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Matrix Announces Promotion of Spencer Cavalier to Director

RICHMOND, VA – August 13, 2009 – Matrix Capital Markets Group, Inc. is pleased to announce that Spencer P. Cavalier, CFA has been promoted to Director of the Firm’s Energy and Multi-Site Retail Group (EMR). Over the past ten years, Mr. Cavalier has co-managed many successful merger and acquisition transactions, capital raises, restructurings, and valuations. Most recently, he co-managed two successful sell-side advisory assignments, the sales of Herndon Oil Corporation and Peterborough Oil Company, Inc., during a challenging M&A environment. He has also been actively involved in overall business development for the Firm, and has been instrumental in helping to establish the Matrix EMR Team as one of the top financial advisory groups in the energy and multi-site retail industry.

Tom Kelso, a Managing Director and Principal at Matrix, said “Mr. Cavalier is an exceptionally accomplished investment banker and this promotion is long overdue and richly deserved. His efforts have resulted in exceptional value to our clients.”

Prior to joining Matrix, Mr. Cavalier was a senior business valuation consultant with Ellin & Tucker, Chartered, a nationally recognized business valuation, consulting and accounting firm and a commercial lender with NationsBank (now Bank of America). As a holder of the Chartered Financial Analyst designation, he is a member of the CFA Institute and is also recognized as an Accredited Senior Appraiser by the American Society of Appraisers. He is qualified as a Series 7 and Series 63 FINRA General Securities Representative. Mr. Cavalier holds a B.S. degree (with honors) from West Virginia University and an M.B.A. from Baylor University. He is actively involved with The Bennett Institute’s Physically Challenged Sports Program at Kennedy Krieger and previously served on the Board of Visitors for University of Maryland’s Hospital for Children and the Board of Directors for The CollegeBound Foundation.