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NewStar Financial Is Syndication Agent On The Acquisition Financing For Sprint Industrial Holdings LLC

NewStar Financial Supports First Atlantic Capital to Acquire a Majority Interest in Sprint Industrial Holdings LLC

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Boston, MA, November 15, 2007 – NewStar Financial, Inc. (NASDAQ: NEWS), a Boston-based specialty finance company, announces that it is Syndication Agent on a new $88 million first-lien financing to support First Atlantic Capital's ("First Atlantic") acquisition of a majority interest in Sprint Industrial Holdings LLC ("Sprint"), a leading provider of liquid and solid storage and technical safety solutions primarily to the refining, petrochemical and pipelines/transmission industries.First Atlantic is a New York City based private equity investment firm specializing in acquiring and growing middle-market companies through both internal growth and add-on acquisitions. Since inception in 1989, First Atlantic has consistently generated superior long-term investment returns for its investors and management partners. First Atlantic has acquired 56 companies and consolidated them into 19 major platforms. The firm utilizes the strong strategic consulting and operating expertise of its principals to assist the management of its portfolio companies in building the acquired business. First Atlantic has major investments in the packaging, food and beverage, specialty vehicle parts industries and retail."This deal presents a great opportunity for NewStar to partner with First Atlantic and we look forward to expanding the relationship," said Bob Kosian, Managing Director at NewStar. "We are also pleased to be supporting Sprint, a leader in the storage and safety solutions market, and we look forward to supporting First Atlantic and management's strategic growth plan," he added.Headquartered in Houston, TX, Sprint is the only specialized industrial maintenance service provider to offer both storage and safety equipment for rental to its diversified blue-chip customer base. The company's product lines include portable bulk and liquid storage tanks for temporary use during maintenance projects as well as safety products designed to monitor gas levels and to provide respiratory protection to employees. Sprint has more than 100 employees across five facilities in the U.S. Gulf Coast region.CIT Capital Securities was the Sole Arranger on the total $128 million Senior Credit Facilities that partially financed the transaction.NewStar's deal team for the transaction included Bob Kosian, Peter Nightingale, Scott Trefry, Chris Dias and Whitney Johannesson.About NewStar Financial, Inc.:

NewStar Financial is a specialized commercial finance company focused principally 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 for more detailed transaction and contact information.

Corporate Inquiries:

NewStar Financial

Anne G. Bork

(617) 848-4318
Press-Related Inquiries:

Gaffney Bennett Public Relations

Annie Donnelly
(860) 416-1365

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