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November 15, 2007

Robert B. Gowens Joins Phoenix Management Services, Inc. as Director

PHILADELPHIA (November 15, 2007) — Turnaround and capital advisory firm Phoenix Management Services, Inc. has hired Robert B. Gowens as a Director in the firm’s Atlanta office. Mr. Gowens brings more than 36 years of senior leadership experience to the Phoenix team’s unique blend of turnaround management, capital advisory, and operational due diligence services.

With both corporate and consulting experience in the public and private sectors, Gowens adds strength to the operational and financial expertise of the Phoenix team. “Bob brings a great mix of senior-level operating experience and an extensive history with two top-tier consulting firms to Phoenix; this will bring enormous benefits to our clients,” states Managing Director and Shareholder Brian Gleason. “He understands how to help middle market companies preserve and enhance their value, whether they are growth-oriented or operating in a challenging environment.”

Prior to joining Phoenix, Mr. Gowens led his own consulting firm providing strategic planning, turnaround management, reengineering, due diligence support, and other consulting services to a variety of middle market clients. Prior to his consulting role, he served as CEO, President, and Vice President/General Manager for three different consumer durables manufacturers, including two engine companies and a boat manufacturing company. Mr. Gowens began his career in the consulting business, having been a Principal at A.T. Kearney and a Manager in Arthur Andersen’s Consulting Division.

Mr. Gowens earned a BBA in Accounting from Kent State University. He is a former Certified Public Accountant and is active in a number of organizations, including the Turnaround Management Association (TMA) and the Association for Corporate Growth (ACG). He has been a keynote speaker twice to the International Boatbuilders” Exposition, the annual international conference that showcases leading-edge technologies for the recreational marine industry. Mr. Gowens can be reached as follows: rgowens@phoenixmanagement.com; (941) 807-3230.

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. Visit our Website at www.phoenixmanagement.com.

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. Visit our Website at www.phoenixmanagement.com.

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