NEW YORK (February 11, 2003) – Media merchant bank Veronis Suhler Stevenson has expanded its coverage of business information services with the addition of a new managing director, Michael Kessler, who spent a decade at CIBC World Markets helping to direct the firm’s business services and enterprise software units.

Mr. Kessler, 42, has been named a managing director with coverage responsibility for the firm’s business information services sector, which over the past 15 years has become a key focus for VSS both in its investment banking transactions as well as its private equity investments. Mr. Kessler has over 16 years experience in investment banking, most recently as a senior member of CIBC World Markets’ Enterprise Software and eBusiness Services group, where he primarily focused on business services and software-related transactions.

Mr. Kessler has specialized in the marketing information, payroll and human resources industries. He also has broad experience working with software and business services companies engaged in business process outsourcing, printing and document management; and marketing and information services. He has frequently worked with businesses seeking expansion capital, management buyouts, and private placements of debt and equity securities. He has completed over 30 financing transactions raising an aggregate of over $2.8 billion. Mr. Kessler has also closed 20 mergers and acquisitions transactions aggregating over $1.8 billion in value.

“The addition of Michael Kessler is a significant development in our coverage of the business information services industry,” said Scott Troeller, partner at VSS. “Michael has a longstanding knowledge of this market and the companies that comprise it, and his expertise will add value to our clients and help us identify attractive investment opportunities.”

VSS has long been an active participant in the BIS segment, as both a private equity investor and an M&A advisor. Some highlights include the recent sale by The Official Information Company, a VSS portfolio company, of its pre-employment screening business, Total Information Services, Inc., to US Investigations Services, Inc.; and the acquisition of Clipserver by Xtreme Information Ltd., a VSS portfolio company. VSS served as advisor to Dimac Marketing Partners in the sale of Palm Coast Data to Tinicum Partners LP; @plan.inc. in its sale to Doubleclick; and Competitive Media Reporting, formerly owned by VNU, to London-based Taylor Nelson Sofres.

Veronis Suhler Stevenson is a leading independent merchant bank dedicated to the media, communications and information industries. VS&A Communications Partners III, LP (Fund III) is the third private equity fund managed by Veronis Suhler Stevenson. Capitalized at $1 billion, it is one of the largest private equity funds dedicated exclusively to investments in the media, communications and information industries. Together with Fund III's predecessor funds, VS&A Communications Partners have invested in 29 platform companies across media segments and the realized and unrealized enterprise value of these investments total approximately $5 billion.

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