ELIXIA (Austria & Germany)

May 26, 2009

      Compass Advisers, LLP ("Compass") is pleased to announce the following sale transactions:  ELIXIA Holding GmbH ("ELIXIA") was sold to a consortium of private investors led by David Turner and Allan Fisher and, separately, ELIXIA Austria GmbH was sold to Holmes Place Europe.

      ELIXIA is a premium segment health and wellness operator with 27 fitness clubs and approximately 82,000 active members in Germany, France, and Austria, mainly in Hamburg, Munich, Berlin, Lyon and Vienna.  The ELIXIA group was a portfolio company of Compass Partners International LLP ("CPIL"), a UK-based private equity firm affiliated with Compass Advisers.

      Compass assisted CPIL in initiating the accelerated, multi-stream sale process, contacting a large number of potential buyers, providing recommendations regarding offers received, negotiating the sale terms and the provision of a valuation memorandum evaluating the fairness of the final price.

      Frank Rudd, Director of CPIL, stated "Compass Advisers provided us with advice and counsel specific to our needs and objectives.  Their hands-on approach, disciplined execution and process insights led to very positive results.  We are pleased to have sold ELIXIA to partners with great strengths in the health and fitness sector, where the business will certainly continue to grow and flourish.  Compass Advisers helped us find the right fit, and managed and executed the sales process within a most challenging economic climate."