Chessiecap Taps Jeff Bede to Augment Investment Banking Team

Contact:

• Douglas M. Schmidt
  Chessiecap, Inc.
  301-469-3181
  410-952-2789
  doug@chessiecap.com
• Liz Wainger
  Liz Wainger Communications
  301-340-6831
  301-461-3780
  liz@waingergroup.com

(December 10, 2003, Bethesda, MD) – Chessiecap, Inc., a firm created to address the need for a major technology investment bank in the Mid-Atlantic region, today announced that Jeff Bede has joined the firm as a Principal. Mr. Bede is an experienced investment banker and has spent much of his career raising private equity for growth and middle-market companies. Over the past five years, he has executed over 25 successful transactions raising more than $1.2 billion – the majority of which were in the IT space.

“Since our official launch in July, demand for our services has increased significantly – particularly in raising funds for growth companies. Jeff will provide key leadership in helping us serve this demand. His IT-related transaction experience and knowledge are first rate, and his specific expertise in the private placement process will provide Chessiecap with a unique advantage in the market,” said Doug Schmidt, CEO and Managing Director, Investment Banking, for Chessiecap.

Prior to joining Chessiecap, Mr. Bede was a co-founder and Principal at Capital Run LLC, a Seattle-based boutique investment bank that specializes in providing private equity, debt, and M&A advisory services. Mr. Bede has also worked for a number of investment banks including Prudential Securities, Volpe, Brown & Whelan, Dain Rauscher Wessels and Donaldson, Lufkin & Jenrette.

Mr. Bede holds Bachelors and Masters Degrees from Stanford University and an MBA, with honors, from the University of Chicago.

Chessiecap, Inc. is an investment bank that serves growth and middle market technology companies, as well as divisions of major corporations. The firm works with clients by focusing on critical transaction, strategic, and technology objectives. The firm’s mission is to increase enterprise value for its clients by providing services that drive growth in revenues and profits and provide a path to shareholder liquidity. For more information, visit www.chessiecap.com

Investment banking transactions are conducted through our wholly owned subsidiary: Chessiecap Securities, Inc. — Member NASD — Member SIPC — Copyright © 2004, Chessiecap, Inc. All rights reserved.