For Immediate Release

Another Step Towards Building Multi-Billion Dollar Petroleum Marketing Venture

Oklahoma City, Oklahoma, June 9, 2005–Simons Petroleum LLC, a nationwide independent marketer of petroleum products, today announced it has acquired Trevco, Inc., a regional petroleum marketer headquartered in Craig, CO.

The addition of Trevco will significantly expand Simon’s existing geographic footprint in the Rocky Mountain region. Key personnel from Trevco will join the Simons team in continuing to serve the industry and supply the customer base with the highest level of customer service.

“The Trevco acquisition is an excellent strategic fit for Simons Petroleum,” said CEO Roger Simons. “Trevco is a long-time industry participant that shares a common vision with Simons in the commercial and industrial markets it has served. The Trevenen family and their employees have a reputation of providing excellent customer service with very efficient operations, and we believe this will facilitate a successful transition.”

About Simons Petroleum
Simons Petroleum, Inc. is a national marketer of petroleum products, focused on providing a comprehensive fuel and lubricant offering to commercial and industrial industries. Simons differentiates itself in the marketplace as a result of its hedging and financial management tools, proprietary fuel management applications, engineering & testing services and custom products.

Waud Capital, together with RBC Capital Partners (n/k/a Cadent Energy Partners) and Northwest Capital Appreciation, Inc., partnered with senior management to acquire Simons in April 2004 and have committed more than $50 million to finance acquisitions in the petroleum marketing and distribution industry. To learn more about the company, please visit

About Waud Capital Partners, L.L.C.
Waud Capital Partners, L.L.C. is a private equity investment firm founded in 1993 with more than $400 million of capital under management. The firm's last fund, raised in 1998, achieved a compounded net IRR of 34%, making it one of the top two funds in the United States raised during that period.

WCP partners with exceptional management teams to invest in middle market buyouts, recapitalizations, industry consolidations and growth equity investments. The firm seeks to invest $10 million to $50 million in private companies in the following four areas: business and consumer services, healthcare services, specialty distribution and value-added manufacturing businesses. Typically, the companies in which WCP invests have enterprise values between $30 million and $150 million. Since its founding, Waud Capital Partners has successfully made more than sixty investments, without a single capital loss, in a wide range of industries, including adhesives, alarm monitoring, automotive components, coatings, consumer products, lighting, litigation services, petroleum distribution, pharmaceuticals, publishing, sealants and specialty hospitals. The firm is backed by a number of institutions, including Citigroup, Middlebury College, SunAmerica, The St. Paul Travelers Companies and the University of Chicago Hospitals, among others, as well as a number of well-known families and high net worth individuals.

For Further Information:
Reeve Waud, Founder and Managing Partner
Waud Capital Partners, L.L.C.
560 Oakwood Avenue, Suite 203
Lake Forest, IL 60045