National Investment gets waiver on principal payments due on notes issued in 2005, 2006

By Sheri Kasprzak

New York, May 7 - National Investment Managers Inc. received a waiver on principal payments due on notes issued in March 2005, November 2005 and May 2006.

The company may now pay principal payments due May, June and July 2007 at maturity.

Laurus Master Fund, Ltd. purchased the three notes.

In exchange for the agreement, Laurus received a cash payment of $130,988.

The notes are due in two tranches with the first tranche bearing interest at 10% annually and the second at 7.5% annually. The notes are due 2010.

New York-based National Investment Managers acquires and manages entities that offer retirement plans and other financial services.

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