Shamrock Capital Advisors Selects New Managing Director for the Shamrock Value Activist Fund

Business Wire, July 2, 2008

BURBANK, Calif. -- Shamrock Capital Advisors, Inc. confirmed today that Dennis Johnson, Director of Corporate Governance for CalPERS, will become Managing Director of the Shamrock Value Activist Fund, L.P. effective August 1, 2008.

Johnson has served three years as Director of Corporate Governance for CalPERS. The Corporate Governance Office of CalPERS oversees a $7 billion corporate governance investment program, manages the Focus List program, governance policy development, and corporate engagement programs.

"We are most pleased that Dennis has agreed to join the Shamrock family to manage our Activist Fund," stated Stanley P. Gold, Shamrock President. "He brings diverse and significant management expertise to Shamrock which will help achieve the goals and objectives of our $1 billion Activist Fund," Mr. Gold added.

Prior to his service at CalPERS, Johnson served as Managing Director, Citigroup Global Markets, Inc. in Stamford, Connecticut, and President and Chief Investment Officer, Peachtree Asset Management, a division of Citigroup Asset Management, in Atlanta, Georgia.

Johnson replaces Michael McConnell as Managing Director of the Shamrock Value Activist Fund who decided last December to leave Shamrock to devote his time and energy to family medical issues. "Mike has been a valued and dedicated executive in a wide variety of assignments over the past 14 years and has added value and strength to Shamrock," Gold said. "He will be missed." McConnell will remain at Shamrock through September to assist with the transition.

The Shamrock Activist Value fund was formed in 2004 to make equity investments in small-cap, publicly traded companies. The fund combines a deep value focus with a strategy of responsible stockholder activism.

Founded in 1978, Shamrock Holdings is the investment vehicle for the Roy E. Disney family and has been an investor in a wide range of domestic and international private equity transactions, marketable securities, and real estate.