Approval of the proposal by The Goldman Sachs Group

The following press release was published by the Board of Governors of the Federal Reserve System on March 11, 2011. It is reproduced in full below.

The Federal Reserve Board on Friday announced its approval of the proposal by The Goldman Sachs Group, Inc., New York, New York, to retain 9.8 percent of the voting shares of Avenue Financial Holdings, Inc. ("Holdings") and indirectly retain voting shares of Holdings' wholly owned subsidiary bank, Avenue Bank, both of Nashville, Tennessee. Attached is the Board's Order relating to this action.

Source: Board of Governors of the Federal Reserve System