<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
------------------
Aames Financial Corporation
--------------------------------------------------------------------------------
(Name of Issuer)
Series C Convertible Preferred Stock, par value $0.001
--------------------------------------------------------------------------------
(Title of Class of Securities)
00253A408
--------------------------------------------------------------------------------
(CUSIP Number of Class of Securities)
Capital Z Management, LLC
54 Thompson Street
New York, New York 10012
Attention: Mr. David A. Spuria
Tel. No. (212) 898-8700
Copy to :
Thomas M. Cerabino, Esq.
Willkie Farr & Gallagher
787 Seventh Avenue
New York, New York 10019
(212) 728-8000
--------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
July 12, 2000
--------------------------------------------------------------------------------
(Date of Event which Requires
Filing of this Schedule)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(b)(3) or (4), check the following: [ ]
<PAGE>
SCHEDULE 13D
------------------ ------------------
CUSIP No. 00253A 2 Page 2 of 17 Pages
------------------ ------------------
----------- --------------------------------------------------------------------
1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Specialty Finance Partners
----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda
--------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
-0-
--------- ------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 18,827,346
OWNED BY EACH
REPORTING --------- ------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
-0-
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
18,827,346
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
18,827,346
----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
93.23%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
----------- --------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION
<PAGE>
SCHEDULE 13D
------------------ ------------------
CUSIP No. 00253A 2 Page 3 of 17 Pages
------------------ ------------------
----------- --------------------------------------------------------------------
1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Capital Z Financial Services Fund II, L.P.
----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda
--------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
-0-
--------- ------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 18,827,346
OWNED BY EACH
REPORTING --------- ------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
-0-
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
18,827,346
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
18,827,346
----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
93.23%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
----------- --------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION
<PAGE>
SCHEDULE 13D
------------------ ------------------
CUSIP No. 00253A 2 Page 4 of 17 Pages
------------------ ------------------
----------- --------------------------------------------------------------------
1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Capital Z Financial Services Private Fund II, L.P.
----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda
--------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
-0-
--------- ------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 18,827,346(1)
OWNED BY EACH
REPORTING --------- ------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
-0-
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
18,827,346(1)
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
18,827,346
----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
93.23%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
----------- --------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION
----------
(1) Solely in its capacity as a general partner of Specialty Finance Partners.
<PAGE>
SCHEDULE 13D
------------------ ------------------
CUSIP No. 00253A 2 Page 5 of 17 Pages
------------------ ------------------
----------- --------------------------------------------------------------------
1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Equifin Capital Partners, Ltd.
----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
--------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
-0-
--------- ------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 18,827,346(2)
OWNED BY EACH
REPORTING --------- ------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
-0-
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
18,827,346(2)
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
18,827,346
----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
93.23%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
----------- --------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION
----------
(2) Solely in its capacity as a general partner of Specialty Finance Partners.
<PAGE>
SCHEDULE 13D
------------------ ------------------
CUSIP No. 00253A 2 Page 6 of 17 Pages
------------------ ------------------
----------- --------------------------------------------------------------------
1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Capital Z Partners, L.P.
----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not Applicable
----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda
--------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
-0-
--------- ------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 18,827,346(3)
OWNED BY EACH
REPORTING --------- ------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
-0-
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
18,827,346(3)
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
18,827,346
----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
93.23%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
----------- --------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION
----------
(3) Solely in its capacity as the sole general partner of Capital Z Financial
Services Fund II, L.P.
<PAGE>
SCHEDULE 13D
------------------ ------------------
CUSIP No. 00253A 2 Page 7 of 17 Pages
------------------ ------------------
----------- --------------------------------------------------------------------
1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Capital Z Partners, Ltd.
----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not Applicable
----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda
--------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
-0-
--------- ------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 18,827,34(4)
OWNED BY EACH
REPORTING --------- ------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
-0-
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
18,827,346(4)
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
18,827,346
----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
93.23%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
----------- --------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION
----------
(4) Solely in its capacity as the sole general partner of Capital Z Partners,
L.P., which is the sole general partner of Capital Z Financial Services
Fund II, L.P.
<PAGE>
This Amendment No. 2 to Schedule 13D with respect to Aames Financial
Corporation is being filed by Specialty Finance Partners, Capital Z Financial
Services Fund II, L.P., Capital Z Partners, L.P., Capital Z Partners, Ltd.,
Capital Z Financial Services Private Fund II, L.P., and Equifin Capital
Partners, Ltd. (collectively, the "Reporting Persons") to amend the Schedule 13D
(the "Schedule 13D") originally filed by certain of the Reporting Persons on
April 12, 2000, as amended on June 30, 2000. Capitalized terms used but not
defined herein have the meanings assigned to such terms in the Schedule 13D.
Item 4. Purpose of Transaction.
Item 4 of Schedule 13D is hereby amended by adding before the final
paragraph of such item the following:
On July 12, 2000, SFP exchanged 40,800,000 shares of Series C Convertible
Preferred Stock for 40,800,000 shares of newly designated Series D Convertible
Preferred Stock. In addition, SFP purchased 18,023,529 shares of Series D
Convertible Preferred Stock of the Company. In connection with such purchase the
Company issued to SFP warrants to purchase up to 5,000,000 million shares of
Series D Convertible Preferred Stock at an exercise price of $0.85 per share
(the "Series D Warrant"). The Series C Warrant expired upon the issuance of the
Series D Warrant.
Pursuant to the Series C Purchase Agreement, the Company amended its
Certificate of Incorporation to designate shares of the Series D Preferred Stock
(the "Series D Certificate of Designations"), which has identical terms and
conditions to the Series C Convertible Preferred Stock, except that the Series D
Convertible Preferred Stock has a stated value and a liquidation value per share
of $0.85. The holders of Series D Convertible Preferred Stock have no right to
elect directors of the Company.
8 of 17
<PAGE>
In connection with such purchase of Series D Convertible Preferred Stock,
the Company amended the Registration Rights Agreement to include the shares of
Series D Convertible Preferred Stock pursuant to the Letter Amendment to the
Registration Rights Agreement, dated July 12, 2000, by and between SFP and the
Company (the "Registration Rights Amendment").
As a result of the completion of these transactions, SFP holds 18,827,346
of Series C Convertible Preferred Stock which represents approximately 93.23% of
the outstanding shares of Series C Convertible Preferred Stock; and SFP holds
Series B Convertible Preferred Stock, Series C Convertible Preferred Stock and
Series D Convertible Preferred Stock representing 92.08% of the combined voting
power of the Company.
The foregoing descriptions of the Series D Certificate of Designations,
Series D Warrant and the Registration Rights Amendment are qualified in their
entirety by reference to the Series D Certificate of Designations, Series D
Warrant and the Registration Rights Amendment, which are attached hereto as
Exhibit 13, Exhibit 14 and Exhibit 15, respectively, and are incorporated herein
by reference.
Item 5. Interest in Securities of the Issuer.
Item 5 (a) and (b) of Schedule 13D are hereby amended and restated in its
entirety by substituting the following in lieu thereof:
(a)
SFP
As of July 12, 2000, SFP beneficially owned 18,827,346 shares of Series C
Preferred Stock, which, based on calculations made in accordance with Rule
13d-3(d) of the Exchange Act and there being 20,194,672 shares of Series C
Preferred Stock outstanding (as
9 of 17
<PAGE>
represented by the Company to the Reporting Persons), represents approximately
93.23% of the outstanding shares of Series C Preferred Stock.
CAPITAL Z
In its capacity as a general partner of SFP, Capital Z may, pursuant to
Rule 13d-3 of the Exchange Act, be deemed to be the beneficial owner of
18,827,346 shares of Series C Preferred Stock, which, based on calculations made
in accordance with Rule 13d-3(d) of the Exchange Act and there being 20,194,672
shares of Series C Preferred Stock outstanding (as represented by the Company to
the Reporting Persons), represents approximately 93.23% of the outstanding
shares of Series C Preferred Stock.
CAPITAL Z PRIVATE FUND
In its capacity as a general partner of SFP, Capital Z Private Fund may,
pursuant to Rule 13d-3 of the Exchange Act, be deemed to be the beneficial owner
of 18,827,346 shares of Series C Preferred Stock, which, based on calculations
made in accordance with Rule 13d-3(d) of the Exchange Act and there being
20,194,672 shares of Series C Preferred Stock outstanding (as represented by the
Company to the Reporting Persons), represents approximately 93.23% of the
outstanding shares of Series C Preferred Stock.
EQUIFIN
In its capacity as a general partner of SFP, Equifin may, pursuant to Rule
13d-3 of the Exchange Act, be deemed to be the beneficial owner of 18,827,346
shares of Series C Preferred Stock, which, based on calculations made in
accordance with Rule 13d-3(d) of the Exchange Act and there being 20,194,672
shares of Series C Preferred Stock outstanding as
10 of 17
<PAGE>
represented by the Company to the Reporting Persons), represents approximately
93.23% of the outstanding shares of Series C Preferred Stock).
CAP Z L.P.
In its capacity as the sole general partner of Capital Z and Capital Z
Private Fund, Cap Z L.P. may, pursuant to Rule 13d-3 of the Exchange Act, be
deemed to be the beneficial owner of 18,827,346 shares of Series C Preferred
Stock, which, based on calculations made in accordance with Rule 13d-3(d) of the
Exchange Act and there being 20,194,672 shares of Series C Preferred Stock
outstanding (as represented by the Company to the Reporting Persons), represents
approximately 93.23% of the outstanding shares of Series C Preferred Stock.
CAP Z LTD.
In its capacity as the sole general partner of Cap Z L.P., which is the
general partner of Capital Z and Capital Z Private Fund, Cap Z Ltd. may,
pursuant to Rule 13d-3 of the Exchange Act, be deemed to be the beneficial owner
of 18,827,346 shares of Series C Preferred Stock, which, based on calculations
made in accordance with Rule 13d-3(d) of the Exchange Act and there being
20,194,672 shares of Series C Preferred Stock outstanding (as represented by the
Company to the Reporting Persons), represents approximately 93.23% of the
outstanding shares of Series C Preferred Stock.
11 of 17
<PAGE>
(b)
SFP
1. Sole power to vote or to direct the vote -0-
2. Shared power to vote or to direct the vote 18,827,346
3. Sole power to dispose or to direct the disposition -0-
4. Shared power to dispose of or to direct the disposition 18,827,346
CAPITAL Z
1. Sole power to vote or to direct the vote -0-
2. Shared power to vote or to direct the vote 18,827,346
3. Sole power to dispose or to direct the disposition -0-
4. Shared power to dispose of or to direct the disposition 18,827,346
CAP Z PRIVATE FUND
1. Sole power to vote or to direct the vote -0-
2. Shared power to vote or to direct the vote 18,827,346
3. Sole power to dispose or to direct the disposition -0-
4. Shared power to dispose of or to direct the disposition 18,827,346
EQUIFIN
1. Sole power to vote or to direct the vote -0-
2. Shared power to vote or to direct the vote 18,827,346
3. Sole power to dispose or to direct the disposition -0-
12 of 17
<PAGE>
4. Shared power to dispose of or to direct the disposition 18,827,346
CAP Z L.P.
1. Sole power to vote or to direct the vote -0-
2. Shared power to vote or to direct the vote 18,827,346
3. Sole power to dispose or to direct the disposition -0-
4. Shared power to dispose of or to direct the disposition 18,827,346
CAP Z LTD.
1. Sole power to vote or to direct the vote -0-
2. Shared power to vote or to direct the vote 18,827,346
3. Sole power to dispose or to direct the disposition -0-
4. Shared power to dispose of or to direct the disposition 18,827,346
Item 7. Material to be Filed as Exhibits.
Item 7 of Schedule 13D is hereby amended by inserting the following at the end
thereof:
13. Series D Convertible Preferred Stock Certificate of Designations.
14. Series D Warrant to purchase 5,000,000 shares of Series D Convertible
Preferred Stock of the Company.
15. Letter Amendment to the Registration Rights Agreement, dated July 12, 2000,
between SFP and the Company.
13 of 17
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of its knowledge and belief, the
undersigned certifies that the information set forth in this statement is true,
complete and correct.
Dated: July 24, 2000
CAPITAL Z FINANCIAL SERVICES
FUND II, L.P., a Bermuda limited partnership
By: Capital Z Partners, L.P., its General Partner
By: Capital Z Partners, Ltd., its General Partner
By: /s/ David A. Spuria
------------------------------
Name: David A. Spuria
Title: General Counsel
CAPITAL Z PARTNERS, L.P.,
a Bermuda limited partnership
By: Capital Z Partners, Ltd., its General Partner
By: /s/ David A. Spuria
------------------------------
Name: David A. Spuria
Title: General Counsel
CAPITAL Z PARTNERS, LTD.,
a Bermuda corporation
By: /s/ David A. Spuria
------------------------------
Name: David A. Spuria
Title: General Counsel
14 of 17
<PAGE>
SPECIALTY FINANCE PARTNERS,
a Bermuda general partnership
By: Capital Z Financial Services Fund II, L.P.,
its General Partner
By: Capital Z Partners, L.P., its General Partner
By: Capital Z Partners, Ltd., its General Partner
By: /s/ David A. Spuria
------------------------------
Name: David A. Spuria
Title: General Counsel
CAPITAL Z FINANCIAL SERVICES PRIVATE FUND II, L.P.,
a Bermuda limited partnership
By: Capital Z Partners, L.P., its General Partner
By: Capital Z Partners, Ltd., its General Partner
By: /s/ David A. Spuria
------------------------------
Name: David A. Spuria
Title: General Counsel
EQUIFIN CAPITAL PARTNERS, LTD.,
a Cayman Islands corporation
By: Mani A. Sadeghi
------------------------------
Name: Mani A. Sadeghi
Title: President, Chief Executive
Officer and Director
15 of 17
<PAGE>
EXHIBIT INDEX
Exhibit.No. Title
----------- -----
99.13 Series D Convertible Preferred Stock Certificate of
Designations.
99.14. Series D Warrant to purchase 5,000,000 shares of Series D
Convertible Preferred Stock of the Company.
99.15. Letter Amendment to the Registration Rights Agreement, dated
July 12, 2000, between SFP and the Company.
