Penguins leaving the pole: bound-state effects in B decaying to K* +   photon
  Applying perturbative QCD methods recently seen to give a good description of the two body hadronic decays of the B meson, we address the question of bound-state effects on the decay B into K* + gamma. Consistent with most analyses, we demonstrate that gluonic penguins, with photonic bremsstrahlung off a quark, change the decay rate by only a few percent. However, explicit off-shell b-quark effects normally discarded are found to be large in amplitude, although in the standard model accidents of phase minimize the effect on the rate. Using an asymptotic distribution amplitude for the K* and just the standard model, we can obtain a branching ratio of a few times 10^{-5}, consistent with the observed rate. 
C. E. Carlson and J. Milana