News

NewSpring Capital Closes 2007 with New Investment in Media Market Group

Radnor, PA, January 29, 2008 --- NewSpring Capital of Radnor, PA and Short Hills, NJ announced today that NewSpring Mezzanine Capital, the firm’s dedicated mezzanine fund, completed its latest investment in Media Market Group, LLC (“MMG”) of Los Angeles, CA with a closing on December 31, 2007. This represents NewSpring Mezzanine’s eleventh portfolio investment and fourth investment in 2007. NewSpring invested $4.3 million of subordinated debt and equity in the $9.1 million deal and was joined by CapitalSouth Partners and company management in the financing.

MMG, in conjunction with NewSpring's financing, used the capital to acquire the assets of Market E’s which sells hotel and travel package reservations through two website properties – www.hotelreservations.com and www.hotels-and-discounts.com. The Company is a leading affiliate of Expedia through which it gives hotel and travel consumers access to thousands of hotel and travel discounts.

“NewSpring Capital could not have been more responsive in its investment commitment to MMG. There was a very short timeline to bring this deal to closing before year-end and NewSpring was focused and skilled in making it happen,” said Robert Spears of MMG. “We are looking forward to working with NewSpring and Steve Hobman. Together with CapitalSouth Partners, we have a solid team upon which to build our future success.”

Steven Hobman, General Partner of NewSpring, added, “We are pleased to invest in Media Market Group and excited about the company’s potential to grow its core hotel reservation and travel business with consumers and businesses. In addition, we are excited to be working with CapitalSouth Partners on another transaction.”

About Media Market Group

MMG operates an online hotel and travel reservation company selling hotel rooms and other travel products direct to consumers and businesses. The Company generates sales through two websites: hotels-and-discounts.com and hotelreservations.com. The Company is a leading affiliate of Expedia through which it gains access to thousands of hotel and travel discounts. For more information on MMG, visit www.hotelreservations.com.