October 28, 2004

Post University is a 114 year old Regionally Accredited University

Generation Partners announced today that it has recently completed the acquisition of the assets of Post University (formerly known as Teikyo Post University) (the “University”), a 114 year old University located in Waterbury, Connecticut. The purchase was made through a newly formed corporation named Post Education, Inc., which is majority-owned by Generation Partners. Founded in 1890, the University serves over 1,400 full-time and part-time students through its main campus, four satellite locations and its online education programs. Generation Partners is a $325 million private equity firm headquartered in Greenwich, CT. Palm Education LLC and Dr. Tom Samph, the CEO of Post Education, are also a significant investors in the transaction. Financial terms of the transaction were not disclosed.

Post University, headquartered in Waterbury, CT, is a private institution which offers bachelor’s and associate’s degree programs to recent high school graduates and working adults in a number of areas including Accounting, Business Administration, Computer Information Systems, Criminal Justice, Early Childhood Development, Finance and Psychology. The University’s mission is to provide quality educational programs for its students that are responsive to employers needs delivered in convenient modes which lead to meaningful careers in business, technology, education and community and social services. The University is accredited by the New England Association of Schools and Colleges and the Connecticut Department of Higher Education.

Mark Jennings, Managing Partner of Generation Partners, said: “We are pleased to be involved with such a high quality institution and are very excited about the opportunity to return the University to local ownership. The University has excellent prospects and an outstanding management team, led by Dr. Tom Samph and Dr. Jon Jay DeTemple. We will work closely with management to help Post University achieve its long term goals.” Dr. Tom Samph, who recently joined the Post University team as Chairman and CEO of Post Education, Inc., is an experienced educator and entrepreneur. After receiving his PhD from the University of Michigan, Dr. Samph was a Professor at Syracuse University Graduate School. Since leaving Syracuse, Dr. Samph has been a highly successful business leader over a 25 year career at companies including Educational Testing Service; Assessment Systems, Inc.; PTS Learning Systems; and Drexel e-Learning. He has been named Entrepreneur of the Year by both Inc. Magazine and Ernst & Young. Dr. Samph stated “I’m very excited to join the Post team. We have an opportunity to do something important for this institution. We will focus on building the University’s programs, brand and reach with a principal goal of delivering continuous improvement in the quality and reputation of our educational programs.”

Dr. Jon Jay DeTemple, President of Post University said: “Our partnership with Generation brings the institution back to local ownership with a local Board of Trustees. This transaction will also provide us with greater access to capital to upgrade and expand our educational programs to better serve our students. We have been working with Generation for almost two years to accomplish this transaction and have developed an excellent relationship with them. We are thrilled to have established a partnership with such an outstanding group of people and are very excited about the future of Post University. “

About Post Education
Post University, a 114 year-old institution, is a regionally accredited, degree granting university offering classes on its 58-acre main campus in Waterbury, CT, through four offcampus “satellite” locations in Connecticut, and through an online degree program, which is believed to be the largest online program in the state of Connecticut. The University currently enrolls approximately 1,400 full-time and part-time students from 19 states and 35 countries.

About Generation Partners
Generation Partners is a $325 million private investment firm focused on providing equity capital to growth-oriented companies through buyout, growth equity, and venture capital investments. Some of Generation's portfolio companies include: MedVance Institute, Sterling Testing Systems, Agility Recovery Solutions, High End Systems, Hotjobs, Promatory Communications, The Platform for Media, and American Cellular Corp. The firm has offices in Greenwich, CT and San Francisco, CA. For more information about Generation Partners, please visit www.generation.com.