Highland Capital Management, L.P.

History Lesson: the China Bubble (May 2011)

Highland Capital Management’s co-founder and President James Dondero describes how many of the causes of the Asian financial crisis the late ‘90s are present to an even greater extent in China. This paper was published as the "Unconventional Wisdom" column of the June 2011 issue of Institutional Investor.

Read Column

The information contained herein does not constitute a distribution, an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction in which such distribution or offer is not authorized. In particular, the information herein is not for distribution and does not constitute an offer to sell or the solicitation of any offer to buy any securities in the United States (“US”) to or for the benefit of any US person (being residents of the US or partnerships or corporations organized under the laws of the US).

Assets under management figures are based on fee-earning AUM for Highland Capital Management and its affiliates, rounded to the nearest $100 million, and as of 3/31/2012

* NOT FDIC INSURED * May lose value * No bank guarantee. * Past performance is not indicative of future results. *