offer if it
    would otherwise expire during such period. If an amendment
    constitutes a material change to the exchange offer, including
    the waiver of a material condition, we will extend the exchange
    offer, if necessary, to remain open for at least five business
    days after the date of the amendment. In the event of any
    increase or decrease in the consideration we are offering for
    the outstanding notes or in the percentage of outstanding notes
    being sought by us, we will extend the exchange offer to remain
    open for at least 10 business days after the date we provide
    notice of such increase or decrease to the registered holders of
    outstanding notes.
</DIV>

<A name='H84127118'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Conditions
    to the Exchange Offer</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We will not be required to accept for exchange, or exchange any
    exchange notes for, any outstanding notes if the exchange offer,
    or the making of any exchange by a holder of outstanding notes,
    would violate applicable law or Commission policy. Similarly, we
    may terminate the exchange offer as provided in this prospectus
    before accepting outstanding notes for exchange in the event of
    such a potential violation.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We will not be obligated to accept for exchange the outstanding
    notes of any holder that has not made to us the representations
    described under &#147;&#151;&#160;Procedures for Tendering&#148;
    and &#147;Plan of Distribution&#148; and such other
    representations as may be reasonably necessary under applicable
    Commission rules, regulations or interpretations to allow us to
    use an appropriate form to register the exchange notes under the
    Securities Act.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Additionally, we will not accept for exchange any outstanding
    notes tendered, and will not issue exchange notes in exchange
    for any such outstanding notes, if at such time any stop order
    has been threatened or is in effect with respect to the exchange
    offer registration statement of which this prospectus
    constitutes a part or the qualification of the indenture under
    the Trust&#160;Indenture Act of 1939.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We expressly reserve the right to amend or terminate the
    exchange offer, and to reject for exchange any outstanding notes
    not previously accepted for exchange, upon the occurrence of any
    of the conditions to the exchange offer specified above. We will
    promptly give oral or written notice of any extension,
    amendment, non-acceptance or termination to the holders of the
    outstanding notes.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    These conditions are for our sole benefit, and we may assert
    them or waive them in whole or in part at any time or at various
    times prior to the expiration of the exchange offer in our sole
    discretion. If we fail at any time to exercise any of these
    rights, this failure will not mean that we have waived our
    rights. Each such right will be deemed an ongoing right that we
    may assert at any time or at various times prior to the
    expiration of the exchange offer.
</DIV>

<A name='H84127119'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Procedures
    for Tendering</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    To participate in the exchange offer, you must properly tender
    your outstanding notes to the exchange agent as described below.
    We will issue exchange notes only in exchange for outstanding
    notes that you timely
</DIV>
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    <BR>
    16
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    and properly tender. Therefore, you should allow sufficient time
    to ensure timely delivery of the outstanding notes, and you
    should follow carefully the instructions on how to tender your
    outstanding notes. It is your responsibility to properly tender
    your outstanding notes. We have the right to waive any defects.
    However, we are not required to waive defects, and neither we
    nor the exchange agent is required to notify you of any defects
    in your tender.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If you have any questions or need help in exchanging your
    outstanding notes, please call the exchange agent whose address
    and phone number are described in the letter of transmittal
    included as Annex&#160;A to this prospectus.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    All of the outstanding notes were issued in book-entry form, and
    all of the outstanding notes are currently represented by global
    certificates registered in the name of Cede&#160;&#038; Co., the
    nominee of DTC. We have confirmed with DTC that the outstanding
    notes may be tendered using ATOP. The exchange agent will
    establish an account with DTC for purposes of the exchange offer
    promptly after the commencement of the exchange offer, and DTC
    participants may electronically transmit their acceptance of the
    exchange offer by causing DTC to transfer their outstanding
    notes to the exchange agent using the ATOP procedures. In
    connection with the transfer, DTC will send an
    &#147;agent&#146;s message&#148; to the exchange agent. The
    agent&#146;s message will state that DTC has received
    instructions from the participant to tender outstanding notes
    and that the participant agrees to be bound by the terms of the
    letter of transmittal.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    By using the ATOP procedures to exchange outstanding notes, you
    will not be required to deliver a letter of transmittal to the
    exchange agent. However, you will be bound by its terms just as
    if you had signed&#160;it.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    There is no procedure for guaranteed late delivery of the
    outstanding notes.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Determinations Under the Exchange Offer.</I>&#160;&#160;We
    will determine in our sole discretion all questions as to the
    validity, form, eligibility, time of receipt, acceptance of
    tendered outstanding notes and withdrawal of tendered
    outstanding notes. Our determination will be final and binding.
    We reserve the absolute right to reject any outstanding notes
    not properly tendered or any outstanding notes our acceptance of
    which would, in the opinion of our counsel, be unlawful. We also
    reserve the right to waive any defect, irregularities or
    conditions of tender as to particular outstanding notes. Our
    interpretation of the terms and conditions of the exchange
    offer, including the instructions in the letter of transmittal,
    will be final and binding on all parties. Unless waived, all
    defects or irregularities in connection with tenders of
    outstanding notes must be cured within such time as we shall
    determine. Although we intend to notify holders of defects or
    irregularities with respect to tenders of outstanding notes,
    neither we, the exchange agent nor any other person will incur
    any liability for failure to give such notification. Tenders of
    outstanding notes will not be deemed made until such defects or
    irregularities have been cured or waived. Any outstanding notes
    received by the exchange agent that are not properly tendered
    and as to which the defects or irregularities have not been
    cured or waived will be returned to the tendering holder
    promptly following the expiration date of the exchange.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>When We Will Issue Exchange Notes.</I>&#160;&#160;In all
    cases, we will issue exchange notes for outstanding notes that
    we have accepted for exchange under the exchange offer only
    after the exchange agent receives, prior to 5:00&#160;p.m., New
    York City time, on the expiration date,
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a book-entry confirmation of such outstanding notes into the
    exchange agent&#146;s account at DTC;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a properly transmitted agent&#146;s message.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Such notes will be issued promptly following the expiration or
    termination of the offer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Return of Outstanding Notes Not Accepted or
    Exchanged.</I>&#160;&#160;If we do not accept any tendered
    outstanding notes for exchange or if outstanding notes are
    submitted for a greater principal amount than the holder desires
    to exchange, the unaccepted or non-exchanged outstanding notes
    will be returned without expense to their tendering holder. Such
    non-exchanged outstanding notes will be credited to an account
    maintained with DTC. These actions will occur promptly after the
    expiration or termination of the exchange offer.
</DIV>
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    <BR>
    17
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Your Representations to Us.</I>&#160;&#160;By agreeing to be
    bound by the letter of transmittal, you will represent to us
    that, among other things:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    any exchange notes that you receive will be acquired in the
    ordinary course of your business;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    you are not engaged in and do not intend to engage in the
    distribution of the exchange notes;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    you have no arrangement or understanding with any person or
    entity to participate in the distribution of the exchange notes;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    you are not an &#147;affiliate,&#148; as defined in
    Rule&#160;405 under the Securities Act, of us or our subsidiary
    guarantors;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    if you are a broker-dealer that will receive exchange notes for
    your own account in exchange for outstanding notes, you acquired
    those outstanding notes as a result of market-making activities
    or other trading activities and you will deliver this
    prospectus, as required by law, in connection with any resale of
    the exchange notes.
</TD>
</TR>

</TABLE>

<A name='H84127120'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Withdrawal
    of Tenders</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Except as otherwise provided in this prospectus, you may
    withdraw your tender at any time prior to 5:00&#160;p.m., New
    York City time, on the expiration date of the exchange offer.
    For a withdrawal to be effective you must comply with the
    appropriate ATOP procedures. Any notice of withdrawal must
    specify the name and number of the account at DTC to be credited
    with withdrawn outstanding notes and otherwise comply with the
    ATOP procedures.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We will determine all questions as to the validity, form,
    eligibility and time of receipt of a notice of withdrawal. Our
    determination shall be final and binding on all parties. We will
    deem any outstanding notes so withdrawn not to have been validly
    tendered for exchange for purposes of the exchange offer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any outstanding notes that have been tendered for exchange but
    that are not exchanged for any reason will be credited to an
    account maintained with DTC for the outstanding notes. This
    return or crediting will take place promptly after withdrawal,
    rejection of tender, expiration or termination of the exchange
    offer. You may retender properly withdrawn outstanding notes by
    following the procedures described under
    &#147;&#151;&#160;Procedures for Tendering&#148; above at any
    time on or prior to the expiration date of the exchange offer.
</DIV>

<A name='H84127121'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Fees and
    Expenses</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We will bear the expenses of soliciting tenders. The principal
    solicitation is being made by mail; however, we may make
    additional solicitation by
    <FONT style="white-space: nowrap">e-mail,</FONT>
    telephone or in person by our officers and regular employees and
    those of our affiliates.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We have not retained any dealer-manager in connection with the
    exchange offer and will not make any payments to broker-dealers
    or others soliciting acceptances of the exchange offer. We will,
    however, pay the exchange agent reasonable and customary fees
    for its services and reimburse it for its related reasonable
    <FONT style="white-space: nowrap">out-of-pocket</FONT>
    expenses.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We will pay the cash expenses to be incurred in connection with
    the exchange offer. They include:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Commission registration fees;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    fees and expenses of the exchange agent and trustee;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    accounting and legal fees and printing costs;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    related fees and expenses.
</TD>
</TR>

</TABLE>

<A name='H84127122'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Transfer
    Taxes</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We will pay all transfer taxes, if any, applicable to the
    exchange of outstanding notes under the exchange offer. Each
    tendering holder, however, will be required to pay any transfer
    taxes, whether imposed on the
</DIV>
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    <BR>
    18
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    registered holder or any other person, that are imposed for any
    reason other than the exchange of outstanding notes under the
    exchange offer.
</DIV>

<A name='H84127123'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Consequences
    of Failure to Exchange</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If you do not exchange your outstanding notes for exchange notes
    under the exchange offer, the outstanding notes you hold will
    continue to be subject to the existing restrictions on transfer.
    In general, you may not offer or sell the outstanding notes
    except under an exemption from, or in a transaction not subject
    to, the Securities Act and applicable state securities laws. We
    do not intend to register outstanding notes under the Securities
    Act unless our registration rights agreement requires us to do
    so.
</DIV>

<A name='H84127124'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Accounting
    Treatment</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We will record the exchange notes in our accounting records at
    the same carrying value as the outstanding notes. This carrying
    value is the aggregate principal amount of the outstanding
    notes, as reflected in our accounting records on the date of
    exchange. Accordingly, we will not recognize any gain or loss
    for accounting purposes in connection with the exchange offer,
    other than the recognition of the fees and expenses of the
    offering as stated under &#147;&#151;&#160;Fees and
    Expenses.&#148;
</DIV>

<A name='H84127125'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Other</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Participation in the exchange offer is voluntary, and you should
    consider carefully whether to accept. You are urged to consult
    your financial and tax advisors in making your own decision on
    what action to take.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We may in the future seek to acquire untendered outstanding
    notes in open market or privately negotiated transactions,
    through subsequent exchange offers or otherwise. We have no
    present plans to acquire any outstanding notes that are not
    tendered in the exchange offer or to file a registration
    statement to permit resales of any untendered outstanding notes.
</DIV>

<A name='H84127126'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">DESCRIPTION
    OF EXCHANGE NOTES</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    You can find the definitions of certain terms used in this
    description under the caption &#147;Certain Definitions.&#148;
    In this description, the term &#147;Company,&#148;
    &#147;us,&#148; &#147;our&#148; or &#147;we&#148; refers only to
    Exterran Holdings, Inc. and not to any of its subsidiaries.
    References to the &#147;notes&#148; in this section of the
    prospectus include both the outstanding notes issued on
    November&#160;23, 2010 and the exchange notes, unless the
    context otherwise requires.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The exchange notes will be issued and the outstanding notes were
    issued under an indenture among the Company, the Guarantors and
    Wells Fargo Bank, National Association, as trustee. You can find
    the definitions of various terms used in the Description of
    Exchange Notes under &#147;&#151;&#160;Certain Definitions&#148;
    below.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following description is a summary of the material
    provisions of the indenture and the exchange notes. It does not
    restate those documents in their entirety. We urge you to read
    the indenture and the exchange notes because they, and not this
    description, define the rights of Holders of the notes. Certain
    defined terms used in this description but not defined below
    under &#147;&#151;&#160;Certain Definitions&#148; have the
    meanings assigned to them in the indenture.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If the exchange offer is consummated, holders of notes who do
    not exchange their notes for exchange notes will vote together
    with the Holders of the exchange notes for all relevant purposes
    under the indenture. In that regard, the indenture requires that
    certain actions by the Holders under the indenture (including
    acceleration after an Event of Default) must be taken, and
    certain rights must be exercised, by specified minimum
    percentages of the aggregate principal amount of all outstanding
    notes issued under the indenture. In determining whether Holders
    of the requisite percentage in principal amount have given any
    notice, consent or waiver or taken any other action permitted
    under the indenture, any notes that remain outstanding after the
    exchange offer will be aggregated with the exchange notes, and
    the Holders of these notes and the exchange notes will vote
    together as a single series for all such purposes. Accordingly,
    all references in this Description
</DIV>
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    <BR>
    19
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    of Exchange Notes to specified percentages in aggregate
    principal amount of the outstanding notes mean, at any time
    after the exchange offer for the notes is consummated, such
    percentage in aggregate principal amount of such notes and the
    exchange notes then outstanding.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The registered Holder of a note will be treated as the owner of
    it for all purposes. Only registered Holders will have rights
    under the indenture.
</DIV>

<A name='H84127127'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Brief
    Description of the Notes and the Subsidiary Guarantees</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>The Notes.</I>&#160;&#160;The notes will:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    be general unsecured obligations of the Company;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    be equal in right of payment with all existing and future Senior
    Debt of the Company;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    be effectively junior in right of payment to any secured
    Indebtedness of the Company, including Indebtedness under the
    Credit Agreement, to the extent of the value of the collateral
    securing such Indebtedness;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    rank senior in right of payment to any future subordinated
    Indebtedness of the Company;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    be unconditionally guaranteed by the Guarantors on a senior
    unsecured basis.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>The Subsidiary Guarantees.</I>&#160;&#160;The notes are
    currently guaranteed by all of the Company&#146;s Subsidiaries
    that guarantee its borrowings under the Credit Agreement, which
    provides the Company with a senior secured revolving credit
    facility.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Each guarantee of the notes:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    is a general unsecured obligation of the Guarantor;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    is equal in right of payment with all existing and future Senior
    Debt of that Guarantor;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    ranks effectively junior in right of payment to any secured
    Indebtedness of that Guarantor, including Indebtedness under the
    Credit Agreement, to the extent of the value of the collateral
    securing such Indebtedness;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    ranks senior in right of payment to any future subordinated
    Indebtedness of that Guarantor.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As of September&#160;30, 2011, the Company and the Guarantors
    had:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    total Senior Debt of approximately $1,165.1&#160;million,
    consisting of the notes, approximately $439.2&#160;million of
    outstanding convertible senior notes (net of unamortized
    discount), approximately $375.5&#160;million of secured Senior
    Debt outstanding under the Credit Agreement (excluding
    Indebtedness under Hedging Contracts and approximately
    $216.6&#160;million of outstanding letters of credit) and
    approximately $0.4&#160;million of other Senior Debt;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    no Indebtedness contractually subordinated to the notes or the
    guarantees, as applicable.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The indenture permits us and the Guarantors to incur additional
    Indebtedness, including additional Senior Debt.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    All of our existing Subsidiaries guarantee the notes, except our
    Foreign Subsidiaries, certain insignificant Domestic
    Subsidiaries and our Unrestricted Subsidiaries (which include
    the Partnership and its Subsidiaries), none of which is a
    guarantor of our borrowings under the Credit Agreement. Under
    the circumstances described below under the caption
    &#147;&#151;&#160;Certain Covenants&#160;&#151; Additional
    Subsidiary Guarantees,&#148; in the future one or more of our
    newly created or acquired Subsidiaries may not guarantee the
    notes. In the event of a bankruptcy, liquidation or
    reorganization of any of these non-guarantor Subsidiaries, the
    non-guarantor Subsidiaries will pay current outstanding
    obligations to the holders of their debt and their trade
    creditors before they will be able to distribute any of their
    assets to us. As of September&#160;30, 2011, our non-guarantor
    Subsidiaries had outstanding Indebtedness aggregating
    approximately $544.0&#160;million.
</DIV>
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    20
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As of the date of the indenture, all of our Subsidiaries, except
    the Partnership and its Subsidiaries, were &#147;Restricted
    Subsidiaries.&#148; Additionally, under the circumstances
    described below under the caption &#147;&#151;&#160;Certain
    Covenants&#160;&#151; Designation of Restricted and Unrestricted
    Subsidiaries,&#148; we will be permitted to designate certain of
    our other Subsidiaries as &#147;Unrestricted Subsidiaries.&#148;
    Our Unrestricted Subsidiaries will not be subject to many of the
    restrictive covenants in the indenture. Our Unrestricted
    Subsidiaries will not guarantee the notes. As of
    September&#160;30, 2011, the Unrestricted Subsidiaries had
    outstanding Indebtedness aggregating approximately
    $544.0&#160;million; held approximately 23% of our consolidated
    assets; and accounted for approximately 11% and (1%) of our
    consolidated revenues and net loss attributable to Exterran
    stockholders, respectively, for the nine months then ended.
</DIV>

<A name='H84127128'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Principal,
    Maturity and Interest</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company has issued notes with an initial maximum aggregate
    principal amount of $350.0&#160;million. In addition to the
    exchange notes offered hereby, the Company may issue additional
    notes from time to time. Any offering of additional notes is
    subject to the covenant described below under the caption
    &#147;&#151;&#160;Certain Covenants&#160;&#151; Incurrence of
    Indebtedness and Issuance of Preferred Stock.&#148; The
    outstanding notes and any additional notes subsequently issued
    under the indenture, together with the exchange notes, will be
    treated as a single class for all purposes under the indenture,
    including, without limitation, for waivers, amendments,
    redemptions and offers to purchase. The Company will issue notes
    in denominations of $2,000 and integral multiples of $1,000 in
    excess of $2,000. The notes will mature on December&#160;1, 2018.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Interest on the notes accrues at the rate of 7.250% per annum,
    and is payable semi-annually in arrears on June 1 and
    December&#160;1, commencing on June&#160;1, 2012. The Company
    will make each interest payment to the Holders of record on the
    May 15 and November 15 immediately preceding each interest
    payment date.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Interest on the notes accrues from November&#160;23, 2010 or, if
    interest has already been paid with respect to the outstanding
    notes or the exchange notes, from the date it was most recently
    paid. Interest will be computed on the basis of a
    <FONT style="white-space: nowrap">360-day</FONT> year
    comprised of twelve
    <FONT style="white-space: nowrap">30-day</FONT>
    months.
</DIV>

<A name='H84127129'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Methods
    of Receiving Payments on the Notes</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If a Holder has given wire transfer instructions to the Company,
    the Company will pay to an account in the United States all
    principal, interest and premium, if any, on that Holder&#146;s
    notes in accordance with those instructions. All other payments
    on the notes will be made at the office or agency of the paying
    agent and registrar within the City and State of New York unless
    the Company elects to make interest payments by check mailed to
    the Holders at their addresses set forth in the register of
    Holders.
</DIV>

<A name='H84127130'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Paying
    Agent and Registrar for the Notes</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The trustee will initially act as paying agent and registrar at
    its corporate trust office in New York City. The Company may
    change the paying agent or registrar without prior notice to the
    Holders of the notes, and the Company or any of its Subsidiaries
    may act as paying agent or registrar.
</DIV>

<A name='H84127131'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Transfer
    and Exchange</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    A Holder may transfer or exchange notes in accordance with the
    indenture. The registrar and the trustee may require a Holder to
    furnish appropriate endorsements and transfer documents in
    connection with a transfer of notes. No service charge will be
    imposed by the Company, the trustee or the registrar for any
    registration of transfer or exchange of notes, but Holders will
    be required to pay all taxes due on transfer. The Company is not
    required to transfer or exchange any note selected for
    redemption. Also, the Company is not required to transfer or
    exchange any note for a period of 15&#160;days before a
    selection of notes to be redeemed.
</DIV>

<A name='H84127132'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Subsidiary
    Guarantees</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Currently, all of our existing Subsidiaries that guarantee our
    Indebtedness under the Credit Agreement have guaranteed the
    notes on a senior unsecured basis. In the future, the Restricted
    Subsidiaries of the
</DIV>
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    <BR>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Company will be required to guarantee the notes under the
    circumstances described under &#147;&#151;&#160;Certain
    Covenants&#160;&#151; Additional Subsidiary Guarantees.&#148;
    These Subsidiary Guarantees are joint and several obligations of
    the Guarantors. The obligations of each Guarantor under its
    Subsidiary Guarantee will be limited as necessary to prevent
    that Subsidiary Guarantee from constituting a fraudulent
    conveyance under applicable law, although this limitation may
    not be effective to prevent the Subsidiary Guarantees from being
    voided in bankruptcy. See &#147;Risk Factors&#160;&#151; Risks
    Related to the Notes&#160;&#151; A subsidiary guarantee could be
    voided if it constitutes a fraudulent transfer under
    U.S.&#160;bankruptcy or similar state law, which would prevent
    the holders of the notes from relying on that subsidiary to
    satisfy claims.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    A Guarantor may not sell or otherwise dispose of all or
    substantially all of its properties or assets to, or consolidate
    with or merge with or into (whether or not such Guarantor is the
    surviving Person), another Person, other than the Company or
    another Guarantor, unless:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;immediately after giving effect to such transaction, no
    Default or Event of Default exists;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;either:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    a.&#160;the Person acquiring the properties or assets in any
    such sale or other disposition or the Person formed by or
    surviving any such consolidation or merger (if other than the
    Guarantor) unconditionally assumes, pursuant to a supplemental
    indenture substantially in the form specified in the indenture,
    all the obligations of that Guarantor under the notes, the
    indenture and its Subsidiary Guarantee on terms set forth
    therein;&#160;or
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    b.&#160;such transaction complies with the &#147;Asset
    Sales&#148; provisions of the indenture.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Subsidiary Guarantee of a Guarantor will be released:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;in connection with any sale or other disposition of all
    or substantially all of the properties or assets of that
    Guarantor (including by way of merger or consolidation) to a
    Person that is not (either before or after giving effect to such
    transaction) the Company or a Restricted Subsidiary of the
    Company, if the sale or other disposition complies with the
    &#147;Asset Sales&#148; provisions of the indenture;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;in connection with any sale or other disposition of
    Capital Stock of that Guarantor to a Person that is not (either
    before or after giving effect to such transaction) the Company
    or a Restricted Subsidiary of the Company, if the sale or other
    disposition complies with the &#147;Asset Sales&#148; provisions
    of the indenture and the Guarantor ceases to be a Restricted
    Subsidiary of the Company as a result of the sale or other
    disposition;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;if the Company designates any Restricted Subsidiary that
    is a Guarantor as an Unrestricted Subsidiary in accordance with
    the applicable provisions of the indenture;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;upon Legal Defeasance or Covenant Defeasance as
    described below under the caption &#147;&#151;&#160;Legal
    Defeasance and Covenant Defeasance&#148; or upon satisfaction
    and discharge of the indenture as described below under the
    caption &#147;&#151;&#160;Satisfaction and Discharge;&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;upon the liquidation or dissolution of such Guarantor
    provided no Default or Event of Default has occurred that is
    continuing;&#160;or
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;at such time as such Guarantor ceases to guarantee any
    other Indebtedness of the Company and any other Guarantor.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    See &#147;&#151;&#160;Repurchase at the Option of
    Holders&#160;&#151; Asset Sales.&#148;
</DIV>

<A name='H84127133'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Optional
    Redemption</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    At any time prior to December&#160;1, 2013, the Company may on
    any one or more occasions redeem up to 35% of the aggregate
    principal amount of the notes issued under the indenture, at a
    redemption price of 107.250% of the principal amount, plus
    accrued and unpaid interest, if any, to the redemption date
    (subject to the right of Holders of record on the relevant
    record date to receive interest due on an interest payment date
</DIV>
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    <BR>
    22
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    that is on or prior to the redemption date), with the net cash
    proceeds of one or more Equity Offerings by the Company,
    provided that:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;at least 65% of the aggregate principal amount of the
    notes issued under the indenture remains outstanding immediately
    after the occurrence of such redemption (excluding notes held by
    the Company and its Subsidiaries);&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;the redemption occurs within 120&#160;days of the date
    of the closing of each such Equity Offering.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On and after December&#160;1, 2013, the Company may redeem all
    or a part of the notes, at the redemption prices (expressed as
    percentages of principal amount) set forth below, plus accrued
    and unpaid interest, if any, on the notes to be redeemed to the
    applicable redemption date (subject to the right of Holders of
    record on the relevant record date to receive interest due on an
    interest payment date that is on or prior to the redemption
    date), if redeemed during the twelve-month period beginning on
    December 1 of the years indicated below:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="89%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="4%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Year</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Percentages</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2013
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    105.438
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2014
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    103.625
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2015
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    101.813
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2016 and thereafter
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100.000
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Prior to December&#160;1, 2013, the Company may redeem all or
    part of the notes, at a redemption price equal to the sum of:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;the principal amount thereof, plus
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;the Make Whole Premium at the redemption date,
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    plus accrued and unpaid interest, if any, to the redemption date
    (subject to the right of Holders of record on the relevant
    record date to receive interest due on an interest payment date
    that is on or prior to the redemption date).
</DIV>

<A name='H84127134'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Selection
    and Notice</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If less than all of the notes are to be redeemed at any time,
    the trustee will select notes for redemption as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;if the notes are listed on any national securities
    exchange, in compliance with the requirements of the principal
    national securities exchange on which the notes are
    listed;&#160;or
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;if the notes are not listed on any national securities
    exchange, on a pro rata basis (or, in the case of notes in
    global form, the Trustee will select notes for redemption based
    on DTC&#146;s method that most nearly approximates a pro rata
    selection).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    No notes of $2,000 or less can be redeemed in part. Notices of
    optional redemption will be mailed by first class mail at least
    30 but not more than 60&#160;days before the redemption date to
    each Holder of notes to be redeemed at its registered address,
    except that optional redemption notices may be mailed more than
    60&#160;days prior to a redemption date if the notice is issued
    in connection with a defeasance of the notes or a satisfaction
    and discharge of the indenture. Notices of redemption may not be
    conditional, except that any redemption pursuant to the first
    paragraph under the &#147;&#151;&#160;Optional Redemption&#148;
    section, may, at the Company&#146;s discretion, be subject to
    completion of the related Equity Offering.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If any note is to be redeemed in part only, the notice of
    redemption that relates to that note will state the portion of
    the principal amount of that note that is to be redeemed. A new
    note in principal amount equal to the unredeemed portion of the
    original note will be issued in the name of the Holder of notes
    upon cancellation of the original note.
</DIV>
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    <BR>
    23
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Notes called for redemption become due on the date fixed for
    redemption, and at the redemption price. On and after the
    redemption date, interest will cease to accrue on notes or
    portions of them called for redemption.
</DIV>

<A name='H84127135'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Mandatory
    Redemption</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Except as set forth below under &#147;&#151;&#160;Repurchase at
    the Option of Holders,&#148; the Company is not required to make
    mandatory redemption or sinking fund payments with respect to
    the notes or to repurchase the notes at the option of the
    Holders.
</DIV>

<A name='H84127136'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Repurchase
    at the Option of Holders</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Change
    of Control</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If a Change of Control occurs, unless the Company has previously
    or concurrently exercised its right to redeem all of the notes
    as described under &#147;&#151;&#160;Optional Redemption,&#148;
    each Holder of notes will have the right to require the Company
    to repurchase all or any part (equal to $2,000 or an integral
    multiple of $1,000 in excess of $2,000) of that Holder&#146;s
    notes pursuant to a cash tender offer (the &#147;Change of
    Control Offer&#148;) on the terms set forth in the indenture. In
    the Change of Control Offer, the Company will offer a payment in
    cash (&#147;Change of Control Payment&#148;) equal to 101% of
    the aggregate principal amount of notes repurchased plus accrued
    and unpaid interest, if any, on the notes repurchased, to the
    date of settlement (the &#147;Change of Control Settlement
    Date&#148;), subject to the right of Holders of record on the
    relevant record date to receive interest due on an interest
    payment date that is on or prior to the Change of Control
    Settlement Date. Within 30&#160;days following any Change of
    Control, unless the Company has previously or concurrently
    exercised its right to redeem all of the notes as described
    under &#147;&#151;&#160;Optional Redemption,&#148; the Company
    will mail a notice to each Holder and the trustee describing the
    transaction or transactions that constitute the Change of
    Control and offering to repurchase notes on the Change of
    Control Settlement Date specified in the notice, which date will
    be no earlier than 30&#160;days and no later than 60&#160;days
    from the date such notice is mailed, pursuant to the procedures
    required by the indenture and described in such notice.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company will comply with the requirements of
    <FONT style="white-space: nowrap">Rule&#160;14e-1</FONT>
    under the Exchange Act and any other securities laws and
    regulations thereunder to the extent those laws and regulations
    are applicable in connection with the repurchase of the notes as
    a result of a Change of Control. To the extent that the
    provisions of any securities laws or regulations conflict with
    the Change of Control provisions of the indenture, the Company
    will comply with the applicable securities laws and regulations
    and will not be deemed to have breached its obligations under
    the Change of Control provisions of the indenture by virtue of
    such conflict.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On or before the Change of Control Settlement Date, the Company
    will, to the extent lawful, accept for payment all notes or
    portions of notes properly tendered pursuant to the Change of
    Control Offer. Promptly after such acceptance, on the Change of
    Control Settlement Date the Company will:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;deposit with the paying agent an amount equal to the
    Change of Control Payment in respect of all notes or portions of
    notes properly tendered;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;deliver or cause to be delivered to the trustee the
    notes properly accepted together with an officers&#146;
    certificate stating the aggregate principal amount of notes or
    portions of notes being purchased by the Company.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On the Change of Control Settlement Date, the paying agent will
    mail to each Holder of notes properly tendered the Change of
    Control Payment for such notes (or, if all the notes are then in
    global form, make such payment through the facilities of DTC),
    and the trustee will authenticate and mail (or cause to be
    transferred by book entry) to each Holder a new note equal in
    principal amount to any unpurchased portion of the notes
    surrendered, if any; provided, however, that each new note will
    be in a principal amount of $2,000 or an integral multiple of
    $1,000 in excess of $2,000. The Company will publicly announce
    the results of the Change of Control Offer on or as soon as
    practicable after the Change of Control Settlement Date.
</DIV>
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    <BR>
    24
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Credit Agreement provides that certain change of control
    events with respect to the Company would constitute an event of
    default thereunder, entitling the lenders, among other things,
    to accelerate the maturity of all Indebtedness outstanding
    thereunder. Any future credit agreements or other agreements
    relating to Indebtedness to which the Company or any Guarantor
    becomes a party may contain similar restrictions and provisions.
    Prior to complying with any of the provisions of this
    &#147;Change of Control&#148; covenant, but in any event no
    later than the Change of Control Settlement Date, the Company or
    any Guarantor must either repay all of its other outstanding
    Senior Debt or obtain the requisite consents, if any, under all
    agreements governing such Senior Debt to permit the repurchase
    of notes required by this covenant.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The provisions described above that require the Company to make
    a Change of Control Offer following a Change of Control will be
    applicable whether or not any other provisions of the indenture
    are applicable. Except as described above with respect to a
    Change of Control, the indenture will not contain provisions
    that permit the Holders of the notes to require that the Company
    repurchase or redeem the notes in the event of a takeover,
    recapitalization or similar transaction.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company will not be required to make a Change of Control
    Offer upon a Change of Control if a third party makes the Change
    of Control Offer in the manner, at the time and otherwise in
    compliance with the requirements set forth in the indenture
    applicable to a Change of Control Offer made by the Company and
    purchases all notes properly tendered and not withdrawn under
    the Change of Control Offer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    A Change of Control Offer may be made in advance of a Change of
    Control, and conditioned upon the occurrence of the Change of
    Control, if a definitive agreement is in place for the Change of
    Control at the time of making the Change of Control Offer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The definition of Change of Control includes a phrase relating
    to the direct or indirect sale, lease, transfer, conveyance or
    other disposition of &#147;all or substantially all&#148; of the
    properties or assets of the Company and its Restricted
    Subsidiaries taken as a whole. Although there is a limited body
    of case law interpreting the phrase &#147;substantially
    all,&#148; there is no precise established definition of the
    phrase under applicable law. Accordingly, the ability of a
    Holder of notes to require the Company to repurchase its notes
    as a result of a sale, lease, transfer, conveyance or other
    disposition of less than all of the properties or assets of the
    Company and its Subsidiaries taken as a whole to another Person
    or group may be uncertain.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In the event that Holders of not less than 90% of the aggregate
    principal amount of the outstanding notes accept a Change of
    Control Offer and the Company purchases all of the notes held by
    such Holders, the Company will have the right, upon not less
    than 30 nor more than 60&#160;days&#146; prior notice, given not
    more than 30&#160;days following the purchase pursuant to the
    Change of Control Offer described above, to redeem all of the
    notes that remain outstanding following such purchase at a
    redemption price equal to the Change of Control Payment plus, to
    the extent not included in the Change of Control Payment,
    accrued and unpaid interest on the notes that remain
    outstanding, to the date of redemption (subject to the right of
    Holders of record on the relevant record date to receive
    interest due on an interest payment date that is on or prior to
    the redemption date).
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Asset
    Sales</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company will not, and will not permit any of its Restricted
    Subsidiaries to, consummate an Asset Sale unless:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;the Company (or a Restricted Subsidiary, as the case may
    be) receives consideration at the time of the Asset Sale at
    least equal to the fair market value of the assets or Equity
    Interests issued or sold or otherwise disposed of;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;the fair market value is determined by (a)&#160;an
    executive officer of the Company if the value is less than
    $75.0&#160;million and evidenced by an officers&#146;
    certificate delivered to the trustee, or (b)&#160;the
    Company&#146;s Board of Directors if the value is
    $75.0&#160;million or more and evidenced by a resolution of the
    Board of Directors set forth in an officers&#146; certificate
    delivered to the trustee;&#160;and
</DIV>
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;at least 75% of the aggregate consideration received by
    the Company and its Restricted Subsidiaries in the Asset Sale
    and all other Asset Sales since the date of the indenture is in
    the form of cash, Cash Equivalents or Additional Assets. For
    purposes of this provision, each of the following will be deemed
    to be cash:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    a.&#160;any liabilities, as shown on the Company&#146;s or any
    Restricted Subsidiary&#146;s most recent balance sheet, of the
    Company or such Subsidiary (other than contingent liabilities
    and liabilities that are by their terms subordinated to the
    notes or any Subsidiary Guarantee) that are assumed by the
    transferee of any such assets pursuant to a customary novation
    or assumption agreement that releases the Company or such
    Subsidiary from further liability;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    b.&#160;any securities, notes or other obligations received by
    the Company or any Restricted Subsidiary from such transferee
    that are, within 90&#160;days after the Asset Sale, converted by
    the Company or such Subsidiary into cash, to the extent of the
    cash received in that conversion.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Within 360&#160;days after the receipt of any Net Proceeds from
    an Asset Sale (or 720&#160;days after the receipt of any Net
    Proceeds by any Foreign Subsidiary from an Asset Sale), the
    Company or any Restricted Subsidiary may apply those Net
    Proceeds at its option to any combination of the following:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;to repay secured Indebtedness and, if no secured
    Indebtedness is then outstanding, to repay any other Senior Debt;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;to invest in Additional Assets;&#160;or
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;to make capital expenditures in respect of any Permitted
    Business of the Company or any of its Restricted Subsidiaries.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Pending the final application of any Net Proceeds, the Company
    or any Restricted Subsidiary may invest the Net Proceeds in any
    manner that is not prohibited by the indenture. Any Net Proceeds
    from Asset Sales that are not applied or invested as provided in
    the preceding paragraph will constitute &#147;Excess
    Proceeds.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On the 361st&#160;day after the Asset Sale (or the
    721st&#160;day after an Asset Sale by any Foreign Subsidiary,
    or, in either case and at the Company&#146;s option, any earlier
    date), if the aggregate amount of Excess Proceeds then exceeds
    $50.0&#160;million, the Company will make an offer (an
    &#147;Asset Sale Offer&#148;) to all Holders of notes and all
    holders of other Indebtedness that is pari passu with the notes
    containing provisions similar to those set forth in the
    indenture with respect to offers to purchase or redeem with the
    proceeds of sales of assets, to purchase the maximum principal
    amount of notes and such pari passu Indebtedness that may be
    purchased out of the Excess Proceeds. The offer price in any
    Asset Sale Offer will be equal to 100% of the principal amount
    plus accrued and unpaid interest, if any, to the date of
    settlement, subject to the right of Holders of record on the
    relevant record date to receive interest due on an interest
    payment date that is on or prior to the date of settlement, and
    will be payable in cash. If any Excess Proceeds remain after
    consummation of an Asset Sale Offer, the Company or any
    Restricted Subsidiary may use those Excess Proceeds for any
    purpose not otherwise prohibited by the indenture. If the
    aggregate principal amount of notes and pari passu Indebtedness
    tendered into such Asset Sale Offer exceeds the amount of Excess
    Proceeds, the trustee will select the notes and such pari passu
    Indebtedness to be purchased on a pro rata basis. Upon
    completion of each Asset Sale Offer, the amount of Excess
    Proceeds will be reset at zero.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company will comply with the requirements of
    <FONT style="white-space: nowrap">Rule&#160;14e-1</FONT>
    under the Exchange Act and any other securities laws and
    regulations thereunder to the extent those laws and regulations
    are applicable in connection with each repurchase of notes
    pursuant to an Asset Sale Offer. To the extent that the
    provisions of any securities laws or regulations conflict with
    the &#147;Asset Sales&#148; provisions of the indenture, the
    Company will comply with the applicable securities laws and
    regulations and will not be deemed to have breached its
    obligations under the &#147;Asset Sales&#148; provisions of the
    indenture by virtue of such conflict.
</DIV>
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<A name='H84127137'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Certain
    Covenants</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Restricted
    Payments</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company will not, and will not permit any of its Restricted
    Subsidiaries to, directly or indirectly:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;declare or pay any dividend or make any other payment or
    distribution on account of the Company&#146;s or any of its
    Restricted Subsidiaries&#146; Equity Interests (including,
    without limitation, any payment in connection with any merger or
    consolidation involving the Company or any of its Restricted
    Subsidiaries) or to the direct or indirect holders of the
    Company&#146;s or any of its Restricted Subsidiaries&#146;
    Equity Interests in their capacity as such (other than dividends
    or distributions payable in Equity Interests (other than
    Disqualified Stock) of the Company or payable to the Company or
    a Restricted Subsidiary of the Company);
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;purchase, redeem or otherwise acquire or retire for
    value (including, without limitation, in connection with any
    merger or consolidation involving the Company) any Equity
    Interests of the Company or any direct or indirect parent of the
    Company;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;make any payment on or with respect to, or purchase,
    redeem, defease or otherwise acquire or retire for value any
    Indebtedness that is subordinated to the notes or the Subsidiary
    Guarantees (excluding any intercompany Indebtedness between or
    among the Company and any of its Restricted Subsidiaries),
    except a payment of interest or principal within one month of
    the Stated Maturity thereof,&#160;or
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;make any Restricted Investment (all such payments and
    other actions set forth in these clauses&#160;(1) through
    (4)&#160;above being collectively referred to as
    &#147;Restricted Payments&#148;),
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    unless, at the time of and after giving effect to such
    Restricted Payment:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;no Default or Event of Default will have occurred and be
    continuing or would occur as a consequence thereof;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;the Company would, at the time of such Restricted
    Payment and after giving pro forma effect thereto as if such
    Restricted Payment had been made at the beginning of the
    applicable four-quarter period, have been permitted to Incur at
    least $1.00 of additional Indebtedness pursuant to the Fixed
    Charge Coverage Ratio test set forth in the first paragraph of
    the covenant described below under the caption
    &#147;&#151;&#160;Incurrence of Indebtedness and Issuance of
    Preferred Stock&#148;;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;such Restricted Payment, together with the aggregate
    amount of all other Restricted Payments made by the Company and
    its Restricted Subsidiaries after the Issue Date (excluding
    Restricted Payments permitted by clauses&#160;(2) through (10),
    inclusive, of the next succeeding paragraph), is less than the
    sum, without duplication, of the following (the &#147;Restricted
    Payments Basket&#148;):
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    a.&#160;100% of the Consolidated Cash Flow of the Company for
    the period (taken as one accounting period) from the beginning
    of the first fiscal quarter during which the Issue Date falls to
    the end of the Company&#146;s most recently ended fiscal quarter
    for which internal financial statements are available at the
    time of such Restricted Payment, less the product of 1.4 times
    the Company&#146;s Fixed Charges for the same period, <I>plus</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    b.&#160;100% of the aggregate net cash proceeds and the fair
    market value of assets other than cash received by the Company
    since the Issue Date (i)&#160;as a contribution to its common
    equity capital or from the issue or sale of Equity Interests
    (other than Disqualified Stock) of the Company or (ii)&#160;from
    the issue or sale of convertible or exchangeable Disqualified
    Stock or convertible or exchangeable debt securities of the
    Company that have been converted into or exchanged for such
    Equity Interests (other than Equity Interests (or Disqualified
    Stock or debt securities) sold to a Subsidiary of the Company,
    <I>plus</I>
</DIV>
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<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    c.&#160;the amount equal to the aggregate net reduction in
    Restricted Investments made by the Company or any of its
    Restricted Subsidiaries in any Person after the Issue Date
    resulting from:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 13%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    i.&#160;repurchases, repayments or redemptions of such
    Restricted Investments by such Person, proceeds realized upon
    the sale of any such Restricted Investment, repayments of loans
    or advances or other transfers of assets (including by way of
    dividend or distribution) by such Person to the Company or any
    Restricted Subsidiary;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 13%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    ii.&#160;the redesignation of Unrestricted Subsidiaries as
    Restricted Subsidiaries not to exceed the amount of Investments
    previously made by the Company or any Restricted Subsidiary in
    such Unrestricted Subsidiary, which amount in each case under
    this clause&#160;(c) was included in the calculation of the
    amount of the Restricted Payments Basket; provided, however,
    that no amount will be included under this clause&#160;(c) to
    the extent it is already included in Consolidated Cash Flow of
    the Company;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 13%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    iii.&#160;the sale by the Company or any Restricted Subsidiary
    (other than to the Company or a Restricted Subsidiary) of all or
    a portion of the Capital Stock of an Unrestricted Subsidiary or
    a distribution from an Unrestricted Subsidiary or a dividend
    from an Unrestricted Subsidiary (whether any such distribution
    or dividend is made with proceeds from the issuance by such
    Unrestricted Subsidiary of its Capital Stock or otherwise), plus
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    d.&#160;the amount by which Indebtedness of the Company or its
    Restricted Subsidiaries is reduced on the Company&#146;s
    consolidated balance sheet upon the conversion or exchange
    subsequent to the Issue Date of any Indebtedness of the Company
    or its Restricted Subsidiaries convertible or exchangeable for
    Capital Stock (other than Disqualified Stock) of the Company
    (less the amount of any cash or the fair market value of any
    other property (other than such Capital Stock) distributed by
    the Company upon such conversion or exchange) plus the amount of
    any cash received by the Company or any of its Restricted
    Subsidiaries upon such conversion or exchange.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The preceding provisions will not prohibit:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;the payment of any dividend or other distribution within
    60&#160;days after the date of its declaration, if at the date
    of declaration the payment would have complied with the
    provisions of the indenture;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;the purchase, redemption, defeasance or other
    acquisition or retirement of any subordinated Indebtedness of
    the Company or any Guarantor or of any Equity Interests of the
    Company in exchange for, or out of the net cash proceeds of the
    substantially concurrent (a)&#160;contribution (other than from
    a Restricted Subsidiary of the Company) to the equity capital of
    the Company or (b)&#160;sale (other than to a Restricted
    Subsidiary of the Company) of, Equity Interests of the Company
    (other than Disqualified Stock), with a sale being deemed
    substantially concurrent if such purchase, redemption,
    defeasance or other acquisition or retirement occurs not more
    than 120&#160;days after such sale; provided, however, that the
    amount of any such net cash proceeds that are utilized for any
    such purchase, redemption, defeasance or other acquisition or
    retirement will be excluded (or deducted, if included) from the
    calculation of any amount pursuant to clause&#160;3b above;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;the purchase, redemption, defeasance or other
    acquisition or retirement of subordinated Indebtedness of the
    Company or any Guarantor with the net cash proceeds from an
    incurrence of, or in exchange for, Permitted Refinancing
    Indebtedness;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;the payment of any dividend or other distribution by a
    Restricted Subsidiary of the Company to the holders of its
    Equity Interests on a pro rata basis;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;so long as no Default has occurred and is continuing,
    the purchase, redemption or other acquisition or retirement for
    value of any Equity Interests of the Company or any Restricted
    Subsidiary of the Company pursuant to any director or employee
    equity subscription agreement or stock option agreement or other
    employee benefit plan or to satisfy obligations under any Equity
    Interests appreciation rights or option plan or similar
    arrangement; provided, however, that the aggregate price paid
    for all such purchased, redeemed, acquired or retired Equity
    Interests may not exceed $5.0&#160;million in any calendar
</DIV>
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    year, with any portion of such $5.0&#160;million amount that is
    unused in any calendar year to be carried forward to successive
    calendar years and added to such amount;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;the purchase, repurchase, redemption or other
    acquisition or retirement for value of Equity Interests deemed
    to occur upon the exercise of stock options, warrants,
    incentives, rights to acquire Equity Interests or other
    convertible securities if such Equity Interests represent a
    portion of the exercise or exchange price thereof, and any
    purchase, repurchase, redemption or other acquisition or
    retirement for value of Equity Interests made in lieu of
    withholding taxes in connection with any exercise, vesting or
    exchange of stock options, warrants, incentives or Equity
    Interests;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;payments or distributions to dissenting stockholders
    pursuant to applicable law or in connection with the settlement
    or other satisfaction of legal claims made pursuant to or in
    connection with a consolidation, merger or transfer of assets;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.&#160;cash payments in lieu of the issuance of fractional
    shares;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.&#160;so long as no Default has occurred and is continuing,
    the declaration and payment of scheduled or accrued dividends to
    holders of any class of or series of Disqualified Stock of the
    Company issued on or after the Issue Date in accordance with the
    covenant captioned &#147;&#151;&#160;Incurrence of Indebtedness
    and Issuance of Preferred Stock&#148;, to the extent such
    dividends are included in Fixed Charges;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.&#160;other Restricted Payments made since the Issue Date in
    an aggregate amount not in excess of $150.0&#160;million;&#160;or
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    11.&#160;so long as no Default has occurred and is continuing,
    the purchase, repurchase, redemption, defeasance or other
    acquisition or retirement for value of any subordinated
    Indebtedness of the Company or a Restricted Subsidiary
    (i)&#160;at a purchase price not greater than 101% of the
    principal amount of such subordinated Indebtedness of the
    Company or a Restricted Subsidiary in the event of a Change of
    Control in accordance with provisions similar to the covenant
    described under &#147;&#151;&#160;Repurchase at the Option of
    Holders&#160;&#151; Change of Control&#148; or (ii)&#160;at a
    purchase price not greater than 100% of the principal amount
    thereof in accordance with provisions similar to the covenant
    described under &#147;&#151;&#160;Repurchase at the Option of
    Holders&#160;&#151; Asset Sales&#148;; provided that, prior to
    or simultaneously with such purchase, repurchase, redemption,
    defeasance or other acquisition or retirement, the Company has
    made the Change of Control Offer or Asset Sale Offer, as
    applicable, as provided in such covenant with respect to the
    notes and has completed the repurchase or redemption of all
    notes validly tendered for payment in connection with such
    Change of Control Offer or Asset Sale Offer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The amount of all Restricted Payments (other than cash) will be
    the fair market value, on the date of the Restricted Payment, of
    the Restricted Investment proposed to be made or the asset(s) or
    securities proposed to be transferred or issued by the Company
    or such Restricted Subsidiary, as the case may be, pursuant to
    the Restricted Payment. Not later than the date of making any
    Restricted Payment that has the effect of reducing the
    Restricted Payments Basket by at least $25.0&#160;million, the
    Company will deliver to the trustee an officers&#146;
    certificate stating that such Restricted Payment is permitted
    and setting forth the amount of the Restricted Payments Basket
    after giving effect to such Restricted Payment.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In the event that a Restricted Payment meets the criteria of
    more than one of the exceptions described in (1)&#160;through
    (11)&#160;above or is entitled to be made pursuant to the first
    paragraph above, the Company shall, in its sole discretion,
    classify such Restricted Payment.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Incurrence
    of Indebtedness and Issuance of Preferred Stock</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company will not, and will not permit any of its Restricted
    Subsidiaries to, directly or indirectly, create, incur, issue,
    assume, guarantee or otherwise become directly or indirectly
    liable, contingently or otherwise, with respect to
    (collectively, &#147;incur&#148;) any Indebtedness (including
    Acquired Debt); the Company will not, and will not permit any of
    its Restricted Subsidiaries to, issue any Disqualified Stock;
    and the Company will not permit any of its Restricted
    Subsidiaries to issue any other preferred securities; provided,
    however, that the Company and any of its Restricted Subsidiaries
    may incur Indebtedness (including Acquired
</DIV>
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    <BR>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Debt) or issue Disqualified Stock, and any Restricted Subsidiary
    may issue other preferred securities, if, for the Company&#146;s
    most recently ended four full fiscal quarters for which internal
    financial statements are available immediately preceding the
    date on which such additional Indebtedness is incurred or such
    Disqualified Stock or other preferred securities are issued, the
    Fixed Charge Coverage Ratio would have been at least 2.0 to 1.0,
    determined on a pro forma basis (including a pro forma
    application of the net proceeds therefrom), as if the additional
    Indebtedness had been incurred or Disqualified Stock or other
    preferred securities had been issued, as the case may be, at the
    beginning of such four-quarter period.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The first paragraph of this covenant will not prohibit the
    incurrence of any of the following items of Indebtedness
    (collectively, &#147;Permitted Debt&#148;) or the issuance of
    any preferred securities described in clause&#160;(11) below:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;the incurrence by the Company or any of its Restricted
    Subsidiaries of additional Indebtedness under one or more Credit
    Facilities, provided that, after giving effect to any such
    incurrence, the aggregate principal amount of all Indebtedness
    incurred under this clause (1) (with letters of credit being
    deemed to have a principal amount equal to the maximum potential
    liability of the Company and its Subsidiaries thereunder) and
    then outstanding does not exceed the greater of
    (a)&#160;$2,450&#160;million or (b)&#160;$1,300&#160;million
    plus 20.0% of the Company&#146;s Consolidated Net Tangible
    Assets;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;the incurrence by the Company or its Restricted
    Subsidiaries of the Existing Indebtedness;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;the incurrence by the Company and the Guarantors of
    Indebtedness represented by (a)&#160;the outstanding notes and
    the related Subsidiary Guarantees issued on the date of the
    indenture and (b)&#160;the exchange notes and the related
    Subsidiary Guarantees issued pursuant to any registration rights
    agreement;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;the incurrence by the Company or any of its Restricted
    Subsidiaries of Indebtedness represented by Capital Lease
    Obligations, mortgage financings or purchase money obligations,
    in each case, incurred for the purpose of financing all or any
    part of the purchase price or cost of construction or
    improvement of property, plant or equipment used in the business
    of the Company or any of its Restricted Subsidiaries, including
    all Permitted Refinancing Indebtedness incurred to renew,
    refund, refinance, replace, defease or discharge any
    Indebtedness incurred pursuant to this clause (4), provided that
    after giving effect to such incurrence the aggregate principal
    amount of all Indebtedness incurred pursuant to this
    clause&#160;(4) and then outstanding does not exceed the greater
    of (a)&#160;$100.0&#160;million and (b)&#160;2.5% of the
    Company&#146;s Consolidated Net Tangible Assets;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;the incurrence by the Company or any of its Restricted
    Subsidiaries of Permitted Refinancing Indebtedness in exchange
    for, or the net proceeds of which are used to, extend,
    refinance, renew, replace, defease or refund Indebtedness that
    was permitted by the indenture to be incurred under the first
    paragraph of this covenant or clause&#160;(2) or (3)&#160;of
    this paragraph or this clause (5);
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;the incurrence by the Company or any of its Restricted
    Subsidiaries of intercompany Indebtedness between or among the
    Company and any of its Restricted Subsidiaries; provided,
    however, that:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    a.&#160;if the Company is the obligor on such Indebtedness and a
    Guarantor is not the obligee, such Indebtedness must be
    expressly subordinated to the prior payment in full in cash of
    all Obligations with respect to the notes, or if a Guarantor is
    the obligor on such Indebtedness and neither the Company nor
    another Guarantor is the obligee, such Indebtedness must be
    expressly subordinated to the prior payment in full in cash of
    all Obligations with respect to the Subsidiary Guarantee of such
    Guarantor;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    b.&#160;(i)&#160;any subsequent issuance or transfer of Equity
    Interests that results in any such Indebtedness being held by a
    Person other than the Company or a Restricted Subsidiary of the
    Company and (ii)&#160;any sale or other transfer of any such
    Indebtedness to a Person that is neither the Company nor a
    Restricted Subsidiary of the Company will be deemed, in each
    case, to constitute an incurrence of such Indebtedness by the
    Company or such Restricted Subsidiary, as the case may be, that
    was not permitted by this clause (6);
</DIV>
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    <BR>
    30
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;the incurrence by the Company or any of its Restricted
    Subsidiaries of obligations under Hedging Contracts;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.&#160;the guarantee by the Company or any of its Restricted
    Subsidiaries of Indebtedness of the Company or any of its
    Restricted Subsidiaries that was permitted to be incurred by
    another provision of this covenant;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.&#160;the incurrence by any Foreign Subsidiary of additional
    Indebtedness, including all Permitted Refinancing Indebtedness
    incurred to extend, refinance, renew, replace, defease or refund
    any Indebtedness incurred pursuant to this clause (9), provided
    that, after giving effect to any such incurrence, the aggregate
    principal amount of all Indebtedness incurred under this
    clause&#160;(9) and then outstanding does not exceed
    $200.0&#160;million;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.&#160;the incurrence by the Company or any of its Restricted
    Subsidiaries of Indebtedness in respect of bid, performance,
    surety, customs, appeals and similar bonds issued for the
    account of the Company and any of its Restricted Subsidiaries in
    the ordinary course of business, including guarantees and
    obligations of the Company or any of its Restricted Subsidiaries
    with respect to letters of credit supporting such obligations
    (in each case other than an obligation for money borrowed);
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    11.&#160;the issuance by any of the Company&#146;s Restricted
    Subsidiaries to the Company or to any of its Restricted
    Subsidiaries of any preferred securities; provided, however,
    that:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    a.&#160;any subsequent issuance or transfer of Equity Interests
    that results in any such preferred securities being held by a
    Person other than the Company or a Restricted Subsidiary of the
    Company;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    b.&#160;any sale or other transfer of any such preferred
    securities to a Person that is not either the Company or a
    Restricted Subsidiary of the Company shall be deemed, in each
    case, to constitute an issuance of such preferred securities by
    such Restricted Subsidiary that was not permitted by this clause
    (11);
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    12.&#160;the incurrence by the Company or any of its Restricted
    Subsidiaries of liability in respect of the Indebtedness of any
    Unrestricted Subsidiary of the Company or any Joint Venture but
    only to the extent that such liability is the result of the
    Company&#146;s or any such Restricted Subsidiary&#146;s being a
    general partner of such Unrestricted Subsidiary or Joint Venture
    and not as guarantor of such Indebtedness and provided that,
    after giving effect to any such incurrence, the aggregate
    principal amount of all Indebtedness incurred under this
    clause&#160;(12) and then outstanding does not exceed
    $25.0&#160;million;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    13.&#160;Permitted Acquisition Indebtedness;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    14.&#160;the incurrence by the Company or any of its Restricted
    Subsidiaries of additional Indebtedness, provided that, after
    giving effect to any such incurrence, the aggregate principal
    amount of all Indebtedness incurred under this clause&#160;(14)
    and then outstanding does not exceed the greater of
    (a)&#160;$200.0&#160;million or (b)&#160;5.0% of the
    Company&#146;s Consolidated Net Tangible Assets.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    For purposes of determining compliance with this
    &#147;Incurrence of Indebtedness and Issuance of Preferred
    Stock&#148; covenant, in the event that an item of Indebtedness
    (including Acquired Debt) meets the criteria of more than one of
    the categories of Permitted Debt described in clauses&#160;(1)
    through (14)&#160;above, or is entitled to be incurred pursuant
    to the first paragraph of this covenant, the Company will be
    permitted to classify (or later classify or reclassify in whole
    or in part in its sole discretion) such item of Indebtedness in
    any manner that complies with this covenant. Any Indebtedness
    under Credit Facilities on the date of the indenture shall be
    considered incurred under clause&#160;(1) of the second
    paragraph of this covenant and may not be later classified or
    reclassified as incurred pursuant to the first paragraph of this
    covenant.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The accrual of interest, the accretion or amortization of
    original issue discount, the payment of interest on any
    Indebtedness in the form of additional Indebtedness with the
    same terms, and the payment of dividends on Disqualified Stock
    or other preferred securities in the form of additional shares
    of the same class of Disqualified Stock or other preferred
    securities, as the case may be, will not be deemed to be an
    incurrence of
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Indebtedness or an issuance of Disqualified Stock or other
    preferred securities for purposes of this covenant, provided, in
    each such case, that the amount thereof is included in Fixed
    Charges of the Company as accrued. Further, the accounting
    reclassification of any obligation or instrument of the Company
    or any of its Restricted Subsidiaries as Indebtedness will not
    be deemed an incurrence of Indebtedness for purposes of this
    covenant.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    For purposes of determining compliance with any
    U.S.&#160;dollar-denominated restriction on the incurrence of
    Indebtedness, the U.S.&#160;dollar-equivalent principal amount
    of Indebtedness denominated in a foreign currency shall be
    calculated based on the relevant currency exchange rate in
    effect on the date such Indebtedness was incurred, in the case
    of term Indebtedness, or first committed, in the case of
    revolving credit Indebtedness; provided that if such
    Indebtedness is incurred to refinance other Indebtedness
    denominated in a foreign currency, and such refinancing would
    cause the applicable U.S.&#160;dollar-dominated restriction to
    be exceeded if calculated at the relevant currency exchange rate
    in effect on the date of such refinancing, such
    U.S.&#160;dollar-dominated restriction shall be deemed not to
    have been exceeded so long as the principal amount of such
    refinancing Indebtedness does not exceed the principal amount of
    such Indebtedness being refinanced. Notwithstanding any other
    provision of this covenant, the maximum amount of Indebtedness
    that the Company and its Restricted Subsidiaries may incur
    pursuant to this covenant shall not be deemed to be exceeded
    solely as a result of fluctuations in the exchange rate of
    currencies. The principal amount of any Permitted Refinancing
    Indebtedness, if incurred in a different currency from the
    Indebtedness being refinanced, shall be calculated based on the
    currency exchange rate applicable to the currencies in which
    such Permitted Refinancing Indebtedness is denominated that is
    in effect on the date of such refinancing.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Liens</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company will not and will not permit any of its Restricted
    Subsidiaries to, create, incur, assume or otherwise cause or
    suffer to exist or become effective any Lien of any kind (other
    than Permitted Liens) securing Indebtedness upon any of their
    property or assets, now owned or hereafter acquired, unless the
    notes or any Subsidiary Guarantee of such Restricted Subsidiary,
    as applicable, is secured on an equal and ratable basis with (or
    on a senior basis to, in the case of obligations subordinated in
    right of payment to the notes or such Subsidiary Guarantee, as
    the case may be) the obligations so secured until such time as
    such obligations are no longer secured by a Lien.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Dividend
    and Other Payment Restrictions Affecting
    Subsidiaries</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company will not, and will not permit any of its Restricted
    Subsidiaries to, directly or indirectly, create or permit to
    exist or become effective any consensual encumbrance or
    restriction on the ability of any Restricted Subsidiary to:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;pay dividends or make any other distributions on its
    Capital Stock to the Company or any of its Restricted
    Subsidiaries, or pay any Indebtedness or other obligations owed
    to the Company or any of its Restricted Subsidiaries;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;make loans or advances to the Company or any of its
    Restricted Subsidiaries;&#160;or
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;transfer any of its properties or assets to the Company
    or any of its Restricted Subsidiaries.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    However, the preceding restrictions will not apply to
    encumbrances or restrictions existing under or by reason of:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;agreements as in effect on the date of the indenture and
    any amendments, modifications, restatements, renewals,
    increases, supplements, refundings, replacements or refinancings
    of those agreements or the Indebtedness to which they relate,
    provided that the amendments, modifications, restatements,
    renewals, increases, supplements, refundings, replacements or
    refinancings are no more restrictive, taken as a whole, with
    respect to such dividend, distribution and other payment
    restrictions than those contained in those agreements on the
    date of the indenture;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;the indenture, the notes and the Subsidiary Guarantees;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;applicable law;
</DIV>
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;any instrument governing Indebtedness or Capital Stock
    of a Person acquired by the Company or any of its Restricted
    Subsidiaries as in effect at the time of such acquisition
    (except to the extent such Indebtedness or Capital Stock was
    incurred in connection with or in contemplation of such
    acquisition), which encumbrance or restriction is not applicable
    to any Person, or the properties or assets of any Person, other
    than the Person, or the property or assets of the Person, so
    acquired, provided that, in the case of Indebtedness, such
    Indebtedness was otherwise permitted by the terms of the
    indenture to be incurred;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;customary non-assignment provisions in equipment or
    other licenses, easements, leases or similar instruments, in
    each case entered into in the ordinary course of business and
    consistent with past practices;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;Capital Lease Obligations, mortgage financings or
    purchase money obligations, in each case for property acquired
    in the ordinary course of business that impose restrictions on
    that property of the nature described in clause&#160;(3) of the
    preceding paragraph;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;any agreement for the sale or other disposition of a
    Restricted Subsidiary of the Company that restricts
    distributions by that Restricted Subsidiary pending its sale or
    other disposition;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.&#160;Permitted Refinancing Indebtedness, provided that the
    restrictions contained in the agreements governing such
    Permitted Refinancing Indebtedness are no more restrictive,
    taken as a whole, than those contained in the agreements
    governing the Indebtedness being refinanced;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.&#160;Liens securing Indebtedness otherwise permitted to be
    incurred under the provisions of the covenant described above
    under the caption &#147;&#151;&#160;Liens&#148; that limit the
    right of the debtor to dispose of the assets subject to such
    Liens;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.&#160;provisions with respect to the disposition or
    distribution of assets or property in joint venture agreements,
    asset sale agreements, stock sale agreements and other similar
    agreements entered into in the ordinary course of business;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    11.&#160;any agreement or instrument relating to any property or
    assets acquired after the date of the indenture, so long as such
    encumbrance or restriction relates only to the property or
    assets so acquired and is not and was not created in
    anticipation of such acquisitions;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    12.&#160;restrictions on cash or other deposits or net worth
    imposed by customers under contracts entered into in the
    ordinary course of business;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    13.&#160;the issuance of preferred securities by a Restricted
    Subsidiary of the Company or the payment of dividends thereon in
    accordance with the terms thereof; provided that issuance of
    such preferred securities is permitted pursuant to the covenant
    described above under the caption &#147;&#151;&#160;Incurrence
    of Indebtedness and Issuance of Preferred Stock&#148; and the
    terms of such preferred securities do not expressly restrict the
    ability of such Restricted Subsidiary to pay dividends or make
    any other distributions on its Capital Stock (other than
    requirements to pay dividends or liquidation preferences on such
    preferred securities prior to paying any dividends or making any
    other distributions on such other Capital Stock);
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    14.&#160;with respect to any Foreign Subsidiary, any encumbrance
    or restriction contained in the terms of any Indebtedness or any
    agreement pursuant to which such Indebtedness was incurred if
    either (a)&#160;the encumbrance or restriction applies only in
    the event of a payment default or a default with respect to a
    financial covenant in such Indebtedness or agreement or
    (b)&#160;the Company determines that any such encumbrance or
    restriction will not materially affect the Company&#146;s
    ability to make principal or interest payments on the notes, as
    determined in good faith by the Company, whose determination
    shall be conclusive;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    15.&#160;any other agreement governing Indebtedness of the
    Company or any Guarantor that is permitted to be incurred by the
    covenant described under &#147;&#151;&#160;Incurrence of
    Indebtedness and Issuance of Preferred Stock&#148;; provided,
    however, that such encumbrances or restrictions are not
    materially more restrictive,
</DIV>
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    taken as a whole, than those contained in the indenture or the
    Credit Agreement as it exists on the date of the indenture.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Merger,
    Consolidation or Sale of Assets</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company may not, directly or indirectly:
    (1)&#160;consolidate or merge with or into another Person
    (whether or not such Company is the survivor); or (2)&#160;sell,
    assign, transfer, lease, convey or otherwise dispose of all or
    substantially all of its properties or assets in one or more
    related transactions, to another Person, unless:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;either: (a)&#160;the Company is the survivor; or
    (b)&#160;the Person formed by or surviving any such
    consolidation or merger (if other than the Company) or to which
    such sale, assignment, transfer, lease, conveyance or other
    disposition has been made is a Person organized or existing
    under the laws of the United States, any state of the United
    States or the District of Columbia;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;the Person formed by or surviving any such consolidation
    or merger (if other than the Company) or the Person to which
    such sale, assignment, transfer, lease, conveyance or other
    disposition has been made assumes all the obligations of the
    Company under the notes, the indenture and the registration
    rights agreement pursuant to agreements reasonably satisfactory
    to the trustee;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;immediately after such transaction no Default or Event
    of Default exists;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;either:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    a.&#160;the Company or the Person formed by or surviving any
    such consolidation or merger (if other than the Company), or to
    which such sale, assignment, transfer, lease, conveyance or
    other disposition has been made will, on the date of such
    transaction after giving pro forma effect thereto and any
    related financing transactions as if the same had occurred at
    the beginning of the applicable four-quarter period, be
    permitted to incur at least $1.00 of additional Indebtedness
    pursuant to the Fixed Charge Coverage Ratio test set forth in
    the first paragraph of the covenant described above under the
    caption &#147;&#151;&#160;Incurrence of Indebtedness and
    Issuance of Preferred Stock;&#148;&#160;or
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    b.&#160;immediately after giving effect to such transaction and
    any related financing transactions on a pro forma basis as if
    the same had occurred at the beginning of the applicable
    four-quarter period, the Fixed Charge Coverage Ratio of the
    Company or the Person formed by or surviving any such
    consolidation or merger (if other than the Company), or to which
    such sale, assignment, transfer, lease, conveyance or other
    disposition has been made, will be equal to or greater than the
    Fixed Charge Coverage Ratio of the Company immediately before
    such transactions;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;the Company has delivered to the trustee an
    officers&#146; certificate and an opinion of counsel, each
    stating that such consolidation, merger or disposition and such
    supplemental indenture (if any) comply with the indenture.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Notwithstanding the restrictions described in the foregoing
    clause (4), any Restricted Subsidiary may consolidate with,
    merge into or dispose of all or part of its properties and
    assets to the Company without complying with the preceding
    clause&#160;(4) in connection with any such consolidation,
    merger or disposition.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Although there is a limited body of case law interpreting the
    phrase &#147;substantially all,&#148; there is no precise
    established definition of the phrase under applicable law.
    Accordingly, in certain circumstances there may be a degree of
    uncertainty as to whether a particular transaction would involve
    &#147;all or substantially all&#148; of the properties or assets
    of a Person.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Transactions
    with Affiliates</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company will not, and will not permit any of its Restricted
    Subsidiaries to, make any payment to, or sell, lease, transfer
    or otherwise dispose of any of its properties or assets to, or
    purchase any property or assets
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    from, or enter into or make or amend any transaction, contract,
    agreement, understanding, loan, advance or guarantee with, or
    for the benefit of, any Affiliate of the Company (each, an
    &#147;Affiliate Transaction&#148;), unless:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;the Affiliate Transaction is on terms that are no less
    favorable to the Company or the relevant Restricted Subsidiary
    than those that would have been obtained in a comparable
    transaction by the Company or such Restricted Subsidiary with an
    unrelated Person;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;either:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    a.&#160;the Company delivers to the trustee, with respect to any
    Affiliate Transaction or series of related Affiliate
    Transactions involving aggregate consideration in excess of
    $25.0&#160;million but no greater than $75.0&#160;million, an
    officers&#146; certificate certifying that such Affiliate
    Transaction or series of Affiliate Transactions complies with
    this covenant;&#160;or
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    b.&#160;the Company delivers to the trustee, with respect to any
    Affiliate Transaction or series of related Affiliate
    Transactions involving aggregate consideration in excess of
    $75.0&#160;million, an officers&#146; certificate certifying
    that such Affiliate Transaction or series of Affiliate
    Transactions complies with this covenant and that such Affiliate
    Transaction or series of related Affiliate Transactions has been
    approved by a majority of the disinterested members of the Board
    of Directors of the Company.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following items will not be deemed to be Affiliate
    Transactions and, therefore, will not be subject to the
    provisions of the prior paragraph:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;any employment, equity award, equity option or equity
    appreciation agreement or plan entered into by the Company or
    any of its Restricted Subsidiaries in the ordinary course of
    business;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;transactions between or among any of the Company and its
    Restricted Subsidiaries;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;transactions with a Person (other than an Unrestricted
    Subsidiary of the Company) that is an Affiliate of the Company
    solely because the Company owns an Equity Interest in such
    Person;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;transactions effected in accordance with the terms of
    (a)&#160;the Omnibus Agreement, (b)&#160;corporate sharing
    agreements with the Partnership and its Subsidiaries with
    respect to general overhead and other administrative matters or
    (c)&#160;other agreements that are identified in the indenture,
    in each case as such agreements are in effect on the date of the
    indenture, and any amendment or replacement of any of such
    agreements so long as such amendment or replacement agreement is
    either (i)&#160;approved by a majority of the disinterested
    members of the Board of Directors of the Company or
    (ii)&#160;not materially more disadvantageous, taken as a whole,
    to the Company and its Restricted Subsidiaries than the
    agreement so amended or replaced;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;customary compensation, indemnification and other
    benefits made available to officers, directors or employees of
    the Company or a Restricted Subsidiary or Affiliate of the
    Company, including reimbursement or advancement of
    <FONT style="white-space: nowrap">out-of-pocket</FONT>
    expenses and provisions of officers&#146; and directors&#146;
    liability insurance;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;sales of Equity Interests (other than Disqualified
    Stock) to, or receipt of capital contributions from, Affiliates
    of the Company;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;Permitted Investments or Restricted Payments that are
    permitted by the provisions of the indenture described above
    under the caption &#147;&#151;&#160;Restricted
    Payments;&#148;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.&#160;in the case of contracts for buying and selling or
    leasing equipment or inventory or other operational contracts,
    any such contracts are entered into in the ordinary course of
    business on terms substantially similar to those contained in
    similar contracts entered into by the Company or any of its
    Restricted Subsidiaries and unrelated third parties.
</DIV>
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    35
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<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Designation
    of Restricted and Unrestricted Subsidiaries</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Board of Directors of the Company may designate any
    Restricted Subsidiary of the Company to be an Unrestricted
    Subsidiary if that designation would not cause a Default. If a
    Restricted Subsidiary of the Company is designated as an
    Unrestricted Subsidiary, the aggregate fair market value of all
    outstanding Investments owned by the Company and its Restricted
    Subsidiaries in the Subsidiary properly designated as an
    Unrestricted Subsidiary will be deemed to be either an
    Investment made as of the time of the designation that will
    reduce the amount available for Restricted Payments under the
    first paragraph of the covenant described above under the
    caption &#147;&#151;&#160;Restricted Payments&#148; or represent
    Permitted Investments, as determined by the Company. That
    designation will only be permitted if the Investment would be
    permitted at that time and if the Subsidiary so designated
    otherwise meets the definition of an Unrestricted Subsidiary.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Board of Directors of the Company may at any time designate
    any Unrestricted Subsidiary to be a Restricted Subsidiary,
    provided that such designation will be deemed to be an
    incurrence of Indebtedness by a Restricted Subsidiary of the
    Company of any outstanding Indebtedness of such Unrestricted
    Subsidiary and such designation will only be permitted if
    (1)&#160;such Indebtedness is permitted under the covenant
    described above under the caption &#147;&#151;&#160;Incurrence
    of Indebtedness and Issuance of Preferred Stock,&#148;
    calculated on a pro forma basis as if such designation had
    occurred at the beginning of the four-quarter reference period,
    and (2)&#160;no Default or Event of Default would be in
    existence following such designation.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Additional
    Subsidiary Guarantees</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If, after the date of the indenture, any Restricted Subsidiary
    of the Company that is not already a Guarantor guarantees any
    other Indebtedness of the Company or any Guarantor, then that
    Subsidiary will become a Guarantor by executing a supplemental
    indenture and delivering it to the trustee within 20 Business
    Days of the date on which it guaranteed or incurred such
    Indebtedness, as the case may be; provided, however, that the
    preceding shall not apply to Subsidiaries of the Company that
    have properly been designated as Unrestricted Subsidiaries in
    accordance with the indenture for so long as they continue to
    constitute Unrestricted Subsidiaries. Notwithstanding the
    preceding, any Subsidiary Guarantee of a Restricted Subsidiary
    that was incurred pursuant to this paragraph will be released in
    the circumstances described in clause&#160;(6) under
    &#147;&#151;&#160;Subsidiary Guarantees.&#148;
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Reports</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Whether or not required by the Commission, so long as any notes
    are outstanding, the Company will file with the Commission for
    public availability within the time periods specified in the
    Commission&#146;s rules and regulations (unless the Commission
    will not accept such a filing), and the Company will furnish to
    the trustee and, upon its prior request, to any of the Holders
    or Beneficial Owners of notes, within five Business Days of
    filing, or attempting to file, the same with the Commission:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;all quarterly and annual financial and other information
    with respect to the Company and its Subsidiaries that would be
    required to be contained in a filing with the Commission on
    Forms <FONT style="white-space: nowrap">10-Q</FONT>
    and <FONT style="white-space: nowrap">10-K</FONT> if
    the Company were required to file such Forms, including a
    &#147;Management&#146;s Discussion and Analysis of Financial
    Condition and Results of Operations&#148; and, with respect to
    the annual information only, a report on the annual financial
    statements by the Company&#146;s certified independent
    accountants;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;all current reports that would be required to be filed
    with the Commission on
    <FONT style="white-space: nowrap">Form&#160;8-K</FONT>
    if the Company were required to file such reports.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The availability of the foregoing information or reports on the
    SEC&#146;s website will be deemed to satisfy the foregoing
    delivery requirements. All such reports will be prepared in all
    material respects in accordance with all of the rules and
    regulations applicable to such reports, including
    <FONT style="white-space: nowrap">Section&#160;3-10</FONT>
    of
    <FONT style="white-space: nowrap">Regulation&#160;S-X,</FONT>
    if the Company is not then subject to the reporting requirements
    of Section&#160;13 or 15(d) of the Exchange Act.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In addition, the Company and the Guarantors have agreed that,
    for so long as any notes remain outstanding, they will furnish
    to the Holders and Beneficial Owners of the notes and to
    securities analysts and
</DIV>
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    <BR>
    36
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    prospective investors in the notes, upon their request, the
    information required to be delivered pursuant to
    Rule&#160;144A(d)(4) under the Securities Act.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Covenant
    Termination</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If at any time (a)&#160;the rating assigned to the notes by both
    S&#038;P and Moody&#146;s is an Investment Grade Rating,
    (b)&#160;no Default has occurred and is continuing under the
    indenture and (c)&#160;the Company has delivered to the trustee
    an officers&#146; certificate certifying to the foregoing
    provisions of this sentence, the Company and its Restricted
    Subsidiaries will no longer be subject to the provisions of the
    indenture described above under the caption
    &#147;&#151;&#160;Repurchase at the Option of
    Holders&#160;&#151; Asset Sales&#148; and the following
    provisions of the indenture described above under the caption
    &#147;&#151;&#160;Certain Covenants&#148;:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    &#145;&#145;&#151;&#160;Restricted Payments,&#148;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    &#145;&#145;&#151;&#160;Incurrence of Indebtedness and Issuance
    of Preferred Stock,&#148;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    &#145;&#145;&#151;&#160;Dividend and Other Payment Restrictions
    Affecting Subsidiaries,&#148;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    &#145;&#145;&#151;&#160;Transactions with
    Affiliates,&#148;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    &#145;&#145;&#151;&#160;Designation of Restricted and
    Unrestricted Subsidiaries.&#148;
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    However, the Company and its Restricted Subsidiaries will remain
    subject to the provisions of the indenture described above under
    the caption &#147;&#151;&#160;Repurchase at the Option of
    Holders&#160;&#151; Change of Control,&#148; and the following
    provisions of the indenture described above under the caption
    &#147;&#151;&#160;Certain Covenants&#148;:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    &#145;&#145;&#151;&#160;Liens,&#148;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    &#145;&#145;&#151;&#160;Merger, Consolidation or Sale of
    Assets&#148; (other than the financial tests set forth in
    clause&#160;(4) of such covenant),&#148;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    &#145;&#145;&#151;&#160;Additional Subsidiary Guarantees,&#148;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    &#145;&#145;&#151;&#160;Reports,&#148;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the covenant respecting payments for consent described below in
    the last paragraph under the caption
    &#147;&#151;&#160;Amendment, Supplement and Waiver.&#148;
</TD>
</TR>

</TABLE>

<A name='H84127138'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Events of
    Default and Remedies</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Each of the following is an Event of Default:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;default for 30&#160;days in the payment when due of
    interest on the notes;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;default in payment when due of the principal of, or
    premium, if any, on the notes;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;failure by the Company to comply with the provisions
    described under the captions &#147;&#151;&#160;Repurchase at the
    Option of Holders&#160;&#151; Asset Sales,&#148;
    &#147;&#151;&#160;Repurchase at the Option of
    Holders&#160;&#151; Change of Control&#148; or
    &#147;&#151;&#160;Certain Covenants&#160;&#151; Merger,
    Consolidation or Sale of Assets;&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;failure by the Company for 180&#160;days after notice to
    comply with the provisions described under
    &#147;&#151;&#160;Certain Covenants&#160;&#151; Reports;&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;failure by the Company for 60&#160;days after notice to
    comply with any of its other agreements in the indenture;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;default under any mortgage, indenture or instrument
    under which there may be issued or by which there may be secured
    or evidenced any Indebtedness for money borrowed by the Company
    or any of its Restricted Subsidiaries (or the payment of which
    is guaranteed by the Company or any of its
</DIV>
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    <BR>
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Restricted Subsidiaries), whether such Indebtedness or guarantee
    now exists, or is created after the date of the indenture, if
    that default:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    a.&#160;is caused by a failure to pay principal of, or interest
    or premium, if any, on such Indebtedness prior to the expiration
    of the grace period provided in such Indebtedness (a
    &#147;Payment Default&#148;);&#160;or
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    b.&#160;results in the acceleration of such Indebtedness prior
    to its Stated Maturity,
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    and, in each case, the principal amount of any such
    Indebtedness, together with the principal amount of any other
    such Indebtedness under which there has been a Payment Default
    or the maturity of which has been so accelerated, aggregates
    $75.0&#160;million or more; provided, however, that if any such
    Payment Default is cured or waived or any such acceleration
    rescinded, or such Indebtedness is repaid, within a period of
    60&#160;days from the continuation of such Payment Default
    beyond the applicable grace period or the occurrence of such
    acceleration, as the case may be, such Event of Default and any
    consequential acceleration of the notes shall be automatically
    rescinded, so long as such rescission does not conflict with any
    judgment or decree;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;failure by the Company or any of its Restricted
    Subsidiaries to pay final judgments aggregating in excess of
    $75.0&#160;million (to the extent not covered by insurance by a
    reputable and creditworthy insurer as to which the insurer has
    not disclaimed coverage), which judgments are not paid,
    discharged or stayed for a period of 60&#160;days;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.&#160;except as permitted by the indenture, any Subsidiary
    Guarantee shall be held in any judicial proceeding to be
    unenforceable or invalid or shall cease for any reason to be in
    full force and effect or any Guarantor, or any Person acting on
    behalf of any Guarantor, shall deny or disaffirm its obligations
    under its Subsidiary Guarantee;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.&#160;certain events of bankruptcy, insolvency or
    reorganization described in the indenture with respect to the
    Company or any of the Company&#146;s Restricted Subsidiaries
    that is a Significant Subsidiary or any group of its Restricted
    Subsidiaries that, taken as a whole, would constitute a
    Significant Subsidiary of the Company.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In the case of an Event of Default arising from certain events
    of bankruptcy, insolvency or reorganization with respect to the
    Company, any Restricted Subsidiary of the Company that is a
    Significant Subsidiary or any group of its Restricted
    Subsidiaries that, taken together, would constitute a
    Significant Subsidiary of the Company, all outstanding notes
    will become due and payable immediately without further action
    or notice. If any other Event of Default occurs and is
    continuing, the trustee or the Holders of at least 25% in
    principal amount of the then outstanding notes may declare all
    the notes to be due and payable immediately.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Holders of the notes may not enforce the indenture or the notes
    except as provided in the indenture. Subject to certain
    limitations, Holders of a majority in principal amount of the
    then outstanding notes may direct the trustee in its exercise of
    any trust or power. The trustee may withhold notice of any
    continuing Default or Event of Default from Holders of the notes
    if it determines that withholding notice is in their interest,
    except a Default or Event of Default relating to the payment of
    principal of, or interest or premium, if any, on, the notes.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Holders of a majority in principal amount of the notes then
    outstanding by notice to the trustee may on behalf of the
    Holders of all of the notes waive any existing Default or Event
    of Default and its consequences under the indenture except a
    continuing Default or Event of Default in the payment of
    principal of, or interest or premium, if any, on, the notes.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company is required to deliver to the trustee annually a
    statement regarding compliance with the indenture. Upon any
    officer of the Company becoming aware of any Default or Event of
    Default, the Company is required to deliver to the trustee a
    statement specifying such Default or Event of Default.
</DIV>
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    <BR>
    38
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<A name='H84127139'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">No
    Personal Liability of Directors, Officers, Employees and
    Stockholders</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    No director, officer, partner, employee, incorporator, manager
    or stockholder or other owner of Capital Stock of the Company or
    any Guarantor, as such, will have any liability for any
    obligations of the Company or any Guarantor under the notes, the
    indenture or the Subsidiary Guarantees, or for any claim based
    on, in respect of, or by reason of, such obligations or their
    creation. Each Holder of notes by accepting a note waives and
    releases all such liability. The waiver and release are part of
    the consideration for issuance of the notes. The waiver may not
    be effective to waive liabilities under the federal securities
    laws.
</DIV>

<A name='H84127140'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Legal
    Defeasance and Covenant Defeasance</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company may, at its option and at any time, elect to have
    all of its obligations discharged with respect to the
    outstanding notes and all obligations of the Guarantors
    discharged with respect to their Subsidiary Guarantees
    (&#147;Legal Defeasance&#148;), except for:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;the rights of Holders of outstanding notes to receive
    payments in respect of the principal of, and interest or
    premium, if any, on, such notes when such payments are due from
    the trust referred to below;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;the Company&#146;s obligations with respect to the notes
    concerning issuing temporary notes, registration of notes,
    mutilated, destroyed, lost or stolen notes and the maintenance
    of an office or agency for payment and money for security
    payments held in trust;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;the rights, powers, trusts, duties and immunities of the
    trustee, and the Company&#146; obligations in connection
    therewith;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;the Legal Defeasance provisions of the indenture.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In addition, the Company may, at its option and at any time,
    elect to have its obligations released with respect to certain
    covenants that are described in the indenture (&#147;Covenant
    Defeasance&#148;) and thereafter any omission to comply with
    those covenants will not constitute a Default or Event of
    Default with respect to the notes. In the event Covenant
    Defeasance occurs, certain events (not including non-payment,
    bankruptcy, insolvency or reorganization events) described under
    &#147;&#151;&#160;Events of Default and Remedies&#148; will no
    longer constitute an Event of Default with respect to the notes.
    If the Company exercises either its Legal Defeasance or Covenant
    Defeasance option, each Guarantor will be released and relieved
    of any obligations under its Subsidiary Guarantee and any
    security for the notes (other than the trust) will be released.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In order to exercise either Legal Defeasance or Covenant
    Defeasance:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;the Company must irrevocably deposit with the trustee,
    in trust, for the benefit of the Holders of the notes, cash in
    U.S.&#160;dollars, non-callable Government Securities, or a
    combination of cash in U.S.&#160;dollars and non-callable
    Government Securities, in amounts as will be sufficient, in the
    opinion of a nationally recognized firm of independent public
    accountants, to pay the principal of, and interest and premium,
    if any, on, the outstanding notes on the date of fixed maturity
    or on the applicable redemption date, as the case may be, and
    the Company must specify whether the notes are being defeased to
    the date of fixed maturity or to a particular redemption date;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;in the case of Legal Defeasance, the Company must
    deliver to the trustee an opinion of counsel reasonably
    acceptable to the trustee confirming that:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    a.&#160;the Company has received from, or there has been
    published by, the Internal Revenue Service a ruling;&#160;or
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    b.&#160;since the date of the indenture, there has been a change
    in the applicable federal income tax law,
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    in either case to the effect that, and based thereon such
    opinion of counsel will confirm that, the Holders of the
    outstanding notes will not recognize income, gain or loss for
    federal income tax purposes as a result of such Legal Defeasance
    and will be subject to federal income tax on the same
</DIV>
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    <BR>
    39
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    amounts, in the same manner and at the same times as would have
    been the case if such Legal Defeasance had not occurred;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;in the case of Covenant Defeasance, the Company must
    deliver to the trustee an opinion of counsel reasonably
    acceptable to the trustee confirming that the Holders of the
    outstanding notes will not recognize income, gain or loss for
    federal income tax purposes as a result of such Covenant
    Defeasance and will be subject to federal income tax on the same
    amounts, in the same manner and at the same times as would have
    been the case if such Covenant Defeasance had not occurred;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;no Default or Event of Default has occurred and is
    continuing on the date of such deposit (other than a Default or
    Event of Default resulting from the borrowing of funds to be
    applied to such deposit);
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;such Legal Defeasance or Covenant Defeasance will not
    result in a breach or violation of, or constitute a default
    under, any material agreement or instrument (other than the
    indenture) to which the Company or any of its Subsidiaries is a
    party or by which the Company or any of its Subsidiaries is
    bound;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;the Company must deliver to the trustee an
    officers&#146; certificate stating that the deposit was not made
    by the Company with the intent of preferring the Holders of
    notes over the other creditors of the Company with the intent of
    defeating, hindering, delaying or defrauding creditors of the
    Company or others;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;the Company must deliver to the trustee an
    officers&#146; certificate and an opinion of counsel, each
    stating that all conditions precedent relating to the Legal
    Defeasance or the Covenant Defeasance have been complied with.
</DIV>

<A name='H84127141'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Amendment,
    Supplement and Waiver</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Except as provided in the next two succeeding paragraphs, the
    indenture or the notes may be amended or supplemented with the
    consent of the Holders of at least a majority in principal
    amount of the then outstanding notes (including, without
    limitation, consents obtained in connection with a purchase of,
    or tender offer or exchange offer for, notes), and any existing
    default or compliance with any provision of the indenture or the
    notes may be waived with the consent of the Holders of a
    majority in principal amount of the then outstanding notes
    (including, without limitation, consents obtained in connection
    with a purchase of, or tender offer or exchange offer for,
    notes).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Without the consent of each Holder affected, an amendment,
    supplement or waiver may not (with respect to any notes held by
    a non-consenting Holder):
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;reduce the principal amount of notes whose Holders must
    consent to an amendment, supplement or waiver;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;reduce the principal of or change the fixed maturity of
    any note or alter the provisions with respect to the redemption
    or repurchase of the notes (other than provisions relating to
    the covenants described above under the caption
    &#147;&#151;&#160;Repurchase at the Option of Holders&#148;);
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;reduce the rate of or change the time for payment of
    interest on any note;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;waive a Default or Event of Default in the payment of
    principal of, or interest or premium, if any, on the notes
    (except a rescission of acceleration of the notes by the Holders
    of at least a majority in principal amount of the notes and a
    waiver of the payment default that resulted from such
    acceleration);
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;make any note payable in currency other than that stated
    in the notes;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;make any change in the provisions of the indenture
    relating to waivers of past Defaults or the rights of Holders of
    notes to receive payments of principal of, or interest or
    premium, if any, on the notes (other than as permitted in
    clause&#160;(7) below);
</DIV>
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    <BR>
    40
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;waive a redemption or repurchase payment with respect to
    any note (other than a payment required by one of the covenants
    described above under the caption &#147;&#151;&#160;Repurchase
    at the Option of Holders&#148;);
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.&#160;release any Guarantor from any of its obligations under
    its Subsidiary Guarantee or the indenture, except in accordance
    with the terms of the indenture;&#160;or
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.&#160;make any change in the preceding amendment, supplement
    and waiver provisions.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Notwithstanding the preceding, without the consent of any Holder
    of notes, the Company, the Guarantors and the trustee may amend
    or supplement the indenture or the notes:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;to cure any ambiguity, defect or inconsistency;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;to provide for uncertificated notes in addition to or in
    place of certificated notes;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;to provide for the assumption of an Company&#146;s
    obligations to Holders of notes in the case of a merger or
    consolidation or sale of all or substantially all of such
    Company&#146;s properties or assets;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;to make any change that would provide any additional
    rights or benefits to the Holders of notes or that does not
    adversely affect the legal rights under the indenture of any
    such Holder, provided that any change to conform the indenture
    to this prospectus will not be deemed to adversely affect such
    legal rights;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;to secure the notes or the Subsidiary Guarantees
    pursuant to the requirements of the covenant described above
    under the caption &#147;&#151;&#160;Certain
    Covenants&#160;&#151; Liens&#148; or otherwise;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;to provide for the issuance of additional notes in
    accordance with the limitations set forth in the indenture;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;to add any additional Guarantor or to evidence the
    release of any Guarantor from its Subsidiary Guarantee, in each
    case as provided in the indenture;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.&#160;to comply with requirements of the Commission in order
    to effect or maintain the qualification of the indenture under
    the Trust&#160;Indenture Act;&#160;or
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.&#160;to evidence or provide for the acceptance of appointment
    under the indenture of a successor trustee.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Neither the Company nor any of its Subsidiaries shall, directly
    or indirectly, pay or cause to be paid any consideration,
    whether by way of interest, fee or otherwise, to any Beneficial
    Owner or Holder of any notes for or as an inducement to any
    consent to any waiver, supplement or amendment of any terms or
    provisions of the indenture or the notes, unless such
    consideration is offered to be paid or agreed to be paid to all
    Beneficial Owners and Holders of the notes which so consent in
    the time frame set forth in solicitation documents relating to
    such consent.
</DIV>

<A name='H84127142'>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Satisfaction
    and Discharge</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The indenture will be discharged and will cease to be of further
    effect as to all notes issued thereunder (except as to surviving
    rights of registration of transfer or exchange of the notes and
    as otherwise specified in the indenture), when:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;either:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    a.&#160;all notes that have been authenticated, except lost,
    stolen or destroyed notes that have been replaced or paid and
    notes for whose payment money has been deposited in trust and
    thereafter repaid to the Company, have been delivered to the
    trustee for cancellation;&#160;or
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    b.&#160;all notes that have not been delivered to the trustee
    for cancellation have become due and payable or will become due
    and payable within one year by reason of the mailing of a notice
    of redemption or otherwise and the Company or any Guarantor has
    irrevocably deposited or caused to
</DIV>
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    <BR>
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<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    be deposited with the trustee as trust funds in trust solely for
    the benefit of the Holders, cash in U.S.&#160;dollars,
    non-callable Government Securities, or a combination of cash in
    U.S.&#160;dollars and non-callable Government Securities, in
    amounts as will be sufficient without consideration of any
    reinvestment of interest, to pay and discharge the entire
    indebtedness on the notes not delivered to the trustee for
    cancellation for principal, premium, if any, and accrued
    interest to the date of fixed maturity or redemption;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;no Event of Default has occurred and is continuing on
    the date of the deposit or will occur as a result of the deposit
    (other than an Event of Default resulting from the borrowing of
    funds to be applied to such deposit) and the deposit will not
    result in a breach or violation of, or constitute a default
    under, any material agreement or instrument (other than the
    indenture) to which the Company or any Guarantor is a party or
    by which the Company or any Guarantor is bound;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;the Company or any Guarantor has paid or caused to be
    paid all sums payable by it under the indenture;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;the Company has delivered irrevocable instructions to
    the trustee to apply the deposited money toward the payment of
    the notes at fixed maturity or the redemption date, as the case
    may be.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In addition, the Company must deliver an officers&#146;
    certificate and an opinion of counsel to the trustee stating
    that all conditions precedent to satisfaction and discharge have
    been satisfied.
</DIV>

<A name='H84127143'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Concerning
    the Trustee</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Wells Fargo Bank, National Association and its affiliates are
    agents and lenders under the Credit Agreement. Such bank also
    serves as trustee under the indentures for our outstanding 4.25%
    convertible senior notes.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If the trustee becomes a creditor of the Company or any
    Guarantor, the indenture will limit its right to obtain payment
    of claims in certain cases, or to realize on certain property
    received in respect of any such claim as security or otherwise.
    The trustee will be permitted to engage in other transactions;
    however, if it acquires any conflicting interest (as defined in
    the Trust&#160;Indenture Act) after a Default has occurred and
    is continuing, it must eliminate such conflict within
    90&#160;days, apply to the Commission for permission to continue
    as trustee or resign.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Holders of a majority in principal amount of the then
    outstanding notes will have the right to direct the time, method
    and place of conducting any proceeding for exercising any remedy
    available to the trustee, subject to certain exceptions. In case
    an Event of Default occurs and is continuing, the trustee will
    be required, in the exercise of its powers, to use the degree of
    care of a prudent man in the conduct of his own affairs. Subject
    to such provisions, the trustee will be under no obligation to
    exercise any of its rights or powers under the indenture at the
    request of any Holder of notes, unless such Holder has offered
    to the trustee security or indemnity satisfactory to it against
    any loss, liability or expense.
</DIV>

<A name='H84127144'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Governing
    Law</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The indenture, the outstanding notes and the Subsidiary
    Guarantees are, and the exchange notes will be, governed by, and
    construed in accordance with, the laws of the State of New York.
</DIV>

<A name='H84127145'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Additional
    Information</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Anyone who receives this prospectus may obtain a copy of the
    indenture and registration rights agreement without charge by
    writing to Exterran Holdings, Inc., 16666 Northchase Drive,
    Houston, Texas 77060, Attention: Chief Financial Officer.
</DIV>

<A name='H84127146'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Book-Entry,
    Delivery and Form</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The exchange notes will be issued initially only in the form of
    one or more global notes (collectively, the &#147;Global
    Notes&#148;). The Global Notes will be deposited upon issuance
    with the trustee as custodian for The
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Depository Trust&#160;Company (&#147;DTC&#148;), in New York,
    New York, and registered in the name of DTC&#146;s nominee,
    Cede&#160;&#038; Co., in each case for credit to an account of a
    direct or indirect participant in DTC as described below.
    Beneficial interests in the Global Notes may be held through the
    Euroclear System (&#147;Euroclear&#148;) and Clearstream
    Banking, S.A. (&#147;Clearstream&#148;) (as indirect
    participants in DTC).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Global Notes may be transferred, in whole but not in part,
    only to another nominee of DTC or to a successor of DTC or its
    nominee. Beneficial interests in the Global Notes may not be
    exchanged for notes in registered, certificated form
    (&#147;Certificated Notes&#148;) except in the limited
    circumstances described below. See &#147;&#151;&#160;Exchange of
    Global Notes for Certificated Notes.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In addition, transfers of beneficial interests in the Global
    Notes will be subject to the applicable rules and procedures of
    DTC and its direct or indirect participants (including, if
    applicable, those of Euroclear and Clearstream), which may
    change from time to time.
</DIV>

<A name='H84127147'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Depository
    Procedures</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following description of the operations and procedures of
    DTC, Euroclear and Clearstream are provided solely as a matter
    of convenience. These operations and procedures are solely
    within the control of the respective settlement systems and are
    subject to changes by them. We take no responsibility for these
    operations and procedures and urge investors to contact the
    system or their participants directly to discuss these matters.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    DTC has advised us that DTC is a limited-purpose trust company
    created to hold securities for its participating organizations
    (collectively, the &#147;Participants&#148;) and to facilitate
    the clearance and settlement of transactions in those securities
    between Participants through electronic book-entry changes in
    accounts of its Participants. The Participants include
    securities brokers and dealers, banks, trust companies, clearing
    corporations and certain other organizations. Access to
    DTC&#146;s system is also available to other entities such as
    banks, brokers, dealers and trust companies that clear through
    or maintain a custodial relationship with a Participant, either
    directly or indirectly (collectively, the &#147;Indirect
    Participants&#148;). Persons who are not Participants may
    beneficially own securities held by or on behalf of DTC only
    through the Participants or the Indirect Participants. The
    ownership interests in, and transfers of ownership interests in,
    each security held by or on behalf of DTC are recorded on the
    records of the Participants and Indirect Participants.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    DTC has also advised us that, pursuant to procedures established
    by it:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;upon deposit of the Global Notes, DTC will credit the
    accounts of Participants designated by the exchange agent with
    portions of the principal amount of the Global Notes;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;ownership of these interests in the Global Notes will be
    shown on, and the transfer of ownership of these interests will
    be effected only through, records maintained by DTC (with
    respect to the Participants) or by the Participants and the
    Indirect Participants (with respect to other owners of
    beneficial interests in the Global Notes).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Investors in the Global Notes who are Participants in DTC&#146;s
    system may hold their interests therein directly through DTC.
    Investors in the Global Notes who are not Participants may hold
    their interests therein indirectly through organizations
    (including Euroclear and Clearstream) which are Participants in
    such system. Euroclear and Clearstream may hold interests in the
    Global Notes on behalf of their participants through
    customers&#146; securities accounts in their respective names on
    the books of their depositories, which are Euroclear Bank
    S.A./N.V., as operator of Euroclear, and Citibank, N.A., as
    operator of Clearstream. All interests in a Global Note,
    including those held through Euroclear or Clearstream, may be
    subject to the procedures and requirements of DTC. Those
    interests held through Euroclear or Clearstream may also be
    subject to the procedures and requirements of such systems.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The laws of some states require that certain Persons take
    physical delivery in definitive form of securities that they
    own. Consequently, the ability to transfer beneficial interests
    in a Global Note to such Persons will be limited to that extent.
    Because DTC can act only on behalf of Participants, which in
    turn act on behalf of Indirect Participants, the ability of a
    Person having beneficial interests in a Global Note to pledge
    such
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    interests to Persons that do not participate in the DTC system,
    or otherwise take actions in respect of such interests, may be
    affected by the lack of a physical certificate evidencing such
    interests.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Except as described below, owners of beneficial interests in
    the Global Notes will not have notes registered in their names,
    will not receive physical delivery of Certificated Notes and
    will not be considered the registered owners or
    &#147;Holders&#148; thereof under the indenture for any
    purpose.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Payments in respect of the principal of, and interest and
    premium, if any, on, a Global Note registered in the name of DTC
    or its nominee will be payable to DTC in its capacity as the
    registered Holder under the indenture. Under the terms of the
    indenture, the Company, the Guarantors and the trustee will
    treat the Persons in whose names the notes, including the Global
    Notes, are registered as the owners of the notes for the purpose
    of receiving payments and for all other purposes. Consequently,
    neither the Company, the Guarantors, the trustee nor any agent
    of an Company or the trustee has or will have any responsibility
    or liability for:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;any aspect of DTC&#146;s records or any
    Participant&#146;s or Indirect Participant&#146;s records
    relating to or payments made on account of beneficial ownership
    interests in the Global Notes or for maintaining, supervising or
    reviewing any of DTC&#146;s records or any Participant&#146;s or
    Indirect Participant&#146;s records relating to the beneficial
    ownership interests in the Global Notes;&#160;or
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;any other matter relating to the actions and practices
    of DTC or any of its Participants or Indirect Participants.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    DTC has advised us that its current practice, at the due date of
    any payment in respect of securities such as the notes, is to
    credit the accounts of the relevant Participants with the
    payment on the payment date unless DTC has reason to believe it
    will not receive payment on such payment date. Each relevant
    Participant is credited with an amount proportionate to its
    beneficial ownership of an interest in the principal amount of
    the notes as shown on the records of DTC. Payments by the
    Participants and the Indirect Participants to the beneficial
    owners of notes will be governed by standing instructions and
    customary practices and will be the responsibility of the
    Participants or the Indirect Participants and will not be the
    responsibility of DTC, the trustee or the Company. Neither the
    Company nor the trustee will be liable for any delay by DTC or
    any of its Participants in identifying the beneficial owners of
    the notes, and the Company and the trustee may conclusively rely
    on and will be protected in relying on instructions from DTC or
    its nominee for all purposes.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Transfers between Participants in DTC will be effected in
    accordance with DTC&#146;s procedures, and will be settled in
    <FONT style="white-space: nowrap">same-day</FONT>
    funds, and transfers between participants in Euroclear and
    Clearstream will be effected in accordance with their respective
    rules and operating procedures.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Cross-market transfers between the Participants in DTC, on the
    one hand, and Euroclear or Clearstream participants, on the
    other hand, will be effected through DTC in accordance with
    DTC&#146;s rules on behalf of Euroclear or Clearstream, as the
    case may be, by its depository; however, such cross-market
    transactions will require delivery of instructions to Euroclear
    or Clearstream, as the case may be, by the counterparty in such
    system in accordance with the rules and procedures and within
    the established deadlines (Brussels time) of such system.
    Euroclear or Clearstream, as the case may be, will, if the
    transaction meets its settlement requirements, deliver
    instructions to its respective depository to take action to
    effect final settlement on its behalf by delivering or receiving
    interests in the relevant Global Note in DTC, and making or
    receiving payment in accordance with normal procedures for
    <FONT style="white-space: nowrap">same-day</FONT>
    funds settlement applicable to DTC. Euroclear participants and
    Clearstream participants may not deliver instructions directly
    to the depositories for Euroclear or Clearstream.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    DTC has advised us that it will take any action permitted to be
    taken by a Holder of notes only at the direction of one or more
    Participants to whose account DTC has credited the interests in
    the Global Notes and only in respect of such portion of the
    aggregate principal amount of the notes as to which such
    Participant or Participants has or have given such direction.
    However, if there is an Event of Default under the notes, DTC
    reserves the right to exchange the Global Notes for Certificated
    Notes, and to distribute such notes to its Participants.
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Although DTC, Euroclear and Clearstream have agreed to the
    foregoing procedures to facilitate transfers of interests in the
    Global Notes among participants in DTC, Euroclear and
    Clearstream, they are under no obligation to perform or to
    continue to perform such procedures, and may discontinue such
    procedures at any time. None of the Company, the trustee or any
    of their respective agents will have any responsibility for the
    performance by DTC, Euroclear or Clearstream or their respective
    participants or indirect participants of their respective
    obligations under the rules and procedures governing their
    operations.
</DIV>

<A name='H84127148'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exchange
    of Global Notes for Certificated Notes</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    A Global Note is exchangeable for Certificated Notes in minimum
    denominations of $2,000 and in integral multiples of $1,000 in
    excess of $2,000, if:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;DTC (a)&#160;notifies the Company that it is unwilling
    or unable to continue as depositary for the Global Note or
    (b)&#160;has ceased to be a clearing agency registered under the
    Exchange Act and in either event the Company fail to appoint a
    successor depositary within 90&#160;days;&#160;or
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;there has occurred and is continuing an Event of Default
    and DTC notifies the trustee of its decision to exchange the
    Global Note for Certificated Notes.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Beneficial interests in a Global Note may also be exchanged for
    Certificated Notes in the other limited circumstances permitted
    by the indenture, including if an affiliate of ours acquires
    such interests. In all cases, Certificated Notes delivered in
    exchange for any Global Note or beneficial interests in Global
    Notes will be registered in the names, and issued in any
    approved denominations, requested by or on behalf of the
    depositary (in accordance with its customary procedures).
</DIV>

<A name='H84127149'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exchange
    of Certificated Notes for Global Notes</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Certificated Notes may not be exchanged for beneficial interests
    in any Global Note, except in the limited circumstances provided
    in the indenture.
</DIV>

<A name='H84127150'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times"><FONT style="white-space: nowrap">Same-Day</FONT>
    Settlement and Payment</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company will make payments in respect of the notes
    represented by the Global Notes (including principal, premium,
    if any, and interest) by wire transfer of immediately available
    funds to the accounts specified by the Global Note Holder. The
    Company will make all payments of principal, interest and
    premium, if any, with respect to Certificated Notes by wire
    transfer of immediately available funds to the accounts
    specified by the Holders of the Certificated Notes or, if no
    such account is specified, by mailing a check to each such
    Holder&#146;s registered address. The notes represented by the
    Global Notes are eligible to trade in DTC&#146;s
    <FONT style="white-space: nowrap">Same-Day</FONT>
    Funds Settlement System, and any permitted secondary market
    trading activity in such notes will, therefore, be required by
    DTC to be settled in immediately available funds. We expect that
    secondary trading in any Certificated Notes will also be settled
    in immediately available funds.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Because of time zone differences, the securities account of a
    Euroclear or Clearstream participant purchasing an interest in a
    Global Note from a Participant in DTC will be credited, and any
    such crediting will be reported to the relevant Euroclear or
    Clearstream participant, during the securities settlement
    processing day (which must be a business day for Euroclear and
    Clearstream) immediately following the settlement date of DTC.
    DTC has advised us that cash received in Euroclear or
    Clearstream as a result of sales of interests in a Global Note
    by or through a Euroclear or Clearstream participant to a
    Participant in DTC will be received with value on the settlement
    date of DTC but will be available in the relevant Euroclear or
    Clearstream cash account only as of the business day for
    Euroclear or Clearstream following DTC&#146;s settlement date.
</DIV>

<A name='H84127151'>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Certain
    Definitions</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Set forth below are certain defined terms used in the indenture.
    Reference is made to the indenture for a full disclosure of all
    such terms, as well as any other capitalized terms used herein
    for which no definition is provided.
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;ABS Facility&#148;</I> means that certain asset backed
    securitization facility under that certain Indenture dated as of
    August&#160;20, 2007, between Exterran ABS 2007 LLC, Exterran
    ABS Leasing 2007 LLC and Wells Fargo Bank, National Association,
    as trustee, as amended, modified, supplemented, restated,
    refinanced or replaced by another limited recourse facility from
    time to time.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Acquired Debt&#148;</I> means, with respect to any
    specified Person:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Indebtedness of any other Person existing at the time
    such other Person was merged with or into or became a Subsidiary
    of such specified Person, whether or not such Indebtedness is
    incurred in connection with, or in contemplation of, such other
    Person merging with or into, or becoming a Subsidiary of, such
    specified Person, but excluding Indebtedness which is
    extinguished, retired or repaid in connection with such Person
    merging with or into or becoming a Subsidiary of such specified
    Person;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Indebtedness secured by a Lien encumbering any asset
    acquired by such specified Person.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Additional Assets&#148;</I> means:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;any assets used or useful in a Permitted Business, other
    than Indebtedness or Capital Stock;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;the Capital Stock of a Person that becomes a Restricted
    Subsidiary as a result of the acquisition of such Capital Stock
    by the Company or any of its Restricted Subsidiaries;&#160;or
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;Capital Stock constituting a non-controlling interest in
    any Person that at such time is a Restricted Subsidiary;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    provided, however, that any such Restricted Subsidiary described
    in clause&#160;(2) or (3)&#160;is primarily engaged in a
    Permitted Business.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Affiliate&#148;</I> of any specified Person means any
    other Person directly or indirectly controlling or controlled by
    or under direct or indirect common control with such specified
    Person. For purposes of this definition, &#147;control,&#148; as
    used with respect to any Person, means the possession, directly
    or indirectly, of the power to direct or cause the direction of
    the management or policies of such Person, whether through the
    ownership of voting securities, by agreement or otherwise; and
    the terms &#147;controlling,&#148; &#147;controlled by&#148; and
    &#147;under common control with&#148; have correlative meanings.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Asset Sale&#148;</I> means:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;the sale, lease, conveyance or other disposition of any
    properties or assets (including by way of a sale and leaseback
    transaction); provided, however, that the disposition of all or
    substantially all of the properties or assets of the Company and
    its Restricted Subsidiaries taken as a whole will be governed by
    the provisions of the indenture described above under the
    caption &#147;&#151;&#160;Repurchase at the Option of
    Holders&#160;&#151; Change of Control&#148;
    <FONT style="white-space: nowrap">and/or</FONT> the
    provisions described above under the caption
    &#147;&#151;&#160;Certain Covenants&#160;&#151; Merger,
    Consolidation or Sale of Assets&#148; and not by the provisions
    of the Asset Sales covenant;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;the issuance of Equity Interests in any of the
    Company&#146;s Restricted Subsidiaries or the sale of Equity
    Interests in any of its Restricted Subsidiaries:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Notwithstanding the preceding, the following items will not be
    deemed to be Asset Sales:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;any single transaction or series of related transactions
    that involves properties or assets having a fair market value of
    less than $25.0&#160;million;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;the sale, lease, conveyance or other disposition of
    properties or assets between or among any of the Company and its
    Restricted Subsidiaries;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;an issuance or sale of Equity Interests by a Restricted
    Subsidiary to the Company or to another Restricted Subsidiary;
</DIV>
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;the sale, lease or other disposition of equipment,
    inventory, accounts receivable or other properties or assets,
    including obsolete or worn out equipment, in the ordinary course
    of business;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;the sale or other disposition of cash or Cash
    Equivalents, Hedging Contracts or other financial instruments in
    the ordinary course of business;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;a Restricted Payment that does not violate the covenant
    described above under the caption &#147;&#151;&#160;Certain
    Covenants&#151;Restricted Payments&#148; or a Permitted
    Investment;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;the creation or perfection of a Lien that is not
    prohibited by the covenant described above under the caption
    &#147;&#151;&#160;Certain Covenants&#160;&#151; Liens;&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.&#160;dispositions in connection with Permitted Liens;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.&#160;surrender or waiver of contract rights or the
    settlement, release or surrender of contract, tort or other
    claims of any kind;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.&#160;the grant in the ordinary course of business of any
    non-exclusive license of patents, trademarks, registrations
    therefor and other similar intellectual property;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    11.&#160;an Asset Swap;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    12.&#160;any expropriation, taking, sale, lease, conveyance or
    other disposition of assets located in the State of Venezuela or
    the claims related thereto (including any receipt of proceeds
    related thereto or the subsequent sale or other disposition of
    any non-cash consideration received therefrom);
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    13.&#160;Permitted MLP Dispositions;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    14.&#160;dispositions of Investments in Joint Ventures to the
    extent required by, or made pursuant to customary buy/sell
    arrangements between the Joint Venture parties set forth in,
    Joint Venture agreements or any similar binding arrangements.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Asset Swap&#148;</I> means any substantially
    contemporaneous (and in any event occurring within 180&#160;days
    of each other) purchase and sale or exchange of any assets or
    properties used or useful in a Permitted Business between the
    Company or any of its Restricted Subsidiaries and another
    Person; provided that any cash received must be applied in
    accordance with the covenant described above under the caption
    &#147;&#151;&#160;Repurchase at the Option of
    Holders&#160;&#151; Asset Sales&#148; as if the Asset Swap were
    an Asset Sale.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Attributable Debt&#148;</I> in respect of a sale and
    leaseback transaction means, at the time of determination, the
    present value of the obligation of the lessee for net rental
    payments during the remaining term of the lease included in such
    sale and leaseback transaction including any period for which
    such lease has been extended or may, at the option of the
    lessor, be extended. Such present value shall be calculated
    using a discount rate equal to the rate of interest implicit in
    such transaction, determined in accordance with GAAP. As used in
    the preceding sentence, the &#147;net rental payments&#148;
    under any lease for any such period shall mean the sum of rental
    and other payments required to be paid with respect to such
    period by the lessee thereunder, excluding any amounts required
    to be paid by such lessee on account of maintenance and repairs,
    insurance, taxes, assessments, water rates or similar charges.
    In the case of any lease that is terminable by the lessee upon
    payment of penalty, such net rental payment shall also include
    the amount of such penalty, but no rent shall be considered as
    required to be paid under such lease subsequent to the first
    date upon which it may be so terminated.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Beneficial Owner&#148;</I> has the meaning assigned to
    such term in
    <FONT style="white-space: nowrap">Rule&#160;13d-3</FONT>
    and
    <FONT style="white-space: nowrap">Rule&#160;13d-5</FONT>
    under the Exchange Act, except that in calculating the
    beneficial ownership of any particular &#147;person&#148; (as
    that term is used in Section&#160;13(d)(3) of the Exchange Act),
    such &#147;person&#148; will be deemed to have beneficial
    ownership of all securities that such &#147;person&#148; has the
    right to acquire by conversion or exercise of other securities,
    whether such right is currently exercisable or is exercisable
    only upon the occurrence of a subsequent condition. The terms
    &#147;Beneficially Owns&#148; and &#147;Beneficially Owned&#148;
    have correlative meanings.
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Board of Directors&#148;</I> means:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;with respect to the Company or any other corporation,
    its board of directors;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;with respect to any other Person, the board or committee
    of such Person serving a similar function.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Board Resolution&#148;</I> means a copy of a resolution
    certified by the Secretary or an Assistant Secretary of the
    applicable Person to have been duly adopted by the Board of
    Directors of such Person and to be in full force and effect on
    the date of such certification, and delivered to the trustee.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Business Day&#148;</I> means each day that is not a
    Saturday, Sunday or other day on which banking institutions in
    New York, New York or another place of payment are authorized or
    required by law to close.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Capital Lease Obligation&#148;</I> means, at the time
    any determination is to be made, the amount of the liability in
    respect of a capital lease that would at that time be required
    to be capitalized on a balance sheet in accordance with GAAP,
    excluding liabilities resulting from a change in GAAP subsequent
    to the Issue Date.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Capital Stock&#148;</I> means:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;in the case of a corporation, corporate stock;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;in the case of an association or business entity, any
    and all shares, interests, participations, rights or other
    equivalents (however designated) of corporate stock;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;in the case of a partnership or limited liability
    company, partnership interests (whether general or limited) or
    membership interests;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;any other interest or participation that confers on a
    Person the right to receive a share of the profits and losses
    of, or distributions of assets of, the issuing Person.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Cash Equivalents&#148;</I> means:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;securities issued or directly and fully guaranteed or
    insured by (i)&#160;the United States government or any agency
    or instrumentality of the United States government (provided
    that the full faith and credit of the United States is pledged
    in support of those securities) or (ii)&#160;any foreign country
    whose sovereign debt has a rating of at least &#147;A3&#148;
    from Moody&#146;s and at least &#147;A&#8722;&#148; from
    S&#038;P or any agency or instrumentality of such foreign
    country (provided that the full faith and credit of such foreign
    country is pledged in support of those securities), in each case
    having maturities of not more than 12&#160;months from the date
    of acquisition;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;certificates of deposit, demand deposits and eurodollar
    time deposits with maturities of six months or less from the
    date of acquisition, bankers&#146; acceptances with maturities
    not exceeding six months and overnight bank deposits, in each
    case, with any commercial bank having capital and surplus of
    $500.0&#160;million (or the equivalent thereof in any other
    currency or currency unit);
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;marketable general obligations issued by any state of
    the United States of America or any political subdivision of any
    such state or any public instrumentality thereof maturing within
    one year from the date of acquisition thereof and, at the time
    of acquisition thereof, having a credit rating of &#147;A&#148;
    or better from either S&#038;P or Moody&#146;s;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;repurchase obligations with a term of not more than
    seven days for underlying securities of the types described in
    clauses&#160;(1) and (2)&#160;above entered into with any
    financial institution meeting the qualifications specified in
    clause&#160;(2) above;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;commercial paper having one of the two highest ratings
    obtainable from Moody&#146;s or S&#038;P, or carrying an
    equivalent rating by a nationally recognized rating agency, if
    both Moody&#146;s and S&#038;P cease publishing ratings, and in
    each case maturing within 270&#160;days after the date of
    acquisition;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;deposits available for withdrawal on demand with any
    commercial bank not meeting the qualifications specified in
    clause&#160;(2) above;&#160;and
</DIV>
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    7.&#160;money market mutual funds substantially all of the
    assets of which constitute Cash Equivalents of the kinds
    described in clauses&#160;(1) through (5)&#160;of this
    definition.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Change of Control&#148;</I> means the occurrence of any
    of the following:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;the direct or indirect sale, lease, transfer, conveyance
    or other disposition (other than by way of merger or
    consolidation), in one or a series of related transactions, of
    all or substantially all of the properties or assets (including
    Capital Stock of the Restricted Subsidiaries) of the Company and
    its Restricted Subsidiaries taken as a whole, to any
    &#147;person&#148; (as that term is used in
    Section&#160;13(d)(3) of the Exchange Act);
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;the adoption of a plan relating to the liquidation or
    dissolution of the Company;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;the consummation of any transaction (including, without
    limitation, any merger or consolidation) the result of which is
    that any &#147;person&#148; (as that term is used in Section
    13(d)(3) of the Exchange Act) becomes the Beneficial Owner,
    directly or indirectly, of more than 50% of the Voting Stock of
    the Company, measured by voting power rather than number of
    shares;&#160;or
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;the first day on which a majority of the members of the
    Board of Directors of the Company are not Continuing Directors.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Commission&#148;</I> or &#147;SEC&#148; means the
    Securities and Exchange Commission.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Consolidated Cash Flow&#148;</I> means, with respect to
    any specified Person for any period, the Consolidated Net Income
    of such Person for such period plus the following:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;all income tax expense of such Person and its Restricted
    Subsidiaries for such period, to the extent that such expense
    was deducted in computing such Consolidated Net Income;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;consolidated interest expense of such Person and its
    Restricted Subsidiaries for such period, whether paid or accrued
    and whether or not capitalized (including, without limitation,
    amortization of debt issuance costs and original issue discount,
    non-cash interest payments, the interest component of any
    deferred payment obligations, the interest component of all
    payments associated with Capital Lease Obligations, imputed
    interest with respect to Attributable Debt, commissions,
    discounts and other fees and charges incurred in respect of
    letter of credit or bankers&#146; acceptance financings), and
    including the effect of all payments made or received pursuant
    to interest rate Hedging Contracts, to the extent that any such
    expense was deducted in computing such Consolidated Net Income;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;depreciation and amortization expense (including
    amortization of deferred financing costs) of such Person and its
    Restricted Subsidiaries for such period, to the extent that any
    such expense was deducted in computing such Consolidated Net
    Income;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;non-cash losses resulting from foreign currency balance
    sheet adjustments required by GAAP to the extent such losses
    were deducted in computing such Consolidated Net Income;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;all unusual or non-recurring items of loss, to the
    extent that any such items were deducted in computing such
    Consolidated Net Income;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;all dividends or distributions paid in cash to the
    specified Person or a Restricted Subsidiary of the specified
    Person from any Person that is not a Restricted Subsidiary of
    the specified Person or that is accounted for by the equity
    method of accounting (excluding any net income of such Person
    that is included in such Consolidated Net Income).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Consolidated Leverage Ratio&#148; </I>means, as of any
    date of determination, the ratio of (1)&#160;the amount of Total
    Indebtedness to (2)&#160;the aggregate amount of Consolidated
    Cash Flow of the Company for the Company&#146;s most recently
    ended four full fiscal quarters for which internal financial
    statements are available immediately preceding such date,
    determined on a pro forma basis as described under the
    definition of &#147;Fixed Charge Coverage Ratio.&#148;
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Consolidated Net Income&#148;</I> means, with respect
    to any specified Person for any period, the net income (loss) of
    such Person and its Restricted Subsidiaries for such period,
    determined on a consolidated basis in accordance with GAAP and
    before any reduction in respect of preferred stock dividends,
    provided that:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;any gain (or loss), together with any related provision
    for taxes on such gain (or loss), realized in connection with:
    (a)&#160;any Asset Sale; or (b)&#160;the disposition of any
    securities by such Person or its Restricted Subsidiaries (other
    than pursuant to item (12)&#160;of the items not deemed to be
    Asset Sales in the definition of Asset Sale) or the
    extinguishment of any Indebtedness of such Person or its
    Restricted Subsidiaries will be excluded;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;any extraordinary gain (or loss), together with any
    related provision for taxes on such extraordinary gain (or loss)
    will be excluded;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;the net income of any Restricted Subsidiary will be
    excluded to the extent that the declaration or payment of
    dividends or similar distributions by that Restricted Subsidiary
    of that net income is not at the date of determination permitted
    without any prior governmental approval (except as has been
    obtained or is customarily obtained) or, directly or indirectly,
    by operation of the terms of its charter or any judgment,
    decree, order, statute, rule or governmental regulation
    applicable to that Restricted Subsidiary or its stockholders,
    partners or members;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;the cumulative effect of a change in accounting
    principles will be excluded;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;any impairment losses will be excluded;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;any non-cash compensation charge arising from any grant
    of stock, stock options or other equity-based awards will be
    excluded;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;unrealized mark to market losses and gains under Hedging
    Contracts included in the determination of Consolidated Net
    Income, including, without limitation those resulting from the
    application of the Financial Accounting Standards Board (FASB)
    Accounting Standards Codification (ASC) 815, will be
    excluded;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.&#160;any charges relating to any premium or penalty paid,
    write off of deferred finance costs or other charges in
    connection with redeeming or retiring any Indebtedness prior to
    its Stated Maturity will be excluded.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Consolidated Net Tangible Assets&#148;</I> means, with
    respect to any Person at any date of determination, the
    aggregate amount of total assets included in such Person&#146;s
    most recent quarterly or annual consolidated balance sheet
    prepared in accordance with GAAP less applicable reserves
    reflected in such balance sheet, after deducting (a)&#160;all
    current liabilities of Indebtedness incurred under Credit
    Facilities and (b)&#160;all goodwill, trademarks, patents,
    unamortized debt discounts and expenses and other like
    intangibles reflected in such balance sheet.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Continuing Directors&#148;</I> means, as of any date of
    determination, any member of the Board of Directors of the
    Company who:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;was a member of such Board of Directors on the date of
    the indenture;&#160;or
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;was nominated for election or elected to such Board of
    Directors with the approval of a majority of the Continuing
    Directors who were members of such Board at the time of such
    nomination or election.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Credit Agreement&#148;</I> means that certain Senior
    Secured Credit Agreement, dated as of August&#160;20, 2007, by
    and among the Company, as U.S.&#160;borrower and Canadian
    guarantor, Exterran Canada, Limited Partnership, as Canadian
    borrower, Wells Fargo Bank, National Association, as
    U.S.&#160;administrative agent, and the other agents and lenders
    party thereto, including any related notes, guarantees,
    collateral documents, instruments and agreements executed in
    connection therewith, and in each case as amended, restated,
    modified, renewed, refunded, replaced or refinanced from time to
    time.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Credit Facilities&#148;</I> means one or more debt
    facilities (including, without limitation, the Credit Agreement
    and the ABS Facility), commercial paper facilities or secured
    capital markets financings, in each case with
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    banks or other institutional lenders or institutional investors
    providing for revolving credit loans, term loans, receivables
    financing (including through the sale of receivables to such
    lenders or to special purpose entities formed to borrow from
    such lenders against such receivables), letters of credit or
    secured capital markets financings, in each case, as amended,
    restated, modified, renewed, refunded, replaced or refinanced
    (including refinancing with any capital markets transaction) in
    whole or in part from time to time.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Default&#148;</I> means any event that is, or with the
    passage of time or the giving of notice or both would be, an
    Event of Default.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Disqualified Stock&#148;</I> means any Capital Stock
    that, by its terms (or by the terms of any security into which
    it is convertible, or for which it is exchangeable, in each case
    at the option of the holder of the Capital Stock), or upon the
    happening of any event, matures or is mandatorily redeemable,
    pursuant to a sinking fund obligation or otherwise, or
    redeemable at the option of the holder of the Capital Stock, in
    whole or in part, on or prior to the date that is 91&#160;days
    after the date on which the notes mature. Notwithstanding the
    preceding sentence, any Capital Stock that would constitute
    Disqualified Stock solely because the holders of the Capital
    Stock have the right to require the Company to repurchase or
    redeem such Capital Stock upon the occurrence of a change of
    control or an asset sale will not constitute Disqualified Stock
    if the terms of such Capital Stock provide that the Company may
    not repurchase or redeem any such Capital Stock pursuant to such
    provisions unless such repurchase or redemption complies with
    the covenant described above under the caption
    &#147;&#151;&#160;Certain Covenants&#160;&#151; Restricted
    Payments.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Domestic Subsidiary&#148;</I> means any Restricted
    Subsidiary of the Company that was formed under the laws of the
    United States or any state of the United States or the District
    of Columbia and all of whose outstanding Capital Stock is
    Beneficially Owned by the Company.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Equity Interests&#148;</I> means Capital Stock and all
    warrants, options or other rights to acquire Capital Stock (but
    excluding any debt security that is convertible into, or
    exchangeable for, Capital Stock).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Equity Offering&#148;</I> means any public or private
    sale of Capital Stock (other than Disqualified Stock) made for
    cash on a primary basis by the Company after the date of the
    indenture, provided that at any time on or after a Change of
    Control, any sale of Capital Stock to an Affiliate of the
    Company shall not be deemed an Equity Offering.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;exchange notes&#148;</I> means the notes issued in an
    Exchange Offer pursuant to the indenture.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Exchange Offer&#148;</I> has the meaning set forth for
    such term in the applicable registration rights agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Existing Indebtedness&#148;</I> means the aggregate
    principal amount of Indebtedness of the Company and its
    Restricted Subsidiaries (other than Indebtedness under the
    Credit Agreement or the ABS Facility and other than intercompany
    Indebtedness) in existence on the date of the indenture, until
    such amounts are repaid.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The term <I>&#147;fair market value&#148;</I> means the value
    that would be paid by a willing buyer to an unaffiliated willing
    seller in a transaction not involving distress or necessity of
    either party, determined in good faith by the Board of Directors
    of the Company in the case of amounts of $75.0&#160;million or
    more and otherwise by an officer of the Company.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Fixed Charge Coverage Ratio&#148;</I> means with
    respect to any specified Person for any four-quarter reference
    period, the ratio of the Consolidated Cash Flow of such Person
    for such period to the Fixed Charges of such Person for such
    period. In the event that the specified Person or any of its
    Restricted Subsidiaries incurs, assumes, guarantees, repays,
    repurchases or redeems any Indebtedness (other than ordinary
    working capital borrowings) or issues, repurchases or redeems
    preferred stock subsequent to the commencement of the applicable
    four-quarter reference period and on or prior to the date on
    which the event for which the calculation of the Fixed Charge
    Coverage Ratio is made (the &#147;Calculation Date&#148;), then
    the Fixed Charge Coverage Ratio will be calculated giving pro
    forma effect to such incurrence, assumption, guarantee,
    repayment, repurchase or redemption of Indebtedness, or such
    issuance, repurchase or redemption of preferred stock, and the
    use of the proceeds therefrom as if the same had occurred at the
    beginning of such period. If any Indebtedness bears a floating
    rate of interest and is being given pro forma effect, the
    interest expense on such Indebtedness will be calculated as if
    the average rate in effect from the beginning of such period to
    the
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Calculation Date had been the applicable rate for the entire
    period (taking into account any interest Hedging Contract
    applicable to such Indebtedness). If any Indebtedness that is
    being given pro forma effect bears an interest rate at the
    option of such Person, the interest rate shall be calculated by
    applying such optional rate chosen by such Person. Interest on
    Indebtedness that may optionally be determined at an interest
    rate based upon a factor of a prime or similar rate, a
    eurocurrency interbank offered rate, or other rate, shall be
    deemed to have been based upon the rate actually chosen, or, if
    none, then based upon such optional rate chosen as such Person
    may designate.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In addition, for purposes of calculating the Fixed Charge
    Coverage Ratio:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;acquisitions that have been made by the specified Person
    or any of its Restricted Subsidiaries, including through
    mergers, consolidations or otherwise (including acquisitions of
    assets used in a Permitted Business), and including in each case
    any related financing transactions (including repayment of
    Indebtedness) during the four-quarter reference period or
    subsequent to such reference period and on or prior to the
    Calculation Date, will be given pro forma effect as if they had
    occurred on the first day of the four-quarter reference period,
    including any Consolidated Cash Flow and any pro forma expense
    and cost reductions that have occurred or are reasonably
    expected to occur within the next 12&#160;months, in the
    reasonable judgment of the chief financial or accounting officer
    of the Company (regardless of whether those cost savings or
    operating improvements could then be reflected in pro forma
    financial statements in accordance with
    <FONT style="white-space: nowrap">Regulation&#160;S-X</FONT>
    promulgated under the Securities Act or any other regulation or
    policy of the Commission related thereto);
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;the Consolidated Cash Flow attributable to discontinued
    operations, as determined in accordance with GAAP, and
    operations or businesses (and ownership interests therein)
    disposed of prior to the Calculation Date, will be excluded;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;the Fixed Charges attributable to discontinued
    operations, as determined in accordance with GAAP, and
    operations or businesses (and ownership interests therein)
    disposed of prior to the Calculation Date, will be excluded, but
    only to the extent that the obligations giving rise to such
    Fixed Charges will not be obligations of the specified Person or
    any of its Restricted Subsidiaries following the Calculation
    Date;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;any Person that is a Restricted Subsidiary of the
    specified Person on the Calculation Date will be deemed to have
    been a Restricted Subsidiary of the specified Person at all
    times during such four-quarter period;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;any Person that is not a Restricted Subsidiary of the
    specified Person on the Calculation Date will be deemed not to
    have been a Restricted Subsidiary of the specified Person at any
    time during such four-quarter period;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;interest income reasonably anticipated by such Person to
    be received during the applicable four-quarter period from cash
    or Cash Equivalents held by such Person or any Restricted
    Subsidiary of such Person, which cash or Cash Equivalents exist
    on the Calculation Date or will exist as a result of the
    transaction giving rise to the need to calculate the Fixed
    Charge Coverage Ratio, will be included.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Fixed Charges&#148;</I> means, with respect to any
    specified Person for any period, the sum, without duplication,
    of:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;the consolidated interest expense of such Person and its
    Restricted Subsidiaries for such period, whether paid or accrued
    (including, without limitation, amortization of debt issuance
    costs and original issue discount, non-cash interest payments,
    the interest component of any deferred payment obligations, the
    interest component of all payments associated with Capital Lease
    Obligations, imputed interest with respect to Attributable Debt,
    commissions, discounts and other fees and charges incurred in
    respect of letter of credit or bankers&#146; acceptance
    financings), and including the effect of all payments made or
    received pursuant to interest rate Hedging Contracts, but
    excluding any unrealized mark to market losses and gains under
    Hedging Contracts (including, without limitation, those
    resulting from the application of the Financial Accounting
    Standards Board (FASB) Accounting Standards Codification (ASC)
    815); plus
</DIV>
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;the consolidated interest expense of such Person and its
    Restricted Subsidiaries that was capitalized during such period;
    plus
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;any interest expense on Indebtedness of another Person
    that is guaranteed by such Person or one of its Restricted
    Subsidiaries or secured by a Lien on assets of such Person or
    one of its Restricted Subsidiaries, whether or not such
    guarantee or Lien is called upon; plus
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;the product of (a)&#160;all dividends, whether paid or
    accrued and whether or not in cash, on any series of
    Disqualified Stock of such Person or on any series of preferred
    securities of its Restricted Subsidiaries, other than dividends
    payable solely in Equity Interests of the payor (other than
    Disqualified Stock) or to such Person or a Restricted Subsidiary
    of such Person, times (b)&#160;a fraction, the numerator of
    which is one and the denominator of which is one minus the then
    current combined federal, state and local statutory tax rate of
    such Person, expressed as a decimal,
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    in each case, on a consolidated basis and determined in
    accordance with GAAP.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Foreign Subsidiary&#148;</I> means any Restricted
    Subsidiary of the Company that (a)&#160;is not a Domestic
    Subsidiary and (b)&#160;has 50% or more of its consolidated
    assets located outside the United States or any territory
    thereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;GAAP&#148;</I> means generally accepted accounting
    principles in the United States, which are in effect from time
    to time.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The term &#147;<I>guarantee&#148;</I> means a guarantee other
    than by endorsement of negotiable instruments for collection in
    the ordinary course of business, direct or indirect, in any
    manner including, without limitation, by way of a pledge of
    assets, acting as co-obligor or through letters of credit or
    reimbursement agreements in respect thereof, of all or any part
    of any Indebtedness, provided that any agreement by the Company
    or any of its Restricted Subsidiaries to repurchase equipment at
    a price not greater than its fair market value shall not be
    deemed a guarantee of Indebtedness. When used as a verb,
    &#147;guarantee&#148; has a correlative meaning.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Guarantors&#148;</I> means each of:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;the Subsidiaries of the Company executing the indenture
    as initial Guarantors;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;any other Restricted Subsidiary of the Company that
    becomes a Guarantor in accordance with the provisions of the
    indenture;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    and their respective successors and assigns.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Hedging Contracts&#148;</I> means, with respect to any
    specified Person:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;interest rate swap agreements, interest rate cap
    agreements and interest rate collar agreements entered into with
    one or more financial institutions and designed to protect the
    Person or any of its Restricted Subsidiaries entering into the
    agreement against fluctuations in interest rates with respect to
    Indebtedness incurred;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;foreign exchange contracts and currency protection
    agreements entered into with one or more financial institutions
    and designed to protect the Person or any of its Restricted
    Subsidiaries entering into the agreement against fluctuations in
    currency exchanges rates with respect to Indebtedness incurred;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;any commodity futures contract, commodity option or
    other similar agreement or arrangement designed to protect
    against fluctuations in the price of commodities used, produced,
    processed or sold by that Person or any of its Restricted
    Subsidiaries at the time;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;other agreements or arrangements designed to protect
    such Person or any of its Restricted Subsidiaries against
    fluctuations in interest rates, commodity prices or currency
    exchange rates;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    and in each case are entered into only in the normal course of
    business and not for speculative purposes.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Holder&#148;</I> means a Person in whose name a Note is
    registered.
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Indebtedness&#148;</I> means, with respect to any
    specified Person, any indebtedness of such Person, whether or
    not contingent:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;in respect of borrowed money;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;evidenced by bonds, notes, debentures or similar
    instruments;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;in respect of all outstanding letters of credit issued
    for the account of such Person that support obligations that
    constitute Indebtedness (provided that the amount of such
    letters of credit included in Indebtedness shall not exceed the
    amount of the Indebtedness being supported) and, without
    duplication, the unreimbursed amount of all drafts drawn under
    letters of credit issued for the account of such Person;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;in respect of bankers&#146; acceptances;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;representing Capital Lease Obligations or Attributable
    Debt in respect of sale and leaseback transactions;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;representing the balance deferred and unpaid of the
    purchase price of any property, except any such balance that
    constitutes an accrued expense or trade payable;&#160;or
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;representing any obligations under Hedging Contracts,
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    if and to the extent any of the preceding items (other than
    letters of credit and obligations under Hedging Contracts) would
    appear as a liability upon a balance sheet of the specified
    Person prepared in accordance with GAAP. In addition, the term
    &#147;Indebtedness&#148; includes all Indebtedness of other
    Persons secured by a Lien on any asset of the specified Person
    (whether or not such Indebtedness is assumed by the specified
    Person) and, to the extent not otherwise included, the guarantee
    by the specified Person of any Indebtedness of any other Person.
    For the avoidance of doubt, the term &#147;Indebtedness&#148;
    excludes (i)&#160;taxes, assessments or other similar
    governmental charges or claims, (ii)&#160;any obligation arising
    from any agreement providing for indemnities, purchase price
    adjustments, holdbacks, contingency payment obligations based on
    the performance of the acquired or disposed assets or similar
    obligations (other than guarantees of Indebtedness) incurred by
    the specified Person in connection with the acquisition or
    disposition of assets, (iii)&#160;any obligation arising from
    the honoring by a bank or other financial institution of a
    check, draft or similar instrument drawn against insufficient
    funds in the ordinary course of business, provided that such
    obligation is extinguished within five Business Days of its
    incurrence, and (iv)&#160;obligations owed on a short-term basis
    to banks and other financial institutions incurred in the
    ordinary course of business that arise in connection with
    ordinary banking arrangements to manage cash balances of such
    Person.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The amount of any Indebtedness outstanding as of any date will
    be:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;the accreted value of the Indebtedness, in the case of
    any Indebtedness issued with original issue discount;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;in the case of obligations under any Hedging Contracts,
    the termination value of the agreement or arrangement giving
    rise to such obligations that would be payable by such Person at
    such date;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;the principal amount of the Indebtedness, together with
    any interest on the Indebtedness that is more than 30&#160;days
    past due, in the case of any other Indebtedness.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Investment Grade Rating&#148;</I> means a rating equal
    to or higher than Baa3 (or the equivalent) by Moody&#146;s and
    BBB- (or the equivalent) by S&#038;P.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Investments&#148;</I> means, with respect to any
    Person, all direct or indirect investments by such Person in
    other Persons (including Affiliates) in the forms of loans
    (including guarantees or other obligations), advances or capital
    contributions (excluding (1)&#160;commission, travel, relocation
    costs and similar advances to officers and employees made in the
    ordinary course of business and (2)&#160;advances to customers
    in the ordinary course of business that are recorded as accounts
    receivable on the balance sheet of the lender), purchases or
    other acquisitions for consideration of Indebtedness, Equity
    Interests or other securities, together with all items that are
    or would be classified as investments on a balance sheet
    prepared in accordance with GAAP. If the
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Company or any Restricted Subsidiary of the Company sells or
    otherwise disposes of any Equity Interests of any direct or
    indirect Restricted Subsidiary of the Company such that, after
    giving effect to any such sale or disposition, such Person is no
    longer a Restricted Subsidiary of the Company, the Company will
    be deemed to have made an Investment on the date of any such
    sale or disposition in an amount equal to the fair market value
    of the Equity Interests of such Restricted Subsidiary not sold
    or disposed of in an amount determined as provided in the final
    paragraph of the covenant described above under the caption
    &#147;&#151;&#160;Certain Covenants&#160;&#151; Restricted
    Payments.&#148; The acquisition by the Company or any Subsidiary
    of the Company of a Person that holds an Investment in a third
    Person will be deemed to be an Investment made by the Company or
    such Subsidiary in such third Person in an amount equal to the
    fair market value of the Investment held by the acquired Person
    in such third Person on the date of any such acquisition in an
    amount determined as provided in the final paragraph of the
    covenant described above under the caption
    &#147;&#151;&#160;Certain Covenants&#160;&#151; Restricted
    Payments.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Joint Venture&#148;</I> means any Person that is not a
    direct or indirect Subsidiary of the Company in which the
    Company or any of its Restricted Subsidiaries makes any
    Investment.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Lien&#148; </I>means, with respect to any asset, any
    mortgage, lien, pledge, charge, security interest or encumbrance
    of any kind in respect of such asset, whether or not filed,
    recorded or otherwise perfected under applicable law, including
    any conditional sale or other title retention agreement, any
    lease in the nature thereof, any option or other agreement to
    sell or give a security interest in and any filing of or
    agreement to give any financing statement under the Uniform
    Commercial Code (or equivalent statutes) of any jurisdiction
    other than a precautionary financing statement respecting a
    lease not intended as a security agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Make Whole Premium&#148;</I> means, with respect to a
    note at any time, the excess, if any, of (a)&#160;the present
    value at such time of (i)&#160;the redemption price of such note
    at December&#160;1, 2013 plus (ii)&#160;any required interest
    payments due on such note through December&#160;1, 2013 (except
    for currently accrued and unpaid interest), computed using a
    discount rate equal to the Treasury Rate plus 50&#160;basis
    points, discounted to the redemption date on a semi-annual basis
    (assuming a
    <FONT style="white-space: nowrap">360-day</FONT> year
    consisting of twelve
    <FONT style="white-space: nowrap">30-day</FONT>
    months), over (b)&#160;the principal amount of such note.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Moody&#146;s&#148;</I> means Moody&#146;s Investors
    Service, Inc. or any successor to the rating agency business
    thereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Net Proceeds&#148;</I> means the aggregate cash
    proceeds received by the Company or any of its Restricted
    Subsidiaries in respect of any Asset Sale (including, without
    limitation, any cash received upon the sale or other disposition
    of any non-cash consideration received in any Asset Sale), net
    of:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;the direct costs relating to such Asset Sale, including,
    without limitation, legal, accounting and investment banking
    fees and sales commissions, severance costs and any relocation
    expenses incurred as a result of the Asset Sale;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;taxes paid or payable as a result of the Asset Sale, in
    each case, after taking into account any available tax credits
    or deductions and any tax sharing arrangements;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;amounts required to be applied to the repayment of
    Indebtedness secured by a Lien on the properties or assets that
    were the subject of such Asset Sale;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;any amounts to be set aside in any reserve established
    in accordance with GAAP or any amount placed in escrow, in
    either case for adjustment in respect of the sale price of such
    properties or assets or for liabilities associated with such
    Asset Sale and retained by the Company or any of its Restricted
    Subsidiaries until such time as such reserve is reversed or such
    escrow arrangement is terminated, in which case Net Proceeds
    shall include only the amount of the reserve so reversed or the
    amount returned to the Company or its Restricted Subsidiaries
    from such escrow arrangement, as the case may be.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Non-Recourse Debt&#148;</I> means Indebtedness:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;as to which neither the Company nor any of its
    Restricted Subsidiaries (a)&#160;provides credit support of any
    kind (including any undertaking, agreement or instrument that
    would constitute Indebtedness), (b)&#160;is directly or
    indirectly liable as a guarantor or otherwise, or (c)&#160;is
    the lender;
</DIV>
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    <BR>
    55
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;no default with respect to which (including any rights
    that the holders of the Indebtedness may have to take
    enforcement action against an Unrestricted Subsidiary) would
    permit upon notice, lapse of time or both any holder of any
    other Indebtedness (other than the notes) of the Company or any
    of its Restricted Subsidiaries to declare a default on such
    other Indebtedness or cause the payment of the Indebtedness to
    be accelerated or payable prior to its Stated Maturity;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;as to which the lenders have been notified in writing
    that they will not have any recourse to the Capital Stock or
    assets of the Company or any of its Restricted Subsidiaries
    except as contemplated by clause&#160;(9) of the definition of
    Permitted Liens.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    For purposes of determining compliance with the covenant
    described under &#147;&#151;&#160;Certain Covenants&#160;&#151;
    Incurrence of Indebtedness and Issuance of Preferred Stock&#148;
    above, in the event that any Non-Recourse Debt of any of the
    Company&#146;s Unrestricted Subsidiaries ceases to be
    Non-Recourse Debt of such Unrestricted Subsidiary, such event
    will be deemed to constitute an incurrence of Indebtedness by a
    Restricted Subsidiary of the Company.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Obligations&#148;</I> means any principal, premium, if
    any, interest (including interest accruing on or after the
    filing of any petition in bankruptcy or for reorganization,
    whether or not a claim for post-filing interest is allowed in
    such proceeding), penalties, fees, charges, expenses,
    indemnifications, reimbursement obligations, damages,
    guarantees, and other liabilities or amounts payable under the
    documentation governing any Indebtedness or in respect thereto.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Omnibus Agreement&#148;</I> means the Second Amended
    And Restated Omnibus Agreement, dated as of November&#160;10,
    2009, by and among the Company, Exterran Energy Solutions, L.P.,
    Exterran GP LLC, Exterran General Partner, L.P., the Partnership
    and EXLP Operating LLC, as amended by the First Amendment
    thereto, dated as of August&#160;11, 2010.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Partnership&#148;</I> means Exterran Partners, L.P., a
    Delaware limited partnership, and its successors.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Permitted Acquisition Indebtedness&#148;</I> means
    Indebtedness or Disqualified Stock of the Company or any of its
    Restricted Subsidiaries to the extent such Indebtedness or
    Disqualified Stock was Indebtedness or Disqualified Stock of any
    other Person existing at the time (a)&#160;such Person became a
    Restricted Subsidiary of the Company or (b)&#160;such Person was
    merged or consolidated with or into the Company or any of its
    Restricted Subsidiaries, provided that on the date such Person
    became a Restricted Subsidiary of the Company or the date such
    Person was merged or consolidated with or into the Company or
    any of its Restricted Subsidiaries, as applicable, either
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;immediately after giving effect to such transaction on a
    pro forma basis as if the same had occurred at the beginning of
    the applicable four-quarter period, the Company or such
    Restricted Subsidiary, as applicable, would be permitted to
    incur at least $1.00 of additional Indebtedness pursuant to the
    Fixed Charge Coverage Ratio test set forth in the first
    paragraph of the covenant described above under the caption
    &#147;&#151;&#160;Certain Covenants&#160;&#151; Incurrence of
    Indebtedness and Issuance of Preferred Stock,&#148;&#160;or
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;immediately after giving effect to such transaction on a
    pro forma basis as if the same had occurred at the beginning of
    the applicable four-quarter period, the Fixed Charge Coverage
    Ratio of the Company would be equal to or greater than the Fixed
    Charge Coverage Ratio of the Company immediately prior to such
    transaction.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Permitted Business&#148;</I> means each business in
    which the Company or any of its Restricted Subsidiaries is
    engaged on the date of the indenture and any other business that
    is related or ancillary thereto and reasonable extensions
    thereof, including natural gas or other hydrocarbon gathering,
    processing, treating and transportation businesses.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Permitted Business Investments&#148;</I> means
    Investments by the Company or any of its Restricted Subsidiaries
    in any Unrestricted Subsidiary of the Company or in any Joint
    Venture, provided that:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;at the time of such Investment and immediately
    thereafter, the Company could incur $1.00 of additional
    Indebtedness under the Fixed Charge Coverage Ratio test set
    forth in the first paragraph of the
</DIV>
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    covenant described under &#147;&#151;&#160;Certain
    Covenants&#160;&#151; Incurrence of Indebtedness and Issuance of
    Preferred Stock&#148; above;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;if such Unrestricted Subsidiary or Joint Venture has
    outstanding Indebtedness at the time of such Investment, either
    (a)&#160;all such Indebtedness is Non-Recourse Debt or
    (b)&#160;any such Indebtedness of such Unrestricted Subsidiary
    or Joint Venture that is recourse to the Company or any of its
    Restricted Subsidiaries (which shall include, without
    limitation, all Indebtedness of such Unrestricted Subsidiary or
    Joint Venture for which the Company or any of its Restricted
    Subsidiaries may be directly or indirectly, contingently or
    otherwise, obligated to pay, whether pursuant to the terms of
    such Indebtedness, by law or pursuant to any guarantee,
    including, without limitation, any &#147;claw-back,&#148;
    &#147;make-well&#148; or &#147;keep-well&#148; arrangement)
    could, at the time such Investment is made, be incurred at that
    time by the Company and its Restricted Subsidiaries under the
    Fixed Charge Coverage Ratio test set forth in the first
    paragraph of the covenant described under
    &#147;&#151;&#160;Certain Covenants&#160;&#151; Incurrence of
    Indebtedness and Issuance of Preferred Stock;&#148;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;such Unrestricted Subsidiary&#146;s or Joint
    Venture&#146;s activities are not outside the scope of any
    Permitted Business.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Permitted Investments&#148;</I> means:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;any Investment in the Company (including, without
    limitation, through purchases of notes) or in a Restricted
    Subsidiary of the Company;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;any Investment in Cash Equivalents;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;any Investment by the Company or any Restricted
    Subsidiary of the Company in a Person, if as a result of such
    Investment:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    a.&#160;such Person becomes a Restricted Subsidiary of the
    Company;&#160;or
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    b.&#160;such Person is merged, consolidated or amalgamated with
    or into, or transfers or conveys substantially all of its
    properties or assets to, or is liquidated into, the Company or a
    Restricted Subsidiary of the Company;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;any Investment made as a result of the receipt of
    non-cash consideration from an Asset Sale that was made pursuant
    to and in compliance with the covenant described above under the
    caption &#147;&#151;&#160;Repurchase at the Option of
    Holders&#160;&#151; Asset Sales,&#148; including Asset Swaps;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;any Investment in any Person solely in exchange for the
    issuance of Equity Interests (other than Disqualified Stock) of
    the Company;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;any Investments received in compromise of obligations of
    trade creditors or customers that were incurred in the ordinary
    course of business, including pursuant to any plan of
    reorganization or similar arrangement upon the bankruptcy or
    insolvency of any trade creditor or customer, or as a result of
    a foreclosure by the Company or any of its Restricted
    Subsidiaries with respect to any secured Investment in default;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;Hedging Contracts;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.&#160;Permitted Business Investments;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.&#160;any Investment in the Partnership to maintain the
    approximate 2% general partner interest in the
    Partnership;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.&#160;other Investments in any Person having an aggregate
    fair market value (measured on the date each such Investment was
    made and without giving effect to subsequent changes in value),
    when taken together with all other Investments made pursuant to
    this clause&#160;(10) that are at the time outstanding, do not
    exceed the greater of (a)&#160;$100.0&#160;million and
    (b)&#160;2.5% of the Company&#146;s Consolidated Net Tangible
    Assets.
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Permitted Liens&#148;</I> means:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;any Lien with respect to the Credit Agreement or any
    other Credit Facilities;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Liens in favor of the Company or the Guarantors;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;Liens on property of a Person existing at the time such
    Person is merged with or into or consolidated with the Company
    or any Restricted Subsidiary of the Company, provided that such
    Liens were in existence prior to the contemplation of such
    merger or consolidation and do not extend to any assets (other
    than improvements thereon, accessions thereto and proceeds
    thereof) other than those of the Person merged into or
    consolidated with the Company or the Restricted Subsidiary;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;Liens on property existing at the time of acquisition of
    the property by the Company or any Restricted Subsidiary of the
    Company, provided that such Liens were in existence prior to the
    contemplation of such acquisition;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;any interest or title of a lessor to the property
    subject to a Capital Lease Obligation;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;Liens for the purpose of securing the payment of all or
    a part of the purchase price of, or Capital Lease Obligations,
    purchase money obligations or other payments incurred to finance
    the acquisition, lease, improvement or construction of or
    repairs or additions to, assets or property acquired or
    constructed in the ordinary course of business; provided that:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    a.&#160;the aggregate principal amount of Indebtedness secured
    by such Liens is otherwise permitted to be incurred under the
    indenture and does not exceed the cost of the assets or property
    so acquired or constructed;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    b.&#160;such Liens are created within 180&#160;days of the later
    of the acquisition, lease, completion of improvements,
    construction, repairs or additions or commencement of full
    operation of the assets or property subject to such Lien and do
    not encumber any other assets or property of the Company or any
    Restricted Subsidiary other than such assets or property and
    assets affixed or appurtenant thereto;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;Liens existing on the date of the indenture;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.&#160;Liens to secure the performance of tenders, bids,
    statutory obligations, surety or appeal bonds, trade contracts,
    government contracts, operating leases, performance bonds or
    other obligations of a like nature incurred in the ordinary
    course of business;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.&#160;Liens on and pledges of the Equity Interests of any
    Unrestricted Subsidiary or any Joint Venture owned by the
    Company or any Restricted Subsidiary of the Company to the
    extent securing Non-Recourse Debt or other Indebtedness of such
    Unrestricted Subsidiary or Joint Venture;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.&#160;Liens on pipelines or pipeline facilities that arise by
    operation of law;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    11.&#160;Liens arising under joint venture agreements,
    partnership agreements and other agreements arising in the
    ordinary course of business of the Company and its Restricted
    Subsidiaries that are customary in any Permitted Business;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    12.&#160;Liens upon specific items of inventory, receivables or
    other goods or proceeds of the Company or any of its Restricted
    Subsidiaries securing such Person&#146;s obligations in respect
    of bankers&#146; acceptances or receivables securitizations
    issued or created for the account of such Person to facilitate
    the purchase, shipment or storage of such inventory, receivables
    or other goods or proceeds and permitted by the covenant
    &#147;&#151;&#160;Certain Covenants&#160;&#151; Incurrence of
    Indebtedness and Issuance of Preferred Stock;&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    13.&#160;Liens securing Obligations of the Company or any
    Guarantor under the notes or the Subsidiary Guarantees, as the
    case may be;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    14.&#160;Liens securing any Indebtedness equally and ratably
    with all Obligations due under the notes or any Subsidiary
    Guarantee pursuant to a contractual covenant that limits Liens
    in a manner substantially similar to the covenant described
    above under &#147;&#151;&#160;Certain Covenants&#160;&#151;
    Liens;&#148;
</DIV>
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    15.&#160;Liens to secure performance of Hedging Contracts of the
    Company or any of its Restricted Subsidiaries;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    16.&#160;Liens securing any insurance premium financing under
    customary terms and conditions, provided that no such Lien may
    extend to or cover any assets or property other than the
    insurance being acquired with such financing, the proceeds
    thereof and any unearned or refunded insurance premiums related
    thereto;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    17.&#160;other Liens incurred by the Company or any Restricted
    Subsidiary of the Company, provided that, after giving effect to
    any such incurrence, the aggregate principal amount of all
    Indebtedness then outstanding and secured by any Liens incurred
    pursuant to this clause&#160;(17) does not exceed the greater of
    (a)&#160;$100.0&#160;million and (b)&#160;2.5% of the
    Company&#146;s Consolidated Net Tangible Assets;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    18.&#160;any Lien renewing, extending, refinancing or refunding
    a Lien permitted by clauses&#160;(1) through (17)&#160;above,
    provided that (a)&#160;the principal amount of the Indebtedness
    secured by such Lien is not increased except by an amount equal
    to a reasonable premium or other reasonable amount paid, and
    fees and expenses reasonably incurred, in connection therewith
    and by an amount equal to any existing commitments unutilized
    thereunder and (b)&#160;no assets encumbered by any such Lien
    other than the assets permitted to be encumbered immediately
    prior to such renewal, extension, refinance or refund are
    encumbered thereby (other than improvements thereon, accessions
    thereto and proceeds thereof).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Permitted MLP Dispositions&#148;</I> means any sale,
    lease, conveyance or other disposition of any properties or
    assets by the Company or any of its Restricted Subsidiaries or
    the issuance of Equity Interests in any of the Company&#146;s
    Restricted Subsidiaries or the sale of Equity Interests in any
    of its Restricted Subsidiaries, on the one hand, to the
    Partnership or any of its Subsidiaries, on the other hand, in
    exchange for cash (with the items described in
    Sections&#160;3(a) and (b)&#160;of the first paragraph under
    &#147;&#151;&#160;Repurchase at the Option of
    Holders&#160;&#151; Asset Sales&#148; deemed to be cash), Cash
    Equivalents, Additional Assets or Equity Interests in the
    Partnership (including general partner units necessary to
    maintain the general partner&#146;s interest), or any
    combination thereof, provided at the time of such disposition,
    and after giving effect to such disposition and the receipt of
    consideration therefor, the Consolidated Leverage Ratio is less
    than 4.5 to 1.0.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Permitted Refinancing Indebtedness&#148;</I> means any
    Indebtedness of the Company or any of its Restricted
    Subsidiaries issued in exchange for, or the net proceeds of
    which are used to extend, refinance, renew, replace, defease or
    refund other Indebtedness of the Company or any of its
    Restricted Subsidiaries (other than intercompany Indebtedness),
    provided that:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;the principal amount of such Permitted Refinancing
    Indebtedness does not exceed the principal amount of the
    Indebtedness being extended, refinanced, renewed, replaced,
    defeased or refunded (plus all accrued interest on the
    Indebtedness and the amount of all expenses and premiums
    incurred in connection therewith);
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;such Permitted Refinancing Indebtedness has a final
    maturity date later than the final maturity date of, and has a
    Weighted Average Life to Maturity equal to or greater than the
    Weighted Average Life to Maturity of, the Indebtedness being
    extended, refinanced, renewed, replaced, defeased or refunded;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;if the Indebtedness being extended, refinanced, renewed,
    replaced, defeased or refunded is subordinated in right of
    payment to the notes or the Subsidiary Guarantees, such
    Permitted Refinancing Indebtedness is subordinated in right of
    payment to the notes or the Subsidiary Guarantees on terms at
    least as favorable to the Holders of notes as those contained in
    the documentation governing the Indebtedness being extended,
    refinanced, renewed, replaced, defeased or refunded;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;such Indebtedness is not incurred (other than by way of
    a guarantee) by a Restricted Subsidiary of the Company if the
    Company is the issuer or other primary obligor on the
    Indebtedness being extended, refinanced, renewed, replaced,
    defeased or refunded.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Notwithstanding the preceding, any Indebtedness incurred under
    Credit Facilities pursuant to the covenant &#147;Incurrence of
    Indebtedness and Issuance of Preferred Stock&#148; shall be
    subject only to the refinancing provision
</DIV>
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    59
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    in the definition of Credit Facilities and not pursuant to the
    requirements set forth in the definition of Permitted
    Refinancing Indebtedness.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Person&#148;</I> means any individual, corporation,
    partnership, joint venture, association, joint-stock company,
    trust, unincorporated organization, limited liability company or
    government or other entity.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Restricted Investment&#148;</I> means an Investment
    other than a Permitted Investment.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Restricted Subsidiary&#148;</I> of a Person means any
    Subsidiary of the referent Person that is not an Unrestricted
    Subsidiary.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;S&#038;P&#148;</I> refers to Standard&#160;&#038;
    Poor&#146;s Ratings Services, a division of The McGraw-Hill
    Companies, Inc., or any successor to the rating agency business
    thereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Senior Debt&#148;</I> means
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;all Indebtedness of the Company or any of its Restricted
    Subsidiaries outstanding under Credit Facilities and all
    obligations under Hedging Contracts with respect thereto;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;all Existing Indebtedness;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;any other Indebtedness of the Company or any of its
    Restricted Subsidiaries permitted to be incurred under the terms
    of the indenture, unless the instrument under which such
    Indebtedness is incurred expressly provides that it is
    subordinated in right of payment to the notes or any Subsidiary
    Guarantee;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;all Obligations with respect to the items listed in the
    preceding clauses (1), (2)&#160;and (3).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Notwithstanding anything to the contrary in the preceding
    sentence, Senior Debt will not include:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    a.&#160;any intercompany Indebtedness of the Company or any of
    its Restricted Subsidiaries to the Company or any of its
    Affiliates;&#160;or
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    b.&#160;any Indebtedness that is incurred in violation of the
    indenture.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    For the avoidance of doubt, &#147;Senior Debt&#148; will not
    include any trade payables or taxes owed or owing by the Company
    or any of its Restricted Subsidiaries.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Significant Subsidiary&#148;</I> means any Subsidiary
    that would be a &#147;significant subsidiary&#148; as defined in
    Article&#160;1,
    <FONT style="white-space: nowrap">Rule&#160;1-02</FONT>
    of
    <FONT style="white-space: nowrap">Regulation&#160;S-X,</FONT>
    promulgated pursuant to the Securities Act, as such Regulation
    is in effect on the date of the indenture.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Stated Maturity&#148;</I> means, with respect to any
    installment of interest or principal on any series of
    Indebtedness, the date on which the payment of interest or
    principal was scheduled to be paid in the original documentation
    governing such Indebtedness, and will not include any contingent
    obligations to repay, redeem or repurchase any such interest or
    principal prior to the date originally scheduled for the payment
    thereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Subsidiary&#148;</I> means, with respect to any
    specified Person:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;any corporation, association or other business entity
    (other than a partnership or limited liability company) of which
    more than 50% of the total voting power of Voting Stock is at
    the time owned or controlled, directly or indirectly, by that
    Person or one or more of the other Subsidiaries of that Person
    (or a combination thereof);&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;any partnership (whether general or limited) or limited
    liability company (a)&#160;the sole general partner or member of
    which is such Person or a Subsidiary of such Person, or
    (b)&#160;if there is more than a single general partner or
    member, either (x)&#160;the only managing general partners or
    managing members of which are such Person or one or more
    Subsidiaries of such Person (or any combination thereof) or
    (y)&#160;such Person owns or controls, directly or indirectly, a
    majority of the outstanding general partner interests, member
    interests or other Voting Stock of such partnership or limited
    liability company, respectively; provided that, notwithstanding
    the provisions in clauses&#160;(1) and (2), any corporation,
    association, partnership, limited liability company or other
    business entity that (i)&#160;is formed in a jurisdiction other
    than under the laws of the United States or any state of the
    United States or the District
</DIV>
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    of Columbia, (ii)&#160;has more than 50% of its consolidated
    assets located outside the United States or any territory
    thereof, (iii)&#160;is controlled by such Person or any
    Restricted Subsidiary of such Person through contractual rights
    or otherwise and (iv)&#160;consolidates its financial results
    with such Person or a Restricted Subsidiary of such Person in
    accordance with GAAP, will be deemed to be a Subsidiary of such
    Person.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Subsidiary Guarantee&#148;</I> means any guarantee by a
    Guarantor of the Company&#146;s Obligations under the indenture
    and on the notes.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Total Indebtedness&#148;</I> means, at any time
    (without duplication), the sum of (1)&#160;100% of the
    non-current portion of long-term debt of the Company and its
    Restricted Subsidiaries reflected on the consolidated balance
    sheet of the Company and its Restricted Subsidiaries as of the
    Company&#146;s most recently ended fiscal quarter for which
    internal financial statements are available, plus (2)&#160;any
    Indebtedness of the Company and its Restricted Subsidiaries that
    is not reflected on the consolidated balance described in
    clause&#160;(1) above which has been used to finance assets that
    generate income included in Consolidated Cash Flow of the
    Company and its Restricted Subsidiaries for the Company&#146;s
    most recently ended four full fiscal quarters for which internal
    financial statements are available, plus (3)&#160;the current
    portion of the debt set forth in clause&#160;(1) above, less
    (4)&#160;any Capital Lease Obligations arising from a change in
    GAAP from the date of the indenture that are included in
    clauses&#160;(1) through (3)&#160;above, less (4)&#160;any
    Indebtedness included in clauses&#160;(1) through (3)&#160;above
    representing obligations under Hedging Contracts.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Treasury Rate&#148;</I> means the yield to maturity at
    the time of computation of United States Treasury securities
    with a constant maturity (as compiled and published in the most
    recent Federal Reserve Statistical Release H.15(519) which has
    become publicly available at least two Business Days prior to
    the date fixed for redemption (or, if such Statistical Release
    is no longer published, any publicly available source of similar
    market data)) most nearly equal to the period from the
    redemption date to December&#160;1, 2013; provided, however,
    that if such period is not equal to the constant maturity of a
    United States Treasury security for which a weekly average yield
    is given, the Company shall obtain the Treasury Rate by linear
    interpolation(calculated to the nearest one-twelfth of a year)
    from the weekly average yields of United States Treasury
    securities for which such yields are given, except that if the
    period from the redemption date to December&#160;1, 2013 is less
    than one year, the weekly average yield on actually traded
    United States Treasury securities adjusted to a constant
    maturity of one year shall be used. The Company will
    (a)&#160;calculate the Treasury Rate on the second Business Day
    preceding the applicable redemption date and (b)&#160;prior to
    such redemption date file with the trustee an officers&#146;
    certificate setting forth the Make Whole Premium and the
    Treasury Rate and showing the calculation of each in reasonable
    detail.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Unrestricted Subsidiary&#148;</I> means (i)&#160;the
    Partnership and each of its Subsidiaries and (ii)&#160;any
    Subsidiary of the Company that is designated by the Board of
    Directors of the Company as an Unrestricted Subsidiary pursuant
    to a Board Resolution, but only to the extent that each of the
    Partnership, any Subsidiary of the Partnership and such other
    Subsidiary:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;except to the extent permitted by subclause (2)(b) of
    the definition of &#147;Permitted Business Investments,&#148;
    has no Indebtedness other than Non-Recourse Debt owing to any
    Person other than the Company or any of its Restricted
    Subsidiaries;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;except as permitted under the covenant described above
    under the caption &#147;Certain Covenants&#160;&#151;
    Transactions with Affiliates,&#148; is not party to any
    agreement, contract, arrangement or understanding with the
    Company or any Restricted Subsidiary of the Company unless the
    terms of any such agreement, contract, arrangement or
    understanding are no less favorable to the Company or such
    Restricted Subsidiary than those that might be obtained at the
    time from Persons who are not Affiliates of the Company;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;is a Person with respect to which neither the Company
    nor any of its Restricted Subsidiaries has any direct or
    indirect obligation (a)&#160;to subscribe for additional Equity
    Interests or (b)&#160;to maintain or preserve such Person&#146;s
    financial condition or cause such Person to achieve any
    specified levels of operating results;&#160;and
</DIV>
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    <BR>
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;has not guaranteed or otherwise directly or indirectly
    provided credit support for any Indebtedness of the Company or
    any of its Restricted Subsidiaries.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    All Subsidiaries of an Unrestricted Subsidiary shall also be
    Unrestricted Subsidiaries.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any designation of a Subsidiary of the Company as an
    Unrestricted Subsidiary will be evidenced to the trustee by
    filing with the trustee a Board Resolution giving effect to such
    designation and an officers&#146; certificate certifying that
    such designation complied with the preceding conditions and was
    permitted by the covenant described above under the caption
    &#147;&#151;&#160;Certain Covenants&#160;&#151; Restricted
    Payments.&#148; If, at any time, any Unrestricted Subsidiary
    would fail to meet the preceding requirements as an Unrestricted
    Subsidiary, it will thereafter cease to be an Unrestricted
    Subsidiary for purposes of the indenture and any Indebtedness of
    such Subsidiary will be deemed to be incurred by a Restricted
    Subsidiary of the Company as of such date and, if such
    Indebtedness is not permitted to be incurred as of such date
    under the covenant described under the caption
    &#147;&#151;&#160;Certain Covenants&#160;&#151; Incurrence of
    Indebtedness and Issuance of Preferred Stock,&#148; the Company
    will be in default of such covenant.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Voting Stock&#148;</I> of any Person as of any date
    means the Capital Stock of such Person that is at the time
    entitled (without regard to the occurrence of any contingency)
    to vote in the election of the Board of Directors of such Person.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>&#147;Weighted Average Life to Maturity&#148;</I> means, when
    applied to any Indebtedness at any date, the number of years
    obtained by dividing:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;the sum of the products obtained by multiplying
    (a)&#160;the amount of each then remaining installment, sinking
    fund, serial maturity or other required payments of principal,
    including payment at final maturity, in respect of the
    Indebtedness, by (b)&#160;the number of years (calculated to the
    nearest one-twelfth) that will elapse between such date and the
    making of such payment; by
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;the then outstanding principal amount of such
    Indebtedness.
</DIV>

<A name='H84127152'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">MATERIAL
    U.S. FEDERAL INCOME TAX CONSEQUENCES</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following discussion is a summary of material U.S. federal
    income tax consequences relevant to the exchange of exchange
    notes for outstanding notes, but does not purport to be a
    complete analysis for all potential tax effects. The discussion
    is based upon the Internal Revenue Code of 1986, as amended,
    Treasury Regulations, Internal Revenue Service (&#147;IRS&#148;)
    rulings and pronouncements and judicial decisions now in effect,
    all of which may be subject to change at any time by
    legislative, judicial or administrative action. These changes
    may be applied retroactively in a manner that could adversely
    affect a holder of exchange notes.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In this discussion, we do not purport to address all tax
    considerations that may be important to a particular holder in
    light of the holder&#146;s circumstances, or to certain
    categories of investors that may be subject to special rules,
    such as financial institutions, insurance companies, regulated
    investment companies, tax-exempt organizations, real estate
    investment trusts, traders in securities or commodities that
    elect mark to market treatment, governmental bodies or agencies
    or instrumentalities thereof, certain former citizens and
    residents of the United States, persons whose &#147;functional
    currency&#148; is not the U.S.&#160;dollar, dealers in
    securities or currencies, or persons who hold the notes as part
    of a hedge, conversion transaction, straddle or other risk
    reduction transaction. This discussion also does not address any
    aspect of state, local, or foreign taxation.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Investors are urged to consult their own tax advisors
    regarding the application of the U.S.&#160;federal income tax
    laws to their particular situations and the applicability and
    effect of state, local or foreign tax laws and tax treaties.</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exchange
    Offer</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The exchange of exchange notes for outstanding notes pursuant to
    the Exchange Offer will not be a taxable event to a holder for
    U.S. federal income tax purposes. Accordingly, a holder will not
    recognize gain
</DIV>
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    <BR>
    62
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    or loss upon receipt of an exchange note for an outstanding
    note, and the holder will have the same basis and holding period
    in the exchange note as it had in the outstanding notes
    immediately before the exchange.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Tax
    Consequences to U.S. Holders</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    You are a &#147;U.S.&#160;holder&#148; for purposes of this
    discussion if you are a beneficial owner of a note and you are
    for U.S.&#160;federal income tax purposes:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    an individual who is a U.S.&#160;citizen or U.S.&#160;resident
    alien;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a corporation, or other entity taxable as a corporation for
    U.S.&#160;federal income tax purposes, that was created or
    organized in or under the laws of the United States, any state
    thereof or the District of Columbia;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    an estate whose income is subject to U.S.&#160;federal income
    taxation regardless of its source;&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a trust if a court within the United States is able to exercise
    primary supervision over the administration of the trust and one
    or more United States persons have the authority to control all
    substantial decisions of the trust, or that has a valid election
    in effect under applicable U.S.&#160;Treasury Regulations to be
    treated as a United States person.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If a partnership or other entity treated as a partnership for
    U.S.&#160;federal income tax purposes holds notes, the tax
    treatment of a partner of the partnership generally will depend
    upon the status of the partner and the activities of the
    partnership. If you are a partner of a partnership acquiring
    notes, you are urged to consult your own tax advisor about the
    U.S.&#160;federal income tax consequences of acquiring, holding
    and disposing of the notes.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Payments
    of Interest</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Stated interest on the exchange notes will be taxable to you as
    ordinary income at the time it is paid or accrues in accordance
    with your method of accounting for U.S.&#160;federal income tax
    purposes. In certain circumstances (see &#147;Description of the
    Exchange Notes&#160;&#151; Optional Redemption&#148; and
    &#147;Description of the Exchange Notes&#160;&#151; Repurchase
    at the Option of Holders&#160;&#151; Change of Control&#148;) we
    may pay amounts on the exchange notes that are in excess of the
    stated interest or principal. We believe that as to each such
    contingent payment that the possibility that such contingent
    payment will be made is remote and will not therefore affect the
    timing or amount of interest income that you recognize until any
    such additional payment is made. Our determination that these
    contingencies are remote is binding on you unless you disclose
    your contrary position to the IRS in the manner that is required
    by applicable Treasury Regulations. Our determination is not,
    however, binding on the IRS, and if the IRS were to challenge
    this determination, you might be required to recognize
    additional income on your exchange notes and to treat as
    ordinary income, rather than as capital gain, any income that
    you recognize on the taxable disposition of an exchange note
    before the resolution of the contingencies.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Disposition
    of the Exchange Notes</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    You will generally recognize capital gain or loss on the sale,
    redemption, exchange, retirement or other taxable disposition of
    an exchange note equal to the difference between the amount
    realized (less an amount that will be taxable as ordinary income
    that is attributable to any accrued and unpaid interest on the
    exchange note that you have not previously included in income)
    and your adjusted tax basis in the exchange note. Any gain or
    loss that is recognized on the disposition of an exchange note
    will be capital gain or loss, assuming you held the exchange
    note as a capital asset, and will be a long-term capital gain or
    loss if you have held the exchange note for more than one year.
    If you are not a corporation, then any long-term capital gain
    will be subject to U.S.&#160;federal income tax at a reduced
    rate. Your ability to deduct capital losses is subject to
    statutory limitations.
</DIV>
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    <BR>
    63
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Information
    Reporting and Backup Withholding</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Information reporting will apply to payments of interest on, or
    the proceeds of the sale or other disposition of, exchange notes
    held by you, and backup withholding (currently at a rate of 28%)
    may apply unless you provide the appropriate intermediary with a
    properly executed IRS
    <FONT style="white-space: nowrap">Form&#160;W-9</FONT>
    or appropriate substitute form which includes a taxpayer
    identification number, certified under penalties of perjury, as
    well as certain other information, or otherwise establish an
    exemption from backup withholding. Backup withholding is not an
    additional tax. Any amount withheld under the backup withholding
    rules is allowable as a credit against your actual
    U.S.&#160;federal income tax liability, if any, and a refund may
    be obtained if the amounts withheld exceed your actual
    U.S.&#160;federal income tax liability and you provide the
    required information to
    <FONT style="white-space: nowrap">and/or</FONT> file
    the appropriate returns with the IRS.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Tax
    Consequences to
    <FONT style="white-space: nowrap">Non-U.S.</FONT>
    Holders</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Except as otherwise modified for U.S.&#160;federal estate tax
    purposes, you are a
    <FONT style="white-space: nowrap">&#147;non-U.S.&#160;holder&#148;</FONT>
    for purposes of this discussion if you are a beneficial owner of
    notes that is an individual, corporation, estate or trust and
    not a U.S.&#160;holder.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Payments
    of Interest</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Payments of interest on the exchange notes generally will be
    exempt from U.S.&#160;federal income or withholding tax under
    the &#147;portfolio interest&#148; exemption if you properly
    certify as to your foreign status as described below, and:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    you do not own, directly or indirectly, actually or
    constructively, 10% or more of our capital or profits interests;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    you are not a bank whose receipt of interest on the notes is in
    connection with an extension of credit made pursuant to a loan
    agreement entered into in the ordinary course of business;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    you are not a &#147;controlled foreign corporation&#148; that is
    related (directly or indirectly) to us through equity
    ownership;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    interest on the notes is not effectively connected with your
    conduct of a U.S.&#160;trade or business (and, if an income tax
    treaty applies to you, is not attributable to a permanent
    establishment maintained by you in the United States).
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The portfolio interest exemption and several of the special
    rules for
    <FONT style="white-space: nowrap">non-U.S.&#160;holders</FONT>
    described below generally apply only if you appropriately
    certify as to your foreign status. You can generally meet this
    certification requirement by providing a properly executed IRS
    <FONT style="white-space: nowrap">Form&#160;W-8BEN</FONT>
    or appropriate substitute form to us or our paying agent. If you
    hold the exchange notes through a financial institution or other
    agent acting on your behalf, you may be required to provide
    appropriate certifications to the agent. Your agent will then
    generally be required to provide appropriate certifications to
    us or our paying agent, either directly or through other
    intermediaries. Special rules apply to foreign partnerships,
    estates and trusts, and in certain circumstances certifications
    as to foreign status of partners, trust owners or beneficiaries
    may have to be provided to us or our paying agent. In addition,
    special rules apply to qualified intermediaries that enter into
    withholding agreements with the IRS.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If you cannot satisfy the requirements described above, payments
    of interest made to you will be subject to U.S.&#160;federal
    withholding tax at a 30% rate, unless you provide certain
    documentation evidencing your entitlement to an exemption from
    (or a reduction of) withholding under an applicable income tax
    treaty, or the payments of interest are effectively connected
    with your conduct of a trade or business in the United States
    and you meet the certification requirements described below,
    both of which will require providing a taxpayer identification
    number. See &#147;Income or Gain Effectively Connected with a
    U.S.&#160;Trade or Business.&#148;
</DIV>
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    <BR>
    64
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Disposition
    of the Exchange Notes</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    You generally will not be subject to U.S.&#160;federal income
    tax on any gain realized on the sale, redemption, exchange,
    retirement or other taxable disposition of an exchange note
    unless:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    you are an individual who has been present in the United States
    for 183&#160;days or more in the taxable year of disposition and
    certain other requirements are met;&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the gain is effectively connected with the conduct by you of a
    U.S.&#160;trade or business (and, if an income tax treaty
    applies to you, is attributable to a permanent establishment
    maintained by you in the United States).
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If the first bullet point above describes you, you will be
    subject to a flat 30% U.S.&#160;federal income tax on the gain
    derived from the sale or other disposition, which may be offset
    by U.S.&#160;source capital losses. If the second bullet point
    above describes you, you generally will be subject to
    U.S.&#160;federal income tax in the manner described under
    &#147;&#151; Income or Gain Effectively Connected with a
    U.S.&#160;Trade or Business&#148; below.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Income
    or Gain Effectively Connected with a U.S. Trade or
    Business</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The preceding discussion of the tax consequences of the
    ownership and disposition of exchange notes by
    <FONT style="white-space: nowrap">non-U.S.&#160;holders</FONT>
    generally assumes that income and gain from the notes is not
    effectively connected with a trade or business conducted by you
    in the United States. If any interest on the notes or gain from
    the sale, exchange or other taxable disposition of the exchange
    notes is effectively connected with a trade or business
    conducted by you in the United States (and, if an income tax
    treaty applies to you, is attributable to a permanent
    establishment maintained by you in the United States), then the
    income or gain will be subject to U.S.&#160;federal income tax
    at regular graduated income tax rates applicable to
    U.S.&#160;holders, but will not be subject to withholding tax if
    certain certification requirements are satisfied. If you are a
    corporation, that portion of your earnings and profits that is
    effectively connected with your U.S.&#160;trade or business
    (and, if an income tax treaty applies to you, is attributable to
    your permanent establishment in the United States) also may be
    subject to a &#147;branch profits tax&#148; at a 30% rate,
    unless an applicable income tax treaty provides a lower rate.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">U.S.
    Federal Estate Tax</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If you are an individual and are a nonresident not a citizen of
    the United States (as specifically defined for U.S.&#160;federal
    estate tax purposes) at the time of your death, the exchange
    notes will not be included in your gross estate for
    U.S.&#160;federal estate tax purposes, provided that, at the
    time of your death, interest on the exchange notes qualifies for
    the portfolio interest exemption under the rules described above
    in &#147;Payments of Interest&#148; (without regard to the
    certification requirement).
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Information
    Reporting and Backup Withholding</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Payments of interest on an exchange note, and amounts withheld
    from such payments, if any, generally will be required to be
    reported to the IRS and to you. U.S.&#160;backup withholding tax
    generally will not apply to payments to you of interest on an
    exchange note if you certify as to your
    <FONT style="white-space: nowrap">non-U.S.&#160;status</FONT>
    by providing properly executed IRS
    <FONT style="white-space: nowrap">Form&#160;W-8BEN</FONT>
    (or acceptable substitute form), provided that we do not have
    actual knowledge or reason to know that you are a United States
    person.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Payment of the proceeds of a disposition of an exchange note
    effected by the U.S.&#160;office of a U.S.&#160;foreign broker
    will be subject to information reporting requirements and backup
    withholding, unless you properly certify under penalties of
    perjury as to your foreign status (by providing a properly
    executed IRS
    <FONT style="white-space: nowrap">Form&#160;W-8BEN</FONT>
    or acceptable substitute form) and certain other conditions are
    met, or you otherwise establish an exemption. Information
    reporting requirements and backup withholding generally will not
    apply to any payment of the proceeds of the disposition of an
    exchange note effected outside the United States by a foreign
    office of a broker. However, unless such a broker has
    documentary evidence in its records that you are a
    <FONT style="white-space: nowrap">non-U.S.&#160;holder</FONT>
    and certain other conditions are met, or you otherwise establish
    an exemption, information reporting will apply to a
</DIV>
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    <BR>
    65
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    payment of the proceeds of the disposition of an exchange note
    effected outside the U.S.&#160;by such a broker if the broker is
    a U.S.&#160;person or has certain specified connections with the
    United&#160;States.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As noted above in the discussion of &#147;&#151; Income or Gain
    Effectively Connected with a U.S.&#160;Trade or Business,&#148;
    if any interest on the notes or gain from the sale, exchange or
    other taxable disposition of the notes is effectively connected
    with a trade or business conducted by you in the United States
    (and, if an income tax treaty applies to you, is attributable to
    a permanent establishment maintained by you in the United
    States) the income will not be subject to withholding tax if
    certain certification requirements are satisfied. You can
    generally meet the certification requirements by providing a
    properly executed IRS
    <FONT style="white-space: nowrap">Form&#160;W-8ECI</FONT>
    or appropriate substitute form to us or our paying agent.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Backup withholding is not an additional tax. Any amount withheld
    under the backup withholding rules may be credited against your
    actual U.S.&#160;federal income tax liability and any excess may
    be refundable if the proper information is timely provided to
    <FONT style="white-space: nowrap">and/or</FONT>
    returns are filed with the IRS.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">New
    Legislation Relating to Foreign Accounts</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Newly enacted legislation as part of the Foreign Account Tax
    Compliance Act may impose withholding taxes on certain types of
    payments made to &#147;foreign financial institutions&#148; (as
    specifically defined under these rules) and certain other
    <FONT style="white-space: nowrap">non-U.S.&#160;entities.</FONT>
    Under this legislation, the failure to comply with additional
    certification, information reporting and other specified
    requirements may result in withholding tax being imposed on
    payments and sales proceeds to foreign intermediaries and
    certain
    <FONT style="white-space: nowrap">non-U.S.&#160;holders.</FONT>
    Prospective investors are encouraged to consult with their own
    tax advisors regarding the possible implications of this
    legislation on their investment in the notes.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>The preceding discussion of material U.S.&#160;federal income
    and estate tax considerations is for general information only
    and is not tax advice. We urge each prospective investor to
    consult its own tax advisor regarding the particular
    U.S.&#160;federal, state, local and foreign tax consequences of
    purchasing, holding, and disposing of our exchange notes,
    including the consequences of any proposed change in applicable
    laws.</B>
</DIV>

<A name='H84127153'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">PLAN OF
    DISTRIBUTION</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Based on interpretations by the staff of the Commission in
    no-action letters issued to third parties, we believe that you
    may transfer exchange notes issued under the exchange offer in
    exchange for the outstanding notes if:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    you acquire the exchange notes in the ordinary course of your
    business;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    you are not engaged in, and do not intend to engage in, and have
    no arrangement or understanding with any person to participate
    in, a distribution of such exchange notes.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    You may not participate in the exchange offer if you are:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    an &#147;affiliate&#148; within the meaning of Rule&#160;405
    under the Securities Act of us;&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a broker-dealer that acquired outstanding notes directly from us.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Each broker-dealer that receives exchange notes for its own
    account pursuant to the exchange offer must acknowledge that it
    will deliver this prospectus in connection with any resale of
    such exchange notes. To date, the staff of the Commission has
    taken the position that broker-dealers may fulfill their
    prospectus delivery requirements with respect to transactions
    involving an exchange of securities such as this exchange offer,
    other than a resale of an unsold allotment from the original
    sale of the outstanding notes, with this prospectus. This
    prospectus, as it may be amended or supplemented from time to
    time, may be used by a broker-dealer in connection with resales
    of exchange notes received in exchange for outstanding notes
    where such outstanding notes were acquired as a result of
    market-making activities or other trading activities. We have
    agreed that, for a period ending on the earlier
    of&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;,
    2012 and the date on which a broker-dealer is no longer required
    to deliver a prospectus in connection with market-making or
    other trading activities, we will make this
</DIV>
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    <BR>
    66
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    prospectus, as amended or supplemented, available to any
    broker-dealer for use in connection with any such resale. In
    addition, until such date, all dealers effecting transactions in
    exchange notes may be required to deliver this prospectus.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any broker-dealer or holder using the exchange offer to
    participate in a distribution of the securities to be acquired
    in the exchange offer (1)&#160;could not, under Commission staff
    policy, rely on the position of the Commission staff enunciated
    in <I>Morgan Stanley and Co., Inc. </I>(available June&#160;5,
    1991)&#160;and <I>Exxon Capital Holdings Corporation
    </I>(available May&#160;13, 1988), as interpreted in the
    Commission staff&#146;s letter to <I>Shearman&#160;&#038;
    Sterling </I>dated July&#160;2, 1993, and similar no-action
    letters, and (2)&#160;must comply with the registration and
    prospectus delivery requirements of the Securities Act in
    connection with a secondary resale transaction and that such a
    secondary resale transaction should be covered by an effective
    registration statement containing the selling security holder
    information required by Item&#160;507 or 508, as applicable, of
    <FONT style="white-space: nowrap">Regulation&#160;S-K.</FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If you wish to exchange notes for your outstanding notes in the
    exchange offer, you will be required to make representations to
    us as described in &#147;Exchange Offer&#160;&#151; Procedures
    for Tendering&#160;&#151; Your Representations to Us&#148; in
    this prospectus. As indicated in the letter of transmittal, you
    will be deemed to have made these representations by tendering
    your outstanding notes in the exchange offer. In addition, if
    you are a broker-dealer who receives exchange notes for your own
    account in exchange for outstanding notes that were acquired by
    you as a result of market-making activities or other trading
    activities, you will be required to acknowledge, in the same
    manner, that you will deliver this prospectus in connection with
    any resale by you of such exchange notes.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We will not receive any proceeds from any sale of exchange notes
    by broker-dealers. Exchange notes received by broker-dealers for
    their own account pursuant to the exchange offer may be sold
    from time to time in one or more transactions:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    in the
    <FONT style="white-space: nowrap">over-the-counter</FONT>
    market;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    in negotiated transactions;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    through the writing of options on the exchange notes;&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a combination of such methods of resale at market prices
    prevailing at the time of resale, at prices related to such
    prevailing market prices or at negotiated prices.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any such resale may be made directly to purchasers or to or
    through brokers or dealers who may receive compensation in the
    form of commissions or concessions from any such broker-dealer
    or the purchasers of any such exchange notes. Any broker-dealer
    that resells exchange notes that were received by it for its own
    account pursuant to the exchange offer and any broker or dealer
    that participates in a distribution of such exchange notes may
    be deemed to be an &#147;underwriter&#148; within the meaning of
    the Securities Act. Each letter of transmittal states that by
    acknowledging that it will deliver and by delivering this
    prospectus, a broker-dealer will not be deemed to admit that it
    is an &#147;underwriter&#148; within the meaning of the
    Securities Act.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    For the period described in Section&#160;4(3) of and
    Rule&#160;174 under the Securities Act that is applicable to
    transactions by brokers or dealers with respect to the exchange
    notes, we will promptly send additional copies of this
    prospectus and any amendment or supplement to this prospectus to
    any broker-dealer that requests such documents. We have agreed
    to pay all reasonable expenses incident to the exchange offer
    (including the expenses of one counsel for the holders of the
    outstanding notes) other than commissions or concessions of any
    broker-dealers and will indemnify the holders of the outstanding
    notes (including any broker-dealers) against certain
    liabilities, including liabilities under the Securities Act.
</DIV>
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    <BR>
    67
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<A name='H84127154'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">LEGAL
    MATTERS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Latham&#160;&#038; Watkins LLP has issued an opinion about the
    legality of the exchange notes.
</DIV>

<A name='H84127155'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">EXPERTS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The consolidated financial statements and the related financial
    statement schedule, incorporated in this prospectus by reference
    from Exterran&#146;s Annual Report on
    <FONT style="white-space: nowrap">Form&#160;10-K</FONT>
    for the year ended December&#160;31, 2010, and the effectiveness
    of Exterran&#146;s and its subsidiaries&#146; internal control
    over financial reporting have been audited by
    Deloitte&#160;&#038; Touche LLP, an independent registered
    public accounting firm, as stated in their reports, which are
    incorporated by reference herein. Such consolidated financial
    statements and financial statement schedule have been so
    incorporated in reliance upon the reports of such firm given
    upon their authority as experts in accounting and auditing.
</DIV>

<A name='H84127156'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">WHERE YOU
    CAN FIND MORE INFORMATION</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We are required to file annual, quarterly and current reports,
    proxy statements and other information with the Commission. Our
    Commission filings are available over the Internet at the
    Commission&#146;s web site at
    <I><FONT style="white-space: nowrap">http://www.sec.gov</FONT></I>.
    You may also read and copy any document that we file at the
    Commission&#146;s public reference room at 100 F. Street, N.E.,
    Washington,&#160;D.C. 20549. Please call the Commission at
    <FONT style="white-space: nowrap">1-800-SEC-0330</FONT>
    for more information on the public reference room and its copy
    charges.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We &#147;incorporate by reference&#148; information into this
    prospectus, which means that we disclose important information
    to you by referring you to another document filed separately
    with the Commission. The information incorporated by reference
    is deemed to be part of this prospectus, except for any
    information superseded by information contained expressly in
    this prospectus, and the information we file later with the
    Commission will automatically supersede this information. You
    should not assume that the information in this prospectus is
    current as of any date other than the date on the front page of
    this prospectus.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We incorporate by reference the documents listed below:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Our annual report on
    <FONT style="white-space: nowrap">Form&#160;10-K</FONT>
    for the year ended December&#160;31, 2010;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Our quarterly reports on
    <FONT style="white-space: nowrap">Form&#160;10-Q</FONT>
    for the periods ended March&#160;31, 2011, June&#160;30, 2011
    and September&#160;30, 2011;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Our current reports on
    <FONT style="white-space: nowrap">Form&#160;8-K</FONT>
    filed on February&#160;25, 2011, March&#160;4, 2011,
    March&#160;10, 2011, May&#160;5, 2011, May&#160;24, 2011,
    June&#160;13, 2011, July&#160;14, 2011, August&#160;4, 2011,
    August&#160;16, 2011, September&#160;9, 2011, October&#160;25,
    2011 and November&#160;4, 2011;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Our Definitive Proxy Statement on Schedule&#160;14A filed on
    March&#160;29, 2011.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Until the termination of the exchange offer described in this
    prospectus, we will also incorporate by reference all documents
    that we may file in the future under Section&#160;13(a), 13(c),
    14 or 15(d) of the Exchange Act, excluding any information
    therein that was furnished to (and not filed with) the
    Commission. In addition, each document filed by us pursuant to
    the Securities Exchange Act of 1934 after the date of the
    initial registration statement and prior to the effectiveness of
    the registration statement, and that is deemed &#147;filed&#148;
    with the Commission, shall be deemed to be incorporated by
    reference into this prospectus.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    You may request a copy of any document incorporated by reference
    in this prospectus and any exhibit specifically incorporated by
    reference in those documents, at no cost, by writing or
    telephoning us at the following address or phone number:
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Exterran Holdings, Inc.
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    16666 Northchase Drive
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Houston, Texas 77060
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Attention: Investor Relations
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Telephone:
    <FONT style="white-space: nowrap">(281)&#160;836-7000</FONT>
</DIV>
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    <BR>
    68
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We also make available free of charge on our internet website at
    <I><FONT style="white-space: nowrap">http://www.exterran.com</FONT>
    </I>our annual reports on
    <FONT style="white-space: nowrap">Form&#160;10-K,</FONT>
    our quarterly reports on
    <FONT style="white-space: nowrap">Form&#160;10-Q,</FONT>
    our current reports on
    <FONT style="white-space: nowrap">Form&#160;8-K</FONT>
    and any amendments to those reports, as soon as reasonably
    practicable after we electronically file such material with, or
    furnish it to, the Commission. Information contained on our web
    site is not incorporated by reference into this prospectus and
    you should not consider information on our web site as part of
    this prospectus.
</DIV>

<A name='H84127157'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">INFORMATION
    REGARDING FORWARD-LOOKING STATEMENTS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This prospectus contains forward-looking statements. All
    statements other than statements of historical fact contained in
    this prospectus are forward-looking statements within the
    meaning of Section&#160;27A of the Securities Act and
    Section&#160;21E of the Exchange Act, including, without
    limitation, statements regarding our business growth strategy
    and projected costs; future financial position; the sufficiency
    of available cash flows to fund continuing operations; the
    expected amount of our capital expenditures; anticipated cost
    savings, future revenue, gross margin and other financial or
    operational measures related to our business and our primary
    business segments; the future value of our equipment and
    non-consolidated affiliates; and plans and objectives of our
    management for our future operations. You can identify many of
    these statements by looking for words such as
    &#147;believes,&#148; &#147;expects,&#148; &#147;intends,&#148;
    &#147;projects,&#148; &#147;anticipates,&#148;
    &#147;estimates&#148; or similar words or the negative thereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Such forward-looking statements are subject to various risks and
    uncertainties that could cause actual results to differ
    materially from those anticipated as of the date of this
    prospectus. Although we believe that the expectations reflected
    in these forward-looking statements are based on reasonable
    assumptions, no assurance can be given that these expectations
    will prove to be correct.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    These forward-looking statements are also affected by the risk
    factors described in &#147;Risk Factors&#148; and those set
    forth from time to time in our filings with the Commission,
    which are available through our website at <I>www.exterran.com
    </I>and through the Commission Electronic Data Gathering and
    Retrieval System (&#147;EDGAR&#148;) at <I>www.sec.gov</I>.
    Important factors that could cause our actual results to differ
    materially from the expectations reflected in these
    forward-looking statements include, among other things:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    conditions in the oil and natural gas industry, including a
    sustained decrease in the level of supply or demand for oil or
    natural gas and the impact on the price of oil or natural gas,
    which could cause a decline in the demand for our natural gas
    compression and oil and natural gas production and processing
    equipment and services;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our reduced profit margins or the loss of market share resulting
    from competition or the introduction of competing technologies
    by other companies;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the success of our subsidiaries, including the Partnership;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    changes in economic or political conditions in the countries in
    which we do business, including civil uprisings, riots,
    terrorism, kidnappings, violence associated with drug cartels,
    legislative changes and the expropriation, confiscation or
    nationalization of property without fair compensation;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    changes in currency exchange rates and restrictions on currency
    repatriation;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the inherent risks associated with our operations, such as
    equipment defects, malfunctions and natural disasters;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    loss of the Partnership&#146;s status as a partnership for
    federal income tax purposes;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the risk that counterparties will not perform their obligations
    under our financial instruments;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the financial condition of our customers;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our ability to timely and cost-effectively obtain components
    necessary to conduct our business;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    employment and workforce factors, including our ability to hire,
    train and retain key employees;
</TD>
</TR>

</TABLE>
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    <BR>
    69
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our ability to implement certain business and financial
    objectives, such as:
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="2%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    international expansion and winning profitable new business;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    sales of additional U.S.&#160;contract operations contracts and
    equipment to the Partnership;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    timely and cost-effective execution of projects;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    enhancing our asset utilization, particularly with respect to
    our fleet of compressors;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    integrating acquired businesses;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    generating sufficient cash;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    accessing the capital markets at an acceptable cost;
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    liability related to the use of our products and services;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    changes in governmental safety, health, environmental and other
    regulations, which could require us to make significant
    expenditures;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our level of indebtedness and ability to fund our business.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    All forward-looking statements included in this prospectus are
    based on information available to us on the date of this report.
    Except as required by law, we undertake no obligation to
    publicly update or revise any forward-looking statement, whether
    as a result of new information, future events or otherwise. All
    subsequent written and oral forward-looking statements
    attributable to us or persons acting on our behalf are expressly
    qualified in their entirety by the cautionary statements
    contained throughout this prospectus.
</DIV>
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    <BR>
    70
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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</DIV><!-- END PAGE WIDTH -->
<DIV style="width: 91%; margin-left: 4%"><!-- BEGIN PAGE WIDTH -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">ANNEX&#160;A</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 16pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">LETTER OF
    TRANSMITTAL<BR>
    <FONT style="font-size: 14pt">To Tender<BR>
    $350,000,000 of Outstanding
    7<FONT style="vertical-align: text-top; font-size: 70%;">1</FONT>/<FONT style="font-size: 70%;">4</FONT>%&#160;Senior
    Notes due 2018<BR>
    of</FONT></FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 16pt">EXTERRAN HOLDINGS,
    INC.</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 14pt">Pursuant to the Exchange Offer
    and Prospectus dated November&#160;8, 2011</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>The Exchange Agent for the Exchange Offer is:</I>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    By Registered or Certified Mail
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Wells Fargo Bank, N.A.
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    MAC N9303-121
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    P.O.&#160;Box&#160;1517
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Minneapolis, Minnesota 55480
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    By Overnight Delivery
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Wells Fargo Bank, N.A.
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    MAC N9303-121
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6th&#160;&#038; Marquette Avenue
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Minneapolis, Minnesota 55479
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    By Hand Delivery
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Wells Fargo Bank, N.A.
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    608 2nd Avenue South
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Northstar East
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Building&#160;&#151; 12th Floor
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Minneapolis, Minnesota
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Facsimile Transmission
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="white-space: nowrap">612-667-6282</FONT>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Attn: Corporate Trust&#160;Operations
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Confirm by Telephone:
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="white-space: nowrap">800-344-5128</FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    IF YOU WISH TO EXCHANGE CURRENTLY OUTSTANDING
    7<FONT style="vertical-align: text-top; font-size: 70%;">1</FONT>/<FONT style="font-size: 70%;">4</FONT>%
    SENIOR NOTES&#160;DUE 2018 (THE &#147;OUTSTANDING NOTES&#148;)
    FOR AN EQUAL AGGREGATE PRINCIPAL AMOUNT OF
    7<FONT style="vertical-align: text-top; font-size: 70%;">1</FONT>/<FONT style="font-size: 70%;">4</FONT>%
    SENIOR NOTES&#160;DUE 2018 PURSUANT TO THE EXCHANGE OFFER, YOU
    MUST VALIDLY TENDER (AND NOT WITHDRAW) OUTSTANDING NOTES&#160;TO
    THE EXCHANGE AGENT PRIOR TO 5:00&#160;P.M. NEW YORK CITY TIME ON
    THE EXPIRATION DATE BY CAUSING AN AGENT&#146;S MESSAGE TO BE
    RECEIVED BY THE EXCHANGE AGENT PRIOR TO SUCH TIME.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The undersigned hereby acknowledges receipt of the prospectus,
    dated November&#160;8, 2011 (the &#147;Prospectus&#148;), of
    Exterran Holdings, Inc., a Delaware corporation (the
    &#147;Company&#148;) and this Letter of Transmittal (the
    &#147;Letter of Transmittal&#148;), which together describe the
    Company&#146;s offer (the &#147;Exchange Offer&#148;) to
    exchange its
    7<FONT style="vertical-align: text-top; font-size: 70%;">1</FONT>/<FONT style="font-size: 70%;">4</FONT>%&#160;Senior
    Notes due 2018 (the &#147;Exchange Notes&#148;) that have been
    registered under the Securities Act of 1933, as amended (the
    &#147;Securities Act&#148;), for a like principal amount of its
    issued and outstanding
    7<FONT style="vertical-align: text-top; font-size: 70%;">1</FONT>/<FONT style="font-size: 70%;">4</FONT>%&#160;Senior
    Notes due 2018 (the &#147;Outstanding Notes&#148;). Capitalized
    terms used but not defined herein have the respective meaning
    given to them in the Prospectus.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company reserves the right, at any time or from time to
    time, to extend the Exchange Offer at its discretion, in which
    event the term &#147;Expiration Date&#148; shall mean the latest
    date to which the Exchange Offer is extended. To extend the
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Exchange Offer, the Company will notify the Exchange Agent
    orally or in writing of any extension. The Company will notify
    the holders of Outstanding Notes of the extension via a press
    release issued no later than 9:00&#160;a.m.&#160;New York City
    time on the business day after the previously scheduled
    Expiration Date.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Letter of Transmittal is to be used by holders of the
    Outstanding Notes. Tender of Outstanding Notes is to be made
    according to the Automated Tender Offer Program
    (&#147;ATOP&#148;) of The Depository Trust&#160;Company
    (&#147;DTC&#148;) pursuant to the procedures set forth in the
    prospectus under the caption &#147;The Exchange
    Offer&#160;&#151; Procedures for Tendering.&#148; DTC
    participants that are accepting the Exchange Offer must transmit
    their acceptance to DTC, which will verify the acceptance and
    execute a book-entry delivery to the Exchange Agent&#146;s DTC
    account. DTC will then send a computer-generated message known
    as an &#147;agent&#146;s message&#148; to the exchange agent for
    its acceptance. For you to validly tender your Outstanding Notes
    in the Exchange Offer, the Exchange Agent must receive, prior to
    the Expiration Date, an agent&#146;s message under the ATOP
    procedures that confirms that:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    DTC has received your instructions to tender your Outstanding
    Notes;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    You agree to be bound by the terms of this Letter of Transmittal.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>By using the ATOP procedures to tender Outstanding Notes, you
    will not be required to deliver this Letter of Transmittal to
    the Exchange Agent. However, you will be bound by its terms, and
    you will be deemed to have made the acknowledgments and the
    representations and warranties it contains, just as if you had
    signed it.</B>
</DIV>
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    <BR>
    A-2
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<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">PLEASE
    READ THE ACCOMPANYING INSTRUCTIONS&#160;CAREFULLY.</FONT></B>
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Ladies and Gentlemen:
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;By tendering Outstanding Notes in the Exchange Offer,
    you acknowledge receipt of the Prospectus and this Letter of
    Transmittal.
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;By tendering Outstanding Notes in the Exchange Offer,
    you represent and warrant that you have full authority to tender
    the Outstanding Notes described above and will, upon request,
    execute and deliver any additional documents deemed by the
    Company to be necessary or desirable to complete the tender of
    Outstanding Notes.
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;The tender of the Outstanding Notes pursuant to all of
    the procedures set forth in the Prospectus will constitute an
    agreement between you and the Company as to the terms and
    conditions set forth in the Prospectus.
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;The Exchange Offer is being made in reliance upon
    interpretations contained in no-action letters issued to third
    parties by the staff of the Securities and Exchange Commission
    (the &#147;Commission&#148;), including Exxon Capital Holdings
    Corp., Commission No-Action Letter (available May&#160;13,
    1988), Morgan Stanley&#160;&#038; Co., Inc., Commission
    No-Action Letter (available June&#160;5, 1991)&#160;and
    Shearman&#160;&#038; Sterling, Commission No-Action Letter
    (available July&#160;2, 1993), that the Exchange Notes issued in
    exchange for the Outstanding Notes pursuant to the Exchange
    Offer may be offered for resale, resold and otherwise
    transferred by holders thereof (other than a broker-dealer who
    purchased Outstanding Notes exchanged for such Exchange Notes
    directly from the Company to resell pursuant to Rule&#160;144A
    or any other available exemption under the Securities Act of
    1933, as amended (the &#147;Securities Act&#148;) and any such
    holder that is an &#147;affiliate&#148; of the Company within
    the meaning of Rule&#160;405 under the Securities Act), without
    compliance with the registration and prospectus delivery
    provisions of the Securities Act, provided that such Exchange
    Notes are acquired in the ordinary course of such holders&#146;
    business and such holders are not participating in, and have no
    arrangement with any person to participate in, the distribution
    of such Exchange Notes.
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;By tendering Outstanding Notes in the Exchange Offer,
    you represent and warrant that:
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    a.&#160;the Exchange Notes acquired pursuant to the Exchange
    Offer are being obtained in the ordinary course of your
    business, whether or not you are the holder;
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    b.&#160;neither you nor any such other person is engaging in or
    intends to engage in a distribution of such Exchange Notes;
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    c.&#160;neither you nor any such other person has an arrangement
    or understanding with any person to participate in the
    distribution of such Exchange Notes;
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    d.&#160;neither you nor any such other person is an
    &#147;affiliate,&#148; as such term is defined under
    Rule&#160;405 promulgated under the Securities Act, of the
    Company or the Guarantors;&#160;and
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    e.&#160;if you are a broker-dealer that will receive exchange
    notes for your own account in exchange for outstanding notes,
    you acquired those outstanding notes as a result of
    market-making activities or other trading activities and you
    will deliver the prospectus, as required by law, in connection
    with any resale of the exchange notes.
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;If you are a broker-dealer that will receive Exchange
    Notes for your own account in exchange for Outstanding Notes
    that were acquired as a result of market-making activities or
    other trading activities, you acknowledge, by tendering
    Outstanding Notes in the Exchange Offer, that you will deliver a
    prospectus in connection with any resale of such Exchange Notes;
    however, by so acknowledging and by delivering a prospectus, you
    will not be deemed to admit that you are an
    &#147;underwriter&#148; within the meaning of the Securities
    Act. If you are a broker-dealer and Outstanding Notes held for
    your own account were not acquired as a result of market-making
    or other trading activities, such Outstanding Notes cannot be
    exchanged pursuant to the Exchange Offer.
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;Any of your obligations hereunder shall be binding upon
    your successors, assigns, executors, administrators, trustees in
    bankruptcy and legal and personal representatives.
</DIV>
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    <BR>
    A-3
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    <B><FONT style="font-family: 'Times New Roman', Times">INSTRUCTIONS<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">FORMING
    PART&#160;OF THE TERMS AND CONDITIONS OF THE EXCHANGE
    OFFER</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">1.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Book-Entry
    Confirmations.</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any confirmation of a book-entry transfer to the Exchange
    Agent&#146;s account at DTC of Outstanding Notes tendered by
    book-entry transfer (a &#147;Book-Entry Confirmation&#148;), as
    well as an agent&#146;s message, and any other documents
    required by this Letter of Transmittal, must be received by the
    Exchange Agent at its address set forth herein prior to
    5:00&#160;P.M. New York City time on the Expiration Date.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">2.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Partial
    Tenders.</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Tenders of Outstanding Notes will be accepted only in
    denominations of $2,000 and integral multiples of $1,000 in
    excess thereof. The entire principal amount of Outstanding Notes
    delivered to the Exchange Agent will be deemed to have been
    tendered unless otherwise communicated to the Exchange Agent. If
    the entire principal amount of all Outstanding Notes is not
    tendered, then Outstanding Notes for the principal amount of
    Outstanding Notes not tendered and Exchange Notes issued in
    exchange for any Outstanding Notes accepted will be delivered to
    the holder via the facilities of DTC promptly after the
    Outstanding Notes are accepted for exchange.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">3.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Validity
    of Tenders.</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    All questions as to the validity, form, eligibility (including
    time of receipt), acceptance, and withdrawal of tendered
    Outstanding Notes will be determined by the Company, in its sole
    discretion, which determination will be final and binding. The
    Company reserves the absolute right to reject any or all tenders
    not in proper form or the acceptance for exchange of which may,
    in the opinion of counsel for the Company, be unlawful. The
    Company also reserves the absolute right to waive any of the
    conditions of the Exchange Offer or any defect or irregularity
    in the tender of any Outstanding Notes. The Company&#146;s
    interpretation of the terms and conditions of the Exchange Offer
    (including the instructions on this Letter of Transmittal) will
    be final and binding on all parties. Unless waived, any defects
    or irregularities in connection with tenders of Outstanding
    Notes must be cured within such time as the Company shall
    determine. Although the Company intends to notify holders of
    defects or irregularities with respect to tenders of Outstanding
    Notes, neither the Company, the Exchange Agent, nor any other
    person shall be under any duty to give notification of any
    defects or irregularities in tenders or incur any liability for
    failure to give such notification. Tenders of Outstanding Notes
    will not be deemed to have been made until such defects or
    irregularities have been cured or waived. Any Outstanding Notes
    received by the Exchange Agent that are not properly tendered
    and as to which the defects or irregularities have not been
    cured or waived will be returned by the Exchange Agent to the
    tendering holders via the facilities of DTC, promptly following
    the Expiration Date.
</DIV>
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    <BR>
    A-4
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->

<CENTER><DIV style="font-size: 1pt; width: 100%; border-bottom: 2pt solid #000000"></DIV></CENTER>

<CENTER><DIV style="font-size: 1pt; width: 100%; border-bottom: 1pt solid #000000"></DIV></CENTER>

<DIV style="margin-top: 14pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Until February&#160;6, 2012 all dealers that effect
    transactions in the exchange notes, whether or not participating
    in this offering, may be required to deliver a prospectus. This
    is in addition to the dealers&#146; obligation to deliver a
    prospectus when acting as underwriters with respect to their
    unsold allotments or subscriptions.</B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <IMG src="h84127b3h8412704.gif" alt="(EXTERRAN LOGO)">
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 24pt">Exterran Holdings,
    Inc.</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 14pt">Offer to Exchange</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 14pt">Registered</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 14pt">$350,000,000
    7<FONT style="vertical-align: text-top; font-size: 70%;">1</FONT>/<FONT style="font-size: 70%;">4</FONT>%&#160;Senior
    Notes due 2018</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 14pt">for</FONT></B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 14pt">Outstanding</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 14pt">$350,000,000
    7<FONT style="vertical-align: text-top; font-size: 70%;">1</FONT>/<FONT style="font-size: 70%;">4</FONT>%&#160;Senior
    Notes due 2018</FONT></B>
</DIV>

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<DIV style="margin-top: 8pt; font-size: 1pt">&nbsp;</DIV>

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