TowerBrook Capital Partners to Team with Experienced Communications and Technology Executive Dion Joannou

October 13, 2008 - TowerBrook Capital Partners L.P. (“TowerBrook”), a New York- and London-based private equity firm, today announced Dion Joannou, an experienced communications and technology executive, has entered into a consulting agreement with TowerBrook. As an advisor, Mr. Joannou will explore potential investment opportunities in the hardware, services and software sectors of the communications, media and technology industries. An industry veteran with almost 15 years of experience in the communications sector, Mr. Joannou served in a variety of management roles at Nortel Networks during that time and has extensive experience managing a wide range of responsibilities.

Mr. Joannou currently serves as an independent director to Dialogic Corporation where he works closely with Dialogic’s management team to accomplish strategic initiatives. Prior to his time at Dialogic, Mr. Joannou served as President, North America of Nortel Networks where he handled end-to-end customer responsibilities for the $5.5 billion North American business that represents more than half of Nortel’s total revenue. Prior to his role as President, North America, Mr. Joannou held multiple positions at Nortel including Chief Strategy Officer, President of CALA (Caribbean and Latin America) and General Manager/VP of Vodafone Global Account Group. Mr. Joannou received his bachelor’s degree from Southern Illinois University and a Masters of Business Administration from the University of Miami.

Jonathan Bilzin, Senior Managing Director of TowerBrook, commented, “Dion’s depth of experience across a wide variety of businesses during his time as a senior executive at Nortel enables us to pursue many opportunities in the technology and communications sectors. He has a strong, hands-on operating background and is an excellent match for our strategic approach of partnering with top industry executives to acquire companies. We look forward to a successful partnership with Dion as we explore opportunities within the technology and communications areas.”

Mr. Joannou added, “TowerBrook has a proven track record of finding strong mature companies and partnering with management teams to help strengthen and expand their businesses and unlock additional value. There are two significant dynamics in the technology and communications industry -- emerging technologies and consolidation among more established players in the sector -- which make this a very good time to pursue new investment opportunities in both the U.S. and abroad.”

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