Evergreen Pacific Partners News

March 03, 2005

Evergreen Pacific Partners Closes $275 Million Buyout Fund

Private Equity Fund Will Target Manufacturing, Distribution, Consumer Product and Media Companies in the West

Seattle, WA - March 3, 2005
- Evergreen Pacific Partners ("EPP"), based in Seattle, Washington, announced today it has closed its private equity fund of $275 million. The EPP fund will invest in traditional buyouts, management led buyouts, and growth equity investments involving private, traditional, middle-market companies in the Western U.S. and Canada.

Strong investor support for EPP is evidence of significant financial and economic opportunities in the West. EPP investors include foundations, endowments, corporate pension funds, public pension funds, fund of funds, and insurance companies, such as West AM, the Public School Employee Retirement System of Pennsylvania, The Duke Endowment, and Mass Mutual. Additionally, twenty-five predominately Pacific Northwest based CEO's and executives, who mostly overlap EPP's target industries, are investors in the fund.

"Our investment focus is highly disciplined and relies on our team's complementary skills and expertise," said T. J. McGill, one of three managing partners at EPP. "The Evergreen network runs deep in the Pacific Northwest and throughout the West. With over 6,000 companies in our target industries, located in the Western United States and two Western Canadian Provinces, we feel good about the opportunities for the companies we invest in, the fund, and our limited partners."

Evergreen Pacific Partners investments will target middle market companies -- those generating $25-$250 million in revenues. The plan, according to McGill, is to build a balanced portfolio of companies in four targeted industry groups:

·  Manufacturing/Distribution
·  Packaging
·  Media (Radio & Cable)
·  Consumer Products

"Evergreen Pacific Partners' vision is to build great companies," said Michael Nibarger, a Managing Partner at EPP. "Middle-market businesses often face considerable financial and operational hurdles. The industry experience and transaction skills of Evergreen brings significant value to the performance of these companies."

The U.S. Census Bureau reports that between 1996-2000, the region's growth rate was 7.96%. The 2000 U.S. Domestic Product for the West was $2.35 trillion, representing nearly 24% of total domestic product.

"Our objective is to make the companies we invest in bigger, stronger, and more profitable," said Tim Bernardez, a Managing Partner at EPP. "As owners of middle market companies consider strategic alternatives, Evergreen with its extensive operational experience is well positioned to be the partner of choice."

About Evergreen Pacific Partners

Evergreen Pacific Partners is a $275M private equity fund based in the Pacific Northwest investing in private, traditional, middle-market companies in Western North America. Evergreen Pacific Partners investments include traditional buyouts, management led buyouts, and growth capital opportunities. With a diverse and trusted team, Evergreen Pacific Partners brings significant operating and industry experience to investments, and utilizes a disciplined approach to origination, transaction execution and portfolio management. More information about Evergreen Pacific Partners can be found at www.eppcapital.com.

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