February 3, 2004

MedVance is leading provider of Associate, Diploma and Certificate programs for the Allied Health Sector

Generation Partners announced today that it has recently completed a $9.5 million investment in MedVance Institute (“MedVance”), a rapidly growing provider of post-secondary allied health education. Founded in 1999, MedVance serves students at seven campuses across the Southeastern United States. Generation Partners is a $325 million private equity firm focused on the Business Services and Information Services sectors.

Headquartered in West Palm Beach, FL, MedVance provides Associate, Diploma and Certificate programs to recent high school graduates and adult students seeking education and training for positions in allied health including Radiologic Technology, Pharmacy Technician, Practical Nursing, Medical Assisting, Medical Coding Specialist, Medical Laboratory Technology, Surgical Technology, Phlebotomy, and Medical Office Administration. Programs run from 6 and 24 months in length, and cost between $5,500 and $27,000. The MedVance schools are state licensed and nationally accredited. The students at all MedVance institutions are eligible to participate in Student Financial Aid programs administered by the Department of Education. The company’s schools are in Port St. Lucie, Florida; the greater Nashville, Tennessee area; Houston, Texas; Baton Rouge, Louisiana; and throughout South Florida with sites in South Miami, Ft. Lauderdale, and West Palm Beach.

Peter Campbell, Partner at Generation Partners, said "CEO Deborah Schwarzberg has built MedVance into a leading post-secondary education company by designing and delivering superb, student-focused medical training and nursing programs to young adults and mature individuals interested in changing their careers for new opportunities in the fast-growing allied health sector. We are excited to partner with a dynamic company that has a clear vision and focus in the growing area of allied health education. The company is managed by a very strong team that has experienced tremendous success to date in both acquiring existing schools and developing new post-secondary institutions.”

“Our partnership with Generation will help accelerate our growth and will support the Company’s expansion through strategic acquisitions and key business opportunities” said Deborah Schwarzberg, CEO of MedVance. “We chose to work with Generation Partners because of their repeated success in deepening the vision and quality of execution of other businesses they have partnered with over the years. The talented business minds at Generation have outstanding legacies with each of the companies and the management teams they have supported and MedVance is thrilled to have established a partnership with such a phenomenal group of individuals.“

Mark Jennings, Managing Partner of Generation Partners said: “We are attracted to the for-profit education sector due to its excellent industry fundamentals and outstanding business models. MedVance is well-positioned to benefit from the favorable trends in for-profit education as well as the expected strong demand for workers in the healthcare sectors as the population continues to age.”

About MedVance Institute

MedVance Institute is a for-profit post-secondary education provider focused on providing allied health training on the Eastern Coast of the United States. The company offers Associate, Diploma and Certificate degrees in a variety of allied health programs including, Surgical Technology, Radiologic Technology, Medical Assisting, Medical Coding Specialist, Medical Laboratory Technology, Pharmacy Technician, Phlebotomy, Medical Office Administration and Massage Therapy primarily for young adults and mature career-changers. MedVance, which is based in West Palm Beach, FL, currently operates seven campuses located in Florida, Louisiana, Texas and Tennessee. For more information please visit www.medvance.org.

About Generation Partners

Generation Partners is a $325 million private investment firm focused on providing equity capital to growth-oriented companies through buyout, growth equity, and venture capital investments. The firm targets $3-20 million investments focused primarily on 1) Business Services/Outsourcing 2) Information Services/Media and 3) other businesses for which technology is a key element of strategy. Some of Generation's portfolio companies include: Sterling Testing Systems, Agility Recovery Solutions, High End Systems, Hotjobs, Promatory Communications, and American Cellular Corp. The firm has offices in Greenwich, CT and San Francisco, CA. For more information on Generation Partners, please visit www.generation.com