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November 4, 2009

Phoenix Opens Dallas Office and Expands New York City Office

Wimmer Associates merges with Phoenix

PHILADELPHIA (November 4, 2009) ”” Lance Wimmer, a long time restructuring industry veteran has joined the firm and become a Director in the New York office to broaden Phoenix’s New York City presence.

Mr. Wimmer has over twenty-five years of senior executive and restructuring experience and successfully built a significant practice. Earlier this year he merged his Dallas based practice, Wimmer Associates, Inc., into Phoenix and he led the opening of Phoenix’s Dallas office. Mr. Wimmer is responsible for leading projects in all aspects of Phoenix’s services, including both its turnaround, crisis and interim management services, as well as various capital advisory services including M&A, restructurings and recapitalizations/refinancings.

“I am thrilled to have Lance on board,” said Phoenix Managing Director and Shareholder Michael Jacoby. “Given his wealth of operational and restructuring experience, he is able to assist with our current clients and manage the increased activity we are experiencing.”

Mr. Wimmer’s career has included a wide variety of roles such as: Board of Director and CEO roles, corporate planning and strategy, marketing, operations, M&A and finance across an expansive cross-section of business environments that include Booz, Allen & Hamilton, US Steel, Swift and Lenox China, as well as a multitude of public, private and family owned middle-market companies.

His broad ranging experience includes manufacturing, distribution, energy, services, technology, consumer goods, retail and restaurant industry groups. His restructuring experience has focused largely on financial, operational and strategic assessments, CRO engagements and refinancings.

He graduated from Lehigh University with both Bachelors and Masters degrees in Mechanical Engineering and later graduated from Carnegie Mellon with a Masters in Industrial Administration (an MBA equivalent).

About Phoenix

Phoenix Management Services is an operationally focused advisory firm, providing turnaround, crisis and interim management services to middle market companies in transition. Since 1985, Phoenix has aggressively advocated on behalf of its clients in over 900 assignments nationwide by providing tangible operating solutions, effecting real change and performance improvement.

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. Phoenix Capital’s mission is to maximize transactional value and return on investment for its clients.

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