NEWS ITEM - THE WENHAM GROUP, LLC

Bridgehouse Marine completes its acquisition of Global Marine Systems Ltd. from Global Crossing

August 16, 2004. Manchester, MA - Whitman Consulting Group client and partner - The Wenham Group, LLC is a private equity investment advisory firm that focuses on middle market acquisitions of asset-intensive and capital-intensive businesses in the US, Canada and the UK, with a particular focus on distressed M&A and other special situations. The Wenham Group is an affiliate of Bridgehouse Capital, a leading London-based, private equity investment firm. Bridgehouse Capital and its principals have a successful track record of investing in and managing a variety of middle-market companies in the US and Europe across a wide range of industries, including Internet infrastructure, IP managed services, commercial real estate, hotels, logistics and insurance.

In early 2004, the Wenham Group’s CEO and two Managing Directors of Bridgehouse Capital formed Bridgehouse Marine Ltd. for the purpose of acquiring and managing offshore marine businesses that service the telecommunications and oil & gas industries. In August 2004, Bridgehouse Marine completed its acquisition of Global Marine Systems Ltd. from Global Crossing. Global Marine is the world’s leading provider of submarine installation and maintenance services to the telecommunications industry. The Company operates the most advanced and largest fleet of cable-laying ships and subsea vehicles in the world.

With its 14 cable-laying ships, installation barge and 34 submersible vehicles, Global Marine has constructed more transoceanic and regional undersea fiber-optic telecommunications networks than any of its competitors. The Company also provides ongoing maintenance services to submarine networks, as well as a comprehensive range of associated services, including survey and route engineering, charting services, shallow water services, and specialized training for cable jointing.

Global Marine is based in greater London and traces its roots back to 1850, when the vessel “Goliath” installed the first international submarine telegraph cable, linking England to France.
Additional information regarding Global Marine can be found at www.globalmarinesystems.com. Additional information regarding Bridgehouse Marine’s acquisition can be found in Global Crossing's press release (see www.globalcrossing.com/xml/news/2004/august/16.xml).

For additional information concerning The Wenham Group, please contact us at info@wenhamgroup.com.