FULL STATEMENT BY SAC CAPITAL July 25, 2013 "SAC has never encouraged, promoted or tolerated insider trading

and takes its compliance and management obligations seriously. The handful of men who admit they broke the law does not reflect the honesty, integrity and character of the thousands of men and women who have worked at SAC over the past 21 years. SAC will continue to operate as we work through these matters. As the U.S. Attorney stated, the government's action today does not attempt to freeze any of SAC's assets. We have been advised by the U.S. Attorney's Office that their action is not intended to affect the ongoing operations of SAC's business, prevent investor redemptions, or impact the interests of any of SAC's counterparties. We anticipate that we and the U.S. Attorney's Office will agree to a protective order intended to reasonably protect all parties' legitimate interests, but will expressly permit SAC to continue its operations in the ordinary course.