Article: PricewaterhouseCoopers U.S. IPO Watch Report: After a Record Year of U.S. IPO Activity in 2007, 2008 is Off to a Sluggish Start

To: BUSINESS EDITORS

Contact: Jenna Focarino, Brainerd Communicators, Inc., +1-212- 986-6667, focarino@braincomm.com; Nancy Wu, PricewaterhouseCoopers Transaction Services, +1-646-471-2471, nancy.n.wu@us.pwc.com

NEW YORK, April 21 /PRNewswire/ -- United States IPO (initial public offering) activity in 2007 was the highest since 2000. During 2007, 296 IPOs generated $65.1 billion in proceeds compared to 236 IPOs that raised $49.9 billion in 2006. The turbulence in the credit markets did not hinder IPO activity in the latter half of 2007. In fact, the fourth quarter, with 101 IPOs, was the most active quarter in terms of IPO volume in the last eight years.

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