Goldman Sachs Statement On Proposed Capital Actions

The Goldman Sachs Group, Inc. (NYSE: GS) today announced that the Federal Reserve did not object to Goldman Sachs’ proposed capital actions, but, as required by the Federal Reserve, the company will resubmit its capital plan by the end of the third quarter, incorporating certain enhancements to its stress test processes.

“We are pleased to continue to have the flexibility to return capital to shareholders,” said Chairman and Chief Executive Officer, Lloyd Blankfein.

The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.

Copyright Business Wire 2010

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