Second Sale by Partnership in 2004 Results in $370 Million In Proceeds on Investments of $55 Million

Press Release

SAN FRANCISCO, CA, December 16, 2004 - TSG Consumer Partners, a leading private equity investment group specializing in branded consumer products businesses, today announced the successful completion of the sale of the Mauna Loa Macadamia Nut Corp. for $130 million to Hershey Foods Corporation (NYSE: HSY).

"By extending the product line and retail distribution, we doubled Mauna Loa's sales in North America in the last year alone," said Charles ("Chuck") Esserman, a co-founding partner of the firm. "Mauna Loa has increased demand for macadamia nuts as a result of strategic investments in marketing focused on the health benefits, heritage, and rich, delicious taste of macadamia nuts. I'm certain that Hershey Foods will continue to considerably expand the Mauna Loa franchise."

Mr. Esserman also noted that the exits of Mauna Loa and Medtech in 2004 by the Partnership resulted in aggregate gross proceeds of $370 million. TSG Consumer Partners's equity investment in these companies totaled approximately $55 million. "TSG's investment track record has been impressive, with returns for our branded consumer companies averaging approximately 60 percent during the last 18 years. Additionally, sales revenues for our current portfolio companies in 2004 are up an average of 33 percent versus last year. We have worked hard to build a great team to identify emerging opportunities and capitalize on growth opportunities in partnership with our portfolio company management," said Mr. Esserman.

About TSG Consumer Partners
TSG Consumer Partners, founded in 1987, is a leading private equity firm focused exclusively on investing in branded consumer product companies. With over $800 million in capital under management, TSG Consumer Partners has invested in such brands as Glaceau VitaminWater, Don Miguel, Meguiar's, Harry's Fresh Foods, Voss, Famous Amos, MET-Rx, Terra Chips, and others. The firm works closely with management teams to build leading companies and strong brands.


Contact:
Steven S. Anreder
Jeffrey S. McKenzie
Anreder and Company
212.532.3232
steven.anreder@anreder.com
jeff.mckenzie@anreder.com