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Empire News: Press Release

Empire Investment Holdings Names Floyd Denison Chief Investment Officer

Fort Lauderdale, Florida, September 16, 2004 - Empire Investment Holdings has announced the appointment of Floyd G. Denison as its chief investment officer. As CIO, Mr. Denison will co-chair Empire's Investment Committee and have oversight over all corporate and portfolio investment policy and strategy.

"Floyd brings a wealth of executive experience, and an extraordinary financial background to our team," said David F. Alfonso, Empire's chairman and chief executive officer. "His highly regarded reputation and expertise will add significant value to our acquisition and growth plans." With over thirty years of private and public experience in asset management, mergers and acquisitions, treasury, and finance, Mr. Denison will serve multiple strategic roles for Empire and its portfolio companies, including: investment structuring, portfolio asset management, investment planning, banking relationships, corporate financing, and portfolio strategic planning.

Prior to joining Empire, Mr. Denison held several senior executive positions including: executive vice president and executive board member for Assurant Group, a $7 billion publicly held company, and with American Bankers Insurance Group, a $2 billion publicly held company, he held positions of vice president and controller, senior vice president of assets, liabilities, and cash management, executive vice president and director of corporate asset management, and executive vice president of finance.

Mr. Denison earned a bachelor's degree from Siena College, an M.B.A. in Accounting from Bernard Baruch College, and an M.A. from St. Johns University.

About Empire Investment Holdings

Empire Investment Holdings ("Empire") is a private investment firm focused exclusively on the acquisition and strategic management of non-core business units from the Fortune 1000. Empire adheres to a well defined and focused acquisition strategy that is driven by the firm's history in acquiring, operating and managing over 50 corporate divestitures across several industries. Empire's approach is specialized in addressing the complexities of acquiring non-core business units, as well as ensuring post close business continuity. Today, Empire’s portfolio is comprised of 7 operating companies, serving over 10,000 customers worldwide, with an international footprint of 25 facilities encompassing over one million square feet of space and over 1,000 employees.

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