Our View on the U.S. Stock Market,and Three Long Ideas

T2 Accredited Fund, LPTilson Offshore Fund, Ltd.T2 Qualified Fund, LP

Presentation at the 7

Annual Value Investing Seminar July 13, 2010

T2 Partners Management L.P.Manages Hedge Funds and Mutual Fundsand is a Registered Investment Advisor

145 E. 57th Street, 10th FloorNew York, NY 10022(212) 386-7160Info@T2PartnersLLC.comwww.T2PartnersLLC.com

Disclaimer

THIS PRESENTATION IS FOR INFORMATIONAL AND EDUCATIONALPURPOSES ONLY AND SHALL NOT BE CONSTRUED TO CONSTITUTEINVESTMENT ADVICE. NOTHING CONTAINED HEREIN SHALL CONSTITUTEA SOLICITATION, RECOMMENDATION OR ENDORSEMENT TO BUY ORSELL ANY SECURITY OR OTHER FINANCIAL INSTRUMENT.INVESTMENT FUNDS MANAGED BY WHITNEY TILSON AND GLENNTONGUE OWN STOCK IN MANY OF THE COMPANIES DISCUSSED HEREIN.THEY HAVE NO OBLIGATION TO UPDATE THE INFORMATION CONTAINEDHEREIN AND MAY MAKE INVESTMENT DECISIONS THAT AREINCONSISTENT WITH THE VIEWS EXPRESSED IN THIS PRESENTATION.WE MAKE NO REPRESENTATION OR WARRANTIES AS TO THEACCURACY, COMPLETENESS OR TIMELINESS OF THE INFORMATION,TEXT, GRAPHICS OR OTHER ITEMS CONTAINED IN THIS PRESENTATION.WE EXPRESSLY DISCLAIM ALL LIABILITY FOR ERRORS OR OMISSIONS IN,OR THE MISUSE OR MISINTERPRETATION OF, ANY INFORMATIONCONTAINED IN THIS PRESENTATION.PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RESULTS ANDFUTURE RETURNS ARE NOT GUARANTEED.