Brian Bailey joined Carousel Capital as a managing partner in April 2000. Prior to joining Carousel, Mr. Bailey was with Forstmann Little & Co. , a New York-based private equity firm with over $4 billion in capital. Prior to Forstmann Little, Mr. Bailey was with The Carlyle Group, a Washington, D.C.-based private equity firm with over $10 billion in capital. He has also held investment banking positions at CS First Boston and Bowles Hollowell Conner & Co. In addition, Mr. Bailey has served in government positions in Washington, D.C. at both the White House and the U.S. Small Business Administration.

Mr. Bailey has served on the boards of directors of a number of privately held companies.

Mr. Bailey holds a Bachelor of Arts degree in Mathematics and Economics from the University of North Carolina at Chapel Hill, where he was a Morehead Scholar, and a Master of Business Administration degree from the Stanford Graduate School of Business.

Nelson Schwab III co-founded Carousel Capital in 1996. From 1992 to 1995, he was Chairman and Chief Executive Officer of Paramount Parks, a leading developer and operator of regional theme parks. Mr. Schwab was Chairman and Chief Executive Officer of Kings Entertainment Company from 1984 until the company was acquired by Paramount Communications, Inc. in 1992.

Mr. Schwab is a member of the board of directors of Herschend Family Entertainment Corporation and several privately held companies. He also serves as Chairman of the Board of Trustees of the University of North Carolina at Chapel Hill. He is past chairman of the North Carolina Blumenthal Performing Arts Center, Charlotte Chamber, Carolinas Partnership and N. C. Outward Bound School.

Mr. Schwab holds a B.A. from the University of North Carolina at Chapel Hill and an M.B.A. from The Wharton School.

Charles Grigg joined Carousel Capital in 1997 and was named a partner of the firm in January 2002. Prior to joining Carousel Capital, Mr. Grigg was with Orion Partners, a private equity fund located in Boston specializing in acquisitions of mid-sized companies, from 1993 to 1995. From 1991 to 1993, he was with Smith Barney in New York serving in the healthcare corporate finance group.

Mr. Grigg graduated Magna Cum Laude from Yale University with a Bachelor of Arts degree and holds a Master of Business Administration degree from The Wharton School at the University of Pennsylvania.

Bill Hobbs joined Carousel Capital as a partner in May 2002. Prior to joining Carousel Capital, Mr. Hobbs was a Managing Director with Wachovia Securities (formerly First Union Securities, Inc.), where in 1996 he co-founded a group that provides investment banking services to private equity firms. From 1985 to 1996, Mr. Hobbs was with Chemical Securities, Inc. in New York, where he served in various roles, including leveraged finance, loan syndications, and investment banking for Southeastern corporate clients.

Mr. Hobbs is a member of the Board of Directors of the Arts and Sciences Foundation of the University of North Carolina at Chapel Hill. Mr. Hobbs also serves on the National Board of Directors of the Association for Corporate Growth.

Mr. Hobbs holds a Bachelor of Arts degree in Economics from the University of North Carolina at Chapel Hill and a Master of Business Administration degree from Columbia University.

Jason Schmidly joined Carousel Capital in 1998 and was named a partner of the firm in January 2002. Prior to joining Carousel Capital, Mr. Schmidly served as a director at Gregory & Hoenemeyer, Inc., a mergers & acquisitions/principal investment firm in Greenwich, CT, from 1995 to 1998. From 1993 to 1995, he was in the Mergers and Acquisitions Department of Morgan Stanley & Co., Inc. in New York.

Mr. Schmidly holds a Bachelors of Business Administration degree from Southern Methodist University.

Mr. Bowles holds a Bachelor of Science degree in Business Administration from the University of North Carolina at Chapel Hill and a Master of Business Administration degree from Harvard Business School.

Peter Clark joined Carousel Capital in 2003 as an analyst. Prior to joining Carousel Capital, Mr. Clark was with Harris Williams & Co. Mr. Clark holds a Bachelor of Arts degree in Economics with a concentration in Applied Mathematics from Davidson College.

Bo Hinton joined Carousel Capital in 2002 as an analyst. Prior to joining Carousel Capital, Mr. Hinton was with Wachovia Securities in the Healthcare investment banking group. Mr. Hinton holds a Bachelor of Arts degree in Economics Modified from Dartmouth College.