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NewStar Financial Serves as Lead Arranger and Syndication Agent for $53 Million Financing of Goods Movement, Inc.

NewStar works with Frazier Co. and TPW Investments to complete transaction

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Boston, MA, May 22, 2007 – NewStar Financial, Inc. (NASDAQ: NEWS), a commercial finance company, announced it has provided senior debt financing for Goods Movement, Inc. Based in Rancho Dominguez, California, Goods Movement was formed by the combination of three companies: • Total Transportation Services, Inc. – a leading non-asset based, third party logistics provider.
• North American Conveyor, Inc. – NACI is a fabricator and installer of conveyor and sorting equipment and systems, primarily for the United States Postal Service.
• W&H Systems, Inc. – a designer, installer and integrator of material handling systems. Goods Movement is majority owned by Frazier Co. and TPW Investments, both of which are private investment firms focused on acquiring and operating middle market companies. "NewStar is excited to be partnering with the Goods Movement management team, and we look forward to growing our relationship with Frazier Co. and TPW Investments", said Jeff French, Managing Director at NewStar Financial. "The Goods Movement companies have established themselves as market leaders with significant momentum. The companies have tremendous growth prospects driven by their reputation for on-time performance and innovative approach. We look forward to supporting their future capital needs." NewStar was the Lead Arranger and Syndication Agent for the $53 million senior credit facilities, which included a 5-year, $6.0 million Revolving Credit Facility and a 5-year, $47.0 million Term Loan. "Goods Movement is pleased to have NewStar Financial as a partner as we pursue the many attractive growth opportunities in our targeted markets", said Albert Frazier, Chairman and CEO of Goods Movement. "We were particularly impressed by the NewStar team's ability to quickly grasp the complexity and merits of the transaction, and to move swiftly to meet our aggressive timeline." Mr. Frazier added "The combination of TTSI, W&H Systems, and NACI creates a world class Logistics and Material Handling Company with 2006 pro forma revenue of $133 million. NewStar's deal team for this transaction included Jeff French, Austin Dean, Bruce Catania and Jason Andreotes. About Frazier Co.:
Frazier Co. is a privately-held company focused on acquiring and operating middle market business services companies. Frazier Co targets cash flow positive businesses largely ignored by traditional private equity firms, due to size (<$5MM in EBITDA) or complex business issues. The Chairman of Frazier Co., Albert H. Frazier, was previously a partner in Accenture's Strategy and Business Architecture Practice. About TPW Investments:
TPW Investments ("TPW") is a private investment firm focused on acquiring and operating middle market companies typically overlooked by traditional financial investors. They seek to acquire companies in a number of industries with solid assets and a consistent record of positive cash flow that can be enhanced by additional financial, operational and strategic resources. TPW targets companies where the existing owners are seeking some form of liquidity, but desire a gradual and efficient management transition. www.tpwinvestments.comAbout NewStar Financial, Inc.:

NewStar Financial is a specialized commercial finance company focused exclusively on meeting the complex financing needs of customers in the middle market through our corporate, commercial real estate, and structured products groups. Our senior banking teams call directly on customers to provide advice and finance a range of strategic transactions that may require some combination of senior secured, second lien and mezzanine financing. NewStar typically works with customers with financing needs of up to $150 million and cash flow as low as $5 million. We target 'hold' positions of up to $35 million, but may also underwrite or arrange transactions up to $100 million for syndications to other lenders. We are headquartered in Boston MA, with regional offices in Darien CT, Chicago IL, San Francisco CA, San Diego CA, and Charleston SC. In December of 2006, NewStar completed an Initial Public Offering. The Company's shares trade on the NASDAQ under the ticker symbol, NEWS. Please visit our website at www.newstarfin.com for more detailed transaction and contact information.






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