Arbor Realty Trust Reports First Quarter 2013 Results and Declares Common and Preferred Dividends

Arbor Realty Trust Reports First Quarter 2013 Results and Declares Common and
Preferred Dividends

First Quarter Highlights:

  *Declares a common dividend of $0.12 per share
  *Declares a dividend of $0.6875 per share of Series A preferred stock
  *FFO of $8.3 million, or $0.24 per diluted common share^1
  *Net income attributable to common stockholders of $6.6 million, or $0.19
    per diluted common share
  *Raised $88.8 million of capital issuing 11.6 million common shares in two
    offerings
  *Raised $37.3 million of capital in a preferred stock offering
  *Closed a $260.0 million collateralized loan obligation
  *Improved funding sources by closing a $50.0 million warehouse facility and
    increased the capacity of two financing facilities by a total of $30.0
    million
  *Originated 10 new loans totaling $98.9 million
  *Purchased four residential mortgage-backed securities totaling $41.8
    million 
  *Adjusted book value per common share of $9.68, GAAP book value per common
    share of $7.53^1
  *Generated a gain of $3.8 million from the retirement of CDO debt
  *Recorded $2.5 million in loan loss reserves

UNIONDALE, N.Y., May 3, 2013 (GLOBE NEWSWIRE) -- Arbor Realty Trust, Inc.
(NYSE:ABR), a real estate investment trust focused on the business of
investing in real estate related bridge and mezzanine loans, preferred and
direct equity investments, mortgage-related securities and other real estate
related assets, today announced financial results for the first quarter ended
March 31, 2013. Arbor reported net income attributable to common stockholders
for the quarter of $6.6 million, or $0.19 per diluted common share, compared
to net income attributable to common stockholders for the quarter ended March
31, 2012 of $4.2 million, or $0.17 per diluted common share. Funds from
operations ("FFO") for the quarter ended March 31, 2013 was $8.3 million, or
$0.24 per diluted common share, compared to FFO of $1.9 million, or $0.08 per
diluted common share for the quarter ended March 31, 2012.^1

The balance of the Company's loan and investment portfolio, excluding loan
loss reserves, at March 31, 2013 was approximately $1.7 billion, as compared
to approximately $1.6 billion at December 31, 2012. The average balance of the
Company's loan and investment portfolio during the first quarter of 2013,
excluding loan loss reserves, was $1.7 billion and the average yield on these
assets for the quarter was 5.63%, compared to $1.6 billion and 5.10% for the
fourth quarter of 2012.

The balance of debt that finances the Company's loan and investment portfolio
at March 31, 2013 was approximately $1.3 billion, as compared to approximately
$1.2 billion at December 31, 2012. The average balance of debt that finances
the Company's loan and investment portfolio was approximately $1.3 billion for
the first quarter of 2013, compared to $1.2 billion for the fourth quarter of
2012. The average cost of borrowings for the first quarter was 3.38%, compared
to 3.18% for the fourth quarter of 2012. In addition, the first quarter of
2013 included a $0.1 million increase in interest expense for a change in the
market value of certain interest rate swaps, compared to a $0.3 million
increase in interest expense in the fourth quarter of 2012. Excluding the
effect of these swaps, the average cost of borrowings for the first quarter
was 3.35%, compared to 3.09% for the fourth quarter of 2012.

Financing Activity

As of March 31, 2013, Arbor's outstanding borrowings for its loan and
investment portfolio totaled approximately $1.3 billion.

In February 2013, the Company closed a one year, $50 million warehouse
facility with a financial institution to finance first mortgage loans on
multifamily properties. The facility has an interest rate of 250 basis points
over LIBOR, a commitment fee, and warehousing and non-use fees, has a maximum
advance rate of 75% and contains certain financial covenants and restrictions.

On January 28, 2013, Arbor completed its second collateralized loan obligation
("CLO") totaling approximately $260.0 million of real estate related assets
and cash. An aggregate of $177.0 million of investment grade-rated debt was
issued, and Arbor retained an equity interest in the portfolio with a notional
amount of $83.0 million. The notes have an initial weighted average spread of
approximately 235 basis points over one-month LIBOR, including fees and
transaction costs, the initial weighted average note rate was approximately
3.00%. The facility has a two-year replenishment period that allows the
principal proceeds from repayments of the collateral assets to be reinvested
in qualifying replacement assets, subject to certain conditions. Arbor
accounts for this transaction on its balance sheet as a financing.

In January 2013, the Company amended one of its warehouse facilities
increasing the committed amount from $50 million to $75 million. In April
2013, the Company extended the facility for two years to April 2015 and
reduced the overall interest rate by approximately 100 basis points, including
a reduction in the spread over LIBOR from 275 basis points to 225 basis
points.

Additionally, the Company amended another financing facility increasing the
committed amount from $15 million to $20 million.

The Company is subject to various financial covenants and restrictions under
the terms of the Company's CDO/CLO vehicles, credit facilities, and repurchase
agreements. The Company believes that it was in compliance with all financial
covenants and restrictions as of March 31, 2013.

The Company's CDO/CLO vehicles contain interest coverage and asset over
collateralization covenants that must be met as of the waterfall distribution
date in order for the Company to receive such payments. If the Company fails
these covenants in any of its CDOs or CLO, all cash flows from the applicable
vehicle would be diverted to repay principal and interest on the outstanding
bonds and the Company would not receive any residual payments until that
vehicle regained compliance with such covenants. As of the most recent
determination dates in April 2013, the Company was in compliance with all
CDO/CLO covenants. In the event of a breach of the covenants that could not be
cured in the near-term, the Company would be required to fund its non CDO/CLO
expenses, including management fees and employee costs, distributions required
to maintain REIT status, debt costs, and other expenses with (i) cash on hand,
(ii) income from any CDO/CLO not in breach of a covenant test, (iii) income
from real property and loan assets, (iv) sale of assets, (v) or accessing the
equity or debt capital markets, if available.

The chart below is a summary of the Company's CDO/CLO compliance tests as of
the most recent determination dates in April 2013:

Cash Flow Triggers         CDO I ^(3) CDO II ^ (3) CDO III     CLO I   CLO II
                                                   ^(3)
                                                                  
Overcollateralization ^(1)                                         
                                                                  
Current                    174.76%    138.97%      106.56%     142.96% 146.89%
                                                                  
Limit                      145.00%    127.30%      105.60%     137.86% 144.25%
                                                                  
Pass / Fail                Pass       Pass         Pass        Pass    Pass
                                                                  
                                                                  
Interest Coverage ^(2)                                             
                                                                  
Current                    602.15%    504.62%      604.59%     241.60% 330.08%
                                                                  
Limit                      160.00%    147.30%      105.60%     120.00% 120.00%
                                                                  
Pass / Fail                Pass       Pass         Pass        Pass    Pass

[^(1) The overcollateralization ratio divides the total principal balance of
all collateral in the CDO/CLO by the total principal balance of the bonds
associated with the applicable ratio.To the extent an asset is considered a
defaulted security, the asset's principal balance for purposes of the
overcollateralization test is the lesser of the asset's market value or the
principal balance of the defaulted asset multiplied by the asset's recovery
rate which is determined by the rating agencies.]

[^(2) The interest coverageratio divides interest income by interest expense
for the classes senior to those retained by the Company.]

[^(3) CDO I, CDO II, and CDO III have reached the end of their replenishment
periods. As such, investor capital is repaid quarterly from proceeds received
from loan repayments held as collateral in accordance with the terms of the
respective CDO.]

Portfolio Activity

During the first quarter of 2013, Arbor purchased four residential
mortgage-backed securities with a total face value of $41.8 million, of which
three residential mortgage-backed securities totaling $16.8 million were
accounted for as derivatives net of financings of $13.1 million in other
assets on the Consolidated Balance Sheets. These securities had paydowns
totaling approximately $0.6 million during the quarter, reducing their
combined face value to $41.2 million as of March 31, 2013. Including this $0.6
million of paydowns, the securities portfolio had total paydowns of
approximately $12.7 million during the quarter.

During the first quarter of 2013, Arbor originated 10 bridge loans totaling
approximately $98.9 million. In addition, nine loans paid off with an unpaid
principal balance of $51.7 million during the quarter, of which $18.5 million
was charged off against loan loss reserves related to four of these loans.
Additionally, nine loans totaling approximately $38.8 million were extended
during the quarter.

At March 31, 2013, the loan and investment portfolio's unpaid principal
balance, excluding loan loss reserves, was approximately $1.7 billion, with a
weighted average current interest pay rate of 4.90%. Including certain fees
earned and costs associated with the loan and investment portfolio, the
weighted average current interest rate was 5.22% at March 31, 2013. At the
same date, advances on financing facilities pertaining to the loan and
investment portfolio totaled approximately $1.3 billion, with a weighted
average interest rate of 3.17% excluding changes in the market value of
certain interest rate swaps.

As of March 31, 2013, Arbor's loan portfolio consisted of 31% fixed-rate and
69% variable-rate loans.

During the first quarter of 2013, the Company recorded $2.5 million in loan
loss reserves related to two loans with a carrying value of approximately
$13.5 million, before loan loss reserves. The loan loss reserves were the
result of the Company's regular quarterly risk rating review process, which is
based on several factors including current market conditions, real estate
values and the operating status of each property. The Company charged off
$18.5 million of previously recorded loan loss reserves related to four loans
during the first quarter. At March 31, 2013, the Company's total loan loss
reserves were approximately $145.7 million relating to 18 loans with an
aggregate carrying value before loan loss reserves of approximately $234.9
million. The Company recognizes income on impaired loans on a cash basis to
the extent it is received.

The Company had six non-performing loans with a carrying value of
approximately $14.7 million, net of related loan loss reserves of $30.1
million as of March 31, 2013, compared to nine non-performing loans with a
carrying value of approximately $14.9 million, net of related loan loss
reserves of $45.1 million as of December 31, 2012. Income recognition on
non-performing loans has been suspended and will resume if and when the loans
become contractually current and performance has recommenced.

Equity Offerings

In March 2013, Arbor issued approximately 5.6 million shares of common stock
in a public offering receiving net proceeds of approximately $43.0 million.
The Company intends to use the net proceeds from the offering to make
investments, to repurchase or pay liabilities and for general corporate
purposes.

In December 2012, the Company entered into an "At-The-Market" ("ATM") equity
offering sales agreement whereby, in accordance with the terms of the
agreement, from time to time the Company could issue and sell up to 6,000,000
shares of its common stock.During the first quarter of 2013, all of the
6,000,000 shares under the ATM were sold for net proceeds of $45.8 million.
The Company intends to use the net proceeds from the offering to make
investments, to repurchase or pay liabilities and for general corporate
purposes.

In February 2013, Arbor completed an underwritten public offering of
approximately 1.6 million shares of its 8.25% Series A Cumulative Redeemable
Preferred Stock generating net proceeds of approximately $37.3 million after
deducting underwriting fees and estimated offering costs. The Company intends
to use the net proceeds from the offering to make investments, to repurchase
or pay liabilities and for general corporate purposes.

Common Dividend

The Company announced today that its Board of Directors has declared a
quarterly cash dividend of $0.12 per share of common stock for the first
quarter ended March 31, 2013. The dividend is payable on May 31, 2013 to
common shareholders of record on May 15, 2013. The ex-dividend date is May 13,
2013.

Preferred Dividend

The Company announced today that its Board of Directors has declared a cash
dividend of $0.6875 per share of Series A cumulative redeemable preferred
stock reflecting accrued dividends from the date of issuance, February 1,
2013, through May 31, 2013. The dividend is payable on May 31, 2013 to
preferred shareholders of record on May 15, 2013.

Earnings Conference Call

Management will host a conference call today at 10:00 a.m. ET. A live webcast
of the conference call will be available online at
http://www.arborrealtytrust.com/ in the investor relations area of the
Website. Those without Web access should access the call telephonically at
least ten minutes prior to the conference call. The dial-in numbers are (866)
578-5771 for domestic callers and (617) 213-8055 for international callers.
Please use participant passcode 99726510.

After the live webcast, the call will remain available on the Company's
Website, www.arborrealtytrust.com, through June 3, 2013. In addition, a
telephonic replay of the call will be available until May 10, 2013. The replay
dial-in number is (888) 286-8010 for domestic callers and (617) 801-6888 for
international callers. Please use passcode 87219324.

About Arbor Realty Trust, Inc.

Arbor Realty Trust, Inc. is a real estate investment trust, which invests in a
diversified portfolio of multi-family and commercial real estate related
bridge and mezzanine loans, preferred equity investments, mortgage related
securities and other real estate related assets. Arbor commenced operations in
July 2003 and conducts substantially all of its operations through its
operating partnership, Arbor Realty Limited Partnership and its subsidiaries.
Arbor is externally managed and advised by Arbor Commercial Mortgage, LLC, a
national commercial real estate finance company operating through 14 offices
in the US that specializes in debt and equity financing for multi-family and
commercial real estate.

Safe Harbor Statement

Certain items in this press release may constitute forward-looking statements
within the meaning of the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995.These statements are based on management's
current expectations and beliefs and are subject to a number of trends and
uncertainties that could cause actual results to differ materially from those
described in the forward-looking statements. Arbor can give no assurance that
its expectations will be attained.Factors that could cause actual results to
differ materially from Arbor's expectations include, but are not limited to,
continued ability to source new investments, changes in interest rates and/or
credit spreads, changes in the real estate markets, and other risks detailed
in Arbor's Annual Report on Form 10-K for the year ended December 31, 2012 and
its other reports filed with the SEC. Such forward-looking statements speak
only as of the date of this press release. Arbor expressly disclaims any
obligation or undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change in Arbor's
expectations with regard thereto or change in events, conditions, or
circumstances on which any such statement is based.

Non-GAAP Financial Measures

During the quarterly earnings conference call, the Company may discuss
non-GAAP financial measures as defined by SEC Regulation G. In addition, the
Company has used non-GAAP financial measures in this press release. A
supplemental schedule of each non-GAAP financial measure and the comparable
GAAP financial measure can be found on page 11 and 12 of this release.

1. See attached supplemental schedule of non-GAAP financial measures.

ARBOR REALTY TRUST, INC. AND SUBSIDIARIES
                                                               
CONSOLIDATED STATEMENTS OF OPERATIONS
                                                               
                                                               
                                                  Quarter Ended
                                                  March 31,
                                                  2013          2012
                                                  (Unaudited)   (Unaudited)
                                                               
Interest income                                   $22,988,822 $19,606,407
Interest expense                                  10,642,244   11,761,400
Net interest income                               12,346,578   7,845,007
                                                               
Other revenues:                                                
Property operating income                         8,895,434    9,023,161
Other income                                      1,379,458    32,030
Total other revenues                              10,274,892   9,055,191
                                                               
Other expenses:                                                
Employee compensation and benefits                3,083,639    2,484,778
Selling and administrative                        2,189,283    1,660,233
Property operating expenses                       6,870,159    7,325,307
Depreciation and amortization                     1,632,131    1,176,755
Provision for loan losses (net of recoveries)     2,500,155    7,789,408
Management fee - related party                    2,800,000    2,500,000
Total other expenses                              19,075,367   22,936,481
                                                               
Income (loss) from continuing operations before
gain on extinguishment of debt, loss from equity   3,546,103    (6,036,283)
affiliates and benefit from income taxes
Gain on extinguishment of debt                    3,763,000    5,346,121
Loss from equity affiliates                       (81,885)     (250,574)
                                                               
Income (loss) before benefit from income taxes    7,227,218    (940,736)
                                                               
Benefit from income taxes                         --           1,401,558
                                                               
Income from continuing operations                 7,227,218    460,822
Gain on sale of real estate held-for-sale         --           3,487,145
Income from operations of real estate              --           267,624
held-for-sale
Income from discontinued operations               --           3,754,769
                                                               
Net income                                        7,227,218    4,215,591
                                                               
Preferred stock dividends                         533,328      --
Net income attributable to noncontrolling          53,651       53,811
interest
                                                               
Net income attributable to Arbor Realty Trust,     $6,640,239  $4,161,780
Inc. common stockholders
                                                               
Basic earnings per common share:                               
Income from continuing operations, net of
noncontrolling interest and preferred stock        $0.20       $0.02
dividends
Income from discontinued operations               --          0.15
Net income attributable to Arbor Realty Trust,     $0.20       $0.17
Inc. common stockholders
                                                               
Diluted earnings per common share:                             
Income from continuing operations, net of
noncontrolling interest and preferred stock        $0.19       $0.02
dividends
Income from discontinued operations               --          0.15
Net income attributable to Arbor Realty Trust,     $0.19       $0.17
Inc. common stockholders
                                                               
Dividends declared per common share               $0.12       $--
                                                               
Weighted average number of shares of common stock               
outstanding:
                                                               
Basic                                             33,771,925   24,180,165
                                                               
Diluted                                           34,236,689   24,344,154


ARBOR REALTY TRUST, INC. AND SUBSIDIARIES
                                                            
CONSOLIDATED BALANCE SHEETS
                                                            
                                            March 31,        December 31,
                                            2013             2012
                                            (Unaudited)      
Assets:                                                      
Cash and cash equivalents                    $77,964,567    $29,188,889
Restricted cash (includes $71,308,827 and
$41,537,212 from consolidated VIEs,          72,067,155      42,535,514
respectively)
Loans and investments, net (includes
$1,288,284,771 and $1,113,745,356 from       1,387,920,430   1,325,667,053
consolidated VIEs, respectively)
Available-for-sale securities, at fair value
(includes $1,100,000 and $1,100,000 from     3,552,736       3,552,736
consolidated VIEs, respectively)
Securities held-to-maturity, net             55,954,525      42,986,980
Investment in equity affiliates              59,474,992      59,581,242
Real estate owned, net (includes $80,787,215
and $80,787,215 from consolidated VIEs,      125,139,264     124,148,199
respectively)
Due from related party                       458,876         24,094
Prepaid management fee - related party       19,047,949      19,047,949
Other assets (includes $15,077,666 and
$11,709,103 from consolidated VIEs,          55,369,634      55,148,624
respectively)
Total assets                                $1,856,950,128 $1,701,881,280
                                                            
Liabilities and Equity:                                      
Repurchase agreements and credit facilities  $49,403,813    $130,661,619
Collateralized debt obligations (includes
$750,376,079 and $812,452,845 from           750,376,079     812,452,845
consolidated VIEs, respectively)
Collateralized loan obligations (includes
$264,500,000 and $87,500,000 from            264,500,000     87,500,000
consolidated VIEs, respectively)
Junior subordinated notes to subsidiary      158,894,847     158,767,145
trust issuing preferred securities
Notes payable                                51,457,708      51,457,708
Mortgage notes payable – real estate owned   53,751,004      53,751,004
Due to related party                         1,329,758       3,084,627
Due to borrowers (includes $555,668 and
$1,320,943 from consolidated VIEs,           20,344,103      23,056,640
respectively)
Deferred revenue                             77,123,133      77,123,133
Other liabilities (includes $20,418,639 and
$22,013,896 from consolidated VIEs,          66,380,663      72,765,437
respectively)
Total liabilities                           1,493,561,108   1,470,620,158
                                                            
Commitments and contingencies                --              --
                                                            
Equity:                                                      
Arbor Realty Trust, Inc. stockholders'                       
equity:
Preferred stock, $0.01 par value:
100,000,000 shares authorized; 8.25% Series
A cumulative redeemable preferred stock,
$38,787,500 aggregate liquidation            37,315,694      --
preference; 1,551,500 issued and outstanding
at March 31, 2013, no shares issued and
outstanding at December 31, 2012
Common stock, $0.01 par value: 500,000,000
shares authorized; 45,717,742 shares issued,
43,066,975 sharesoutstanding at March 31,   457,178         339,000
2013 and 33,899,992 shares issued,
31,249,225 shares outstanding at December
31, 2012
Additional paid-in capital                   582,279,426     493,211,222
Treasury stock, at cost - 2,650,767 shares   (17,100,916)    (17,100,916)
at March 31, 2013 and December 31, 2012
Accumulated deficit                          (205,076,703)   (207,558,257)
Accumulated other comprehensive loss         (36,420,916)    (39,561,700)
Total Arbor Realty Trust, Inc. stockholders' 361,453,763     229,329,349
equity
Noncontrolling interest in consolidated      1,935,257       1,931,773
entity
Total equity                                363,389,020     231,261,122
Total liabilities and equity                 $1,856,950,128 $1,701,881,280


ARBOR REALTY TRUST, INC. AND SUBSIDIARIES
                                                               
SUPPLEMENTAL SCHEDULE OF NON-GAAP FINANCIAL MEASURES
(Unaudited)
                                                               
                                                               March 31, 2013
                                                               
                                                               
GAAP Arbor Realty Trust, Inc. Stockholders' Equity            $361,453,763
Subtract: 8.25% Series A cumulative redeemable preferred       (37,315,694)
stock
                                                               
GAAP Arbor Realty Trust, Inc. Common Stockholders' Equity     $324,138,069
                                                               
                                                               
Add: 450 West 33rd Street transaction - deferred revenue      77,123,133
Unrealized loss on derivative instruments                     34,776,520
                                                               
Subtract: 450 West 33rd Street transaction - prepaid           (19,047,949)
management fee
                                                               
Adjusted Arbor Realty Trust, Inc. Common Stockholders' Equity $416,989,773
                                                               
                                                               
Adjusted book value per common share                          $9.68
                                                               
GAAP book value per common share                              $7.53
                                                               
Common shares outstanding                                     43,066,975

^Given the magnitude and the deferral structure of the 450 West 33rd Street
transaction combined with the change in the fair value of certain derivative
instruments, Arbor has elected to report adjusted book value per share for the
affected period to currently reflect the future impact of the 450 West 33rd
Street transaction on the Company's financial condition as well as the
evaluation of Arbor without the effects of unrealized losses from certain of
the Company's derivative instruments. Management considers this non-GAAP
financial measure to be an effective indicator, for both management and
investors, of Arbor's financial performance. Arbor's management does not
advocate that investors consider this non-GAAP financial measure in isolation
from, or as a substitute for, financial measures prepared in accordance with
GAAP.

^GAAP book value per share and adjusted book value per share calculations do
not take into account any dilution from the potential exercise of the warrants
issued to Wachovia as part of the 2009 debt restructuring.

ARBOR REALTY TRUST, INC. AND SUBSIDIARIES
                                                                
SUPPLEMENTAL SCHEDULE OF NON-GAAP FINANCIAL MEASURES - Continued
(Unaudited)
                                                                
                                                    Quarter Ended
                                                    March 31,
                                                    2013         2012
                                                                
                                                                
Net income attributable to Arbor Realty Trust, Inc.  $6,640,239 $4,161,780
common stockholders, GAAP basis
                                                                
Subtract:                                                       
Gain on sale of real estate-held-for-sale           --         (3,487,145)
Add:                                                            
Depreciation - real estate owned and held-for-sale   1,632,131   1,176,755
(1)
Depreciation - investment in equity affiliate       22,599      26,936
                                                                
Funds from operations ("FFO")                       $8,294,969 $1,878,326
                                                                
Diluted FFO per common share                        $0.24      $0.08
                                                                
Diluted weighted average shares outstanding         34,236,689  24,344,154
                                                                
                                                                
(1) Includes discontinued operations

^Arbor is presenting funds from operations, or FFO, because management
believes it to be an important supplemental measure of the Company's operating
performance in that it is frequently used by analysts, investors and other
parties in the evaluation of real estate investment trusts (REITs). The
revised White Paper on FFO approved by the Board of Governors of the National
Association of Real Estate Investment Trusts, or NAREIT, in April 2002 defines
FFO as net income (loss) attributable to Arbor Realty Trust, Inc. (computed in
accordance with generally accepted accounting principles (GAAP)), excluding
gains (losses) from sales of depreciated real properties, plus impairments of
depreciated real properties and real estate related depreciation and
amortization, and after adjustments for unconsolidated partnerships and joint
ventures. The Company considers gains and losses on the sales of undepreciated
real estate investments to be a normal part of its recurring operating
activities in accordance with GAAP and should not be excluded when calculating
FFO. Losses from discontinued operations are not excluded when calculating
FFO.

^FFO is not intended to be an indication of our cash flow from operating
activities (determined in accordance with GAAP) or a measure of our liquidity,
nor is it entirely indicative of funding our cash needs, including our ability
to make cash distributions. Arbor's calculation of FFO may be different from
the calculation used by other companies and, therefore, comparability may be
limited.

CONTACT: Arbor Realty Trust, Inc.
         Paul Elenio, Chief Financial Officer
         516-506-4422
         pelenio@arbor.com
        
         Media:
         Bonnie Habyan, EVP of Marketing
         516-506-4615
         bhabyan@arbor.com
        
         Investors:
         Stephanie Carrington
         The Ruth Group
         646-536-7017
         scarrington@theruthgroup.com
 
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