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May 2, 2007

Recent Promotions, New Associate for Phoenix Management Services

PHILADELPHIA (May 2, 2007) —Turnaround management firm Phoenix Management Services has promoted Dennis Bobker, CTP from Vice President to Director and Joseph Nappi from Senior Associate to Vice President. In addition, Michael Fuller has joined Phoenix as an Associate in the firm’s Boston, MA office.

Mr. Bobker has been with the firm for more than five years and has been instrumental in Phoenix’s growth and development of the New York and Northern New Jersey marketplaces. “Dennis has shown excellent business judgment, which has benefited our clients and their varied constituents during his tenure at Phoenix. His outstanding leadership role in a number of turnaround and capital advisory engagements contributed to his promotion to Director,” states Michael Jacoby, Managing Director and Shareholder.

Prior to joining Phoenix, Mr. Bobker worked extensively in international markets throughout the world. He has significant experience in business development and market penetration strategies throughout Europe, South America and Asia, with positions in the aerospace, mining and construction industries. Mr. Bobker is a graduate of the University of Bridgeport in Connecticut with degrees in finance and marketing. He is an active member of the Turnaround Management Association and is a Board Member of the New Jersey chapter.

Mr. Nappi has been with Phoenix for three years, working with a broad range of middle market companies in various stages of transition to manage business assessments, transition plan development and execution of various turnaround strategies. “Joe has worked diligently to bring quantifiable results for our turnaround advisory and capital advisory clients, which he will continue to do as Vice President. Further, he has developed a strong reputation for financial and operating excellence within the Boston marketplace,” states Jim Fleet, Managing Director and Shareholder.

Prior to joining Phoenix, Mr. Nappi was a portfolio manager at FleetBoston Financial. Mr. Nappi began his banking career at The Chase Manhattan Bank as a financial analyst. After completing Chase’s Global Investment Banking Training Program, he worked for Chase’s Middle-Market Lending Group. Mr. Nappi graduated cum laude from Babson College with a B.S. in Financial Investments and a minor in Management Information Systems. He is also an active member of the Turnaround Management Association.

In his role as Associate, Mr. Fuller will work with Phoenix’s turnaround and capital advisory clients to analyze business operations, create cash analyses and financial forecasts, assist with due diligence services, and assist with client management. “Mike is a great addition to our team, and his senior-level experience with financial planning, strategy and development will help our clients preserve and enhance their value,” states Mr. Fleet.

Prior to joining Phoenix, Mr. Fuller was most recently CEO/CFO of York Manufacturing, Inc, of Sanford, ME. Mr. Fuller began his career at Fidelity Investments in Boston, MA. He graduated from Bentley College in Waltham, MA with a Bachelor of Science in Finance.

These professionals can be reached as follows:
Dennis Bobker:; (212) 292-4982.
Joseph Nappi:; (617) 217-2889.
Michael Fuller:; (617) 217-2889.

About Phoenix Management Services

Phoenix Management Services is a recognized leader in operationally-focused turnaround, crisis and interim management and strategic advisory services to middle market companies in transition. Since 1985, Phoenix has aggressively advocated on behalf of its clients in more than 800 assignments nationwide across a variety of situations and industries. With offices in Philadelphia, New York, Boston, Ft. Lauderdale and Atlanta, Phoenix preserves and enhances the value of its clients’ companies by solving the operational and financial challenges they encounter.

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