Code Hennessy & Simmons LLC is pleased to announce the promotion of Steven R. Brown, David O. Hawkins and Richard A. Lobo to Partner from Managing Director effective 12/4/03.

Mr. Brown joined CHS in 1994 and has held various positions within the organization. While at CHS, Steve has been a key contributor to many successful investments including Cerex Advanced Fabrics L.P., Norse Dairy Systems L.P., Monona Wire Corporation and CII Technologies, Inc. Some of Steve’s most recent accomplishments include leading the sale of Weasler Engineering, Inc. which resulted in a substantial gain for Fund II, and closing Fund IV’s investment in Otis Spunkmeyer, Inc. He serves on the Board of Directors of Otis Spunkmeyer, Inc., Berkline/Benchcraft Holdings LLC and Hunt Valve Company, Inc. Prior to joining CHS, Steve worked at Heller Financial in various capacities. Mr. Brown holds a B.B.A. degree from the University of Michigan and an M.B.A. from Northwestern University.

Mr. Hawkins joined CHS in 1995 after beginning his private equity career at Heller Equity Capital Corporation. While at CHS, Dave has played a significant role with new investment opportunities and helped senior management grow portfolio companies through internal expansion and industry consolidation. Recently, Dave directed the sale process for Utiliserve, Inc. and Stronghaven, Inc., resulting in significant gains for CHS. He was a Board member at Jeffrey Chain, L.P., and currently serves as a Director of Tharco Containers, Precise Technology, Inc. and Kranson Industries, Inc. Prior to becoming involved in private equity investing, Dave was a commercial lender with Chase Manhattan Bank and Heller Financial, Inc. He received a B.S. degree from Indiana University and an M.M. from Northwestern University.

Mr. Lobo has held various positions within CHS since joining the firm in 1993. He has been actively involved with many of the firm’s successful investments including Omega Cabinets LTD., Inc., Associated Building Systems, Inc. and Auto-Shade LLC and, most recently, completed the sale of Corporate Benefit Services of America, Inc. in a transaction that resulted in an attractive gain for Fund III. Mr. Lobo currently serves on the Board of Directors of Mail Contractors of America, Inc, Houston Wire & Cable Company and Western Nonwovens, Inc. Prior to joining CHS, Mr. Lobo served as a Financial Analyst with Nagelvoort & Company, a private investment banking firm headquartered in New York. Mr. Lobo holds a B.S. degree from Georgetown University and an M.B.A. from Northwestern University.