HYPERION COLLATERALIZED SECURITIES FUND, INC. Three World Financial Center, 200 Vesey Street, 10th Floor New York, NY 10281-1010 OFFER TO PURCHASE FOR CASH 2,062,868 OF ITS ISSUED AND OUTSTANDING SHARES AT NET ASSET VALUE PER SHARE SUMMARY TERM SHEET...Offer to Purchase • June 30th, 2006 • Hyperion Collateralized Securities Fund Inc
