CERBERUS CAPITAL MANAGEMENT ACQUIRES

TOREX RETAIL

NEW YORK, June 19, 2007 – On June 19 2007, Cerberus European Investments, LLC (“Cerberus”) purchased all of the businesses and trading subsidiaries of Torex Retail (together the businesses), through Torex Retail Holdings Limited (“Torex Retail”), an acquisition vehicle owned by Cerberus.

The businesses were acquired for £204.4 million, in addition to which Torex Retail assumed associated subsidiary company liabilities, and includes all of the subsidiary companies, including the Retail, Hospitality and Petrol and Convenience Divisions. Collectively, the businesses represent a pool of highly skilled professionals globally, a broad customer base, and a number of market leading technology products that provide IT solutions for retail, hospitality, gaming, petroleum, convenience and other industries.

The transaction was structured to enable Torex Retail to advance its strategic objective to consolidate and grow its position as a leading independent supplier of retail software and services globally, and without assuming any of the legal, investigative and business issues that impacted the former holding company. Going forward, Torex Retail management will also focus on investment in business integration and consolidation, which will help drive quality of service, speed of delivery and capacity management.

At the time of the acquisition, Torex Retail Chairman and CEO Michael Greenough said, “We are delighted with today’s announcement and the strong financial foundation it will provide Torex Retail to pursue its business strategy. The Torex Retail platform has a tremendous product suite, world class customers and a global footprint, and we are excited about focusing on our future opportunities. We remain committed to our customers and continuing to build lasting relationships with them, as we work to enhance value for all of our stakeholders.”

The completion of the transaction also provided financial stability to put Torex Retail on the right path for future growth, for the benefit of the company’s customers, employees, suppliers and business partners.

About Torex Retail – www.torexretail.com Torex Retail is a leading independent provider of cutting edge retail technology solutions to many of the world's principal retailers. Torex Retail has achieved rapid growth across all of its markets and has rigorously pursued its goal of becoming the provider of choice. As a result, the company now has a presence in all of the major markets around the world and has built a strong platform for future growth in line with its strategy. Torex Retail's product and solution set spans high street and out-of-town retail as well as the petroleum and convenience sector and with over 6,000 customer relationships, including McDonalds, Tesco, Argos, Vodafone, Harrods, Schlecker, LIDL, Edeka, Ann Taylor, Safeway, Stein Mart, Mitchells & Butlers, Somerfield and Waitrose. The company has earned a leading reputation amongst retailers.

About Cerberus Established in 1992, Cerberus Capital Management, L.P. is one of the world’s leading private investment firms with approximately $25 billion under management in funds and accounts. Through its team of more than 275 investment and operations professionals, Cerberus specializes in providing both financial resources and operational expertise to help transform undervalued companies into industry leaders for long-term success and value creation. Cerberus is headquartered in New York City, with affiliate and/or advisory offices in Atlanta, Chicago, Los Angeles, London, Baarn, Frankfurt, Tokyo, Osaka and Taipei. More information on Cerberus can be found at www.cerberuscapital.com.

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