Released on: September 15, 2008, 10:02 pm

Press Release Author: Richard Drake

Industry: Financial

Press Release Summary: Cornerstone worldwide: Korea’s KDC confirms talks to buy
stake in Lehman Bros.

Press Release Body: Cornerstone Worldwide reportedly believe the Korea Development
Bank should postpone acquiring stock in Lehman Bros according to a source close to
banking analysts at the Asian-based investment manager.

“One only has to look at the prices of stock in Citi and Merrill to see the result
of premature investment”, said the source alluding to sovereign wealth fund stakes
acquired when shares in both firms were 40% higher than they are today.

Cornerstone Worldwide are thought to believe the time for investing in financials
has yet to arrive given the moribund state of the US banking system.

“Freddie Mac and Fannie Mae are still not out of the woods and third quarter bank
report season is not looking promising,” said the source.

Many analysts share Cornerstone ‘appraisal of the banking sector’s situation and
eminent economists have largely warned against investment in the stocks of Wall
Street’s most venerable names.


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