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Empire News: Press Release

Empire Investment Holdings Expands Managment Team

Fort Lauderdale, Florida, October 11, 2004 - Empire Investment Holdings has announced a key executive appointment as it continues to position the firm to execute on its investment plans. Michael T. Greif has been appointed senior vice president and general counsel.

Mr. Grief joins Empire with over twenty-five years of legal and corporate experience focused on transaction law, commercial lending, employment law, securities, corporate affairs, and contract law. In his role as senior vice president and general counsel, he will be responsible for corporate governance and all legal affairs for Empire and its portfolio companies. Prior to joining Empire, Mr. Greif held various executive positions, including general counsel, secretary and vice president for Willow CSN and partner in prominent national and Miami based law firms.

"We are excited to welcome an individual with strong executive management and operational experience to our firm," said David F. Alfonso, Empire's chairman and chief executive officer. "The addition of Michael to our team reinforces the commitment we have made to our investment strategy and our operational ability to unlock and enhance value in our investments."

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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