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Errol Antzis, Senior Media Industry Corporate Finance Executive, Joins Veronis Suhler Stevenson as Principal with Firm's Private Equity Unit, VS&A Communications Partners

NEW YORK (March 13, 2002) - Errol Antzis, a senior corporate finance executive with two decades of experience in financing media, entertainment and technology companies, has joined media merchant bank Veronis Suhler Stevenson.

Mr. Antzis, 44, becomes a Managing Director and Principal with the firm's private equity affiliate, VS&A Communications Partners, L.P., which since 1987 has been a prominent investor in media and communications-based companies. He joins the firm from GE Capital, where he was a Managing Director and head of the Structured Finance Group's media and entertainment effort.

Jeffrey Stevenson, a co-CEO of Veronis Suhler Stevenson and president and managing partner of VS&A Communications Partners, said that Mr. Antzis will help source and structure financings for new fund investments as well as add-on investments and transactions involving existing portfolio companies.

"Errol has structured transactions at all levels of corporate finance - senior and subordinated debt, mezzanine debt and direct equity - and he has worked with media companies at all ranges of maturity, from post-venture capital enterprises to mature conglomerates," Mr. Stevenson said. "His industry knowledge and financial skills make him a terrific addition to our private equity operations."

VS&A Communications Partners III, capitalized at $1 billion, is the fund's third communications industry-focused fund since 1987. Fund III has invested in seven platform companies in various industry segments since 1999; the companies have, in turn, made 27 add-on acquisitions, consistent with VSS's build-up strategy for its portfolio. Approximately half of Fund III's capital remains available for investment. Through its aggregate investments, VS&A Communications Partners is one of the largest media industry holding groups in the U.S.

"I have known Jeff Stevenson and others at Veronis Suhler Stevenson for many years, and our paths have crossed on numerous transactions. My background and experience will be an excellent fit with the pre-eminent firm in media and communications industry investing," Mr. Antzis said.

Mr. Antzis has covered the spectrum of media financings. During his time at GE Capital (1999-2002), he sourced and structured deals across the industry, with a focus on highly structured/high return transactions. Prior to joining EMX, he spent ten years with Banque Paribas (now BNP Paribas), where he founded and was Group Head of the institution's Media and Telecommunications Finance Group, and was responsible for the firm's loan and equity portfolios. That group made over $4 billion in commitments under Mr. Antzis.

From 1987-1990, Mr. Antzis was with the Bank of New York, serving as vice president of the Communications, Entertainment and Publishing division.

Mr. Antzis began his career at Chase Manhattan Bank in the early 1980s, providing financing to technology and media companies, including evaluation the technological and business factors affecting domestic and foreign companies.

Mr. Antzis, who holds a black belt in karate, earned an MBA in finance from New York University in 1982 and his B.S. from the Massachusetts Institute of Technology in 1980, with a major in electrical engineering and double minors in economics and music. He and his wife Deborah, an actress, live in New York City.

Veronis Suhler Stevenson is a leading independent merchant bank dedicated to the media, communications, and information industries. Since its formation in 1981, the firm has acted as financial advisor across the full spectrum of industry segments including Broadcasting, Cable & Satellite TV, Newspaper Publishing, Consumer Magazines and Books, Business Information Services, Professional, Educational & Training Media, Business-to-Business Communications, Advertising, Marketing Services & Specialty Media, and the Internet.

VS&A Communications Partners III is a $1 billion private equity fund affiliated with Veronis Suhler Stevenson.

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Contact: Allan Ripp
Tanya Dessereau

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