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NEW YORK, NY, April 16, 2007 — Sallie Mae announced today its $25 billion sale to private equity firms, JC Flowers and Friedman, Fleischer & Lowe who combined for the acquisition with JPMorgan Chase and Bank of America. Covington & Burling LLP represented Greenhill & Co., financial advisor to the Special Committee of Sallie Mae, in the deal. The Covington team included corporate partners Jack Bodner and Scott Smith and corporate associates Don Saelinger and Marcus Weiss of the firm’s New York office.