RSTW Partners Announces Exit of Student Transportation of America Investment with 20.3% IRR.

RSTW Partners exited its investment in Student Transportation of America ("STA") in December 2004, generating a 20.3% IRR over a 3.25 year investment period.  STA is one of the largest private providers of school bus transportation services in the United States.  STA provides contracted transportation services for home-to-school busing, special needs transportation, and extracurricular and charter trips for school and other groups.  RSTW originally invested $15,000,000 of subordinated debt and $2,000,000 of preferred stock in STA in October 2001.  This investment was held in RSTW Partners III, L.P., a $500,000,000 investment fund.