CONSHOHOCKEN, PA, February 1, 2003 – Rosemont Partners today announced the completion of a minority investment in Rice Hall James & Associates as part of a management-led buyout from its parent, Old Mutual.  Upon the completion of the transaction, Rice Hall will operate as an independent investment company with no changes in investment philosophy or personnel.

Located in San Diego, Rice Hall James & Associates is an investment management firm specializing in small and mid cap investing.  It is also the advisor to the Rice Hall James Small/Mid Cap Fund and the Rice Hall James Micro Cap Fund.  Founded in 1974, the firm manages assets of $1.7 billion on behalf of its institutional and individual clients.  In 1987, Rice Hall James became a wholly owned subsidiary of United Asset Management Corporation, which was subsequently purchased in 2000 by Old Mutual plc (LSE:OML), an international financial services company headquartered in London.

Rice Hall James received financial backing from West Conshohocken, PA-based Rosemont Partners I, L.P., which provided capital for the repurchase of the firm as well as strategic guidance throughout the transaction.

“We are excited to have partnered with such an accomplished and highly motivated team of professionals,” said David Silvera, Managing Director of Rosemont Investment Partners, LLC, the General Partner of Rosemont Partners I, L.P., an independent firm.  “Rice Hall will be better positioned to continue its tradition of disciplined investing and outstanding client service, while having increased resources with which to reward and retain its employees.”

About Rosemont Partners

Rosemont Investment Partners, LLC is a merchant bank that provides strategic capital and investment banking advisory services to firms in the investment management and related industries.  The firm makes minority investments alongside dynamic, motivated management teams and employs its industry expertise to further the growth of its investments.  The sponsorship of Rice Hall’s management buyout marks the seventh investment for Rosemont Partners I, L.P.