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August 17, 2006

New Senior Associate Named at Phoenix Capital Resources

PHILADELPHIA (August 17, 2006)—Phoenix Capital Resources, a division of turnaround management firm Phoenix Management Services (www.phoenixmanagement.com), has promoted Mark Karbiner from Associate to Senior Associate. Mr. Karbiner joined Phoenix in 2003, and his new role recognizes his performance and versatility over the past three years.

“Mark continues to be a valuable asset of Phoenix Capital Resources, and his promotion affords him more responsibility in future client assignments,”┬Ł said Vincent J. Colistra, Managing Director and Shareholder.

Prior to joining Phoenix, Mr. Karbiner was an analyst in the Investment Banking Group of Fleet Securities in Philadelphia and worked as an analyst for the boutique investment bank Howard, Lawson & Co. located in Philadelphia.

About Phoenix Capital Resources

Phoenix Capital Resources, a division of Phoenix Management Services, specializes in providing investment banking services to middle market companies in transition. Phoenix Management Services is an operationally-focused advisory firm, providing turnaround, crisis and interim management to middle market clients. Since 1985, Phoenix has aggressively advocated on behalf of its clients in over 700 assignments nationwide across a variety of situations and industries. With offices in Philadelphia, New York, Boston and Ft. Lauderdale, Phoenix preserves and enhances the value of its clients’ companies by focusing on the operational and financial challenges they encounter.

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