Bridge Capital Holdings Receives Treasury Approval for $24 Million from Capital Purchase Program

Bridge Capital Holdings (NASDAQ: BBNK), whose subsidiary is Bridge Bank, National Association, today announced that it has obtained preliminary approval of its application to sell $24 million of preferred stock and warrants to the U.S. Treasury Department under the TARP Capital Purchase Program. In addition, as previously announced, the Company is moving forward on plans to raise $30 million of capital from private investors.

“We are pleased that the U.S. Treasury has selected Bridge Capital Holdings to participate in the TARP Capital Purchase Program,” said Daniel P. Myers, President and Chief Executive Officer of Bridge Capital Holdings and Bridge Bank. “This additional capital will fortify our already strong capital position and enhance our ability to support our customers in this difficult business environment.

Citi Adds $40 Billion of Capital Benefit Through Agreement with U.S. Treasury, Federal Reserve, and FDIC

Citi to issue preferred stock and warrants to U.S. Treasury and FDIC
--Strike price on warrants set at $10.61
--Citi to receive capital benefits from government guarantee on $306 billion of assets
--Citi secures access to multiple additional liquidity facilities

Citi (NYSE: C) today announced that it has reached an agreement with the U.S. Treasury, the Federal Reserve Board, and the Federal Deposit Insurance Corp. (FDIC) on a series of steps to strengthen Citi's capital ratios, reduce risk, and increase liquidity, as described below:

Fairfax Removes Hedges on Equity Portfolio Investments

(Note: All dollar amounts in this press release are expressed in U.S. dollars.)

Fairfax Financial Holdings Limited (TSX: FFH)(NYSE: FFH) announces that it has removed the hedge on its equity portfolio investments by covering its S&P and S&P/TSX60 equity index total return swaps.

"During our third quarter conference call on October 31, 2008, I disclosed that we had reduced our equity portfolio hedging from 100% to 65% of our equity investment portfolio and of course that at some point we may remove the hedge on our equity portfolio. That day has come," said Prem Watsa, Chairman and Chief Executive Officer. "Given the unprecedented decline of the equity markets during the past several months, we felt it was prudent to promptly inform our shareholders that we closed out our equity index total return swaps this week and effectively eliminated our equity portfolio hedge. While we believe the recession may be long and deep, we also believe that stock prices may have already discounted the worst of the economic decline. As value investors, we are finding an incredible number of investment opportunities across the world. That said, in the short term we recognize that stock markets can continue to fall significantly."

The Hartford Comments on Capital Position

The Hartford Financial Services Group, Inc. (NYSE: HIG) today provided additional information regarding its capital position in a Form 8-K filing with the Securities and Exchange Commission.

In its filing today, the company stated that its capital margin, the capital in excess of modeled rating agency requirements to maintain AA level ratings, would be approximately $2 billion at year end, assuming a year-end S&P 500 level of 900. This compares to an estimate of $3.5 billion, which was disclosed by the company on October 6, 2008, following the announcement of the Allianz transaction. This prior estimate assumed a year-end S&P 500 market level at a September 30, 2008 level, which was 1165.

The company also outlined additional details on the company’s estimated year-end risk-based capital (RBC) ratio for Hartford Life and Accident Insurance Company (HLA) at various S&P 500 levels. An RBC ratio of 325 percent or higher has historically been associated by various rating agencies with AA level ratings.