Pzena Investment Management, Inc., incorporated on May 8, 2007, conducts business through Pzena Investment Management, LLC. Its operating company, Pzena Investment Management, LLC, is an investment management firm. As of December 31, 2008, the Company managed assets in 12 value-oriented investment strategies across a range of market capitalizations in both United States and international capital markets. The Company’s assets under management (AUM), was $10.7 billion at December 31, 2008. It managed money on behalf of institutions and high net worth individuals and acted as sub-investment adviser to 11 Securities and Exchange Commission (SEC) registered mutual funds and 10 offshore funds.