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January 23, 2008

Fox Paine Management III, LLC Changes Name to Paine & Partners, LLC; Promotions Announced

Foster City, CA and New York, NY

Fox Paine Management III, LLC today announced that it has changed its name and will operate as Paine & Partners, LLC, effective immediately.

Paine & Partners is a private equity firm focused on management buyouts, public-to-private transactions and growth capital investments. The firm will continue its investment strategy of focusing on investing in special situations where addressing complexity and solving problems creates unique and proprietary investments, a strategy successfully pursued for more than 10 years.

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