CCH Issues White Paper on Fedís Role, SEC Disclosure, in Financial Rescue Effort

(RIVERWOODS, ILL., November 14, 2008) Ė CCH, part of Wolters Kluwer Law & Business, has published a white paper: The Other Bailout: How the Fed is Financing the Financiers, and Related SEC Disclosure by CCH Securities Law Analyst Mark S. Nelson, JD. Wolters Kluwer Law & Business is a leading provider of research information and software solutions in key specialty areas for legal and business professionals (business.cch.com).

Noting that the emergency bailout legislation recently passed by Congress is one element of the federal governmentís response to the current economic crisis, Nelson provides an examination of the Fedís powers and response to the financial crisis, beginning over one year ago, to provide a more complete picture.

Much of the white paper is devoted to a detailed examination of the Fedís emergency lending facilities: the Term Auction Facility; Primary Dealer Credit Facility; Term Securities Lending Facility; Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility; Commercial Paper Funding Facility; and the Money Market Investor Funding Facility.

Nelson also examines a number of financial disclosures under the securities laws that impact financial institutions using the Fedís lending facilities: periodic reports; management discussion and analysis (MD&A); risk factors; accounting rules; asset-backed securities; and Investment Company Act rules regarding money market funds.

About Wolters Kluwer Law & Business

Wolters Kluwer Law & Business is a leading provider of research products and software solutions in key specialty areas for legal and business professionals, as well as casebooks and study aids for law students. Its major product lines include Aspen Publishers, CCH, Kluwer Law International and Loislaw. Its markets include law firms, law schools, corporate counsel and professionals requiring legal and compliance information. Wolters Kluwer Law & Business, a unit of Wolters Kluwer, is based in New York City and Riverwoods, Ill.

Wolters Kluwer is a leading global information services and publishing company. The company provides products and services globally for professionals in the health, tax, accounting, corporate, financial services, legal and regulatory sectors. Wolters Kluwer has annual revenues (2007) of Ä3.4 billion ($4.8 billion), maintains operations in over 33 countries across Europe, North America and Asia Pacific and employs approximately 19,500 people worldwide. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. For more information, visit www.wolterskluwer.com.

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EDITORSí NOTE: CCH analysts are available to discuss tax, banking and securities aspects of the financial rescue plan. Please contact: Leslie Bonacum (847-267-7153 or mediahelp@cch.com); Neil Allen (847-267-2179 or neil.allen@wolterskluwer.com); or Brenda Au (847-267-2046 or brenda.au@wolterskluwer.com).

To access CCH resources on the plan, please visit cch.com/rescue. This site will be updated with new information, including briefings and white papers, on an ongoing basis.