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New York | September 2008

Praesidian Capital Investors Supports Recapitalization of Granite Seed Company

Leading mezzanine firm partners with Marwit Capital Partners and Granite Seed’s management team to drive further success

Praesidian Capital Investors, a leading provider of mezzanine capital for small and mid-sized companies, has provided $10 million of senior subordinated debt to support the recapitalization of Granite Seed Company, by Marwit Capital Partners and Granite Seed’s Management.

Granite Seed is a leading supplier of seed and erosion control products for land reclamation and restoration, turf, beautification, pasture and range for the western United States. The Company maintains the most extensive inventory of reclamation products available from any one source and carries a full line of erosion control products. It provides a diverse seed inventory built through a strong network of growers, collectors and vendors.

“Granite Seed’s management team is exactly the type Praesidian seeks to partner with – talented, savvy and with a great track record and business plan,” said Jason Drattell, Managing Partner at Praesidian. “Now with the support of two organizations in the business of growing small companies, Granite Seed’s prospects are even stronger.”

“This is the second time this year we have partnered with Praesidian to invest in a growing company,” said Matthew Witte, Managing Partner at Marwit Capital Partners. “It was clear to both our firms that we had found another winner in Granite Seed, a historically profitable business with a strong position in a niche sector.”

“Our management team is very talented, and for good reason we are proud of what we have accomplished at Granite Seed,” said Don Bermant, Chief Executive Officer of Granite Seed. “But with our partners we have developed a plan to make Granite Seed an even more successful enterprise.”

About Praesidian Capital Investors
Praesidian Capital partners with small and mid-sized businesses, providing private debt capital. With a focus on its core competency in mezzanine financing, Praesidian invests in established, historically profitable companies often in connection with a management/leveraged buyout, recapitalization or refinancing. Based in New York City, Praesidian manages over $400 million in committed capital. For more information, visit www.praesidian.com.

About Marwit Capital
Marwit Capital is one of the oldest and most experienced private equity firms in the Western U.S. Founded in 1962, Marwit’s investment focus is on lower middle market companies based in California and the Western U.S., with revenues of $20 to $200 million and enterprise values of generally less than $100 million. Marwit specializes in management buyouts, platform acquisitions in partnership with experienced industry executives, recapitalizations, and later stage growth and expansion investments. Marwit seeks to deploy $10 to $30 million of equity capital per Portfolio Company, in one or a series of investments. Marwit Capital Partners II, L.P. completed its final closing on August 15, 2007 with $183.7 million of committed capital. For more information, visit www.marwit.com.

About Granite Seed Company
Granite Seed Company is a leading supplier of seed, erosion control and land reclamation products for the western United States. Headquartered in Lehi, Utah, Granite offers specialized products, a diversified inventory and quality service and technical support for land reclamation or land restoration, landscaping, golf courses, beautification, pasture and range. For more information, visit www.graniteseed.com.

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

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