SageGroup Strategies Forms Coatings Industry Division to Help Troubled Coatings Companies Nationally and Internationally

Detroit, MI; Chicago, IL; and Alameda, CA - March 8, 2004. SageGroup Strategies announces that it has formed a major Coatings Industry Division to serve troubled coatings companies nationally and internationally.

SageGroup is the largest Professional Troubled-Company Specialist firm in the United States and the world, with over fifty Offices nationally and internationally, and with several more pending USA and foreign Offices. The Firm specializes in troubled companies and other complex situations. Its main objectives include to help such companies to: a) resolve their serious problems; b) reorganize and restructure in an optimal manner; c) obtain sufficient financing; and d) grow and develop further in a positive appropriate manner.

"SageGroup Strategies recognizes that the Coatings Industry has many troubled companies nationally and in many other countries", stated Ken Kinzler, a SGS Coatings Industry Division Co-Manager with over 30 years of executive and operational Coatings Industry experience. "SageGroup's staff includes several persons with much Industry and functional experience, all being available to quickly help troubled Coatings Industry companies to get out of trouble and moving forward well."

Terry Sheehan, another SGS Coatings Industry Division Co-Manager with over 30 years of executive and operational Coatings Industry experience, including 15 years of experience restructuring major-sized troubled companies both domestically and internationally, added, "Because SageGroup is a broad-based firm nationally and internationally, we are able to better help troubled Coatings Industry companies to determine and capitalize on their optimal opportunities both within the USA and in other countries worldwide."

Ralph Davis, a third SGS Coatings Industry Division Co-Manager with over 25 years of financing, financial, and related experience, added, "Most troubled Coatings Industry companies are short of cash and are having financial difficulties. SageGroup Strategies has strong capabilities to help these companies through a combination of reorganizational, management team strengthening, and other financing-related programs."

Another Division member is Thomas Murray, whose experience includes three years as managing director in turning around an industrial coatings company in Thailand. He stated, "The SGS Coatings Industry Division works closely with and is helped by many other parts of the Firm. SageGroup Strategies has been purposefully structured as a multi-dimensional organization, allowing various Firm entities to work together when appropriate, especially for the benefit of its clients. For example, a troubled coatings company could concurrently be helped in various aspects by SGS staff within: 1) the Coatings Industry Division itself; 2) one or more of the many SGS Offices geographically; and 3) one or more of the national or international SGS Functional Divisions, including the Financing, Global Sourcing, Trade/Barter, and Credit and Collections Divisions. And, SGS clients can also be helped by SGS introductions to many other organizations that have close working relationships with SageGroup, such as: a) various suppliers of debt and equity capital; b) CPA, legal, and other professional services firms; c) strategic-alliance partners; d) foreign entities; and e) appropriate others."

"Becoming a Coatings Industry Division client provides an opportunity for under-performing Coatings Industry companies to receive the support of a stronger hands-on management team," added Mr. Kinzler. "This complements and enhances organizational structures to provide a means to implement profitable operations through national and international development and expansion programs. Every successful company requires a strong and resourceful management team."

SageGroup offers a powerful large group of professionals who are experts at helping companies get out of trouble and move forward. SageGroup's staff includes over 600 highly-qualified specialists, including: financing and financial experts; troubled-company experts; turnaround experts; marketing specialists; CPAs; international business experts; attorneys; strategists; joint ventures, mergers, and acquisitions experts; technologists; trade/barter experts; global sourcing specialists; corporate executives; industry specialists; and many others.

SageGroup's staff has been involved in hundreds of difficult company situations, including: refinancings; turnarounds; crisis management; debtor programs; spin-outs; restructurings and reorganizations; and managed wind-downs and shut-downs.

The SGS Coatings Industry Division has at least one representative in each SGS Office nationally. For maximum confidentiality, initial inquiries from troubled coatings companies and their advisors can be directed to Larry Lindsey, a SGS Managing Director and a SGS Coatings Industry Division Co-Manager, at SGS's International Coordination Office, phone number (510) 865-2480. Mr. Kinzler and Mr. Davis can be reached directly at the SGS Detroit Office, 31628 Glendale Avenue, Livonia, MI 48150, phone number (734) 266-7245. Mr. Sheehan and Mr. Murray can be best reached through the ICO.