X0202 4 2007-10-03 0 0001397821 Duff & Phelps Corp DUF 0001407188 Levy Sander M. C/O VESTAR CAPITAL PARTNERS IV, L.P. 245 PARK AVENUE, 41ST FLOOR NEW YORK NY 10167 1 0 0 0 Duff & Phelps Acquisitions, LLC New Class A Units 2007-10-03 4 A 0 6583021 A Class A common stock 6583021 6583021 D Pursuant to an exchange agreement entered into in connection with the closing of the initial public offering of Duff & Phelps Corporation (the "IPO"), holders of New Class A Units of Duff & Phelps Acquisitions, LLC ("DPA") issued in connection with the reorganization of DPA immediately prior to the consummation of the IPO (the "Reorganization") may exchange their New Class A Units for Class A common stock of Duff & Phelps Corporation on a one-for-one basis up to four times each year, subject to the vesting, minimum retained ownership requirements and transfer restrictions and customary conversion rate adjustments for splits, unit distributions and reclassifications contained in the exchange agreement. Notwithstanding the foregoing, no New Class A Units issued in the Reorganization may be exchanged for Class A common stock at any time prior to March 31, 2008, other than as set forth in the exchange agreement. Beneficially owned by Vestar Capital Partners IV, L.P. and Vestar/D&P Holdings, LLC. The address of Vestar Capital Partners IV, L.P. and Vestar/D&P Holdings, LLC is 245 Park Avenue, 41st Floor, New York, NY 10167. As an officer of Vestar Capital Partners IV, L.P. and Vestar/D&P Holdings, LLC, Mr. Levy may be deemed to share beneficial ownership of the shares held respectively by Vestar Capital Partners IV, L.P. and Vestar/D&P Holdings, LLC. Mr. Levy disclaims beneficial ownership of such shares and any other shares held by affiliates of Vestar Capital Partners except to the extent of his beneficial ownership thereof. /s/ Jacob Silverman as Attorney-in-Fact for Sander Levy 2007-10-05