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New York | August 2006

Praesidian Capital Supports Recapitalization of CODi, Inc.

Provider of Notebook Computer Carrying Cases to Fortune 500 Companies Represents Sixth New Investment of 2006 for Leading Mezzanine Firm

Praesidian Capital, a leading provider of mezzanine debt to middle market companies, has provided subordinated debt financing for the recapitalization of CODi, Inc. ("CODi"), a leading provider of notebook computer carrying cases to Fortune 500 companies. Praesidian provided $5.0 million of subordinated debt in the transaction, which builds on Praesidian's momentum in 2006, marking the firm's sixth new investment of the year.

CODi, which sells products in three different categories -- carrying cases, IT accessories and bundled solutions, which include both cases and accessories has secured a strong and stable position in a growing industry using its "one-step distribution" approach. The company provides a one-stop, custom, turnkey procurement solution for its customers in a market in which purchasing through distributors and value-added resellers is the norm. The company is controlled by Pennsylvania-based private equity find Milestone Partners and management.

"The U.S. notebook computing industry has been one of the fastest growing sectors of the computer market in recent years," said Neil Marks, Managing Partner at Praesidian. "As an approved vendor at a third of the Fortune 500 with a diversified revenue base, CODi is well positioned to continue its solid growth."

"We are very pleased to be working with Praesidian as well as our equity sponsor Milestone Partners," said Tim Hoagland, Chief Executive Officer at CODi. "Both firms have proven experience helping distribution and manufacturing businesses reach their full growth potential."

Since the close of its debut fund in February of 2005 on $157 million, Praesidian has established a strategy of providing mezzanine capital to historically profitable middle market companies with talented management teams throughout the United States. In 2006, the firm has closed several add-on investments for portfolio companies and six new investments, including four in the distribution and manufacturing categories. In July, Praesidian helped to finance the recapitalization of Davis Inotek Instruments, a leading global manufacturer and distributor of test, measurement and control instruments, and its acquisition of General Electric's calibration and repair business. In April, Praesidian provided senior and subordinated debt financing for the recapitalization of Pro-Motion Distributing, a leading distributor of branded specialty automotive aftermarket parts. In March, Praesidian provided mezzanine financing to aid in a recapitalization of the BondCote Corporation, a premier manufacturer of highly engineered coated and laminated industrial fabrics.

About Praesidian Capital
Praesidian provides mezzanine debt to middle market companies. The firm provides capital for established, historically profitable companies, as well as for management/leveraged buyouts, recapitalizations and refinancings. Investments are focused on successful businesses in the manufacturing, distribution and service sectors, although the firm's approach is not driven by an industry focus. For more information, visit www.praesidian.com

About CODi, Inc.
CODi, located in Harrisburg, PA, is a provider of notebook computer carrying cases and information technology accessories such as security locks, wireless mice, port replicators and power adaptors, to Fortune 500 companies. The Company has secured a significant competitive advantage by using its direct sales force to become a one-stop, custom, turnkey procurement solution for its customers in a market in which purchasing through distributors and value-added resellers is the norm. Tim Hoagland and Steve Dayton founded CODi in 1992, and continue to lead the Company. For more information, please visit www.codidirect.com

Media Contact: Dan Jacobs
Broadgate Consultants, LLC
Phone: 212 232 2227

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