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NewStar Financial Participates in Buyout Financing for Church's Chicken

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Boston, MA, August 24, 2009 - NewStar Financial, Inc. (NASDAQ:NEWS), a Boston-based specialty finance company, announces that it has provided debt capital in support of a $155.0 million Bank of America-led senior debt financing to support the acquisition of Church's Chicken ("Church's") by Friedman, Fleischer & Lowe ("FF&L"). Founded in 1952, Church's is the third largest chicken quick service restaurant in the world, serving more than three million customers weekly through restaurants in 22 countries and more than 30 states in the U.S. The Company serves affordable freshly prepared, high quality, flavorful chicken and tenders with signature sides and handmade, from-scratch biscuits. Church's operates a network of more 1,600 Company-owned and franchised restaurants, generating system-wide revenues of $1.2 billion.  FF&L is a private equity firm based in San Francisco, CA with approximately $2.0 billion of capital under management.

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