Creating Financial Opportunities Since 1958

Unlocking Value Through Corporate Trading

Creating Financial Opportunities for More Than Half a Century

• Argent Trading Inc. is a global corporate trading firm that enables companies to restore value to under-performing assets using its proprietary trading currency, used towards the purchase of a wide range of budgeted media, goods and services expenses.

• Argent has teams in acquisitions, remarketing and client service worldwide, with presence in 15 countries, and growing.

Argent At A Glance

Creating Financial Opportunities for More Than Half a Century

The Argent Global Network* Belgium

Brazil

China

Colombia

France

Germany

Greece

Italy

Korea

Portugal

Spain

Turkey

Mexico

United Kingdom

United States

* Future offices in Dubai, Poland, Russia, South Africa, Japan, Australia, Chile, Romania and Bulgaria

Creating Financial Opportunities for More Than Half a Century

Argent Ownership

• Argyros Trading International, LLC

An international investment company, with investors in the aviation and finance industries among others, and whose investors include the leadership of Argent Trading.

• The Hilco Organization

A world leader (www.hilcotrading.com) in asset appraisal, asset acquisition and disposition, special situation debt and equity financing and retail business consulting. Hilco is a privately-held company with investors that include Goldman Sachs (www2.goldmansachs.com) and Cerberus Capital Management (www.cerberuscapital.com).

Creating Financial Opportunities for More Than Half a Century

A Track Record of Creating Value (US)

Creating Financial Opportunities for More Than Half a Century

Phillips Electronics            

A Track Record of Creating Value (EU)

Creating Financial Opportunities for More Than Half a Century

• Highest purchase price: Argent will pay book value or higher for inventory when current market offers are unacceptable.

• Buy it all: Argent will buy the entire inventory and not take only the most valuable products.

• Protect distribution channels: Argent will contractually guarantee to remarketing restrictions thereby protecting our client’s distribution network.

• Preserve Asset Value: Selling a product at a much lower price might damage the “brand image”. By protecting your distribution channels Argent ensures the brand name remains unaffected.

Benefits of Corporate Trading with Argent

Creating Financial Opportunities for More Than Half a Century

Types of Assets that Argent Buys

Consumer Goods

• Excess Inventories

• Low Rotation Products

• Obsolete Products

• Products with Packaging Problems

• Production Capacity

Capital Assets

• Buildings

• Machinery

• Cars, Planes, Boats

Financial Assets

• Debts

• Accounts Recievables

• Accounts Payables

• Project Financing

Creating Financial Opportunities for More Than Half a Century

• Health and beauty aids

• Appliances

• Sporting goods

• Apparel and fabric

• Luggage

• Electronics

• Household products (carpeting, lighting, furniture, paint, table top, etc.)

• Jewelry

• Food and beverage

Argent buys many types of products

• Office products

• Houseware

• Tools

• Liquor and wine

• Personal care products

• Auto parts

• Children's books

• Real Estate

• Capital equipment

Creating Financial Opportunities for More Than Half a Century

The Basics of Corporate Trading

Company buys through its own suppliers or Argent

suppliers for the same prices they’re now paying. Use

APCs for media, shipping, travel, printing, capital

equipment, raw materials, office supplies, and more.

Company has excess or underperforming assets and

wants to dispose of them at maximum value.

Creating Financial Opportunities for More Than Half a Century

Argent’s Value Guarantee

• You never pay more for goods and services than you are now paying.

• Purchases may be made through Argent suppliers or the client’s own suppliers, who elect to accept Argent APCs.

Cash + APCs = YOUR COST (with Approved Suppliers)

Creating Financial Opportunities for More Than Half a Century

Argent has expertise in credit utilization. Argent does not…

• Negotiate price or commercial terms.• Select your vendors.• Become your source of supply.• Act as a supply chain team.• Buy goods in your industry better than you do..

We are experts in converting part of your payment for goods and services into our currency.

Creating Financial Opportunities for More Than Half a Century

Client Service Managers

Media Argent Partner Network Global SourcingDirected Trading

APCs Utilization Options

Creating Financial Opportunities for More Than Half a Century

Online and digital network

Sports marketing network

Branded entertainment

network

Global Media network

Global Media network

Fully Integrated Global Media Planning & Buying Expertise

Media Partner

Creating Financial Opportunities for More Than Half a Century

Argent approaches media differently than any other trading firm.

• Media’s role at Argent Trading is service oriented.

• Argent’s goal is to deliver your media plan, not a media trade bank. Proposing, stewarding, and delivering the media our clients planned for is always the first priority (ask for references).

• Argent combines the clout of a big media trader with superior dedicated client service.

Creating Financial Opportunities for More Than Half a Century

Case Study

Asset Problem:Argent agreed to help Perfumania utilize existing credits from parent company’s accounts.

Solution:Radio test of new brand awareness (never advertised before) for Perfumania targeting the South Florida market.

Credit Usage:•Argent enabled Perfumania to utilize 27% in trade credits.•Argent secured “Live Remotes” with station talent on all Miami stations purchased.•Within (1) one month of the test, Perfumania expanded spot radio campaign to (9) nine additional markets.

Media Case Study

Creating Financial Opportunities for More Than Half a Century

Media Case Study

Creating Financial Opportunities for More Than Half a Century

Case StudyMedia Case Study

Creating Financial Opportunities for More Than Half a Century

19

Case Study

Asset Problem:Discontinued brand of towels. Must be remarketed outside UK.

Solution:Inventory sold in Israel.

Credit Usage:Argent completed two directed trades for new trailers with UK manufacturer.

Wal-Mart UK

Directed Trade Case Study

Creating Financial Opportunities for More Than Half a Century

20

Case Study

Asset Problem:Hundreds of thousands of bottles of red and white wine. Could not be sold in Spain.

Solution:Product sold in UK, Brazil, and Peru.

Credit Usage:Purchase of new condominiums in Miami, FL for investment purposes.

Real Estate Study

Bodegas Inurrieta:Spanish Wine Producer

Creating Financial Opportunities for More Than Half a Century

21

Case Study

Asset Problem:Inventory of apparel that was 1-3 years old. Could not be sold in Switzerland, Germany, or Austria.

Solution:Products were remarketed in Eastern Europe.

Credit Usage:Directed trades for printing and transportation.

Directed Trade Study

Swiss retailer (800 stores) Women’s Apparel

Creating Financial Opportunities for More Than Half a Century

22

Case Study

Asset Problem:Inventory of incentive merchandise. All items have brand names.

Solution:Argent purchased entire inventory. Products remarketed through small retailers.

Credit Usage:Argent provided outdoor media in the UK including billboards and other outdoor media.

Media Case Study

Belgium brewer of Beck’s, Stella Artois, Bass and other alcoholic beverages

Creating Financial Opportunities for More Than Half a Century

The Argent “Partner Network” The Argent “Partner Network” is a Network of extensive is a Network of extensive Supplier Relationships all Supplier Relationships all

across the EUacross the EU

Client defines requirement and benchmarks cost

Client maintains complete control over purchasing

program

Client pays for purchases in cash

and APCs

Argent presents project to Partners and provides Trade

Offer to Client

Argent Partner Network

Creating Financial Opportunities for More Than Half a Century

Argent has established a network of providers through which APC users canpurchase a wide range of goods and services. Here are a few examples:

Batteries & ChargersBillboard ProductionOvernight DeliveryCarpetComputersCopy PaperCorrugatedEmployee Relocation ServicesFurnitureHotelsIncentivesJanitorial SuppliesLabelsLight BulbsLong Distance TelephoneOcean FreightOffice EquipmentOffice Supplies

Packing MaterialsPaperPayroll ServicesPoly BagsPOPPremiumsPrint on DemandPrinter/Copier Toner CartridgesPrintingRackingRoofingRoofing ConsultingShrink FilmSpecific Incentive ProductsStretch WrapStationery Printing & Forms Trucking/TransportationUniforms

Argent Partner Network

Creating Financial Opportunities for More Than Half a Century

A sampling of Argent clients who use APCs for Goods and Services.

FreightCoopervisionBekaertCarlisleNorcrossHughes SupplyOlympia Sports

RoofingLegget & PlattHuttigPhilips Lighting

PrintingScholasticCarlisleQuality KingAshworthCole HaanTree of LifeOlympia Sports

Supplies and PackagingEccoDanskinSiemensKawaiLane FurniturePep Boys

PremiumsSchickSnappleClosetMaidManningtonScholastic

Sales MeetingsPhilips LightingConoco PhillipsSiemensTravelersHarris MoranCarlisleSingle SourceDanskinKawai

Creating Financial Opportunities for More Than Half a Century

• Capital Equipment• Packaging• Transportation • Contract Services• Raw Materials

Directed Trading

Creating Financial Opportunities for More Than Half a Century

Analyze spending/Identify suppliers Formulate trading

strategy Introduce trading to supplier Finalize all

program detailsAnalyze spending areas and potential suppliers to assess trade potential.Finalize price for project.

Discuss strategy with Client to maximize APCUsage, e.g. contracts/ renewals/extensions, vendor consolidation, etc.

Argent and Client meet with supplier to discuss program including direct benefits to supplier, i.e. bonus payment and payment acceleration.

Supplier sign Trade Partner Agreement with Argent.

Creating Directed Trades

Creating Financial Opportunities for More Than Half a Century

Directed Trade Case Study

Creating Financial Opportunities for More Than Half a Century

29

Directed Trade Case Study

Creating Financial Opportunities for More Than Half a Century

• Automotive (aftermarket accessories)• Apparel (both finished goods as well as textiles)• Consumer electronics• Displays• Health & Beauty• Industrial machinery• Lighting• Packaging and paper

Global Sourcing (China Examples)

Creating Financial Opportunities for More Than Half a Century

• When issuing APCs to a supplier as partial payment on behalf of a client, Argent collects a small cash percentage of the transaction.

• This money (PSF) is utilized to cover Argent’s costs of servicing the supplier’s credits.

• There is no additional P&L cost to the client or the supplier.

Partner Service Fund (PSF)

Creating Financial Opportunities for More Than Half a Century

Cash to vendor: $.90

90% Cash + 10% APC’s = 100% Cost

*Partner Service Fund (PSF) represents 20% of new APC’s issuedPlus Bonus Payment

CLIENTCash Out 90%

Cash Out 2.0%Total Cash 92.0%

APC’s Used 8.0%

TOTAL EXPENSE 100%

ARGENTCash in 2.0%

APC’s Retired 8.0%New APC’s Issued 10%

YOUR SUPPLIER90% Cash In

10% New APC’s

TOTAL REVENUE 100%

Partner Service Fund Calculation*

Creating Financial Opportunities for More Than Half a Century

33

• A proven financial tool to maximize value on underperforming and excess assets. Consider the following scenario:

• An opportunity for companies to improve cash flow through the purchase of needed media, goods and services.

• No time or expense associated with the disposition of unwanted assets.

Conventional Sale Argent Sale

Inventory's Wholesale Price 4,000,000$ 4,000,000$ Revenue from Sale to Liquidator 800,000$ -$ Revenue from Sale to Argent -$ 4,000,000$ Total Value to Company 800,000$ 4,000,000$ Company Profit/Loss (3,200,000)$

Argent Trading Benefits Summary

Creating Financial Opportunities for More Than Half a Century

Major Expenditure by Category

Credit Usage Analysis

Inventory List

Decision

Point

• CLIENT: reviews credit usage with Argent

• ARGENT: reviews inventory and remarketing

Next Steps

Creating Financial Opportunities for More Than Half a Century

Contact

For more informations please contact me:George GavraDirector of Business DevelopmentEmail: ggavra@argenttrading.roMobile: 0733.074.894

Argent Trading Romania10-12 Pantelimon street, The Tower Building, 3rd floor021631, Bucharest 2, Romaniawww.argenttrading.com