Transportation Resource Partners Announces Purchase of National Powersport Auctions

BLOOMFIELD HILLS, Mich.--Aug. 29, 2006--Transportation Resource Partners, LP (TRP), a private equity firm focused on investing in the transportation industry, announced that it has acquired Cycle Express, LLC (d.b.a. National Powersport Auctions) from Falconhead Capital, LLC.

National Powersport Auctions (NPA), headquartered just outside of San Diego in Poway, CA, is the leading auctioneer of powersport vehicles. The company auctions vehicles out of its San Diego, Dallas, and Atlanta facilities and attracts buyers globally due to its internet capabilities, outstanding customer service, and attention to detail. NPA's live auctions take place once a month at each facility and can be attended in person or online via the internet. Vehicles that are auctioned are either repossessed, salvage, or consignment units owned by companies seeking liquidity and are typically bought by dealers trying to meet consumer demand.

Cliff Clifford, CEO of National Powersport Auctions, said, "TRP is a natural fit for NPA given their experience in the transportation industry and expansive network, both of which became very apparent throughout the deal process. We are confident that TRP can help us take the company to the next level and we have already begun discussing new opportunities with them."

Dave Mitchell, Principal of TRP, said, "NPA's management team has done an incredible job building the business. They have established a truly unique auction environment specifically suited to the needs of the powersport industry. We look forward to working with management to grow the company while maintaining the same high standards of quality and service for NPA's customers."

Transportation Resource Partners, LP is a $265 million private equity fund that makes leveraged investments in growth-oriented companies operating in the transportation and transportation services industries. TRP's philosophy is to identify attractive investment situations where it can work in partnership with management to support growth. TRP's principals have extensive operating and investing experience in the transportation industry. TRP, along with its predecessor fund, Penske Capital Partners, has been responsible for managing over $600 million of equity capital. For more information on TRP, please visit www.trpfund.com and for more information on NPA visit www.npauctions.com.

Falconhead Capital, LLC (www.falconheadcapital.com) is a private equity firm established in 1998 to provide investors with significant long-term capital appreciation by investing globally in businesses in the leisure, lifestyle, recreation and related categories.