ANNOUNCEMENT – June 18, 2004

STI Holding, LLC Announces Acquisition Of Canal Street Talent

Deal combines nation’s two largest executive talent representation firms

LOS ANGELES, Calif. June 18, 2004 – STI Holding, LLC today announced its agreement in principal to acquire Canal Street Talent. The transaction combines the nation’s two largest firms solely focused on representing “A-Player” senior business executives. Terms of the transaction were not released.

Both firms are widely considered pioneers in the executive talent management category. Unlike traditional recruiting firms that represent companies and their vacancies, STI and Canal Street Talent represent the executive talent. Because it’s lonely at the top, executives now have unlimited access to a personal agent.

Since 1996, STI has served the Los Angeles and New York markets; since 2002, Canal Street Talent has served the San Francisco and Silicon Valley markets. Under terms of the combination, STI will serve existing Canal Street Talent clients, corporate contacts, and executive recruiters. The combined firm will operate under the STI brand name.

STI Chairman and Founder, Neal Lenarsky said, “This acquisition solidifies our position as the leader in this rapidly-growing category. For years, Hollywood actors and professional athletes have had agents to manage their careers. Now, top-performing business executives do, too.”

Jeffrey Hyman, Chief Executive Officer of Canal Street Talent, said, “We couldn’t imagine a more ideal business combination. STI and Canal Street Talent have paved the way by signing and representing hundreds of talented executives in new roles. The opportunity to become a truly national firm is something we couldn’t resist.”

Hyman remains an advisor to the firm and is joining another company in a full-time executive capacity, to be announced separately. STI intends to add another Partner based in the San Francisco Bay area.

STI Chief Executive Officer Adam Bauman concluded, “STI works with A-Player executives to plot a career strategy, find the right next role, and increase personal brand visibility. STI has helped executives move within their own industries and across industries. The acquisition of Canal Street Talent adds the high-technology sector to our arsenal.”

About STI Holding, LLC

STI is an independent deal-making and executive talent management entity specializing in the representation of senior management. While serving as trusted advisors to executives in all industries, STI’s primary areas of focus include entertainment, publishing, fashion and retail.

About Canal Street Talent

Canal Street Talent is a talent management firm for “A-Players” in business who want to accelerate their careers. The firm represents a select group of Vice Presidents and Chief-level executives in the San Francisco Bay area and primarily serves the high-technology industry.

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For more information:

Name: Stacey Normandy

Phone: (323) 460-7139

Email: sti@sti-1.com

Web: www.sti-1.com