Dear AIR CRE Member,

By now you may have heard that Xceligent, Inc. has filed for protection under chapter 7 of the United States Bankruptcy Code.

The CDX has been shut down and AIR CRE is in the process of making e-Multiple available to all of our members.

We hope to have the system in place no later than Monday morning. We will keep you abreast of any developments. We truly apologize for this unforeseen inconvenience.

Thank you for your patience.

Tim Hayes                                                                                        Joy De La Cruz
Executive Director                                                                          Chief Operating Officer