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NewStar Financial Is Syndication Agent On $40 Million Financing For Wilks Broadcast Group

NewStar supports financing for The Wicks Group of Companies, L.L.C.

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Boston, MA, October 24, 2005 - NewStar Financial, Inc. ("NewStar"), a Boston-based specialty finance company, announces that it is Syndication Agent on a new $40 million financing to support the acquisition of eight radio stations by Wilks Broadcast Group, LLC. ("Wilks" or the "Company"), a portfolio company of The Wicks Group of Companies, L.L.C. ("Wicks") of New York.

Wilks is a radio broadcasting entity established in early 2005 by Wicks and Jeff Wilks to acquire and operate stations in mid-sized radio markets across the country. Wilks is acquiring four stations in Reno, Nevada and four stations in Lubbock, Texas from NextMedia Group, Inc. The Company also acquired three FM radio stations in the Fresno, California market in June, 2005.

The radio stations involved in this transaction are KTHX-FM, KRZQ-FM, KJZS-FM, and KURK-FM in Reno and KLLL-FM, KMMX-FM, KONE-FM, and KBTE-FM in Lubbock.

The senior secured credit facilities include a $5 million revolver and $35 million term loan. Both tranches mature in five years.

"NewStar is thrilled to be working with Jeff Wilks, a proven operator with an impressive record of developing radio stations in mid-sized markets," said David Dobies, managing director and co-head of middle market originations at NewStar. "This deal was also a great opportunity for us to work with a top-tier equity sponsor in The Wicks Group."

NewStar's deal team for the transaction included David Dobies, Rob Milordi, Andre Paquette and Dipen Patel.

About NewStar Financial, Inc.:

NewStar Financial, Inc. was formed in June 2004 by a group of senior banking and capital markets executives from leading financial institutions, including FleetBoston Financial, Citigroup and JP Morgan Chase, and leading institutional investors including Capital Z Partners, JP Morgan Corsair Capital Partners and Och-Ziff Capital Management Group. NewStar is focused exclusively on providing customized financing solutions to mid-sized borrowers in three lending groups: Middle Market Corporate, Commercial Real Estate, and Structured Products. For more information, please contact the appropriate individual below.

Corporate Inquiries:
NewStar Financial
Scott Poirier
(617) 848-2525

Press-Related Inquiries:
Gaffney Bennett Public Relations
Chris Riley
(860) 690-0856

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