J.H. Whitney & Co. Leads Acquisition of FNF Construction, Inc

Business Wire, May 15, 2008

Investor Group Includes Existing Management

FNF positioned to continue leading market position in infrastructure contracting in Southwest

TEMPE, Ariz. -- Private equity firm J.H. Whitney & Co. announced today that it has joined with the existing management team to acquire FNF Construction, Inc., the largest road and bridge builder in Arizona and one of the leading heavy-highway infrastructure contracting firms in the Southwest United States. The transaction closed on May 13, 2008. In addition to J.H. Whitney, the investor group includes FNF's existing management team. Financial terms were not disclosed.

Founded in 1984, FNF has successfully completed over 1,000 projects for over 50 clients and has built a culture of commitment to safety, quality and timely delivery of projects. FNF offers a full line of general contractor services focused on infrastructure-intensive projects including building roads, highways, bridges, airports and large commercial site developments, and, in addition, the company maintains asphalt-rubber blending and custom aggregate crushing capabilities. FNF is currently licensed to provide contracting services in 16 states, and counts among its customers state departments of transportation as well as county, city and local governmental entities and private sector companies.

"We believe that road and bridge maintenance and construction in the U.S., particularly in those demographically expanding areas such as the Southwest, is dramatically under-invested and poised for long-term growth," said Ransom Langford, Managing Director, J.H. Whitney & Co. "We are excited to work with FNF's outstanding management team and talented project managers and employees to continue to support the company's growth."

"Joining with J.H. Whitney will enable FNF to continue the expansion plans we have laid out to capitalize on our very attractive markets in Arizona and surrounding states," said Jed Billings, CEO of FNF. "The recent disaster with the bridge collapse in Minneapolis is just one example of the desperate need to continue to invest in our nation's road and bridge infrastructure. The combination of FNF's long history of high quality work, surety bonding relationships, and customer relationships, coupled with the new investment in FNF by J.H. Whitney, have us very well positioned to continue our run as the leading heavy-highway contractor in the Southwest."

About J.H. Whitney & Co.

J.H. Whitney & Co., established in 1946, was one of the first U.S. firms to pioneer the development of the private equity industry. Today, J.H. Whitney remains privately owned and its main activity is to provide private equity capital for small and middle market companies. J.H. Whitney is currently investing its sixth private equity fund, J.H. Whitney VI, L.P., for major endowments, foundations, pension plans, and high net-worth families. Investment activities are focused on small and middle market buyouts of market leading companies that are poised for growth in a number of industries including consumer products and retail, healthcare services, specialty manufacturing and business services. (www.whitney.com)

About FNF Construction

FNF is the number one heavy-highway contractor in Arizona and a leader in its other geographies throughout the Southwest United States. Founded in 1984, FNF provides a full line of construction contracting services and focuses on significant infrastructure projects including building roads, highways, bridges, airports and large commercial site developments. In addition, the company maintains asphalt-rubber blending and custom aggregate crushing capabilities. Headquartered in Tempe, Arizona, FNF has a staff of approximately 400 employees and completes approximately 50 projects per year throughout the Southwest. FNF has been built a culture dedicated to safety, quality, partnering, teamwork, efficient scheduling of manpower, equipment resources, and subcontractors to fast-track any type of construction project. FNF's dedication to the industry has established a reputation of success on all of its projects, from the larger projects approaching $100 million to the smaller ones under $100,000. (http://fnfinc.com/)

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to our financial results, results of operations, and business. All statements, other than statements of historical fact, are forward-looking statements. Any expectations based on forward-looking statements are subject to significant risk and uncertainties and actual results could differ materially from expectations based on such forward-looking statements. You should therefore not rely on these forward-looking statements. We undertake no obligation to update or revise any forward-looking statement.