Praesidian News

Media Contact: Dan Jacobs
Broadgate Consultants LLC
Phone: 212-232-2227

Praesidian Capital Funds Growth of High End Fitness Club
Leading Mezzanine Firm Has Invested $7.3 Million in David Barton Gym to Aid Expansion to Miami and Chicago

NEW YORK – August 29, 2006 – Praesidian Capital Investors, a leading provider of mezzanine debt to middle market companies, has completed its fourth investment in Club Ventures Investments LLC, owner of David Barton Gym, bringing the total amount invested since August 2005 to $7.3 million. The proceeds of Praesidian's add-on investments have funded development of distinctive new David Barton Gym locations in Chicago and Miami as well as general corporate purposes.

David Barton Gym, the premier boutique gym group, operates fashionable gyms and provides industry-leading innovative personal training services in New York, Miami and Chicago. The gyms blend David Barton Gym's substantial propietary excercise-science knowledge-base and exceptional yet easygoing service with stylish settings that embrace design and attitude reflective of distinct neighborhoods and the affluent and trendsetter clienteles. Distinctive locations include the Delano hotel and the soon-to-open Hotel Gansevoort South in Miami Beach, the landmark Montgomery Ward & Co. Catalog House in River North in Chicago, and the historic Chelsea 23rd Street YMCA buildings and a chic 85th and Madison loft in Manhattan.

"David Barton Gym's industry-leading focus on results-oriented personal training, strong boutique brand distinct among health clubs, and proven management team position the company well in the expanding upscale gym category," said Ted Koch, Managing Partner at Praesidian.

"The new clubs in Chicago and Miami are keystones of David Barton Gym's multi-city development strategy," said Mark Berkowitz, CFO of Club Ventures Investments.

Since the close of its debut fund in February of 2005 on $157 million, Praesidian has established a strategy of providing mezzanine capital to historically profitable middle market companies with talented management teams throughout the United States. The firm has invested in eleven separate companies and has completed five add-on investments in existing portfolio companies. Most recently, Praesidian helped to finance the July 2006 recapitalization of CODi, Inc., a leading provider of notebook computer carrying cases to Fortune 500 companies, and the July 2006 recapitalization of Davis Inotek Instruments, a world leader in distribution and calibration of test, measurement and control instrumentation, which supported the company's acquisition of General Electric's calibration and repair business.

About Praesidian Capital Investors
Praesidian provides mezzanine debt to middle market companies. The firm provides capital for established, historically profitable companies, as well as for management/leveraged buyouts, recapitalizations and refinancings. Investments are focused on successful businesses in the manufacturing, distribution and service sectors, although the firm's approach is not driven by an industry focus. For more information, visit www.praesidian.com.

About David Barton Gym
From Wall Street deal-makers, entrepreneurs and fashion editors to actors, artists and models, David Barton Gym's diverse members comprise movers, shakers and trendsetters of the world.  The extraordinary David Barton Gym trainer corps — meticulously chosen and uniquely dedicated — delivers matchless results shaping the most beautiful bodies. Above all, David Barton maintains the atmosphere of his gyms should be fun, a place and time to which people look forward, the one part of the day when they do something entirely for themselves.  The high energy at David Barton Gyms — called "nightclubs of the new century" by a noted nightclub owner — makes a workout at a David Barton Gym an experience unto itself. For more information, please visit www.DavidBartonGym.com.

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