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October 22, 2008

Phoenix Opens A New Office in Washington DC

Industry Veteran Charles Menatti to Lead Office

Washington, DC (October 22, 2008) ” Phoenix Management Services and Phoenix Capital Resources announced that Charles Menatti has joined the firm to open and oversee its new office in Washington DC. The new office will serve the Virginia, Maryland and Washington DC markets.

“Phoenix is aggressively expanding into high-growth markets,” explained Jim Fleet, Managing Director and Shareholder. “Our growing national footprint, combined with our exceptional new hires, will provide the foundation for future growth for our turnaround management and investment banking services.”

In his new position as Director, Mr. Menatti will manage the new office in Washington DC. He has more than 29 years of financial, operations and executive management experience. Prior to joining Phoenix, Menatti was serving as the first ever Chief Operating Officer at Mount Vernon, the large non-profit historic estate of George Washington. Mr. Menatti also has a vast depth of international executive and operational experience ” living and working more than 16 years overseas. Mr. Menatti has successfully managed businesses at all levels – from concept, start-up, execution, mezzanine and daily operations to liquidity and/or capital events.

He holds a Bachelor of Science degree from the University of Utah. Mr. Menatti is a member of TMA and ACG as well as the Potomac Officers Club all in the DC area.

About Phoenix Management Services

Phoenix Management Services is an operationally focused advisory firm, providing turnaround, crisis and interim management and investment banking services to middle market companies in transition. Since 1985, Phoenix has aggressively advocated on behalf of its clients in over 850 assignments nationwide across a variety of situations and industries. With offices in Philadelphia, New York, Boston, Washington DC, Ft. Lauderdale and Atlanta, Phoenix preserves and enhances the value of its clients’ companies by focusing on the operational and financial challenges they encounter.

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 challenged 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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