Sentinel sells Castle Dental Centers to Bright Now! Dental in a $56 million transaction


Investment Yields More Than 2.2x in One Year


NEW YORK, June 17, 2004 - Sentinel Capital Partners announced today that its portfolio company, Castle Dental Centers, Inc., (OTC Bulletin Board: CASL.OB-News) has completed its merger with Bright Now! Dental, Inc. of Santa Ana, CA in a transaction valued at $56 million. Castle Dental is a leading provider of dental services in Texas, Florida, Tennessee and California. Bright Now's majority shareholder was a private equity firm.

Paul Murphy, a Principal at Sentinel, said, "Over the past year, we have worked very closely with the Castle Dental management team implementing operational enhancements to improve performance and incentive programs to align management's interests with the interests of the shareholders. We have enjoyed working with them and the results of our joint efforts have been quite rewarding.

"We have valued our partnership with Sentinel and their strategic and financial support," said John Slack, Castle Dental's Chief Executive Officer. "We are enthusiastic about joining forces with Bright Now and believe that the transaction is in the best interests of Castle Dental and all of its constituencies, including our shareholders, employees, affiliated dentists, and most important, patients.

"Castle Dental is a strong strategic fit with Bright Now", said David Lobel, Founder and Managing Partner of Sentinel Capital Partners. "We are confident that Bright Now's excellent management team will effectively capitalize on the exciting new opportunities that lie ahead to deliver quality patient care. Castle Dental is a solid business and we are pleased to be able to position the company for continued growth. We are also pleased to return capital to our investors.

In May 2003, Sentinel and management recapitalized Castle Dental. GE Healthcare Services provided debt financing for the recapitalization. Sentinel originated, sponsored and negotiated the transaction, arranged the debt financing and provided equity financing from Sentinel Capital Partners II, L.P.