News

Lason, Inc. Announces Completion of Merger with an Affiliate
of Charterhouse Group, Inc.

Troy, Mich. - August 16, 2004

Lason, Inc., a national provider of integrated information management and business process outsourcing solutions, today announced that following its shareholder approval on August 11, 2004, an affiliate of Charterhouse Group, Inc. ("Charterhouse") has acquired Lason in a transaction valued at approximately $30 million. Lason will continue operations under the Lason name as a subsidiary of the Charterhouse affiliate, Charter Lason, Inc. ("Charter Lason"). The Company's existing management will continue to operate Lason and will have an ownership interest in the business.

Christopher Garcia, Principal of Charterhouse and Chairman of Charter Lason said, "We believe Lason has an excellent business platform and a solid vision for growth. We look forward to our new partnership and to supporting the Company's efforts to expand its business process outsourcing solutions across North America and enhancing its global footprint."

Ronald D. Risher, President and CEO of Lason, said, "Since Lason's announcement of its pending merger with Charter Lason, the Company has been able to close a number of new contracts and re-sign contracts with key existing customers. The recapitalization has now enabled Lason to further de-lever its balance sheet and we plan to continue to invest in our facilities and infrastructure. We look forward to new areas of growth and to constantly presenting best-in-class business process solutions to Lason's customer base."

William Landuyt, Senior Partner of Charterhouse, stated, "We are very excited to be partnering with Chris Garcia and the Lason management team and we envision multiple opportunities for disciplined profitable growth in this new chapter for Lason. This acquisition reflects our strong interest in the business services sector and our focus on identifying and backing quality operating partners."

With the completion of the merger, Lason has become a privately held company, with no public market for its stock. Lason has filed to deregister its common stock with the Securities and Exchange Commission and it will thereby cease compliance with the reporting requirements of the Securities Exchange Act of 1934, as amended.

Lason shareholders of record on August 12, 2004 will receive instructions from Charter Lason's paying agent, American Stock Transfer & Trust Co., on how to exchange their shares for the merger consideration. Lason shareholders, other than those members of existing management who will exchange their shares for an ownership interest in Charter Lason, will be entitled to receive the merger consideration of $0.125 for each share of their Lason common stock.

About Lason
Lason, Inc. enables organizations to secure their decisions and their future by improving business processes through outsourced services in industries that are data and document-intensive, such as the financial services, healthcare, government, manufacturing and industrial markets where accuracy, privacy and security are top concerns. Our customized solutions provide substantial and identifiable cost savings. With over 55 locations and facilities management sites in 22 states, India, China (service relationship), Mexico and Canada, Lason's integrated suite of solutions utilizes the latest technology surrounding data input, scanning, digital storage, retrieval and delivery of sensitive data and documents to increase the efficiency and effectiveness of back-office and administrative functions. For more information, please visit www.lason.com.

About Charterhouse Group
Charterhouse Group, Inc. is a private equity firm with over three decades of experience in building leading middle-market companies. Established in 1973, Charterhouse currently manages in excess of $1.4 billion in equity through several limited partnerships. Since its inception, Charterhouse has completed investments in over 80 platform companies with a focus in the business services, healthcare services and consumer sectors. For more information, please visit www.charterhousegroup.com.

Contacts:

Charterhouse Group:
David G. Hoffman, Partner, 212-584-3234