Ron Spogli Becomes the United States Ambassador to Italy

Los Angeles, July 31, 2005 - On July 31, 2005, Ron Spogli withdrew from Freeman Spogli & Co. to become the United States Ambassador to Italy.

"All of us at Freeman Spogli are extremely happy for Ron," said Brad Freeman, co-founder of Freeman Spogli. "With his fluency in Italian, he is extremely qualified for the position and he will serve our country well as Ambassador to Italy. We wish him the best in all his future endeavors."

About Freeman Spogli

Freeman Spogli & Co. (www.freemanspogli.com) is a private equity firm dedicated exclusively to investing and partnering with management in companies in the retailing, direct marketing and distribution industries in the United States. The firm's sector focus provides Freeman Spogli with a detailed knowledge and understanding of changes in consumer and business buying patterns, demographic trends, competitive dynamics and shifting distribution channels. Since its founding in 1983, the firm has invested $2.2 billion in 38 portfolio companies and is currently making investments from FS Equity Partners V, L.P., a $1.0 billion fund. Freeman Spogli has offices in Los Angeles and New York.

Contact:

Bill Wardlaw, Freeman Spogli & Co. 310-444-1825

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