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March 23, 2009

Phoenix Capital Resources Energizes Business with New Hire

Glenn Bernabeo Joins Phoenix Capital Resources as Director


CONTACT: Vince Colistra

PHILADELPHIA (March 24, 2009) —- In a move to strengthen and meet its growing client needs, Phoenix Capital Resources has recently hired industry veteran Glenn S. Bernabeo as a Director.

Mr. Bernabeo will be responsible for working with Phoenix Capital’s clients in complex transactions, including restructurings and recapitalizations, re-financings, capital raisings for all levels of the balance sheet including senior, second lien and subordinated debt as well as equity (through PM Securities), advisory services as they relate to the sale, merger or acquisition of a business, and restructurings and sales in the context of a bankruptcy proceeding.

“I am really excited about Glenn joining our firm as he is a proven track record of getting deals done” said Phoenix Capital Resources Managing Director and Shareholder Vince Colistra. “Given his past hands-on experience, Glenn will be able to hit the ground running in leading a variety of transactions we currently are working on and to support the increased activity we are experiencing.”

Glenn Bernabeo brings significant transactional experience to our investment banking platform including M&A advisory experience (both in and outside of Chapter 11), Complex Restructurings, Note Sales, Debt-to-Equity conversions, UCC Article 9 – Simultaneous Foreclosures and Sales, and MBO’s. Glenn has completed over 30 investment banking transactions in a variety of industries including successful transactions with leading companies such as Cannondale Bicycles, Baldwin Piano and Organ Company, Ped’s Brand hosiery (Americal Corporation), and DuoTang Brand Folders (Centis, Inc.).

Prior to joining Phoenix Capital Resources, Glenn was a Partner and Director with the Philadelphia based investment banking firm SSG Capital Advisors, L.P., and Berwind Financial Group. Glenn was also a lender with PNC Bank’s Corporate Banking Division’s Middle Market Group, where he participated in a number of complex transactions including loan syndications, leveraged acquisitions and recapitalizations, and has also made direct principal investments in operating companies. This depth of experience with middle market companies brings a broad perspective to the firm’s investment banking clients.

Mr. Bernabeo earned his Masters of Business Administration and Finance from Penn State University and a Bachelor of Science from Bucknell University. He earned his Chartered Financial Analyst (CFA) designation in 2000. Mr. Bernabeo has obtained his Series 7, Series 24 and Series 63 licenses.

About Phoenix Capital Resources

Phoenix Capital Resources specializes in providing capital advisory services to middle market companies in transition. As an operationally focused firm, Phoenix Capital assists distressed and growth-oriented companies with complex transactions including re-financings, restructurings, capital raising, mergers and acquisitions, recapitalizations and auctions in the context of a bankruptcy. Headquartered in Philadelphia, Phoenix Capital’s mission is to maximize transactional value and return on investment for its clients.

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