Birchmere Executive Joins Stonewood Capital Management, Inc.

PITTSBURGH, PA    March 7, 2006

Peter J. Muth, a seasoned principal of Birchmere Capital Limited Partnership and Birchmere Investments Inc., has joined Stonewood Capital Management, Inc. as Vice President.

Mr. Muth has been a private equity investor for eight years and has experience in a full range of investment opportunities, including early stage ventures and traditional LBOs.

Recently, Stonewood and Birchmere co-invested in the acquisition of Rita’s Ice., a fast-growing franchisor of frozen desserts. “Investing in the Rita’s deal with Stonewood was a wonderful opportunity to get to know the Stonewood team in a real-time deal environment,” said Muth. “It set the stage for discussions about how we could continue to work together.”

Kenn Moritz, Stonewood Executive Vice President, describes the new hire and the strengthened relationship with Birchmere. “We were looking to expand our Stonewood operation and at the same time we understood that Birchmere did not anticipate that it would make additional platform investments. Pete’s joining Stonewood creates a great opportunity for us to accelerate our pace of activities and enlarge our base of portfolio companies. And as we move forward, we will be able tap into the extensive networks and experiences of Jack Isherwood and Dick Stover at Birchmere. We have plans to raise a co-investment fund, and with the expertise and experience among the principals of Stonewood and Birchmere we are able to offer investors an opportunity to participate in a solid and tested approach to private equity. It is an optimal alliance for us.”

Prior to his experience at Birchmere, Muth spent seven years with PNC Bank, holding positions in corporate lending and credit.

Muth’s new role with Stonewood will be concurrent with his continuing activities at Birchmere. Currently Muth serves as current director for five Birchmere portfolio companies: Miller Centrifugal Casting, Pennsylvania Brewing Company, BBR Services LP, Vertical Claims management LLC, and Rita’s Water Ice. In addition, Muth serves on the Education Foundation Board of the Community College of Allegheny County.

Muth earned a B.S. in business from the University of Dayton and an M.B.A. from the University of Pittsburgh’s Katz Graduate School of Business.

Stonewood Capital Management, Inc. is a private Pittsburgh-based investment firm seeking opportunities with companies with sales of $5 to $50 million. Stonewood was established in 1993 as a vehicle for private equity investments on behalf of the Tippins family of Pittsburgh. In addition to Kenn Moritz and Pete Muth, the Stonewood management team includes George Knapp (President) and John Tippins (Managing Director). For further information on the Stonewood group, please see