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Eastside Partners Closes Fund I

Eastside Partners, located in Huntsville, Alabama, closed its first fund, Eastside Partners Fund I, on June 10, 2005 with commitments of over $60 million.  The fund will focus on early to expansion stage investments in the financial services, healthcare and information technology industries.  Investors in the fund include a number of leading institutions, industry CEOs and high net worth individuals.

We are very pleased to have successfully completed our fundraising which began earlier this year,” said Jay C. Horgen, co-Managing Partner of Eastside Partners.  “We are encouraged that we had a number of high quality institutional investors and strategic individuals that were supportive of our strategy”.

“Our investment team has substantial experience assisting companies with operational and strategic matters,” said Emerson Fann co-Managing Partner of Eastside Partners.  “We look forward to creating valuable partnerships with entrepreneurs to build companies of lasting value.”

The new fund will make equity and equity-related investments in early to expansion growth companies in the financial services, healthcare and information technology industries.  Eastside will be managed by Jay C. Horgen, formerly a Managing Director at Merrill Lynch, and Emerson Fann, a partner of Southeastern Technology Fund.  Tina Corley, the CFO of Southeastern Technology Funds I and II, is Eastside’s CFO and the team includes three former CEOs as Operating Consultants who have founded and grown substantial companies within Eastside’s targeted investment sectors.