New York, NY, January 29, 2004—

Stonehenge Community Development, a subsidiary of Baton Rouge-based Stonehenge Capital Company, has received a $127.5 million allocation of New Markets Tax Credits to create the Stonehenge Capital / National Urban League Empowerment Fund. The allocation was announced today by Treasury Secretary John Snow in Racine, Wisconsin. The Empowerment Fund will make debt and equity investments in small businesses located in low-income communities nationwide. The Fund will be administered by Stonehenge, and will be operational and actively investing by year-end.

Tom Adamek, President of Stonehenge Capital Company, said, "This new fund demonstrates the power of partnership. By teaming with the National Urban League, we will be able to utilize the unique skill sets of both groups to make investments that will have an impact on the communities served."

"The creation of the Stonehenge Capital / National Urban League Empowerment Fund is part of our new effort to reinvigorate the economies of America's inner cites," said Marc H. Morial, President and CEO, National Urban League.

The New Markets Tax Credit program is administered by the United States Department of the Treasury. The program competitively awards applicants a 39% federal income tax credit based upon the amount of the Fund. Accordingly, Stonehenge Community Development was awarded $49.7 million of federal income tax credits that may be utilized over 6 years beginning in 2004. Stonehenge Community Development will use the credits to help capitalize the $127.5 million Empowerment Fund. More information on the program can be found at www.cdfifund.gov.

The Empowerment Fund will draw on the strengths of the two organizations. Through its 100+ offices nationwide, the Urban League will help locate small businesses in need of capital, while Stonehenge will apply its extensive investment experience to provide customized, below-market rate financing solutions. The Urban League will also provide financial counseling services to the businesses and communities funded.

Key parameters of the Empowerment Fund are as follows:

• The Empowerment Fund will invest 100% of its capital in small businesses located in low-income communities nationwide, prioritizing investments in "areas of greater distress" as defined by the Treasury.
• Investments will be in the form of customized debt and equity financing, coupled with high-quality financial counseling provided by the Urban League.
• The National Urban League will play a crucial role in the Fund, tapping its deep community roots to help Stonehenge locate investments, and providing high-quality financial counseling services to businesses funded and their surrounding communities.
• The Fund will be administered by Stonehenge and will be operational and actively investing by year-end. Businesses interested in receiving funding may contact Stonehenge Community Development at scd@stonehengecapital.com.