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Carter Morse & Mathias Announces Sale of Excel Partnership to Standards Australia

SOUTHPORT, Connecticut, August 14, 2003 -- Carter Morse & Mathias today announced that Standards Australia International's ("SAI") wholly owned subsidiary SAI Global has acquired Excel Partnership, Inc. ("Excel") headquartered in Sandy Hook, Connecticut. Excel is a quality management, training and consulting company.  Carter Morse & Mathias has advised Excel since 1998 and was Excel's exclusive financial advisor in arranging, structuring and negotiating this transaction.

Excel, founded in 1991, has earned the reputation as a world leader in integrating business process improvement with international standards. Excel conducts public training courses, in-house training, consulting, multi media and e-learning to many of North America's leading corporations.  

SAI is Australia's largest management systems registration and training company and one of the country's leading technical publishers.

SAI's Chief Executive Officer, Mr Ross Wraight, said: "Excel forms a crucial part of our expansion plans in North America, which will enhance service to our multinational clients."

The Executive General Manager of SAI Global, Mr. Tony Scotton, said: "Excel will reinforce and enhance our existing product platform in the management systems registration and training industry." Mr. Scotton added, "The natural synergies that exist between our core businesses and those services currently offered by Excel will deliver clear benefits to our existing multinational client base." 

Mr. David Middleton, one of Excel's original founders and President, will assume the CEO role.   Mr. Middleton said, "Over the past 12 years we have built a very successful training and consulting business and I look forward to our business continuing to grow as part of SAI.  SAI's intellectual property, such as its publications and training courses, focused on business excellence will surely propel Excel's growth."

SAI has recently established SAI Global based in New Jersey and has acquired KPMG's management systems registration businesses in Mexico, Australia and New Zealand and the cream of the products and services offered by Australian Quality Council. The Standards group employs more than 500 staff and has offices in Australia, New Zealand, across Asia and the United States.  

Carter Morse & Mathias is a regional investment banking firm, founded in 1987 and headquartered in Southport, Connecticut.  It specializes in merger and acquisition advisory activities, raising private capital from institutional investors, venture development services, and business valuations for entrepreneurial companies in New England.

For more information, contact Michael Carter, Managing Director, (203) 254-3333, x222