Batchelder Changes Name to Relational Advisors, Creates Relational Group with Three Operating Entities.

Business Editors

SAN DIEGO--(BUSINESS WIRE)--Feb. 11, 2003

Name Reflects Hands-On Approach With Major Clients, Investment Success

with $1.7 Billion Portfolio

The Principals of Batchelder & Partners, Inc. ("B&P"), a firm nationally recognized for its success in providing financial advisory services in some of the nation's most complex merger and acquisition transactions and shareholder matters, have formed Relational Group, incorporating their financial advisory, investment management and private equity services within one organization.

As part of the new structure, B&P, founded in 1988, has changed its name to Relational Advisors LLC, adopting the name of its sister company, Relational Investors LLC, the management firm founded by the Group's Principals in 1996 and which currently has $1.7 billion under management. The third entity in the Relational Group is Titan Investment Partners LLC, a private equity fund founded in 1999.

Joel L. Reed, a Principal of Relational Advisors, said the new name will help forge a single brand identity for its advisory and investment services while reflecting the organization's culture and philosophy of building long-term relationships.

The Relational Principals possess experience in top operating and executive roles in Fortune 500 and closely held companies, have arranged billions of dollars in financing and have helped companies of all sizes create shareholder value. "We have experienced significant growth based on our expertise and hands-on approach," Reed said. "This has been particularly successful in special and distressed situations where Relational Group can draw from its decades of experience to effect positive change."

Relational Advisors' recent engagements have included mergers and acquisitions, recapitalizations, corporate restructurings, commercialization strategies, turnarounds, Chapter 11 reorganizations, corporate governance, business planning, proxy battles and financings.

Reed said the firm's expertise and approach were brought into play most recently to advise Enron Corporation in its Chapter 11 reorganization. Relational Advisors assisted in developing business strategies designed to maximize the value of Enron's core assets and enhance recovery for its creditors. The firm also advised on bankruptcy and disposition matters.

Although a boutique firm that is not based on Wall Street, Relational Advisors has enjoyed major client assignments over the years. Names have included USA Waste Services, Inc., Mac Frugal's Bargains -- Close-Outs Inc., Morrison Knudsen Corporation, Beckman Instruments, Inc., Santa Fe Pacific Gold Corporation, Forest Oil Corporation, and The Titan Corporation.

Relational Investors, its sister company, identifies undervalued and under performing public companies, makes minority equity investments and works proactively with management and the boards of directors to address performance issues. The fund has grown from $200 million in 1996 to more than $1.7 billion today. Selected catalyst investments have included Apria Healthcare Group Inc., Dial Corporation, Mattel, Inc., Storage Technology, Tandy Corporation, Tektronix, Inc. and Waste Management, Inc.

The third entity, Titan Investment Partners, is a small private equity fund focused on late development stage companies in need of both capital and board or management resources.

Principals of the Relational Group are David H. Batchelder, Joel L. Reed, Ralph V. Whitworth, and James J. Zehentbauer. The Relational Group is based in San Diego and has grown consistently since its founding in 1988 based on its philosophy of proactively working with a select number of clients to create value. Relational Advisors Web site is at www.relationaladvisors.com, the Relational Investors Web site is at www.rillc.com and Titan Investment Partners is at www.tipfund.com.