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IMMEDIATE RELEASE Private equity consortium led by Sendero Asset Management, LLC acquires 100% of general and limited partnership interests of Southern Missouri Gas Company 20-Aug-2005 — A private equity consortium led by Houston, Texas-based Sendero Capital Partners, Inc. has acquired 100% of the general and limited partnership interests of Southern Missouri Gas Company, L.P. (SMGC) after a competitive bidding process conducted by affiliates of a major natural gas utility. The private equity group also includes Denver-based CHx Capital, LLC and individual investor Michael J. Lewis. “Sendero’s strategy will focus on capturing the embedded growth potential in SMGC’s market as well as capitalizing on numerous expansion opportunities,” said Randy Maffett, and President and CEO of Sendero Capital Partners, Inc. “Sendero Capital and CHx have also formed a joint venture, Sendero Asset Management, to develop and implement similar strategies for other acquisitions in the region as well as in other parts of the country.” SMGC is a gas distribution company headquartered in Mountain Grove, Missouri, serving approximately 7,500 customers in 11 rural south central communities. The consortium partners financed the acquisition with help from the Equipment Finance Division of GMAC Commercial Finance (GMAC CF), a wholly owned subsidiary of General Motors Acceptance Corporation Financial Services (GMACFS) since 1999. GMAC CF provided term debt financing and a working capital line of credit. “This transaction represents an excellent opportunity for GMAC CF to grow investment in the regulated natural gas utility market as well as its continued expansion into the energy finance sector,” said Lee Palm, GMAC CF – Equipment Finance Division president. “GMAC CF has provided project financings for the construction of several power plants throughout the United States over the past several years. The SMGC acquisition financing emphasizes GMAC CF’s continued evolution in energy finance. It is our strategy to continue to pursue additional financing opportunities in the electric, oil and gas, infrastructure and other project finance segments.” GMAC Commercial Finance, considered a leader in its segment of the financial services market, provides asset-based lending, equipment finance/leasing, structured finance, factoring and supplier early payment services to a wide variety of middle-market clients in diverse industries. Loan facilities are in the $1 million to $350 million range. With locations in the United States, Canada, Hong Kong, Poland, the United Kingdom, and plans to open an office in Germany the 1st Quarter of 2006, GMAC Commercial Finance is positioned to provide lending services worldwide. ###
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