Ancora Announces Purchase of Cleveland Thermal Plant From Dominion.

CLEVELAND -- Ancora Management LLC announced today that it has reached an agreement to purchase the stock of Dominion Cleveland Thermal, Inc. from its parent company, Dominion. Under Ancora ownership, the business will operate as Cleveland Thermal and employ the existing management and employees in the continuing operation of the business. The transaction is subject to regulatory approvals and is expected to close in the fourth quarter of the year.

Charles Evans, Managing Member of Ancora commented, "We are excited about the opportunities that lie ahead with the acquisition of Cleveland Thermal. Cleveland Thermal plays a unique role in the downtown Cleveland energy market by providing complete heating and cooling solutions to customers, while eliminating the need for their investment in expensive building infrastructure. We look forward to joining the dedicated management and workforce of Cleveland Thermal and to participating in the life of the exciting and vibrant community that is Cleveland. With this acquisition, Ancora enters the district energy market with the intent to continue exceptional energy services to the customers in Cleveland and provide for the steady growth of Cleveland Thermal."

Ancora will augment and assist the current management and workforce of Cleveland Thermal in increasing the efficiency of the assets and expanding services to the downtown Cleveland energy marketplace, while assuring long-term environmental compliance. Marc Divis, the current general manager of Dominion Cleveland Thermal, will continue to be responsible for all day to day operations as President of the new Cleveland Thermal.

Ancora Management LLC is an investment management company that makes and manages investments for a private equity company in operating businesses such as Cleveland Thermal. Ancora is located in Greenwich, CT.

The transaction is an all cash transaction and the purchase price has not been disclosed.