CarVal Investors Selects Smarsh for E-Mail Archiving and Compliance Services

Portland, Ore., October 7, 2009 - Smarsh®, the managed service leader in innovative, secure and reliable e-mail archiving and compliance solutions, announced today that CarVal Investors, a global leader in managing opportunistic value investments, has selected Smarsh to provide hosted e-mail archiving and compliance services for its 11 worldwide offices.

"CarVal Investors is pleased to be working with Smarsh to ensure we are exceeding industry standards in compliance and maintaining a high level of transparency and record-keeping," said Uzi Rosha, chief compliance officer of CarVal Investors.

Smarsh was selected following CarVal Investors' comprehensive vendor evaluation process in large part because of its leadership in SEC e-mail compliance. With a large concentration of its customer base in the financial services industry, Smarsh has helped clients like CarVal Investors compile exemplary regulatory audit track records and surpass the standards within the Securities and Exchange Commission's e-mail compliance mandates (notably rules 17a-3, 17a-4 and 204-2).

"We are proud to welcome CarVal Investors to our client roster and to provide the firm with the e-mail archiving and compliance tools needed to not only satisfy regulations, but to proactively manage risk," said Stephen Marsh, founder and CEO of Smarsh. "We aim for our relationship to serve as a valuable, trust-building signal to CarVal Investors' own investors, demonstrating its commitments to operating with high standards of transparency and compliance."

Smarsh's hosted e-mail archiving solution facilitates compliance by:

• Capturing and preserving electronic business records in duplicate and in a non-rewriteable and non-erasable form for the appropriate and specified retention period.
• Offering clients instant access to their data with user-friendly search and data production capabilities through the secure, Web-based administration interface, the Smarsh Management Console.
• Indexing, serializing and time/date-stamping each message.
• Enabling day-to-day manual supervision and automated systematic monitoring.
• Logging all messages inspections and providing a comprehensive message and system audit trail.
• Producing customizable system activity reports on-demand to illustrate policy enforcement and evidence of review.

Smarsh also serves as an independent third party downloader (as mandated in 17a-4), providing access to the organization's electronic records if the firm is unable.

About CarVal Investors (www.carvalinvestors.com)

CarVal Investors is a global leader in managing opportunistic value investments. Founded in 1987, CarVal Investors has managed the acquisition of more than $32 billion in assets in 3,900 transactions in 57 countries. CarVal Investors has $8 billion in assets under management. CarVal Investors has an experienced team of more than 330 employees in 11 offices and a global platform focused on managing investments in credit-intensive assets and market inefficiencies.

About Smarsh (www.smarsh.com)

Smarsh is the managed service leader in secure, innovative and reliable e-mail-archiving solutions for message compliance and records retention, proactive litigation readiness and mail server data management.

The SaaS (software as a service) delivery model enables clients to eliminate IT infrastructure costs and minimize operating burden, while benefiting from Smarsh's expertise and experience in hosting large volumes of mission-critical client data. Customizable solutions fit the needs, budgets and technological infrastructure of any firm and are matched with unrivaled customer support and service.

Founded in 2001, Smarsh's growth has been recognized at both the local and national level. In each of the last two years, the company has been named to the "Inc. 500", Inc. magazine's annual analysis of the fastest-growing companies in the United States, while The Portland Business Journal recently ranked Smarsh No. 1 in its 2009 growth rankings for the state of Oregon.

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