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<td class="newsHeadDate">July 11, 2005</td>
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<td align="left" valign="top" class="newsBody"><div align="left"><span class="newsBodyTitle">CHS Completes Major Equity Investment in American Asphalt & Grading Company</span></div>
<p>Code Hennessy & Simmons LLC ("CHS") today announced it has made a majority equity investment in American Asphalt & Grading Company ("AAG"), the leading provider of integrated infrastructure construction services to the Southern Nevada residential homebuilding market. AAG provides a suite of site development and preparation services including excavation, grading, paving, pavement maintenance and concrete placement for curbs, gutters and sidewalks.</p>
<p>Under the leadership of President and CEO Paul Robinson, AAG has evolved from a grading and paving contractor to a sophisticated provider of integrated construction services in the Southwestern United States. With strong economic and job growth, a favorable climate, affordable housing and no state income tax, Las Vegas has been among the fastest growing metropolitan centers in the United States for several years. Nevada has experienced the most rapid population growth in the United States for 18 consecutive years.</p>
<p>"Our partnership with CHS will allow AAG to serve our national home building clients better," said Robinson. "With CHS' support, we will cross-sell recently introduced service offerings, add additional complimentary services and expand our market presence in Phoenix and other high growth markets."</p>
<p>CHS Partner Richard Lobo said, "The residential infrastructure construction services market is rapidly growing and critical to home builders who are outsourcing an increasing share of non-core activities like site development. With sophisticated project scheduling and management information systems, a comprehensive service offering and a track record of outstanding results under the leadership of Paul Robinson, AAG is uniquely positioned to extend its leadership in the Southern Nevada market and successfully expand into other fragmented markets. We look forward to working with management to grow AAG organically and through strategic acquisitions."</p>
<p>For more information on AAG, please visit the company's website at <a href="http://aaandg.com/" target="_blank">www.aaandg.com</a>.</p>
<p>CHS is a Chicago-based private equity firm specializing in private equity investments and recapitalizations of middle market companies in partnership with management. CHS has formed five private equity funds and currently manages over $2.5 billion of capital. Funds for CHS' investment in AAG will come from Code Hennessy & Simmons IV LP, a $1.0 billion investment fund formed in 1999. For more information on CHS, please visit CHS' website at <a href="http://www.chsonline.com/" target="_blank">www.chsonline.com</a>.</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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