PRESS RELEASES

Edward Castagna Promoted to President of Nassau Asset Management
Peter Castagna Continues as Company's CEO

WESTBURY, NY, June 1, 2005 - Edward Castagna has been named president of Nassau Asset Management, announced Peter Castagna, the company's founder, who will continue his duties as Nassau's active chief executive officer (CEO).

Peter Castagna previously held the titles of both president and CEO. He says Ed, his son, was promoted to president in recognition of his strong leadership within the company.

"One of Ed's most important achievements has been launching and expanding www.nasset.com, a well-known equipment remarketing Web site," Peter Castagna says. "He has spearheaded many new services and technology advances for our company while overseeing daily operations."

Ed Castagna joined Nassau in 1991 after college and most recently held the title of senior executive vice president. As president, he will continue to manage daily operations for the company, which provides asset recovery, collections, remarketing, full plant liquidations, and appraisal services to the equipment leasing and finance industry.

Ed Castagna recently chaired the Equipment Leasing Association's Service Providers Business Council and is active on its Membership Committee, as well as the 2004 and 2005 Industry Future Councils of the Equipment Leasing and Finance Foundation.

ABOUT NASSAU
Nassau Asset Management of Westbury, NY, has been providing full-service asset management, including asset recovery, collections, global remarketing, plant liquidations, and appraisals for more than 25 years to the equipment leasing and finance industry. The company operates in all 50 states and Canada. For more information, please visit www.nasset.com or call 1-800-4.NASSAU.

MEDIA CONTACTS
Peter Castagna, CEO, Nassau Asset Management
(516) 484-5959
pcast@nasset.com

Carla Young Harrington, Susan Carol Associates PR
(540) 899-3913
carla@crosslink.net