ELIXIA (Nordic)

September 29, 2006

      Compass Advisers, LLP ("Compass") is pleased to announce ELIXIA Holding GmbH's ("ELIXIA") sale of ELIXIA Nordic ASA, operating 24 fitness and wellness clubs in Norway and Finland, to Norway's leading private equity group, Norvestor Equity.  A market leader, ELIXIA was voted Best in Fitness Advice by the Consumer Council of Norway.  The company is renowned for offering a broad range of fitness services in ultramodern clubs, and is well-regarded for its skilled and motivated instructors and high-end equipment.

      Norvestor brings additional financial strength to further ELIXIA's growth, to continue the company's winning concept for quality fitness and wellness services.  The ELIXIA group was a portfolio company of Compass Partners International LLP ("CPIL"), a UK-based independent investment vehicle affiliated with Compass Advisers.

      Compass assisted CPIL in the transaction, performing due diligence, valuing the assets, identifying potential purchasers and evaluating the offers received, and negotiating the sale and transaction terms.  Compass provided strategic advice and facilitated the sale process, helping ELIXIA find an investment partner with fifteen years' experience developing leading Norwegian companies, and whose detailed knowledge about brand building and consumer-oriented businesses will enhance the value of this leading fitness chain.