New York, NY, July 22, 2008 – Finacity Corporation (“Finacity”) announced today that it facilitated the closing and funding of an enhanced trade receivables securitization for Papel, Cartón y Derivados S.A. de C.V. (“PCD”). Acting as the Arranger, Master Servicer and Bond Administrator, Finacity successfully structured a seven-year transaction that provides fixed-rate funding for receivables assigned from PCD. This facility replaces a previous trade receivables securitization and provides for a comparatively higher advance rate, a larger eligible pool, a lower cost of funds and a longer maturity. The senior tranche, accommodating liquidity up to MXN 270 million, is rated ‘A.mx’ by Standard & Poor’s Mexico and is expected to mature in 2015. Finacity has ongoing responsibilities that include performing as the Master Servicer and Bond Administrator. As Bond Administrator, Finacity will generate reports daily for the various constituents: PCD, investor and rating agency in order to provide all parties with visibility to assets, collateral values, cash flows and receivables performance.

“Especially considering the adverse credit environment, we are very pleased to have worked with Finacity to launch a longer term, better priced, highly rated and collateral maximizing funding that proved compelling to PCD and a multi-national investor. This transaction demonstrates PCD’s continued strong performance and cost-efficient access to the capital markets,” commented Refugio Gonzalez, PCD’s Chairman.

“We are very proud to support PCD in its long term funding objectives, providing a flexible and well priced source of working capital”, said Adrian Katz, Finacity’s Chief Executive Officer.

About Finacity Corporation

Finacity is a company that specializes in the provision of efficient, securitization-based trade receivables funding solutions as well as state-of-the-art servicing, detailed transaction transparency and reporting capabilities. Finacity’s offerings can include both domestic and international receivables for its clients. Finacity’s strategic partners and investors include ABN AMRO Bank, Bank of America, Euler Hermes ACI, Amroc Investments, Avenue Capital, Ecoban and Kleiner Perkins Caufield & Byers. Finacity is active globally with receivable obligors in more than 80 countries. More information can be found at www.finacity.com.

About Papel, Cartón y Derivados de C.V.

PCD is a private company founded in 1973 and based in Celaya, Mexico. PCD manufactures paperboard and containerboard. Its sales exceed MXN 1 billion. More information can be found at www.pcd.com.mx.