FirstMark | 09.17.08

Restricted Stock Partners Changes Name to SecondMarket

Restricted Stock Partners Changes Name to SecondMarket

Company Also Announces Plans to Expand, Move into New Headquarters

NEW YORK, N.Y., Sept. 17, 2008 – Restricted Stock Partners, which operates a secondary market for trading illiquid assets, announced today that it has changed its name to SecondMarket, effective immediately, to better reflect the direction of its business.

Restricted Stock Partners created the Restricted Securities Trading Network (RSTN), an online platform for trading restricted securities in public companies, auctionrate securities and bankruptcy claims. The RSTN, which will be rolled into SecondMarket, is the largest secondary market for each of these asset classes, according to CEO Barry E. Silbert.

SecondMarket (www.SecondMarket.com), which has nearly 50 employees and is growing rapidly, also announced that the company will move its headquarters to 26 Broadway in October, where it will quadruple its space. 26 Broadway, a New York landmark, was once the headquarters for Standard Oil Company and John D. Rockefeller.

“Our marketplace, which will soon extend into additional asset classes, has established itself as a trusted resource for individual and institutional investors who want to buy or sell illiquid assets,” Silbert said. “The name change and expansion will help solidify our position as the leader in this space.”

SecondMarket’s online trading platform has more than 1,500 members, including global financial institutions, hedge funds, private equity firms, mutual funds and other institutional and accredited investors that collectively manage more than $250 billion in assets available for investment. There is no cost to become a member.

SecondMarket’s team helps to negotiate trades and provides all administrative, clearing and settlement support for each transaction.

 

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About SecondMarket

Founded in 2004, New York-based SecondMarket is the world’s largest marketplace for illiquid assets, including restricted securities in public companies, auction-rate securities and bankruptcy claims. SecondMarket is a wholly-owned division of Green Drake, Inc. (Member FINRA/SIPC). In 2007, the Company received Series A funding from venture capital firm FirstMark Capital (formerly known as Pequot Ventures). For more information, visit www.SecondMarket.com.

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Contact:

Barry E. Silbert
SecondMarket
212-473-2408
bsilbert@secondmarket.com

David P. Kowal, APR
Kowal Communications, Inc
508-393-7023
kowal@kowal.com