Frank Filipps, CEO of Clayton Holdings,
Rings The NASDAQ Stock Market Closing Bell

Friday, March 24, 2006
at NASDAQ's MarketSite
in New York City.

Clayton Holdings

Frank Filipps, CEO of Clayton Holdings, presides over the closing bell to celebrate its initial public offering on the NASDAQ. Clayton Holdings provides a full suite of outsourced services, information-based analytics and specialty consulting for buyers and sellers of, and investors in, mortgage-related loans and securities and other debt instruments.

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Click for larger pictures of the NASDAQ MarketSite. Additional Photographs for 3/24/2006 Download Hi-Res Quality Photo of this NASDAQ Market Close - Pictured: Frank Filipps, CEO of Clayton Holding, signs in at the Closing Bell. These photos are Copyright 2006, The Nasdaq Stock Market Inc. and available for re-publication by the news media only. Any commercial use is strictly prohibited without the prior written consent of The Nasdaq Stock Market Inc. © Copyright 2006, The NASDAQ Stock Market, Inc. Reprinted with the permission of The Nasdaq Stock Market, Inc.