The New York Private Equity Network (NYPEN) and Ernst & Young LLP invite you to attend the 2007 NYPEN Accounting & Tax Education Series Discussion on Advanced Tax Issues Affecting Transactions, to be held on Tuesday, May 22, 2007.

The session will use a presentation and an interactive case study approach to explore the key tax transaction issues from a private equity and venture capital perspective and will be led by professionals from Ernst & Young’s Transaction Advisory Services practice.

Event Details:

* Date: Tuesday, May 22, 2007
* Time: 7:00 pm - 8:30 pm (followed by cocktails)
* Location: Ernst & Young's Office - 23rd Floor, 5 Times Square (7th Ave b/w 42nd and 41st Streets)

Participants Can Expect to Learn:

1) Is a tax basis step-up attainable?
2) Can management or historical shareholders roll tax free?
3) Can the target’s NOLs be used post close?
4) Examples of how to apply these concepts to your transactions.