News

Charterhouse Group Announces Sale of Lason, Inc. to
Rustic Canyon II, LLC

Improvements to Business Result in 5x Return on Investment

New York, February 28, 2007

Charterhouse Group, Inc. ("Charterhouse"), the New York-based private equity firm that has been investing in U.S. middle market companies since 1973, today announced the sale of its portfolio company Lason, Inc. ("Lason") to Rustic Canyon II, LLC in a transaction valued in excess of $120 million.

Based in Troy, MI, Lason provides document-related outsourcing services within the rapidly growing business process outsourcing ("BPO") market. Lason's mission has been to deliver industry-leading BPO solutions to a broad customer base by combining business process and vertical market expertise with integrated, highly secure technology. Under Charterhouse's thirty month ownership period, Lason achieved significant growth in sales while markedly improving the quality and profitability of its business. Lason has become an innovator in creating customized solutions that deliver reduced costs and increased efficiencies for its customers within the financial services, healthcare services, government, e-publishing, automotive and other sectors.

The sale of Lason demonstrates the underlying value-creation fundamentals which result from applying Charterhouse's business model. Of key importance to this model is the pairing of a Charterhouse Entrepreneur with a strong management team to lead and further develop companies in growing industry areas within the Business Services, Consumer and Healthcare Services sectors. Charterhouse Entrepreneur and Principal Chris Garcia played a key role in leading the August 2004 acquisition of Lason and provided hands-on strategic guidance to the Company as Chairman.

Bill Landuyt, Senior Partner at Charterhouse, said, "We have been pleased to provide consistent financial and strategic support to our management partners as they successfully invested in opportunities for growth and increased profitability in North America, India and China. As a result of management's efforts and the dedicated work of Charterhouse Entrepreneurs Chris Garcia and Michael Angst, Lason's profitability has almost tripled since 2004 and the value created for Charterhouse's investors has been 5x the original investment."

"Our principal investment thesis was to identify a BPO platform with a management team committed to delivering customized process solutions to the global marketplace," Mr. Garcia stated. "By removing Lason's previous financial constraints and making the necessary investments in people, process and technology, we were able to significantly expand the Company's offerings while maintaining industry-leading quality and security standards."

Mr. Garcia added, "Charterhouse's partnership with management has brought our collective strategy to a very successful conclusion for all involved. We wish Lason CEO Ron Risher and his entire team continued success and we extend our great appreciation for their dedication and accomplishments over the last several years."

Proskauer Rose LLP served as legal advisor to Charterhouse and Lason in connection with the transaction.

About Charterhouse Group
Charterhouse Group, Inc. is a private equity firm that has been active for over three decades in building leading middle-market companies. Established in 1973, Charterhouse has invested over $2 billion in equity through several limited partnerships. Since its inception, Charterhouse has completed investments in over 100 platform companies with a focus in the Business Services, Healthcare Services and Consumer Products & Services sectors.

For more information on Charterhouse, please visit www.charterhousegroup.com.

Contacts:
Charterhouse Group:
David Hoffman, Partner, (212) 584-3234
Dan Jacobs, Broadgate Consultants, LLC, (212) 232-2227

Charterhouse Group, Inc.
535 Madison Avenue (at 54th St.)
28th Floor
New York, NY 10022-4299
T: (212) 584-3200
F: (212) 750-9704
www.charterhousegroup.com