SureWest Communications Reaches Agreement to Acquire Everest Broadband

Leading independent communications holding company SureWest Communications (Nasdaq: SURW) announced today that it has signed a definitive agreement to acquire Everest Broadband, Inc. ("Everest"), a portfolio company of Seaport Capital, for $173 million in cash. Everest is a privately held competitive provider of high-speed data, video and voice services in the greater Kansas City area. The transaction, which is expected to close by the end of the first quarter 2008, will more than double SureWest's triple-play residential subscriber base and facilitate the rapid expansion of its business services.

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Reserve Holdings, Inc. Announces Acquisition by S&K Communications

October 15, 2007: Reserve Holdings, Inc., a private telecommunications provider serving St. John the Baptist Parish with telephone, cable television and high-speed Internet services, announced today that it had completed the sale of the company to S&K Communications. S&K Communications is controlled by Sean E. Reilly and Kevin P. Reilly, Jr. Reserve Holdings, Inc. had been majority-owned by Seaport Capital since 1998 and has been providing telecommunications services since 1935.

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Seaport Capital Completes Sale of Portfolio Company Southeast Towers

Seaport Capital completed the sale of its portfolio company, Southeast Towers, LLC, to Diamond Communications, LLC. Southeast Towers has been a Seaport Capital portfolio company since August 2004. Under Seaport Capital's stewardship, Southeast Towers acquired or developed 180 communications towers, becoming one of the largest privately-owned tower development companies in the country. Through the sale Seaport Capital realized 3.6 times its investment resulting in a 60% IRR.

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Switch & Data Facilities Announces Completion of IPO

Switch & Data Facilities Company, Inc. (NASDAQ: SDXC - News), announced today that it had closed its initial public offering of 13,416,667 shares of common stock at the public offering price of $17.00 per share, less underwriting discounts and commissions. Of these 13,416,667 shares that were sold, 9,000,000 shares were sold by the Company and 4,416,667 shares were sold by certain of the Company's stockholders (1,750,000 of which were purchased by the underwriters pursuant to their over-allotment option). The shares trade on the NASDAQ Global Market under the symbol "SDXC."

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Seaport Capital completes sale of Everest Broadband to SureWest

Seaport Capital has completed the sale of Everest Broadband to SureWest Communications (Nasdaq: SURW) for $173 million. This sale resulted in Seaport generating 3.3 times its investment and 99.4% IRR. Everest, acquired by Seaport Capital Partners III in June 2006, increased monthly provider EBITDA over 50% during Seaport's ownership. Everest is a competitive provider of high-speed data, video, and voice services in the greater Kansas City area.

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