GRAND RAPIDS, MI (August 6, 2004) Bridge Street Capital Partners, together with Stanhope Capital Partners, announced today that they, in partnership with management, have acquired Jacob Ash Company. Jacob Ash designs, sources, merchandises and distributes specialty, seasonal winter apparel, selling primarily to leading national retailers including mass merchants, department stores, and sporting goods. Its products are predominantly private label, although Jacob Ash utilizes its own brands in certain product categories. Current management, along with all existing employees, will continue to operate the business on a day-to-day basis. Jacob Ash is located in McKees Rock, Pennsylvania.

Bridge Street Capital is a newly formed private equity fund investing in middle market companies throughout the Midwest. Bridge Street Capital will primarily invest in profitable, growth companies that face a transition of ownership or are looking for growth capital, with revenues ranging from $5 - $50 million. Bridge Street Capital will partner with management teams in a broad range of industries, including industrial manufacturing, distribution and logistics, consumer products, healthcare and business services. Bridge Street Capital has offices in Grand Rapids, Michigan and Chicago, Illinois.