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September 30, 2002

Huron Capital Partners Acquires The Creative Circus

Detroit, MI – September 30, 2002 – Huron Capital Partners LLC, a Michigan-based private equity firm, announced today that it has completed its second vocational school acquisition in the past two months by acquiring The Creative Circus, Inc. as an add-on to Huron’s portfolio company Delta Educational Systems, Inc. The transaction closed in September. Delta’s previously-announced acquisition of Pennsylvania-based McCann Education Centers closed in August.

The Creative Circus, based in Atlanta, offers educational programs in the creative areas of the advertising field, including design, illustration, copywriting, art direction and image. The Creative Circus has built a reputation as one of the premier advertising schools of its kind in the nation, with its graduates moving on to positions with leading advertising firms throughout the U.S.

John Higgins, a Principal at Huron, pointed out “This acquisition is reflective of Huron’s commitment to supporting the management teams and growth plans of its portfolio companies. In less than one year since our initial investment in Delta, we have closed two add-ons and doubled our investment in the company. It is an exciting growth period for Delta.”

Delta CEO Joe Kennedy commented on the transaction, “The Creative Circus is a truly unique school with excellent people, making it an exciting addition to our organization. Advertising represents a new curriculum for Delta that we think offers significant growth opportunities, particularly when combined with our organization’s resources.”

Higgins added, “We also believe this transaction demonstrates our unwavering commitment to investing new capital in what is generally viewed as a depressed acquisition environment.”

Based in Virginia Beach, Virginia, Delta operates postsecondary vocational schools serving the large and growing segment of the population seeking to acquire career-oriented education. With the addition of The Creative Circus, Delta has nine campuses in the eastern U.S. offering degree and diploma programs primarily in the areas of healthcare, information technology, business and advertising.

Detroit-based Huron Capital Partners invests in buyouts and recapitalizations of private entrepreneurial companies with $10 million to $100 million in revenues. The key to the firm’s strategy is partnering with strong management teams to acquire niche manufacturing, service, and distribution companies with well-defined growth strategies. Huron manages $72 million of committed equity capital.

For further information, please contact Brian Demkowicz or John Higgins at Huron Capital Partners (313-496-1050) or visit their website www.huroncapital.com.