GRISANTI GALEF & GOLDRESS WINS THE TURNAROUND MANAGEMENT ASSOCIATION'S 2003 "TURNAROUND OF THE YEAR AWARD"; WINS AWARD FOR SECOND YEAR IN A ROW

The Atlanta chapter of the Turnaround Management Association (www.turnaround.org) has presented Lee N. Katz, Managing Partner, James G. Overley, Principal and Randall B. Katz, Principal of the corporate rescue and financial advisory firm Grisanti, Galef & Goldress, with "The Large Company Turnaround of the Year" award. The award is given to a crisis management firm for the most successful turnaround of a company whose revenues are $100 million or greater.

Grisanti, Galef & Goldress was bestowed with the award for its leadership in the turnaround of a natural gas marketing and fuel management company based in the Southeast. In its capacity as Chief Restructuring Advisor, GGG worked with management to return the client's business to profitability. GGG was active in managing relationships with the client's critical vendors and customers during a time that was marked by heavy operating losses. Additionally, GGG assisted the company in securing a $17.5 million credit facility to refinance existing indebtedness and provide working capital.

Grisanti, Galef & Goldress was previously awarded the Turnaround Management Association's 2002 "Turnaround of the Year" Award for the turnaround of a Midwest-based training company that offered seminars in business strategy and executive leadership.

Grisanti, Galef & Goldress (GGG) has long been recognized as a leader in corporate rescue. For over 40 years, GGG has professionally turned under-performing companies into high performance operations. By providing interim leadership and financial advisory services to companies in crisis situations, GGG has ensured the long-term viability of over 500 U.S. and international corporations. Each of our partners is an experienced CEO with a proven track record in successful corporate turnarounds. Our experience, coupled with our hands-on approach, makes GGG unique in the industry.

GGG has worked with the most recognized names in industry, merchant banking, and venture capital, representing a broad-cross section of industries and services. GGG serves clients with revenues over a billion dollars, as well as smaller firms, with the majority of our clients in the $50 million to $500 million range. GGG also advises creditor groups, including commercial banks, asset-based lenders and bond holders, to assess their debtor's financial and operating condition.

For more information, call Randall Katz at 678.488.9584 or visit our web site at http://www.gggmgt.com/. To have your name added or taken off GGG's update list, e-mail your request to .