X0202 3 2007-07-01 0 0001391975 EXCELSIOR DIRECTIONAL HEDGE FUND OF FUNDS (TE) LLC NONE 0001014768 NB HOLDINGS CORP 100 NORTH TRYON STREET CHARLOTTE NC 28255 0 0 0 1 Ult. Parent of Inv. Adviser Limited Liability Company Interest 0 I See Footnote This filing is made on behalf of NB Holdings Corporation, the ultimate parent of U.S. Trust Hedge Fund Management, Inc., which serves as the investment adviser of Excelsior Directional Hedge Fund of Funds Master Fund, LLC (the "Master Fund") and provides management and administrative services to the Issuer. The Issuer invests substantially all of its assets in Excelsior Directional Hedge Fund of Funds, Ltd. (the "Offshore Fund"). The Offshore Fund, in turn, invests substantially all of its assets in the Master Fund. The filing of this statement with the inclusion of the foregoing information shall not be deemed an admission that the Reporting Person is, for purposes of Section 16 of the Act or otherwise, the beneficial owner of any equity securities covered by this statement. Lucille E. Reymann, Senior Vice President 2007-07-12