First Texas Products, Inc.

December 17, 2003
Contact: Lauren B. Sinai

Prospect Partners Completes Sale of First Texas Products, Inc.

Niche Consumer Products Company Grew Substantially During Prospect Partners' Four-Year Investment

CHICAGO, Ill.—December 17, 2003: Prospect Partners, LLC announced today that it has sold El Paso, Texas-based First Texas Products, Inc. to Austin, Texas-based The Texas Growth Fund, one of the largest private equity groups in Texas.

First Texas Products is the leading manufacturer of metal detectors for recreational treasure hunting in North America under the brand name Bounty Hunter and a worldwide leader in consumer night vision products under the Night Owl Optics brand name.

First Texas, formed in July, 1999, by Prospect Partners and Thomas C. Walsh for the purpose of recapitalization and growth through strategic acquisitions, "has experienced tremendous growth under Tom Walsh's strong, visionary leadership," says Erik Maurer of Prospect Partners. "This was an exciting investment that exemplifies what we seek to accomplish: Partner with talented managment of niche market leaders, build bigger businesses, and then exit the company into the true middle market."

Walsh, who led First Texas as CEO, is a shareholder in the new company and will continue to head the firm. First Texas will remain at its facility in El Paso, Texas, and all of the operating executives and employees will remain intact.

The sale marked a successful investment for First Texas Products' management, Prospect Partners and the employees of First Texas.

U.S. Bancorp Piper Jaffray acted as exclusive financial advisor to Prospect Partners and First Texas in this transaction.

Prospect Partners, LLC of Chicago manages a $105 million private equity fund focused on management-led leveraged acquisitions and providing growth capital for lower middle market businesses with niche strategies.

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May 21, 2001
First Texas Products Company Acquires the Best in Night Vision

July 2, 1999
First Texas Products Acquires Bounty Hunter Brand Metal Detectors