Bedford Funding Recruits Experienced Software and IT Services Investment Banker Stephen B. Day as Senior Partner.

Company Deepens Leadership Team with Broad Technology and Transactional Expertise as it Targets Deals up to $3 Billion

WHITE PLAINS, N.Y. -- Bedford Funding, a private equity firm specializing in investment opportunities in the consolidating and fragmented technology sector, announced today the appointment of Stephen B. Day as Senior Partner. In his new role at Bedford Funding, Mr. Day brings 18 years of multi-disciplinary financial, accounting, operational and transactional experience from Bear, Stearns & Co., Goldman, Sachs & Co., Whitman Corporation and Deloitte & Touche, among other notable industry leaders.

Commenting on the appointment, Charles S. Jones, Managing Partner of Bedford Funding, said "As we pursue significant investment opportunities in the technology sector, we rely heavily on our team's deep understanding of the rapidly changing industry dynamics. Stephen's fundamental knowledge of the software and IT services industry segments, his ability to develop strategic insights for value creation, and his broad financial skill set make him an exceptional addition to the leadership team at Bedford Funding. I am delighted to have someone of Stephen's caliber and character."

Before joining Bedford Funding, Mr. Day was Managing Director and Co-Head of the Global Software Investment Banking Practice for Bear, Stearns & Co. where he worked with a range of software companies including Geac, IBM, Oracle, Red Hat, SAP, Symantec and Vignette, as well as private equity firms such as Golden Gate Capital, Texas Pacific Group and Bain Capital. It was while at Bear, Stearns & Co. that he worked closely with Mr. Jones, then CEO of Geac, to close a $1 billion transaction resulting in the sale of Geac in March of 2006.

"I join Bedford Funding with tremendous enthusiasm and look forward to working with Charles and the team to execute our strategy and to build a world-class private equity firm," said Mr. Day. "I have worked closely with this team over the past several years and have a great deal of respect for their turn-around operating track record in multiple industries - a record that has led to meaningful value creation for investors."

Prior to his experience at Bear, Stearns & Co., Mr. Day was Head of the IT Services Investment Banking Practice and Co-Head of the Software Investment Banking Practice for Goldman, Sachs & Co. during which time, he was responsible for client service and transaction execution for many industry leading technology companies including Accenture, Anteon, BMC Software, Cognizant, Cognos, CSC, IBM, Infosys, Internet Security Systems, Sapient and SRA International, among others.

Mr. Day received a BS in accounting from Indiana University and an MBA in International Business and Finance from the University of Chicago.

About Bedford Funding

Bedford Funding is a private equity firm specializing in investment opportunities in the consolidating and fragmented technology sector with an initial focus on the software and IT services sectors. The firm offers extensive strategic operating and financial management expertise and advice with the intention of providing exceptional performance and financial returns for its portfolio companies and its investors. Bedford Funding serves the IT and investment communities worldwide from its headquarters location in White Plains, NY.