Summary of ALTERNATIVE ASSET MANAGEMENT ACQUISITION CORP.

Item 8.01. Other Information.

On June 29, 2009, Alternative Asset Management Acquisition Corp. ("AAMAC") announced that its special meeting of warrantholders will be held on July 28, 2009 at 10:00 a.m. eastern time and will be immediately followed by the special meeting of stockholders at 10:30 a.m. eastern time (collectively, the "Special Meeting"), each at the offices of Ellenoff Grossman & Schole LLP, AAMAC's counsel, at 150 East 42nd Street, 11th Floor, New York, NY 10017.

Warrantholders of record as of July 8, 2009 will be invited to attend the special meeting of warrantholders to vote on the following proposals: (i) to amend the terms of the warrant agreement governing the AAMAC warrants exercisable for shares of AAMAC common stock in order to permit the redemption of all of the outstanding AAMAC warrants, including those held by AAMAC's sponsors, at a price of $0.50 per warrant in connection with the Acquisition (as defined below) and (ii) to approve a proposal to adjourn the Special Meeting to a later date or dates, if necessary, to permit further solicitation and vote of proxies.

Stockholders of record as of July 8, 2009 will be invited to attend the special meeting of stockholders and to vote on the following proposals: (i) to approve an amendment to AAMAC's amended and restated certificate of incorporation to modify the definition of "business combination," (ii) to adopt the Agreement and Plan of Reorganization, dated as of May 14, 2009, as amended, by and among AAMAC, Great American Group, Inc. (the "Company"), a wholly-owned subsidiary of AAMAC, AAMAC Merger Sub, Inc. ("Merger Sub"), a wholly-owned subsidiary of the Company, Great American Group, LLC ("Great American"), the members of Great American (the "Members") and the Member Representative, and to approve the transactions contemplated thereby pursuant to which: (a) AAMAC will merge with and into Merger Sub and will survive the merger and (b) the Members will simultaneously contribute their membership interests in Great American to AAMAC (the "Acquisition"), (iii) to approve certain material provisions of the Company's certificate of incorporation that are not included in AAMAC's amended and restated certificate of incorporation, (iv) to approve the 2009 Stock Incentive Plan which will be assumed by the Company in connection with the Acquisition and (v) to approve a proposal to adjourn the Special Meeting to a later date or dates, if necessary, to permit further solicitation and vote of proxies.

A copy of AAMAC's press release announcing the record date and the date of the special meetings is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The information furnished under this Item, including the exhibit related thereto, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any disclosure document of AAMAC, except as shall be expressly set forth by specific reference in such document.