Clearview Capital, LLC

Whitney & Co. Partners With Clearview Capital
in $70 Million Investment in Compression Polymers Group
March 1, 2001

Whitney & Co, a leader in global alternative asset management, today announced that is has joined with Clearview Capital to invest $70 million in Compression Polymers Group (CPG), a privately held leader in the extruded plastics industry. The investment, which constitutes a majority interest in the company, is comprised of both equity and subordinated debt. The investment was made in partnership with CPG's existing management, who will continue to operate the company, and The Crane Group, a privately held management company that was the prior majority investor. The infusion of capital will provide ample resources to extend the company's presence in the marketplace.

Through its Compression and Vycom divisions, the Scranton, Pennsylvania-based Compression Polymers Group manufactures highly engineered extruded polyethylene, polypropylene and PVC/CPVC thermoplastic sheet products used primarily as metal and wood substitutes in a variety of applications and end markets. Product applications include outdoor trim moldings; playground equipment; chemical storage tanks; flameproof products for the semiconductor industry; waterproof products for the marine industry; and a variety of other industrial uses. The Comtec division fabricates bathroom partitions and lockers from sheet product manufactured by the Compression division.

"Compression Polymers Group is an industry leader in both technology and efficiency, and it provides product quality and diversity that is superior to the competition," said William F. Dawson, Jr., a Managing Director at Whitney & Co. "Because of this - and also because of the strength and experience of its management team - we believe CPG will likely capture many forthcoming market opportunities and continue its strong pattern of growth."

"Clearview Capital was attracted to CPG because it perfectly fits our model: superior management that has built a dominant market position," said James Andersen, Managing Partner of Clearview Capital. "We believe with this infusion of capital and the combined experience of Clearview and Whitney, CPG's management will be able to grow even more rapidly than it has historically in both sheet and fabricated products."