Freestone Capital Receives a $40 Million EquityInvestment From The Sienna Group.

Freestone Management Team and Employees Remain in Place With New Resources to Further Grow Business

SEATTLE -- Freestone Capital Management, a Seattle-based wealth and asset management firm, today announced that it will receive a $40 million equity investment from The Sienna Group, a Seattle-based

private investment firm. Freestone, which has approximately $2.0 billion in assets under management, is one of the 30 largest independent wealth management firms (by assets under management) in the United States1. Specific financial terms of the investment, which is expected to be completed during the first quarter of 2008, were not disclosed.

The Freestone management team and all Freestone employees will remain with the company following the transaction, and it is anticipated that there will be additions to the team as the company prepares to further expand its business. Freestone founder Gary Furukawa will continue to own a significant stake in the firm and serve full-time as chairman and chief investment officer.

"This investment from The Sienna Group will help us achieve our vision of building Freestone into one of the most significant and respected wealth and asset management firms on the West Coast," said Mr. Furukawa.

"We believe our clients and employees will benefit from this partnership through the expansion of our wealth management platform to include new products and services, such as private equity and real estate," added Erik Morgan, president of Freestone. "In selecting a partner it was important to find someone with the capabilities to help us expand and that also shares the same core values and long-term perspective that Freestone has been built upon. We believe we have found this partner in The Sienna Group."

With the investment from Sienna, Freestone expects to open a second West Coast office during 2008 and will also be actively reviewing other options to expand including the addition of experienced wealth management professionals as well as local and regional acquisitions.

"We believe Freestone is one of the most respected wealth management companies in the nation. We are pleased with the opportunity to partner with the Freestone team to provide the capital and other resources necessary to support the company in its next phase of growth," said Scott Svenson, founder and managing partner of The Sienna Group. "We expect Freestone to continue to provide tailored, world-class wealth and investment management services to its existing clients while we help the team prepare to grow the business both organically and via selective acquisition. Ultimately, we hope to build one of the most successful wealth management firms on the West Coast."

About Freestone Capital Management

Founded in 1999, Freestone Capital Management is a wealth and asset management firm comprised of highly specialized professionals with expertise in traditional and alternative investments and estate, trust and tax planning. The firm's clients include high net-worth individuals and families with liquid assets ranging from $2 million to $100 million.

About The Sienna Group

Founded in 2003, The Sienna Group is a Seattle-based private investment firm that partners with management to build emerging growth businesses into enduring organizations. As Sienna is structured as a holding company and not a fund, it is free to take a very long-term approach. Its current partner companies include Carluccio's Ltd, Redwood Real Estate, Banner Retail Marketing and Ivey Imaging.

1 According to the July/August 2007 issue of Bloomberg's Wealth Manager Magazine "Top Dog Report".