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NEWSPRING CAPITAL ANNOUNCES INVESTMENT IN THERMACORE, INC.

RADNOR, PA, July 9, 2008 – NewSpring Capital, of Radnor, PA and Short Hills, NJ, announced today that NewSpring Mezzanine, the dedicated mezzanine fund of the NewSpring Capital fund family, invested $4.0 million in Thermacore, Inc. to finance a management-led buyout of the electronics cooling subsidiary of Modine Management Company (NYSE: MOD). NewSpring Mezzanine solely funded the mezzanine debt portion of the buyout while management, Argosy Partners and Penn Ventures led the equity financing. Senior debt financing was provided by National Penn Bank and Barclays Bank.

Headquartered in Lancaster, PA, Thermacore is a leading provider of highly-engineered thermal management solutions. The Company’s products are designed to transport and dissipate excess heat within high-end electronics and computer equipment. Thermacore was acquired by Modine in 2001 and operated as a wholly-owned subsidiary. The successful completion of this transaction has now returned Thermacore to being an independent, privately-held small business.

“Thermacore is intent on restoring the entrepreneurial spirit and smaller-market strategy that made the Company so successful last decade. We're excited about getting back to our roots as an independent firm focused on effectively supporting our customers,” said Jerome E. Toth, Chief Executive Officer of Thermacore. "The move back to a small business status will also help to facilitate a return to those markets where our customers value the performance we bring with our thermal solutions.”

“We are very excited about the future prospects of Thermacore and returning the business back to its core competency: highly-engineered thermal management solutions,” said Steve Hobman, Partner of NewSpring Capital. “Thermal management challenges are arising due to miniaturization of end-user applications. Products demand more superior and efficient thermal solutions which play well into Thermacore’s product offering.”

As part of this financing, Steve Hobman of NewSpring Capital will join Thermacore’s Board of Directors.

To learn more about Thermacore, please visit www.thermacore.com.