LISTING SUPPLEMENT $189000000 Class A-1 Notes $342100000 ...

The underwriters may assist in resales of the notes but are not required to do so. The
related prospectus supplement will indicate whether any of the underwriters intends to make a
secondary market in the notes offered by that prospectus supplement. No underwriter will be
obligated to make a secondary market.
Each underwriting agreement will provide that we and The First Marblehead Corporation
will indemnify the underwriters against certain civil liabilities, including liabilities under the
Securities Act of 1933, as amended, or contribute to payments the underwriters may be required
to make on those civil liabilities.
Each trust may, from time to time, invest the funds in its trust accounts in eligible
investments acquired from the underwriters.
Under each of the underwriting agreements for a given series of notes, the closing of the
sale of any class of notes will be conditioned on the closing of the sale of all other classes.
The place and time of delivery for the notes will appear in the related prospectus
supplement.
LEGAL MATTERS
Thacher Proffitt & Wood LLP, our counsel, will give opinions on specific matters for the
trusts, the administrator and us.
Each prospectus supplement will identify the other law firms who will give opinions on
additional legal matters for the underwriters and specific U.S. federal matters.
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