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New York, N.Y. August 7, 2003 – Tinicum Capital Partners, L.P. announced today that it had purchased Hallmark Data Systems, including its subsidiary Bellevue Data Communications, from SourceLink, Inc. for an undisclosed sum. Hallmark is the market leader in fulfillment services for business-to-business publishers. Bellevue is a premier provider of database and Internet solutions for publishers. Tinicum also owns Palm Coast Data LLC, a leading supplier of fulfillment services to consumer magazines. “We’re excited to join with management to acquire Hallmark and Bellevue,” said Bob Kelly, a partner at Tinicum, Chairman of Palm Coast Data, and the new Chairman of Hallmark and Bellevue. “The investment complements our investment in Palm Coast, and strengthens and deepens our commitment to providing the best and most complete fulfillment services in the industry.” “We have no plans to make any operational or management changes. We plan to operate Hallmark and Palm Coast independently, as ‘sister’ companies that cooperate to best serve customers,” said Kelly. “Because they will operate separately, there will be no distractions and no loss of focus on either company’s commitment to providing outstanding customer service. Because they will cooperate, customers can anticipate enhanced services from each over time,” Kelly said. “At the same time, we will seek seamless coordination between the activities at Hallmark and Bellevue,” Kelly continued. Jim Kuchinsky, President and CEO of Hallmark stated, “We’re quite pleased to have Tinicum as our new owners, and Palm Coast as a new sister company. Tinicum has pledged to invest significantly to support our continued growth, as they have done in Palm Coast.” Ray Miller, Chairman of Hallmark said, “I’m especially excited by the prospect of being able to offer customers effective solutions for both their controlled and their paid titles.” “The combination of companies is terrific, and creates tremendous opportunity for all of us,” said Steve Schippers, President and CEO of Bellevue. “Tinicum’s purchase of Hallmark and Bellevue makes the group that much stronger,” said John Meneough, President and CEO of Palm Coast Data. “I look forward to working with Jim, Ray, Steve and their team. Hallmark and Bellevue’s ability to integrate databases, provide on-line access to file data in real time, and to create complete CRM solutions for its customers will be attractive to Palm Coast’s customers,” said Meneough. Hallmark Data Systems performs circulation fulfillment/data management for more than 300 business publications, most with circulations that are audited by ABC or BPAI. Hallmark is committed to excellence in subscription fulfillment, CRM, customer service, and application development. Hallmark is a member of the Audit Bureau of Circulations, American Business Media, and BPA International. Hallmark is located in Skokie, Illinois. Bellevue Data Communications, located in Bellevue, Nebraska, specializes in Internet and database technologies. Its services include customer relationship management solutions, circulation management systems for the publishing industry, bulk email delivery and newsletter services, and secure electronic commerce web sites. Palm Coast Data, located in Palm Coast Florida and wholly owned by Tinicum and management since April 2002, is a leading fulfillment and response management company with especially strong market positions in the consumer magazine publishing industry and the association market. Tinicum Capital Partners, L.P. is a New York-based partnership with committed capital of $272 million. Tinicum, which invests in both control and minority stakes in both private and public companies, focuses on creating equity value by growing and improving the operations of its portfolio companies. SourceLink was represented by Veronis Suhler Stevenson in its sale of Hallmark to Tinicum. Contacts:
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