NEWS

May 2002

Trinity Higher Education Authority, Inc., an affiliate of Brazos Higher Education Authority, Inc., acquired from Mission Federal Credit Union a portfolio of more than $87,000,000 of federally insured student loans in a single sale transaction that closed on May 1, 2002. GERSON LAW FIRM APC acted as counsel to Mission Federal Credit Union.

Brazos Higher Education Authority, Inc. obtained a credit facility from PNC Bank, National Association to finance Trinity Higher Education Authority, Inc.'s purchase of Mission Federal Credit Union's student loan portfolio, and other student loan portfolios.

Brazos Higher Education Authority, Inc. intends to securitize the student loans acquired from Mission Federal Credit Union by sale of student loan revenue bonds underwritten by Salomon Smith Barney, Bank of America Securities LLC, and PNC Capital Markets.

Bear Stearns acted as financial advisor to Mission Federal Credit Union in the sale of the more than 16,000 student loans which totaled more than $87,000,000. The sale of Mission Federal Credit Union's student loan portfolio is believed to be the largest portfolio sale in history by a credit union according to Bear Stearns Credit Union Financial Services.

Mission Federal Credit Union, a federally chartered credit union, is one of the nation's largest credit unions, with assets of more than $1.3 billion. Mission Federal Credit Union's corporate headquarters are in San Diego, California.

Earlier this year, GERSON LAW FIRM APC represented Mission Federal Credit Union in the sale of a portfolio of $19,000,000 of commercial real estate loans to Bayview Financial Trading Group in Miami, Florida.

GERSON LAW FIRM APC provides counsel to national, regional and local financial institutions on commercial transactions, with special emphasis on commercial real estate lending and securitization. The Firm also represents developers, owners of shopping centers, and major national tenants in all aspects of real estate transactions and litigation.