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<td class="newsHeadDate">August 27, 2004</td>
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<td align="left" valign="top" class="newsBody"><div align="left"><span class="newsBodyTitle">United Central Industrial Supply Company successfully sold to The Riverside Company</span></div>
<p>Chicago, Illinois - Code Hennessy & Simmons III LP completed the sale of United Central Industrial Supply Company (“United Central”) to United Central Holding Company, an entity controlled by The Riverside Company, a New York-based private equity firm. </p>
<p>United Central, headquartered in Bristol, Virginia, began operating in 1974, and now employs approximately 190 people. Through seventeen distribution branches located in nine states, United Central offers its customers the most extensive selection of mining supply products in the industry, including more than 43,000 stock keeping units (“SKUs”) of roof control, conveyor and idler systems, safety equipment, mining bits, oil products, equipment parts, and other general mine supplies from over 800 manufacturers. United Central is the leading full-service, value-added independent open-market distributor of consumable mine supplies in North America. The Company distributes products to underground coal mines located throughout the Appalachian, Interior, and Western coal producing regions of the United States and Canada. Over the course of CHS’ ownership, the CHS investment management program resulted in the formalization of supply agreements with several major underground coal producers and the completion of an acquisition which expanded the Company’s geographic reach and customer base, and provided United Central with exclusive distribution arrangements with key suppliers in the industry.</p>
<p>According to Peter M. Gotsch, a Partner at Code Hennessy & Simmons LLC, “Thanks to the highly capable management team, United Central performed well throughout the general economic downturn and is poised for an exciting future in the resurgent coal industry.”</p>
<p>Darrell Cole, who assumed the role of President and Chief Executive Officer of United Central as a result of this transaction, remarked, “The close working relationship between the United Central management team and CHS was instrumental in creating shareholder value. This partnership jointly developed operational and financial objectives, and the entire United Central team worked tirelessly to successfully reach those objectives.”</p></td>
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<td colspan="7" class="footer">2010 CHS Capital™. All Rights Reserved. <i>Past performance is not necessarily indicative of future results.</i></td>
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