Chrysalis Capital Partners Acquires Plymouth Rubber.

PHILADELPHIA -- Chrysalis Capital Partners (www.ccpfund.com), a private equity firm focused on distressed and 'special situation' investments, has announced the acquisition, through an affiliate, of Plymouth Rubber Company Inc. and its subsidiary, Brite-Line Technologies, Inc. Plymouth Rubber is a leading designer and manufacturer of high quality PVC and rubber tapes for use in the automotive industry, as well as in other specialty applications, while Brite-Line designs and manufactures high-quality rubber reflective highway marking tapes and materials. E[acute accent]Chrysalis closed the acquisition after the Company's joint plan of reorganization was approved by a U.S. Bankruptcy Court in Boston, Massachusetts. To complete the transaction, Chrysalis provided new equity, arranged senior exit financing from Wells Fargo Business Credit, Inc. and negotiated consensual settlements with certain pre-petition creditors. E[acute accent]"We are very pleased to work with the Chrysalis team on this transaction," says Maurice Hamilburg, President and Chief Executive Officer of Plymouth Rubber, who is investing in the transaction alongside Chrysalis and will remain Chief Executive Officer of Plymouth Rubber. "We were initially impressed by their quick insights and decisiveness, coupled with their knowledge and experience in the complex bankruptcy procedures needed to address the company's financial issues. As the transaction continued, our confidence was increased by the speed at which Chrysalis engaged our company, negotiated agreements with the interested third-parties, and focused its efforts on devising plans for constructive operational change that can be implemented while maintaining full service to our customers." E[acute accent]"This transaction is a solid fit with our investment rationale," says Greg Segall, Managing Partner of Chrysalis. "We quickly recognized the strong underlying business at Plymouth Rubber and Brite-Line as well as the opportunity in partnering with its management team to take the company out of bankruptcy and pursue operational improvements. We look forward to working with management as they continue to execute on their business plan." E[acute accent]Plymouth Rubber has already relocated its U.S. vinyl tape manufacturing operations to its joint venture in China, and plans to shift its U.S. rubber tape manufacturing to a lower cost site in 2007. Manufacturing of vinyl tapes at Plymouth's Spanish operations and of reflective tapes at its Brite-Line subsidiary in Denver will continue. E[acute accent]Plymouth Rubber and Brite-Line filed for Chapter 11 protection in July 2005, due to disputes between their secured lenders and the Pension Benefit Guaranty Corporation. This uncertainty has been eliminated by the bankruptcy settlement, under which the company's Pension Plan has been terminated and its liabilities assumed by the PBGC, while the claims of the pre-petition secured lenders have been otherwise compromised or satisfied.

E[acute accent]About Plymouth Rubber Company, Inc.

E[acute accent]Plymouth Rubber Company, Inc. and Brite-Line Technologies Inc. manufacture and supply rubber and vinyl products to a broad range of markets, including the electrical supply industry, utilities, automotive and other original equipment manufacturers and highway striping contractors. Headquartered in Canton, MA, the Company has operations in the US, Asia and Europe. For more information, see www.plymouthrubber.com.

E[acute accent]About Chrysalis Capital Partners

E[acute accent]Chrysalis Capital Partners, Inc. is a private equity investment firm with $300 million in capital under management. Chrysalis focuses on 'special situation' investing including turnarounds, financial restructurings, reorganizations, and recapitalizations in middle-market companies (typically with revenues of $50 to $500 million), across a wide range of industries throughout the United States. Chrysalis is affiliated with Independence Capital Partners, a family of private equity funds with over $6 billion of committed capital under management. E[acute accent]For more information, visit www.ccpfund.com or contact Kristy Lash at 610-642-8253.