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Darren K. Indyke
Attorney-At-Law
457 Madison Avenue
4th Floor
New York, New York 10022
Tel: 212-750-1176
Fax: 212-750-0381
e-mail: dkiesq@aol.com

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From:	Steven Storch <sstorch@samlegal.com>
Subject:	Update
Date:	Wed, 25 Jun 2008 21:19:31 GMT
To:	dkiesq@aol.com

Darren, I spoke with David Anders. He is going to go back again to Spector to see if he is interested in talking but I doubt anything will come of it. His position remains that Spector was not involved and that Bear Stearns should cover any losses. I also asked Anders if he would accept service of the complaint and he will speak with Spector regarding that as well. I told him I needed to hear from him this week or we would proceed without further notice.

Condren is out of the country until next week. He sent me an email ( attached) . His assistant says he will be back next week. I propose to send Condren the following:

Jim, thank you for your email and for interrupting your vacation to get back to me. Given all the developments in the Bear Stearns’ matter I am concerned that my clients will be prejudiced by any delay. Accordingly, while we are interested in seeing if this matter can be resolved short of litigation, we will need to promptly commence action in order to protect their rights. We are prepared to meet early next week to see whether or not we can resolve this matter. Absent such a meeting, and a prompt resolution, we will have no alternative but to proceed to litigation.

I look forward to hearing back from you upon your return next week .

Steven G. Storch

Storch Amini & Munves, P.C.

2 Grand Central Tower

140 E. 45th Street

New York, New York 10017

Tel: (212) 490-4100 ext 216

Fax: (212) 490-4208

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