Kenneth J. O'Keefe Named Managing Director of Vestar Capital Partners

Business Wire, April 10, 2006

NEW YORK & BOSTON -- Vestar Capital Partners, a leading private equity firm, announced today that it has appointed Kenneth J. (Kenny) O'Keefe Managing Director of Vestar Capital Partners. Mr. O'Keefe was formerly President and Chief Operating Officer of Clear Channel Communication's Radio Division, the nation's largest radio broadcast group with over 1,200 stations.

Most recently a Senior Advisor to Vestar, Mr. O'Keefe now joins Vestar Resources, the private equity firm's team of seasoned managers and operating executives who serve as an on-call resource for Vestar's portfolio company management teams. Mr. O'Keefe brings 27 years of management experience to Vestar Resources, with particular expertise in operations, financial management, and acquisitions. In his long and distinguished media career, Mr. O'Keefe served as Executive Vice President and Chief Financial Officer of Vestar's portfolio-company Pyramid Communications, which was acquired by Evergreen Media Corporation in 1996.

Mr. O'Keefe said, "In recent years, the media and communications sector has emerged as an area of great potential for private equity investment. Vestar's proven strategy of partnering with management to invest in key areas of a business with the objective of long-term growth will be a formula for success in media investing in the years to come. Serving as a Senior Advisor to Vestar over the past year has been a tremendously rewarding and challenging experience for me and I am delighted to join Vestar Resources and to continue to help build Vestar's substantial media and communications franchise."

Daniel S. O'Connell, Founder and Chief Executive Officer of Vestar, remarked, "We have known Kenny for 30 years, have backed him in a highly successful investment and worked with him as a director on many of our portfolio company boards. His outstanding track record in creating value combined with his broad network of contacts in the media and communications industry will be tremendous assets for Vestar as we focus on building a premier media and communications portfolio. We are pleased to name him Managing Director of Vestar Resources."

Vestar co-founder and head of Vestar's Media and Communications Group, Norman W. Alpert, added, "Kenny's deep operational experience has afforded Vestar a palpable strategic edge in evaluating investment opportunities in the media and communications sector as well as in accelerating value creation in existing portfolio companies. We are excited to have him become a dedicated team member, and look forward to continuing to leverage his industry expertise in growing our media and communications presence globally."

After retiring from Clear Channel Communications in 2001, O'Keefe founded NewVen Partners, a private investment and consulting firm specializing in the media and telecommunications industries. He presently serves as Chairman of the Board of MCG Capital Corporation (NASDAQ: MCGC), and as a Director and Advisor to Border Media Partners, the largest privately-held owner of Hispanic radio stations in the U.S., and current Vestar portfolio-company.

About Kenny O'Keefe

Mr. O'Keefe has held executive positions with several large public media companies over his 27 year media career, including Evergreen Media Corporation where he served as Executive Vice President of Operations and was a member of the Company's Board of Directors, Chancellor Media Corporation as Executive Vice President of Operations; AMFM, Inc. as Chief Executive Officer, President and Chief Operating Officer, and Clear Channel Communications, Inc. as President and Chief Operating Officer of its radio division. During O'Keefe's tenure, AMFM and Clear Channel Communications (following its merger with AMFM) were the nation's largest radio broadcasting companies as measured by stations and revenues.

O'Keefe, 50, serves as a Trustee of Brown University, Providence, RI, and The Rivers School, Weston, MA. He is also President of the Brown University Sports Foundation. O'Keefe is a graduate of Brown University.

About Vestar

Vestar Capital Partners is a leading private equity firm specializing in management buyouts and growth capital investments. Vestar's investment strategy is targeted towards companies in the U.S. and Europe with valuations in the $100 million to $5 billion range. Since the firm's founding in 1988, Vestar has completed over 50 investments in the U.S. and Europe in companies with a total value of approximately $17 billion. These companies have varied in size and geography and span a broad range of industries. The firm's strategy is to invest behind management teams, family owners or corporations in a creative, flexible and entrepreneurial way with the overriding goal to build long-term franchise value. Vestar currently manages funds totaling approximately $7 billion and has offices in New York City, Denver, Boston, Paris and Milan. More information about Vestar is available at http://www.vestarcapital.com