Lightyear Capital Sells Telmar Network Technology to Warburg Pincus

Business Wire, May 1, 2006

NEW YORK -- Lightyear Capital LLC ("Lightyear"), a private equity firm that focuses on financial services, today announced that it has completed the sale of Telmar Network Technology, Inc. ("Telmar"), a leading logistics and supply chain broker to the communications industry, to Warburg Pincus LLC. Terms of the transaction were not disclosed.

Telmar was acquired by Lightyear in November 2003 from Stonebridge Partners, which remained as a minority investor. Under Lightyear, Telmar subsequently acquired Commnet Wireless Supply ("Commnet") in March 2004, Maya Telecom ("Maya") in November 2005, and several product lines from Alcatel in November 2005. In January 2005, Telmar announced the completion of a $50 million dividend recapitalization.

"We are pleased with this Fund I investment," said Donald B. Marron, chairman and chief executive officer of Lightyear. "Telmar represented an excellent opportunity to partner with a talented management team in an attractive specialty growth area. It has been a pleasure to work with Telmar's management over the past two and a half years."

"Through our strong relationship and close work with Telmar's management, we achieved our strategic goal of significantly diversifying the business," said Mark Vassallo, a managing director of Lightyear.

Commenting on the transaction, Telmar's president and chief executive officer, John Kidwell, said, "We had an excellent partnership with Lightyear. Their considerable expertise and experience helped us grow and diversify our business both organically and through acquisitions."

ABOUT TELMAR NETWORK TECHNOLOGY, INC.

Telmar Network Technology, Inc. provides reliable, high-quality, and cost-effective solutions for network maintenance, expansion and asset management. For almost four decades, Telmar Network Technology's unique blend of new and certified refurbished telecom equipment and asset management programs have resulted in significant material savings and cost avoidance for the world's largest telecommunication network carriers. Telmar Network Technology is headquartered in Irvine, California and operates facilities in Iowa, Maryland, Pennsylvania, Georgia, Indiana, Florida, and Texas. For additional information about Telmar Network Technology, please visit: www.telmarnt.com.

ABOUT LIGHTYEAR CAPITAL

Lightyear Capital is a private equity investment firm providing buyout and growth capital to companies in the financial services industry. Based in New York, Lightyear manages approximately $2 billion in assets with investments across the financial services spectrum including brokerage, insurance, leasing, specialty finance, wholesale and consumer banking, and financial technology. Lightyear brings unique strengths and discipline to its investment process, as well as operating, transaction and strategic management experience, along with significant contacts and resources beyond capital. The senior team of professionals has an average of 20 years of financial services-related experience and includes David Glenn, Stewart Gross, Donald Marron (the former Chairman and CEO of PaineWebber Group), Richard Sterne, and Mark Vassallo. www.lycap.com