Pouschine Cook Capital Management, LLC Recapitalizes Crownline Boat Company

WEST FRANKFORT, IL -- (MARKET WIRE) -- April 11, 2007 -- Pouschine Cook Capital Management, LLC today announced that it has completed a recapitalization of Crownline Boat Company, a leading manufacturer of 18 to 34 foot bowriders, deckboats, sport cuddy cabins and cruisers. Pouschine Cook has partnered with Kevin Riem, Crownline's Chief Executive Officer, to provide growth capital and acquire a majority ownership position in Crownline. Crownline's founders, Tim Claxton and Laura Claxton Eader, have retained a significant minority ownership position in the company and will remain active at the board level. Pouschine Cook's investment follows its prior success with MasterCraft Boat Company, a leading ski and wakeboard boat manufacturer.

"We are excited to partner with Pouschine Cook," said Kevin Riem, Chief Executive Officer of Crownline, "Pouschine Cook has a track record of improving its investments' operations and making prudent capital expenditures to support growth, ultimately leading to stronger businesses and larger workforces."

"Pouschine Cook was attracted to Crownline due to the strength of its brand and dealer network and the strength of its management team and performance of its employees," said Everett Cook, a Co-Founder and Managing Member of Pouschine Cook. "Kevin Riem is a dynamic leader and innovator in the marine industry," said Geoff Teillon, a Vice President of Pouschine Cook, "We expect to leverage our experience with MasterCraft Boat Company to further develop Crownline's product offering, improve communications with dealers and enhance the consumer's total Crownline experience."

Northstar Capital provided mezzanine and equity capital for the recapitalization. Churchill Financial LLC and ING Capital LLC were the Co-Lead Arrangers for the senior credit facility. GE Antares Capital participated in the senior credit facility and Tricadia Capital committed to participate in the senior credit facility. Crownline Boat Company was advised by McColl Partners LLC and Durham Jones & Pinegar. Schulte, Roth and Zabel LLP represented Pouschine Cook.

Crownline Boat Company. Crownline Boat Company was founded in 1991 and has grown to become one of the most recognized names in the boating industry today. Crownline produces boats 18 to 34 feet and has a major presence in all of its market segments which include bowriders, deckboats, sport cuddy cabins and cruisers. Crownline and their staffing partners employ in excess of 500 people.

Pouschine Cook Capital Management, LLC. Pouschine Cook Capital Management, LLC manages over $250 million dollars of private equity. Pouschine Cook invests in proven, private, middle-market companies that are leaders in their niche. As seasoned investment professionals with significant operating, corporate development and corporate finance experience, Pouschine Cook's professionals are active investors who work closely with management and shareholders to build equity value. Pouschine Cook's past and present investments include MasterCraft Boat Company, Ampac Packaging, Fantastic Sams, Harlem Furniture, Interplan Health Group, Doe & Ingalls and A World of Tile.

Contact Information: Contact: Bonnie Harland 212-784-0629 Email Contact