Nearly 11,000 Claims Funded Since Inception

Richmond, Virginia December 11, 2009 - NatLUST is pleased to announced that since inception, it has funded 10,869 claims totalling $128 million.  We currently hold just over $24 million in UST claims, which break down as follows:

• ILLINOIS  - 398 claims totalling $16.5 million
  
• VIRGINIA - 538 claims totalling $4.8 million
  
• CONNECTICUT - 85 claims totalling $2.9 million
  
• MASSACHUSETTS - 21 claims totalling $485,000

NatLUST, a 501(c)(3) nonprofit,  was organized in 2005 to become the national successor to a Virginia quasi-governmental UST claim financing program.  NatLUST's program involves purchasing approved UST claims from tank owners, providing immediate liquidity to the marketplace. NatLUST essentially steps into the state's payment queue, financing the timing mismatch between when a state regulatory agency can approve a claim for payment and when money becomes available to reimburse the claim. Because the source of repayment are approved claims -- where the tank fund either has a dedicated stream of tax revenues or annual appropriations from the legislature, financing can be made available to all tank owners, irrexpective of their financial condition. NatLUST offers a 'direct payment' option whereby it will pay the tank owner's consultant directly. NatLUST's claim financing program is not deemed 'debt' to the states or the companies that participate.

12/11/2009

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