ICV CAPITAL PARTNERS ADDS TO TEAM

Investment Firm Hires Lloyd M. Metz

NEW YORK, May 16, 2002 -- ICV Capital Partners, LLC, a New York-based private equity investment firm, announced today that Lloyd M. Metz has joined the firm as a principal.

Metz joins ICV after three years at Warburg Pincus where he was an investment professional. He was involved in investments in several industries and across all stages of corporate development, from venture financings to acquisitions and going-private transactions. While at Warburg, he also served as a director of several private and public companies.

Prior to Warburg, Metz was in the High Yield Capital Markets group at Morgan Stanley and worked in the equity capital markets and mergers and acquisitions groups at J.P. Morgan.

At ICV, Metz will help to identify opportunities in the media and business services industries as well as bolster the firm’s existing food and manufacturing focus.

“Lloyd is an excellent addition to our team and will be a valuable contributor in expanding our deal flow reach,” said Willie Woods, ICV’s managing director. “We have known Lloyd for more than eight years and feel very fortunate to have him as part of our group.”

Metz received a bachelor’s degree in industrial engineering from Stanford University and an MBA from the Harvard Business School.

ICV closed its first fund in April 2001 with $130 million of committed capital and acquired Sterling Foods, Inc., a leader in shelf-stable bakery products for the military and commercial markets, in September 2001.

ICV focuses on investing in small-to-middle-market companies that have strong, defensible market positions and growth potential where “buy-and-build” and other value enhancement opportunities exist. It is particularly interested in companies doing business in America’s top 25 metropolitan cities and/or focused on the urban market place.

Its four-person investment committee, which includes Harvard Business School Professor Michael E. Porter, has in excess of 60 years of experience advising middle-market companies and sponsoring companies in their growth and development.

ICV Capital Partners intends to make investments of $5 million to $30 million of equity capital in companies with annual revenues generally ranging between $25 million and $150 million. Industries in which ICV is interested include business services, consumer products and services, food processing, healthcare, industrial manufacturers and media.