Greenbriar Equity Group Names Mike Sprague Advisory Director

RYE, N.Y., Aug. 1, 2006 -- Greenbriar Equity Group LLC, a private equity firm focused exclusively on making investments in the global transportation industry, announced today that it has named Mike Sprague as an Advisory Director of the firm.

"Mike's expertise and experience in logistics and supply chain management are well known in the industry," said Greenbriar co-founder and Managing Partner Joel Beckman. "He has been an important contributor to the firm's work on a consulting basis, and we look forward to his further contributions to our portfolio companies as he expands his role within the firm."

"The breadth of operational experience and expertise of the Greenbriar team is a key element of our strategy," added Regg Jones, Greenbriar co- founder and Managing Partner. "Mike's background will augment and complement that of both our internal team and the extended Greenbriar network."

Sprague began working with Greenbriar intermittently over a year ago as an outside consultant to the firm. He has previously served as President of the Americas division of Tibbett & Britten Group PLC, a third-party logistics company, later acquired by Exel PLC, supplying warehousing, distribution, and supply chain management services under long-term contracts to manufacturers, retailers, and distributors of consumer merchandise. During his 12 years of leadership, revenues for the Americas division grew from $5 million to over $1 billion. Prior to joining Tibbett & Britten, Sprague worked for 20 years in various divisions at Unilever, working primarily with newly acquired or non-core industrial businesses to refine growth strategies and implement organizational changes. He received both BA and MA degrees from Oxford University.

Greenbriar Equity Group LLC is focused exclusively on making private equity investments in the global transportation industry, including companies in freight and passenger transport, commercial aerospace, automotive, logistics, and related sectors. Greenbriar's managing partners bring over nine decades of collective experience at the highest levels within transportation. Greenbriar manages $700 million of committed limited partner capital and co-investment commitments. Additional information may be found at www.greenbriarequity.com.

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