Common Contracts

Citigroup Global Markets Inc. 388 Greenwich Street New York, New York 10013 Re: Bank Street Telecom Funding Corp. Initial Public Offering Ladies and Gentlemen:

Underwriting Agreement • June 2nd, 2006 • Bank Street Telecom Funding Corp. • Blank checks

• Contract Type
  Underwriting Agreement
• Filed
  June 2nd, 2006
• Company
  Bank Street Telecom Funding Corp.
• Industry
  Blank checks

This letter is being delivered to you in accordance with the Underwriting Agreement (the ‘‘Underwriting Agreement’’) between Bank Street Telecom Funding Corp., a Delaware corporation (the ‘‘Company’’), and Citigroup Global Markets Inc. (the ‘‘Underwriter’’) relating to an underwritten initial public offering (the ‘‘IPO’’) of the Company's units (the ‘‘Units’’), each comprised of one share of the Company's common stock, par value $0.0001 per share (the ‘‘Common Stock’’), and one warrant, each of which is exercisable for one share of Common Stock (each, a ‘‘Warrant’’).

Citigroup Global Markets Inc. 388 Greenwich Street New York, New York 10013 Re: Bank Street Telecom Funding Corp. Initial Public Offering Ladies and Gentlemen:

Underwriting Agreement • April 17th, 2006 • Bank Street Telecom Funding Corp. • Blank checks

• Contract Type
  Underwriting Agreement
• Filed
  April 17th, 2006
• Company
  Bank Street Telecom Funding Corp.
• Industry
  Blank checks

This letter is being delivered to you in accordance with the Underwriting Agreement (the "Underwriting Agreement") between Bank Street Telecom Funding Corp., a Delaware corporation (the "Company"), and Citigroup Global Markets Inc. (the "Underwriter") relating to an underwritten initial public offering (the "IPO") of the Company's units (the "Units"), each comprised of one share of the Company's common stock, par value $0.0001 per share (the "Common Stock"), and one warrant, each of which is exercisable for one share of Common Stock (each, a "Warrant").