KODA announced today the completion of the sale of Nivel Parts and Manufacturing Company to Sentinel Capital Partners out of New York.

In the five and one half years that KODA owned Nivel the company's sales more than doubled and the EBITDA tripled. This is a testament to the management group at Nivel and they are certainly to be congratulated.

Sentinel Capital Partners is a large institutional buyout fund in New York City. Their investors are composed of several high profile pension funds, insurance companies and others who invest with Sentinel in a variety of industries. As most of you know, it is rare for KODA to sell a company but the stable growth and earnings consistency of Nivel, while certainly attractive to KODA, is especially attractive to the institutional investors who are looking not only for high returns, but stability as well. We feel confident that Sentinel can continue the great work by the people at Nivel and with their great financial strength, take them to the next level.

Mr. Pat McGrogan remains as President of Nivel and all of his fine group of managers, while maybe just a little sad about ending the great relationship with KODA, are excited about the prospects of their partnership with Sentinel.

KODA will use the proceeds of the transaction to continue to search for good companies to add to the team as well as add on acquisitions to our existing portfolio companies.

For further information contact Jim Peden, 423.756.8891, jpkoda@aol.com.