April 24, 2007

Blue Diamond Capital Hires Three Professionals – Expands Capacity

HARRISON, N.Y., April 24 /PRNewswire/ -- Blue Diamond Capital is pleased to announce the addition of three senior lending professionals in its Washington, California and New York offices. The new hires allow Blue Diamond to expand further into the asset based, restructuring and high yield loan markets for medium and small sized businesses.

Mary Kay Parsek joins as Senior Vice President. She will be primarily responsible for underwriting loans in the Blue Diamond portfolio, and will also provide asset management services. Parsek joins Blue Diamond after 7 years with the Bank of Montreal Special Assets Group. She brings extensive expertise in the underwriting and management of distressed assets. During her career, Parsek has worked with many companies to successfully restructure or refinance their debt. Prior to working in the special assets group, Parsek worked as a lender originating over $50MM in new loans. She is located in Kirkland, Washington.

Brent Edward Carey joins as Senior Vice President. His primary responsibilities will be originating high-yield senior and subordinated debt transactions, as well as non-performing and sub-performing loan acquisitions, and assisting with asset management. In addition, Carey will complement Blue Diamond's strategic financial and restructuring advisory services for middle- market commercial and industrial concerns. Carey joins Blue Diamond after 8 years with GE Capital where he originated middle market loan and lease transactions. He is located in Long Beach, California.

Jeffrey Koslowsky joins as Vice President. In his role, he will be primarily responsible for asset management of loans in the Blue Diamond portfolio, and will also provide underwriting and origination expertise. Koslowsky joins Blue Diamond after 12 years with Gerber Finance, and brings his extensive expertise in asset-based lending and trade finance to the Blue Diamond team. During his career, Koslowsky worked in marketing, underwriting, asset management, legal and workout. Prior to his career in the finance industry, Koslowsky worked as a litigator specializing in complex Uniform Commercial Code and employment disputes. He is located in Scarsdale, New York.

Blue Diamond Capital provides innovative and alternative debt financing to middle market borrowers across the entire credit spectrum. Blue Diamond's unique investment philosophy is based on restoring its portfolio companies to financial health, fostering growth and executing long term capital market solutions. Since the firm launch in April 2005, Blue Diamond has acquired over $75MM in performing and sub-performing loans, and has placed over $50MM in funded debt obligations with loan investors.

Blue Diamond Capital

CONTACT: Benjamin Bornstein, +1-914-630-4786, or Destry Toney,+1-425-823-2443, both of Blue Diamond Capital; Investor Relations-Communications, +1-914-552-0561, [email protected]

Web site: http://www.bluediamondcapital.com/