TowerBrook Capital Partners to Team with Experienced Building Products Executive Frank A. Riddick III

May 30, 2008 - TowerBrook Capital Partners L.P. (“TowerBrook”), a New York and London-based private equity firm, today announced Frank A. Riddick III, an experienced building products executive, has entered into a consulting agreement with TowerBrook as an advisor to explore potential investment opportunities in the building materials sector. An industry veteran with nearly 15 years of experience in the sector, Mr. Riddick served in a variety of management roles at different building materials companies and has extensive experience managing complex situations.

Mr. Riddick most recently served as the President and Chief Executive Officer of Formica Corporation where he led the company’s turnaround in recent years. During Mr. Riddick’s tenure, Formica was successfully restructured and repositioned as a vibrant and growing company. Prior to joining Formica, Mr. Riddick served in various executive capacities at Armstrong World Industries, including as President and Chief Operating Officer. While at Armstrong, he was responsible for expanding Armstrong’s global business. Prior to joining Armstrong, Mr. Riddick held positions at General Motors Corporation, Merrill Lynch & Co. and FMC Corporation. Mr. Riddick received his bachelor’s degree from Vanderbilt University and a Masters of Business Administration from Duke University’s Fuqua School of Business.

Robin Esterson, Managing Director of TowerBrook, commented, “Frank possesses a unique background with demonstrated success as a Fortune 500 senior executive in several complicated situations within the building materials sector. He has a strong financial background in addition to an outstanding track record as an operator and has shown an ability to drive growth even in difficult times. We are confident that his industry experience will prove invaluable to TowerBrook as we explore opportunities within the building products and distribution areas.”

Mr. Riddick added, “TowerBrook is well-known for its ability to find strong businesses, partner with management and provide the necessary capital and resources to ensure its portfolio companies are successful over the long term. I am excited to work with TowerBrook and look forward to pursuing investment opportunities in the building materials sector in both Europe and the U.S.”

TowerBrook Capital Partners L.P. is a private equity firm with $2.5 billion under management. The firm has offices in New York and London and focuses on making investments in North American and European companies. TowerBrook primarily pursues control-oriented private equity investments in large and middle market companies, partnering with highly capable management teams, often in situations characterized by complexity.

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