Ivor J. `Ike' Evans Joins Thayer Capital Partners As Operating Partner

WASHINGTON--May 1, 20051, 2005--Thayer Capital Partners announced today that Ivor J. "Ike" Evans has joined as an Operating Partner. Mr. Evans brings a wealth of knowledge, relationships and expertise to Thayer with his 40 years of extensive industry experience in industrial manufacturing, logistics and the automotive industry. His impressive background is completely aligned with Thayer's targeted industries.

Mr. Evans recently retired from Union Pacific Corporation where he served as Vice Chairman and Director. He joined Union Pacific Railroad in 1998 as President and Chief Operating Officer, responsible for the day-to-day operations, marketing and sales functions of the company. During his tenure at Union Pacific, the company grew from $9 billion to over $12 billion at a time when industrial production was essentially flat. With his customer-driven mindset, he was credited with the development of new and successful products as well as driving productivity improvements and increased throughput of the company's rail network.

Prior to joining Union Pacific, Mr. Evans spent 10 years at Emerson Electric Company, one of the world's largest industrial corporations, where he held a number of positions including Senior Vice President, Industrial Components and Equipment. He also served as President of the Blackstone Corporation, a manufacturer of original equipment and aftermarket automotive components, which was a subsidiary of Mark IV Industries. Mr. Evans began his career at General Motors Corporation where he spent 21 years holding a number of key operating positions in the Chevrolet, Buick, Delco Products and Harrison Radiator divisions.

Mr. Evans in an important addition to Thayer as the Company continues to enhance its operating orientation and overall capabilities

Thayer Capital Partners, a strategically focused private equity investment firm based in Washington, D.C., manages three private equity funds totaling $1.5 billion. The firm manages middle-market leveraged buyouts in the industrial products and services sectors.