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New York | April 2006

Praesidian Capital to Fund Growth of Leading Insurance Brokerage

RAI Insurance Agency Represents Second Investment In Insurance Sector For Leading Mezzanine Firm

Praesidian Capital, a provider of mezzanine debt to middle market companies, has completed a commitment to invest $8,850,000 in RAI Insurance Agency LLC ("RAI" or the "Company"), an administrative and insurance brokerage company providing a variety of services for clients with life insurance policies. The proceeds of Praesidianís investment, which is being made in three tranches during the first twelve months post-close, will be used to drive organic growth.

RAI is one of three parts of RAI Insurance Group LLC and was formed to originate and manage life insurance policies, finance premiums and loan accounts, and sell specific premium-financed policies into the secondary market. RAI targets a market of senior citizens and their trusts. The Company benefits from commissions, interest and fees, and the sale of certain policies into the secondary market.

"Our investment in RAI gives the company the right capital structure to take advantage of favorable industry trends," said Neil Marks, Managing Partner at Praesidian. "With a skilled management team led by Chief Operating Officer Bette Gandelman, we are confident in RAIís future."

"With Praesidian's understanding of the insurance industry, the firmís investment will give RAI the financial and strategic resources needed to take our business to the next level," said Ms. Gandelman. "Praesidianís commitment to work collaboratively with our team makes them a perfect partner."

Since the close of its debut fund in February of 2005 on $157 million, Praesidian Capital has established a strategy of partnering with strong co-investors and providing mezzanine capital to historically profitable middle market companies with talented management teams. The firm has closed nine investments since its inception, including two in the insurance category. Praesidian supported the management buyout of BenefitPort MidAtlantic, the leading provider of technology-based solutions for the group insurance and employee benefits industry, in April of 2005.

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 firmís approach is not driven by an industry focus. For more information, visit www.praesidian.com

About RAI Insurance Agency LLC
RAI Insurance Agency LLC provides administrative support and brokerage for the RAI Insurance Group including the placement, underwriting and qualification of new policies, medical examinations for the potentially insured, application and communications with Insurance providers, loan accounting, sales of "matured" policies into the "Life Settlement" policy market, and cash management.

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

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