First Capital Group's management team has combined experience of over 70 years investing in companies in a variety of businesses and industries, working with the management of those firms to help achieve maximum enterprise value. First Capital Group does not become involved in day-to-day operations of portfolio companies; however, its principals utilize their past business and operational experiences as active, informed board members, providing assistance to management to help establish and achieve corporate goals and contributing strategic advice on financial and management issues. The firm's principals have diverse management experiences in a variety of companies, giving them a unique ability to relate to entrepreneurial management teams.

Jeffrey P. Blanchard, Founder and Managing Member, has over 30 years of experience in private equity and venture capital investing. In 1984, Mr. Blanchard founded First Capital Group upon the formation of First Capital Group of Texas, Ltd., a private equity investment partnership, and served as its general partner. Mr. Blanchard co-founded First Capital Group of Texas II, L.P., in 1994, and First Capital Group of Texas III, L.P., in 2000. He serves as a managing member of First Capital Group Management Company, LLC, which oversees all of First Capital Group’s investment funds. Prior to the establishment of First Capital Group, Mr. Blanchard held senior management positions with First Dallas Capital Corporation from 1979 to 1981, and Rust Capital, Ltd., an Austin, Texas-based venture capital firm, from 1981 to 1983. In addition, he was also responsible for managing the investment activities of Victoria Capital Corporation, the venture capital subsidiary of Victoria Bankshares, Inc., from 1989 until it was sold to Norwest Bank in 1994. Mr. Blanchard also served in an operating position with a distressed portfolio company, Tescorp, Inc., and served as its Chief Operating Officer and Chief Financial Officer from 1982 to 1983, and as President of Baseball Express, another portfolio company, from 2002 to 2004. Mr. Blanchard earned B.B.A. and M.B.A. degrees from The University of Texas at Austin. In 1989, Mr. Blanchard was chosen as Entrepreneur of the Year™ in South Texas by Ernst & Young and INC. Magazine. He is active in local and statewide activities, having served on the boards and/or committees of the Texas Capital Network, the Greater San Antonio Chamber of Commerce, two non-profit school boards, and as President of a local historical association. Mr. Blanchard has invested in a wide variety of companies and industries, including information technologies, telecommunications, data communications, broadcasting, manufacturing, and companies engaged in catalog, business-to-business, and Internet distribution. Mr. Blanchard currently serves on the boards of several First Capital Group portfolio companies. jpblanchard@firstcapitalgroup.com

James A. O’Donnell, CFA, Managing Member, has over 30 years of experience in private equity and venture capital investing. He joined First Capital Group in 2001 to work with Mr. Blanchard in the management of its investment activities. Prior to joining First Capital Group, Mr. O’Donnell was a partner of Cravey, Green & Wahlen, an Atlanta-based private equity investment firm, from 1995 to 2001. From 1989 to 1995, he was a general partner of O’Donnell & Masur, L.P. and Sherry Lane Partners, L.P., both venture capital investment partnerships. From 1980 through 1988, Mr. O’Donnell was with First Republic Venture Group and its predecessors, InterFirst Venture Corporation and First Dallas Capital Corporation, serving as President and Chief Executive Officer from 1983 to 1988 and as Senior Vice President and Manager of the Corporate Finance Department from 1981 to 1982. Mr. O’Donnell also served as a Regional Investment Manager for The Equitable Life Assurance Society of the U.S. He holds a B.A. from Rhodes College and an M.B.A. from the Wharton School of the University of Pennsylvania, and is a Chartered Financial Analyst. Mr. O’Donnell has invested in a broad range of companies and industries, including broadcasting, telecommunications, cable television operations and equipment manufacturing, publishing, medical equipment manufacturing, chemical manufacturing, general equipment manufacturing, and business-to-business and retail distribution and services. He serves on the Board of Trustees of Rhodes College and as a director of several First Capital Group portfolio companies. jaodonnell@firstcapitalgroup.com

Messrs Blanchard and O’Donnell first became associated in 1980 while both were employed at First Dallas Capital Corporation. Their business relationship, through continuous co-investments, and their friendship have spanned over 25 years. They are equal owners of First Capital Group Management Company, LLC, the entity that manages all of First Capital Group’s investments, and all investment decisions require their mutual approval.

Paul S. Williams, CFA, Principal, joined First Capital Group in 2002. He has over 20 years of experience, primarily focused in the financial services industries. Prior to joining First Capital Group, Mr. Williams held senior analyst and director positions with USAA Federal Savings Bank and USAA Investment Management Company from 1998 to 2002. From 1993 to 1998, he was a senior auditor with KPMG in the financial services practice group. During his tenure with KPMG, Mr. Williams spent two years abroad in the KPMG Prague, Czech Republic office, where he performed services for foreign investment funds, foreign and domestic banks, and corporate acquisition clients. Mr. Williams holds a B.S. degree in Accounting from Liberty University. Additionally, Mr. Williams is a Certified Public Accountant, a Chartered Financial Analyst, and a member of the CFA Institute and the American Institute of Certified Public Accountants. Mr. Williams serves on the boards of several First Capital Group portfolio companies as well as managing the financial reporting and compliance requirements to limited partners. Additionally, Mr. Williams serves on the boards and/or operating committees of several non-profit organizations. pswilliams@firstcapitalgroup.com