Phoenix Opens Dallas Office and Expands New York City Office

Wimmer Associates merges with Phoenix
PHILADELPHIA--(Business Wire)--
Lance Wimmer, a long time restructuring industry veteran has joined the firm and
become a Director in the New York office to broaden Phoenix`s New York City
presence.

Mr. Wimmer has over twenty-five years of senior executive and restructuring
experience and successfully built a significant practice. Earlier this year he
merged his Dallas based practice, Wimmer Associates, Inc., into Phoenix and he
led the opening of Phoenix`s Dallas office. Mr. Wimmer is responsible for
leading projects in all aspects of Phoenix`s services including both its
turnaround, crisis and interim management services as well as various capital
advisory services including M&A, restructurings and
recapitalizations/refinancings.

"I am thrilled to have Lance on board," said Phoenix Managing Director and
Shareholder Michael Jacoby. "Given his wealth of operational and restructuring
experience, he is able to assist with our current clients and manage the
increased activity we are experiencing."

Mr. Wimmer`s career has included a wide variety of roles such as: Board of
Director and CEO roles, corporate planning and strategy, marketing, operations,
M&A and finance across an expansive cross-section of business environments that
include Booz, Allen & Hamilton, US Steel, Swift and Lenox China, as well as a
multitude of public, private and family owned middle-market companies.

His broad ranging experience includes manufacturing, distribution, energy,
services, technology, consumer goods, retail and restaurant industry groups. His
restructuring experience has focused largely on financial, operational and
strategic assessments, CRO engagements and refinancings.

He graduated from Lehigh University with both Bachelors and Masters degrees in
Mechanical Engineering and later graduated from Carnegie Mellon with a Masters
in Industrial Administration (an MBA equivalent).

About Phoenix

Phoenix Management Services is an operationally focused advisory firm, providing
turnaround, crisis and interim management services to middle market companies in
transition. Since 1985, Phoenix has aggressively advocated on behalf of its
clients in over 900 assignments nationwide by providing tangible operating
solutions, effecting real change and performance improvement.

Phoenix Capital Resources specializes in providing capital advisory services to
middle market companies in transition. As an operationally focused firm, Phoenix
Capital assists distressed and growth-oriented companies with complex
transactions including re-financings, restructurings, capital raising, mergers
and acquisitions, recapitalizations and auctions in the context of a bankruptcy.
Phoenix Capital's mission is to maximize transactional value and return on
investment for its clients.

Phoenix Management Services
Michael E. Jacoby, 610-358-4700
mjacoby@phoenixmanagement.com

Copyright Business Wire 2009