UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549


                                  SCHEDULE 13G


                    Under the Securities Exchange Act of 1934


                                  NEPHROS, INC.
                                ----------------
                                (Name of Issuer)


                     COMMON STOCK, PAR VALUE $.001 PER SHARE
                     ---------------------------------------
                         (Title of Class of Securities)



                                    640671103
                                 --------------
                                 (CUSIP Number)



                                DECEMBER 31, 2004
             -------------------------------------------------------
             (Date of Event which Requires Filing of this Statement)


Check the appropriate box to designate the rule pursuant to which this 
Schedule is filed.

      [_]   Rule 13d-1(b)
      [_]   Rule 13d-1(c)
      [X]   Rule 13d-1(d)


*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.

The information required on the reminder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).



CUSIP No. 640671103                  Schedule 13G                       Page 2
--------------------------------------------------------------------------------


1.    Name of Reporting Person
      S.S. or I.R.S. Identification No.:

      WPPN, LP
--------------------------------------------------------------------------------
2.    Check the Appropriate Box if a Member of a Group:              
                                                                     (a) [_]
                                                                     (b) [X]
--------------------------------------------------------------------------------
3.    SEC Use Only

--------------------------------------------------------------------------------
4.    Citizenship or Place of Organization: 

      Delaware
--------------------------------------------------------------------------------
                                5.   Sole Voting Power:         918,801
Number of                          
shares                         -------------------------------------------------
Beneficially                    6.   Shared Voting Power:       -0-
Owned By
Each                           -------------------------------------------------
Reporting                       7.   Sole Dispositive Power:    918,801
Person                         
With                           -------------------------------------------------
                                8.   Shared Dispositive Power:  -0-

--------------------------------------------------------------------------------
9.    Aggregate Amount Beneficially Owned by Each Reporting Person:

      918,801
--------------------------------------------------------------------------------
10.   Check Box if the Aggregate Amount in Row (9) Excludes Certain shares:

                                                                         [_]
--------------------------------------------------------------------------------
11.   Percent of Class Represented by Amount in Row (9): 

      7.58%
--------------------------------------------------------------------------------
12.   Type of Reporting Person: 

      PN
--------------------------------------------------------------------------------





CUSIP No. 640671103                  Schedule 13G                       Page 3
--------------------------------------------------------------------------------


1.    Name of Reporting Person
      S.S. or I.R.S. Identification No.:

      Cypress Management Partners, LLC
--------------------------------------------------------------------------------
2.    Check the Appropriate Box if a Member of a Group:              
                                                                     (a) [_]
                                                                     (b) [X]
--------------------------------------------------------------------------------
3.    SEC Use Only

--------------------------------------------------------------------------------
4.    Citizenship or Place of Organization: 

      Delaware
--------------------------------------------------------------------------------
                                5.   Sole Voting Power:         918,801
Number of                          
shares                         -------------------------------------------------
Beneficially                    6.   Shared Voting Power:       -0-
Owned By
Each                           -------------------------------------------------
Reporting                       7.   Sole Dispositive Power:    918,801
Person                         
With                           -------------------------------------------------
                                8.   Shared Dispositive Power:  -0-

--------------------------------------------------------------------------------
9.    Aggregate Amount Beneficially Owned by Each Reporting Person:

      918,801
--------------------------------------------------------------------------------
10.   Check Box if the Aggregate Amount in Row (9) Excludes Certain shares:

                                                                         [_]
--------------------------------------------------------------------------------
11.   Percent of Class Represented by Amount in Row (9): 

      7.58%
--------------------------------------------------------------------------------
12.   Type of Reporting Person: 

      OO
--------------------------------------------------------------------------------





CUSIP No. 640671103                  Schedule 13G                       Page 4
--------------------------------------------------------------------------------


1.    Name of Reporting Person
      S.S. or I.R.S. Identification No.:

      Cypress Capital Assets, LP
--------------------------------------------------------------------------------
2.    Check the Appropriate Box if a Member of a Group:              
                                                                     (a) [_]
                                                                     (b) [X]
--------------------------------------------------------------------------------
3.    SEC Use Only

--------------------------------------------------------------------------------
4.    Citizenship or Place of Organization: 

      Delaware
--------------------------------------------------------------------------------
                                5.   Sole Voting Power:         918,801
Number of                          
shares                         -------------------------------------------------
Beneficially                    6.   Shared Voting Power:       -0-
Owned By
Each                           -------------------------------------------------
Reporting                       7.   Sole Dispositive Power:    918,801
Person                         
With                           -------------------------------------------------
                                8.   Shared Dispositive Power:  -0-

--------------------------------------------------------------------------------
9.    Aggregate Amount Beneficially Owned by Each Reporting Person:

      918,801
--------------------------------------------------------------------------------
10.   Check Box if the Aggregate Amount in Row (9) Excludes Certain shares:

                                                                         [_]
--------------------------------------------------------------------------------
11.   Percent of Class Represented by Amount in Row (9): 

      7.58%
--------------------------------------------------------------------------------
12.   Type of Reporting Person: 

      PN
--------------------------------------------------------------------------------





CUSIP No. 640671103                  Schedule 13G                       Page 5
--------------------------------------------------------------------------------


1.    Name of Reporting Person
      S.S. or I.R.S. Identification No.:

      Cypress Capital Advisors, LLC
--------------------------------------------------------------------------------
2.    Check the Appropriate Box if a Member of a Group:              
                                                                     (a) [_]
                                                                     (b) [X]
--------------------------------------------------------------------------------
3.    SEC Use Only

--------------------------------------------------------------------------------
4.    Citizenship or Place of Organization: 

      Delaware
--------------------------------------------------------------------------------
                                5.   Sole Voting Power:         918,801
Number of                          
shares                         -------------------------------------------------
Beneficially                    6.   Shared Voting Power:       -0-
Owned By
Each                           -------------------------------------------------
Reporting                       7.   Sole Dispositive Power:    918,801
Person                         
With                           -------------------------------------------------
                                8.   Shared Dispositive Power:  -0-

--------------------------------------------------------------------------------
9.    Aggregate Amount Beneficially Owned by Each Reporting Person:

      918,801
--------------------------------------------------------------------------------
10.   Check Box if the Aggregate Amount in Row (9) Excludes Certain shares:

                                                                         [_]
--------------------------------------------------------------------------------
11.   Percent of Class Represented by Amount in Row (9): 

      7.58%
--------------------------------------------------------------------------------
12.   Type of Reporting Person: 

      OO
--------------------------------------------------------------------------------





CUSIP No. 640671103                  Schedule 13G                       Page 6
--------------------------------------------------------------------------------


1.    Name of Reporting Person
      S.S. or I.R.S. Identification No.:

      Wasserstein SBIC Ventures II, LP
--------------------------------------------------------------------------------
2.    Check the Appropriate Box if a Member of a Group:              
                                                                     (a) [_]
                                                                     (b) [X]
--------------------------------------------------------------------------------
3.    SEC Use Only

--------------------------------------------------------------------------------
4.    Citizenship or Place of Organization: 

      Delaware
--------------------------------------------------------------------------------
                                5.   Sole Voting Power:         829,104
Number of                          
shares                         -------------------------------------------------
Beneficially                    6.   Shared Voting Power:       -0-
Owned By
Each                           -------------------------------------------------
Reporting                       7.   Sole Dispositive Power:    829,104
Person                         
With                           -------------------------------------------------
                                8.   Shared Dispositive Power:  -0-

--------------------------------------------------------------------------------
9.    Aggregate Amount Beneficially Owned by Each Reporting Person:

      829,104
--------------------------------------------------------------------------------
10.   Check Box if the Aggregate Amount in Row (9) Excludes Certain shares:

                                                                         [_]
--------------------------------------------------------------------------------
11.   Percent of Class Represented by Amount in Row (9): 

      6.84%
--------------------------------------------------------------------------------
12.   Type of Reporting Person: 

      PN
--------------------------------------------------------------------------------



CUSIP No. 640671103                  Schedule 13G                       Page 7
--------------------------------------------------------------------------------


1.    Name of Reporting Person
      S.S. or I.R.S. Identification No.:

      Wasserstein Levered Venture Partners II, LLC
--------------------------------------------------------------------------------
2.    Check the Appropriate Box if a Member of a Group:              
                                                                     (a) [_]
                                                                     (b) [X]
--------------------------------------------------------------------------------
3.    SEC Use Only

--------------------------------------------------------------------------------
4.    Citizenship or Place of Organization: 

      [Delaware]
--------------------------------------------------------------------------------
                                5.   Sole Voting Power:         829,104
Number of                          
shares                         -------------------------------------------------
Beneficially                    6.   Shared Voting Power:       -0-
Owned By
Each                           -------------------------------------------------
Reporting                       7.   Sole Dispositive Power:    829,104
Person                         
With                           -------------------------------------------------
                                8.   Shared Dispositive Power:  -0-

--------------------------------------------------------------------------------
9.    Aggregate Amount Beneficially Owned by Each Reporting Person:

      829,104
--------------------------------------------------------------------------------
10.   Check Box if the Aggregate Amount in Row (9) Excludes Certain shares:

                                                                         [_]
--------------------------------------------------------------------------------
11.   Percent of Class Represented by Amount in Row (9): 

      6.84%
--------------------------------------------------------------------------------
12.   Type of Reporting Person: 

      OO
--------------------------------------------------------------------------------



CUSIP No. 640671103                  Schedule 13G                       Page 8
--------------------------------------------------------------------------------


1.    Name of Reporting Person
      S.S. or I.R.S. Identification No.:

      Wasserstein Investments LLC
--------------------------------------------------------------------------------
2.    Check the Appropriate Box if a Member of a Group:              
                                                                     (a) [_]
                                                                     (b) [X]
--------------------------------------------------------------------------------
3.    SEC Use Only

--------------------------------------------------------------------------------
4.    Citizenship or Place of Organization: 

      Delaware
--------------------------------------------------------------------------------
                                5.   Sole Voting Power:         834,492
Number of                          
shares                         -------------------------------------------------
Beneficially                    6.   Shared Voting Power:       -0-
Owned By
Each                           -------------------------------------------------
Reporting                       7.   Sole Dispositive Power:    834,492
Person                         
With                           -------------------------------------------------
                                8.   Shared Dispositive Power:  -0-

--------------------------------------------------------------------------------
9.    Aggregate Amount Beneficially Owned by Each Reporting Person:

      834,492
--------------------------------------------------------------------------------
10.   Check Box if the Aggregate Amount in Row (9) Excludes Certain shares:

                                                                         [_]
--------------------------------------------------------------------------------
11.   Percent of Class Represented by Amount in Row (9): 

      6.88%
--------------------------------------------------------------------------------
12.   Type of Reporting Person: 

      OO
--------------------------------------------------------------------------------



CUSIP No. 640671103                  Schedule 13G                       Page 9
--------------------------------------------------------------------------------


1.    Name of Reporting Person
      S.S. or I.R.S. Identification No.:

      Wasserstein Holdings, LLC
--------------------------------------------------------------------------------
2.    Check the Appropriate Box if a Member of a Group:              
                                                                     (a) [_]
                                                                     (b) [X]
--------------------------------------------------------------------------------
3.    SEC Use Only

--------------------------------------------------------------------------------
4.    Citizenship or Place of Organization: 

      Delaware
--------------------------------------------------------------------------------
                                5.   Sole Voting Power:         834,492
Number of                          
shares                         -------------------------------------------------
Beneficially                    6.   Shared Voting Power:       -0-
Owned By
Each                           -------------------------------------------------
Reporting                       7.   Sole Dispositive Power:    834,492
Person                         
With                           -------------------------------------------------
                                8.   Shared Dispositive Power:  -0-

--------------------------------------------------------------------------------
9.    Aggregate Amount Beneficially Owned by Each Reporting Person:

      834,492
--------------------------------------------------------------------------------
10.   Check Box if the Aggregate Amount in Row (9) Excludes Certain shares:

                                                                         [_]
--------------------------------------------------------------------------------
11.   Percent of Class Represented by Amount in Row (9): 

      6.88%
--------------------------------------------------------------------------------
12.   Type of Reporting Person: 

      OO
--------------------------------------------------------------------------------





CUSIP No. 640671103                  Schedule 13G                       Page 10
--------------------------------------------------------------------------------


1.    Name of Reporting Person
      S.S. or I.R.S. Identification No.:

      Bruce Wasserstein
--------------------------------------------------------------------------------
2.    Check the Appropriate Box if a Member of a Group:              
                                                                     (a) [_]
                                                                     (b) [X]
--------------------------------------------------------------------------------
3.    SEC Use Only

--------------------------------------------------------------------------------
4.    Citizenship or Place of Organization: 

      United States
--------------------------------------------------------------------------------
                                5.   Sole Voting Power:         1,928,564
Number of                          
shares                         -------------------------------------------------
Beneficially                    6.   Shared Voting Power:       -0-
Owned By
Each                           -------------------------------------------------
Reporting                       7.   Sole Dispositive Power:    1,928,564
Person                         
With                           -------------------------------------------------
                                8.   Shared Dispositive Power:  -0-

--------------------------------------------------------------------------------
9.    Aggregate Amount Beneficially Owned by Each Reporting Person:

      1,928,564
--------------------------------------------------------------------------------
10.   Check Box if the Aggregate Amount in Row (9) Excludes Certain shares:

                                                                         [_]
--------------------------------------------------------------------------------
11.   Percent of Class Represented by Amount in Row (9): 

      15.91%
--------------------------------------------------------------------------------
12.   Type of Reporting Person: 

      IN
--------------------------------------------------------------------------------



CUSIP No. 640671103                Schedule 13G                         Page 11
--------------------------------------------------------------------------------


                                   SCHEDULE 13G

                  This Schedule 13G is filed by the undersigned with respect to
the shares of common stock, par value $.001 per share (the "Common Stock"), of
Nephros, Inc. (the "Company").

Item 1.             (a)      NAME OF ISSUER

                    Nephros, Inc.

                    (b)      ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES

                    3960 Broadway
                    New York, New York  10032

Item 2.             (a)      NAMES OF PERSONS FILING

                    WPPN, LP ("WPPN");
                    Cypress Management Partners, LLC ("CMP"); 
                    Cypress Capital Assets, L.P. ("CCA");
                    Cypress Capital Advisors, LLC ("CC Advisors"); 
                    Wasserstein SBIC Ventures II, LP ("WV SBIC");
                    Wasserstein Levered Venture Partners II, LLC ("Levered");
                    Wasserstein Investments LLC ("WI"); 
                    Wasserstein Holdings, LLC ("WH"); and
                    Bruce Wasserstein ("BW") and, together with WPPN, CMP, CCA,
                    CC Advisors, WV SBIC, Levered, WI, and WH, the "Reporting
                    Persons".

                    The Reporting Persons are making this single, joint filing
                    because they may be deemed to constitute a "group" within
                    the meaning of Section 13(d)(3) of the Act, although neither
                    the fact of this filing nor anything contained herein shall
                    be deemed to be an admission by the Reporting Persons that
                    such a group exists.

                    (b)      ADDRESS OF PRINCIPAL BUSINESS OFFICE

                    1301 Avenue of the Americas
                    New York, NY  10019

                    (c)      CITIZENSHIP

                    WPPN - Delaware 
                    CMP - Delaware 
                    CCA - Delaware 
                    CC Advisors - Delaware 



CUSIP No. 640671103                Schedule 13G                         Page 12
--------------------------------------------------------------------------------


                    WV SBIC - Delaware 
                    Levered - Delaware 
                    WI - Delaware
                    WH - Delaware 
                    BW - United States

                    (d)      TITLE OF CLASS OF SECURITIES

                    Common Stock, par value $.001 per share (the "Common Stock")

                    (e)      CUSIP NUMBER

                    640671103

Item 3.             This Schedule 13G Statement is not being filed pursuant to
                    Rule 13d-1(b) or Rule 13d-2(b) or (c).

Item 4.             (a) - (b)

                    WPPN

                    WPPN beneficially owns an aggregate of 918,801 shares of
                    Common Stock, which represents approximately 7.58% of the
                    issued and outstanding shares of Common Stock.

                    CMP

                    As the general partner of WPPN, CMP beneficially owns an
                    aggregate of 918,801 shares of Common Stock, which
                    represents approximately 7.58% of the issued and outstanding
                    shares of Common Stock.

                    CCA

                    As the sole member of CMP, CCA beneficially owns an
                    aggregate of 918,801 shares of Common Stock, which
                    represents approximately 7.58% of the issued and outstanding
                    shares of Common Stock.

                    CC Advisors

                    As the general partner of CCA, CC Advisors may be deemed to
                    beneficially own an aggregate of 918,801 shares of Common
                    Stock, which represents approximately 7.58% of the issued
                    and outstanding shares of Common Stock.



CUSIP No. 640671103                Schedule 13G                         Page 13
--------------------------------------------------------------------------------


                    WV SBIC

                    WV SBIC beneficially owns an aggregate of 829,104 shares of
                    Common Stock, which represents approximately 6.84% of the
                    issued and outstanding shares of Common Stock.

                    Levered

                    As the general partner of WV SBIC, Levered beneficially owns
                    an aggregate of 829,104 shares of Common Stock, which
                    represents approximately 6.84% of the issued and outstanding
                    shares of Common Stock.

                    WI

                    As the sole member of Levered and the controlling person of
                    Wasserstein & Co., L.P., WI beneficially owns an aggregate
                    of 834,492 shares of Common Stock consisting of 829,104
                    shares held by WV SBIC and 5,388 shares held by WV II
                    Employee Partnership, LLC, the managing member of which is
                    Wasserstein & Co., L.P. This represents approximately 6.88%
                    of the issued and outstanding shares of Common Stock.

                    WH

                    As the sole member of WI, WH beneficially owns an aggregate
                    of 834,492 shares of Common Stock, which represents
                    approximately 6.88% of the issued and outstanding shares of
                    Common Stock.

                    BW

                    Because he may be deemed to control CC Advisors, WH and BW
                    Employee Holdings, LLC, BW may be deemed to beneficially own
                    1,928,564 shares of Common Stock, consisting of (i) 918,801
                    shares directly held by WPPN, (ii) 829,104 shares directly
                    held by WV SBIC, (III) 5,388 shares held directly by WV
                    Employee Partnership, LLC and (iv) 175,271 shares held
                    directly by BW Employee Holdings, LLC. This represents
                    15.91% of the issued and outstanding shares of Common Stock.
                    BW disclaims beneficial ownership of these shares except for
                    his pecuniary interest in 29,446 shares.

                    (c)

                    WPPN

                    WPPN has the sole power to vote or direct the vote of
                    918,801 shares of Common Stock and the sole power to dispose
                    or to direct the disposition of 918,801 shares of Common
                    Stock.




CUSIP No. 640671103                Schedule 13G                         Page 14
--------------------------------------------------------------------------------


                    CMP

                    As the general partner of WPPN, CMP has the sole power to
                    vote or direct the vote of 918,801 shares of Common Stock
                    and the sole power to dispose or to direct the disposition
                    of 918,801 shares of Common Stock.

                    CCA

                    As the sole member of CMP, CCA, has the sole power to vote
                    or direct the vote of 918,801 shares of Common Stock and the
                    sole power to dispose or to direct the disposition of
                    918,801 shares of Common Stock.

                    CC Advisors

                    As the general partner of CCA Assets, CC Advisors has the
                    sole power to vote or direct the vote of 918,801 shares of
                    Common Stock and the sole power to dispose or to direct the
                    disposition of 918,801 shares of Common Stock.

                    WV SBIC

                    WV SBIC has the sole power to vote or direct the vote of
                    829,104 shares of Common Stock and the sole power to dispose
                    of to direct the disposition of 829,104 shares of Common
                    Stock.

                    Levered

                    As the general partner of WV SBIC, Levered has the sole
                    power to vote or direct the vote of 829,104 shares of Common
                    Stock and the sole power to dispose or to direct the
                    disposition of 829,104 shares of Common Stock.

                    WI

                    As the sole member of Levered and the controlling person of
                    Wasserstein & Co., L.P. WI has the sole power to vote or
                    direct the vote of 834,492 shares of Common Stock and the
                    sole power to dispose or to direct the disposition of
                    834,492 shares of Common Stock.

                    WH

                    As the sole member of WI, WH has the sole power to vote or
                    direct the vote of 834,492 shares of Common Stock and the
                    sole power to dispose or direct the disposition of 834,492
                    shares of Common Stock.



CUSIP No. 640671103                Schedule 13G                         Page 15
--------------------------------------------------------------------------------


                    BW

                    Because he may be deemed to control CC Advisors, WH and BW
                    Employee Holdings, LLC, BW may be deemed to have sole power
                    to vote or direct the vote of 1,928,564 shares of Common
                    Stock and the sole power to dispose or direct the
                    disposition of 1,928,564 shares of Common Stock. BW
                    disclaims beneficial ownership of these shares except for
                    his pecuniary interest in 29,446 shares.


Item 5.             OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

                    Not applicable.

Item 6.             OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER
                    PERSON

                    Not applicable.

Item 7.             IDENTIFICATION AND CLASSIFICATION OF SUBSIDIARY WHICH
                    ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT
                    HOLDING COMPANY

                    Not applicable.

Item 8.             IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP

                    Not applicable.

Item 9.             NOTICE OF DISSOLUTION OF GROUP

                    Not applicable.

Item 10.            CERTIFICATION

                    Not applicable.




CUSIP No. 640671103               Schedule 13G                         Page 16
--------------------------------------------------------------------------------



                                   SIGNATURES

         After reasonable inquiry and to the best of our knowledge and belief,
we certify that the information set forth in this statement is true, complete
and correct.

Dated as of February 11, 2005

                              WPPN, L.P.

                              By:  Cypress Management Partners, LLC
                                   its General Partner

                                   By:  Cypress Capital Assets, LP
                                        its Sole Member

                                   By:  Cypress Capital Advisors, LLC
                                        its General Partner


                                        By: /s/ Robert Mersten
                                            ---------------------------------
                                            Name:  Robert Mersten
                                            Title: Vice President and Secretary


                              CYPRESS MANAGEMENT PARTNERS, LLC

                              By:  Cypress Capital Assets, LP
                                   its Sole Member

                                   By:  Cypress Capital Advisors, LLC
                                        its General Partner


                                        By: /s/ Robert Mersten
                                            ---------------------------------
                                            Name:  Robert Mersten
                                            Title: Vice President and Secretary


                              CYPRESS CAPITAL ASSETS, LP

                              By:  Cypress Capital Advisors, LLC
                                   its General Partner


                                        By: /s/ Robert Mersten
                                            ---------------------------------
                                            Name:  Robert Mersten
                                            Title: Vice President and Secretary



CUSIP No. 640671103               Schedule 13G                         Page 17
--------------------------------------------------------------------------------



                              CYPRESS CAPITAL ADVISORS, LLC


                                        By: /s/ Robert Mersten
                                            ---------------------------------
                                            Name:  Robert Mersten
                                            Title: Vice President and Secretary


                              WASSERSTEIN SBIC VENTURES II, LP

                                   By:  Wasserstein Levered Venture 
                                        Partners II, LLC
                                        its General Partner

                                   By:  Wasserstein Investments, LLC
                                          its Sole Member

                                   By:  Wasserstein Holdings, LLC
                                          its Sole Member

                                        By: /s/ Townsend Ziebold
                                            ---------------------------------
                                            Name:  Townsend Ziebold
                                            Title: President


                              WASSERSTEIN LEVERED VENTURE PARTNERS II, LLC

                              By:  Wasserstein Investments, LLC
                                   its Sole Member

                              By:  Wasserstein Holdings, LLC
                                   its Sole Member

                                        By: /s/ Townsend Ziebold
                                            ---------------------------------
                                            Name:  Townsend Ziebold
                                            Title: President




CUSIP No. 640671103               Schedule 13G                         Page 18
--------------------------------------------------------------------------------



                           WASSERSTEIN INVESTMENTS, LLC

                                By:  Wasserstein Holdings, LLC
                                       its Sole Member

                                     By: /s/ Robert Mersten
                                         ---------------------------------
                                         Name:  Robert Mersten
                                         Title: Vice President and Secretary


                           WASSERSTEIN HOLDINGS, LLC


                                     By: /s/ Robert Mersten
                                         ---------------------------------
                                         Name:  Robert Mersten
                                         Title: Vice President and Secretary




                           * /s/ Townsend Ziebold
                           -----------------------
                           W. Townsend Ziebold, Jr. for Bruce Wasserstein*


                           *  Pursuant to a Power of Attorney filed 
                              herewith as Exhibit 2.