Goldsmith Agio Helms Completes the Recapitalization of American Products Company, Inc.

LOS ANGELES--Aug. 2, 20037, 2003--Goldsmith Agio Helms announced today the completion of the recapitalization of its client, American Products Company, Inc. ("APC") by The Riverside Company and Brown Brothers Harriman. Congress Financial provided a senior credit facility for the transaction.

The Riverside Company and Brown Brothers Harriman have partnered with APC's senior management, including President & Founder Brian Horowitz, to invest equity and subordinated debt that will provide APC with the growth capital it needs to fuel its aggressive growth trajectory and to maintain the highest levels of service to its rapidly expanding customer base.

Ed Villeneuve, managing director of Goldsmith Agio Helms, commented, "With the successful recapitalization of APC Goldsmith Agio Helms' consumer products group has now completed more than 100 transactions. Further, this represents the second automotive aftermarket product deal we have closed in as many months, demonstrating our firm's strong presence in this sector. APC provides Riverside with a strong platform in the $7.4 billion appearance products market."

Mike McFadden, managing director and partner of Goldsmith Agio Helms, added, "APC is clearly the leading brand in this fast growing market segment, commanding extensive retail shelf space, an impressive portfolio of intellectual property, and one of the most creative design and marketing teams in the industry."

"We are pleased to join forces with such strong financial partners who not only have the capital to support our growth, but the significant industry experience that will help us to solidify our leadership position in the appearance accessory market," said Brian Horowitz, President and Founder of APC. "We look forward to expanding our business, developing new and innovative products and continuing to improve our service levels to our valued customers."

AMERICAN PRODUCTS COMPANY, INC. (www.4apc.net), headquartered in Corona, California, is a leading designer, marketer and manufacturer of automotive aftermarket accessories for the compact performance and sport-truck segments of the market. APC offers the broadest array of appearance-related automotive accessories in the industry -- selling through more than 15,000 retail locations -- and is fast becoming a significant factor in the OEM and crash part segments as well.

THE RIVERSIDE COMPANY (www.riversidecompany.com), with offices in New York, Cleveland, Dallas and San Francisco, is one of the leading private equity firms investing in premier companies at the smaller end of the middle market. The firm has more than half a billion dollars of capital under management and has earned its investors realized gains of more than five times their original cash investments on exited transactions. Since its inception in 1988, Riverside has invested in 71 acquisitions -- 34 platform companies and 37 add-on acquisitions -- across a variety of industries through its three funds and other investment vehicles. Riverside's current portfolio numbers 24 companies.

BROWN BROTHERS HARRIMAN (www.bbh.com) is among America's oldest bank partnerships. BBH's 1818 Mezzanine Fund II, L.P., formed in January 2001 with total commitments of $377 million, generally invests $5 million to $30 million per transaction in companies with enterprise values ranging from $20 million to $500 million. By investing in a variety of debt and equity securities, including subordinated notes and preferred and common stock, the Fund offers highly customized financing solutions for companies seeking capital.

GOLDSMITH AGIO HELMS (www.agio.com) is the nation's leading private investment banking firms providing financial advisory services to middle-market businesses. Our services include mergers and acquisitions, distressed advisory and restructuring, valuations and fairness opinions, and private placements of debt and equity. We operate internationally from our offices in Minneapolis, New York, Chicago, Los Angeles, and Naples, Florida.