X0202 5 2005-06-30 0 0 0 0001262279 FIRST MARBLEHEAD CORP FMD 0000905366 ALEXANDER LESLIE L C/O THE FIRST MARBLEHEAD CORPORATION, 800 BOYLSTON STREET, 34TH FLOOR BOSTON MA 02199 1 0 1 0 Common Stock 2005-05-15 5 G 0 2529969 D 0 I By the Alexander 2003 Investment Trust Common Stock 2005-05-15 5 G 0 2529969 A 2529969 I By the Alexander 2003 Family Trust Common Stock 12770031 D On May 15, 2005, The Alexander 2003 Investment Trust, a grantor retained annuity trust of which the reporting person was settlor and a beneficiary, terminated, resulting in a distribution of the trust's remaining assets, after satisfaction of liabilities, to the remainder beneficiaries of the trust for no consideration. The transaction reported is the gift that may be deemed for purposes of Section 16 to have resulted from the distribution to the remainder beneficiaries other than the reporting person. The distribution was made to each distributee among the various assets held by the trust in proportion to the values of the trust assets. To the extent the reporting person's beneficial ownership was affected other than a result of the gift that may be deemed to have occurred, the transaction was exempt under Rude 16a-13. The gift that may be deemed to have occurred as a result of the termination of the trust described in footnote (1) was to The Alexander 2003 Family Trust, a trust for the benefit of the reporting person's adult daughter. Of these shares, 12,089,290 were previously reported as owned by the Alexander 2003 Investment Trust and were transferred to the reporting person on May 15, 2005 in transactions exempt under Rule 16a-13. /s/ Donald R. Peck, by power of attorney 2005-08-15