Creditek Takes an Equity Partner, Parthenon Capital

Major Expansion Planned

Parsippany, NJ June 21, 1999 - Creditek  LLC (formerly operating as Creditek Corporation), headquartered here, the industry leader in accounts receivable and revenue management, announced they have taken an equity partner, Parthenon Capital. This partnership will enable Creditek to expand, both nationally and internationally, and continue to dominate the market in the next century through Parthenon's insight, experience, and access to capital for acquisitions.

"While Creditek has the lead in the receivables outsource business, we foresee that our market opportunities will be even greater by having a partner with experience in fast growth business environments. We need a partner who can help us expand our core businesses nationally and internationally, and assist by acquiring other companies when it makes sense", explains Creditek CEO John M. Metzger. Founded in 1982 by Metzger, the firm has grown to a staff of over 700 in 12 offices nationwide.

To obtain his goal of taking the Company to the next level, Metzger searched for the right partner with demonstrated experience in helping mid-sized companies grow into major entities. Best of all, this partnership will give Creditek access to the superior international consulting services of Parthenon's sister company, The Parthenon Group.

"We believe that the Creditek/Parthenon Capital partnership will enhance Creditek's ability to grow from the strong base it has already established", commented Ernest Jacquet, Managing Partner of Parthenon Capital.

About Creditek, LLC
Creditek is the industry leader in specialized outsource receivables management services including dilution, deduction and payment exceptions. Services include both total and targeted A/R outsourcing solutions, tactical projects, consulting, global credit insurance, co-op and trade promotion management, and staffing. Creditek enables clients to improve efficiency and long-term performance by streamlining their internal receivables operations, using proprietary programs that self-fund by reclaiming large amounts of written-off revenue.

About Parthenon Capital
Parthenon Capital is a Boston based, private equity investment firm that provides capital, financial expertise, and strategic direction and assistance to help middle market companies achieve exceptional value in their industry. Typically Parthenon invests in companies with demonstrated market or segment leadership; and who offer specialized products or services. Partner companies also have strong management who desire to reach the next level of success, possess potential to grow through acquisition, and enjoy a strong US domestic presence with the goal of global expansion.

About The Parthenon Group
Founded in 1991, The Parthenon Group is an entrepreneurial firm engaged in strategy consulting and principal investing. Their mission is to partner with CEO's and senior executives who have high ambition for their companies. Typically, the management teams have the ability to make strategic change, and are willing to address the fundamentals of their competitiveness. From their offices in Boston and London, the Parthenon Group works with these business leaders on their most important challenges to achieve breakthrough financial results and create long-term market value appreciation.