Dr. Ajay Virmani reports

TENNENBAUM CAPITAL PARTNERS PROVIDES MULTI-AIRCRAFT ACQUISITION FINANCING FOR CARGOJET

Certain of Tennenbaum Capital Partners LLC's funds have agreed to provide up to $82.5-million (U.S.) of financing to Cargojet Inc. to finance the acquisition and conversion of Boeing 767-300ER passenger aircraft into freighter aircraft. The transaction will provide Canada's leading supplier of air cargo services with additional capacity to support its growing business.

"We have a long history of investing in the aircraft industry, and Cargojet is a best in class operation with a premier customer base," said Rob DiPaolo, managing director of Tennenbaum. "We are pleased to provide capital to Cargojet to support its expanding fleet requirements."

"Cargojet is pleased to have secured financing with Tennenbaum for its B767-300 aircraft deliveries," said Dr. Ajay K. Virmani, president and chief executive officer of Cargojet. "These new-generation, long-range, fuel-efficient and environmentally friendly aircraft will enable us to expand the geographic reach and capacity of our network," he added.

Capital Canada Ltd. acted as financial adviser to Cargojet with respect to the transaction.

About Tennenbaum Capital Partners LLC

Tennenbaum Capital Partners is an alternative investment management firm focused on performing credit and special situations for middle-market companies. Tennenbaum manages funds and accounts on behalf of global institutional investors. It also manages a publicly traded business development company, TCP Capital Corp. Since its founding, Tennenbaum has invested more than $15-billion in over 390 companies. Tennenbaum is headquartered in Los Angeles, with additional offices in New York and San Francisco.