August 2, 2004

Merrill Lynch Structured Products Chief Joins Highland Capital

NEW YORK (HedgeWorld.com)--Highland Capital Management LP signed up Dansby White as a managing director. The firm announced that Mr. White would play a leadership role in expanding its structured finance and CDO business, with responsibility for creating new products and funds. He will work from Highland's New York office.

Previously, he was a managing director and head of structured finance and CDOs at Merrill Lynch & Co. He started at Merrill in 1998 as a director in the credit derivatives group, was promoted to global head of the CDO operation in 1999, and in 2000 took on additional responsibilities in asset-backed and commercial mortgage-backed securities and aircraft finance.

Mr. White started his career as an attorney, working at Cahill Gordon & Reindel and White and Case. As a lawyer his work included structured and leveraged finance, public and private funds, leasing and bankruptcy transactions.

Highland president James Dondero commented in a statement that Mr. White has depth and breadth of expertise in a broad range of asset classes and a demonstrated talent for applying structured-finance technology to new asset classes.

"Highland is committed to growing its capabilities in the structured products space, and delivering value for both debt and equity investors--Dansby will help us accomplish that mandate," he said.

Dallas-headquartered Highland manages approximately US$10 billion in assets through hedge funds, separate accounts, mutual funds and structured vehicles. It focuses on specialized credit markets, including syndicated loans, high-yield bonds and special situations.

CKurdas@HedgeWorld.com

Contact Robert F. Keane with questions or comments at bkeane@investmentadvisor.com.

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