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NEWSPRING PARTNER WINS REGIONAL ERNST & YOUNG ENTREPRENEUR OF THE YEAR AWARD

RADNOR, PA, July 14, 2009 – NewSpring Capital, headquartered in Radnor, PA with offices in Short Hills, NJ and Washington, D.C., congratulates NewSpring’s newest Partner, Bruce Downey formerly of Barr Pharmaceuticals, for being named Ernst & Young Entrepreneur of the Year in the Manufacturing Category in New Jersey. He will now go on to compete in the National Entrepreneur of the Year Competition to be held in Palm Springs, CA on November 14, 2009.

Mr. Downey joined Barr in 1993 and was elected Chairman and Chief Executive Officer in 1994. Under Downey’s leadership, Barr’s annual revenues increased from $60 million to over $2.5 billion in 2008. Barr Pharmaceuticals was sold in December 2008 for approximately $9.0 billion to Teva Pharmaceutical Industries, bringing to a close his leadership of the Company.

“This award is recognition of Bruce’s success as a chief executive and entrepreneur,” Brian Murphy, General Partner of NewSpring Capital stated. The sale of Barr Pharmaceuticals was one of the largest transactions to occur last year and capped Bruce’s successful tenure at the Company. We are thrilled to have Bruce as a Partner of NewSpring Health Capital where he will work with us to assist the entrepreneurs of our portfolio companies in turning their visions into reality.” Bruce Downey commented, “I am pleased to receive this award and would like to thank the judges and those at Ernst & Young who have chosen to recognize Barr Pharmaceuticals and myself. Now that I am no longer at Barr, I am pleased I have joined NewSpring and look forward to augmenting its strong track record based upon partnering with entrepreneurs to build exceptional companies.”

Complete information on the Ernst & Young Entrepreneur of the Year Awards can be found at www.ey.com/us/eoy.

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