Jeffrey S. Silverman Named Chairman and CEO, RonaldNash Named President of Financial...

Business Editors

NEW YORK--(BUSINESS WIRE)--Jan. 12, 2000

Financial Performance Corporation (OTC Bulletin Board: FPCX) announced today that Jeffrey S. Silverman has been named Chairman and Chief Executive Officer of the company and that Ronald Nash has been named its President.

The company said that Mr. Silverman and Mr. Nash will work full time in these positions. In lieu of a salary, they have each accepted options to purchase 1 million shares of the company's common stock at $14.50 per share which was the closing price on January 10, 2000.

Mr. Silverman the former chairman and CEO of PLY GEM Industries, which was listed on the New York Stock Exchange brings to Financial Performance Corp. a successful history of originating and executing business strategies for a Fortune 500 company and Mr. Nash, the former President of Nash Weiss & Co., a Brokerage firm, he founded, that specialized in Market making for Nasdaq companies which was acquired by Quick & Reilly in 1998, brings to this enterprise a knowledge of Venture Capital, Investment Banking and Strategic planning.

Mr. Silverman, was also the co-Founder and Chairman of the investment firm LTS Capital Partners LLC. During Mr. Silverman's tenure at PLY GEM, the company acquired 14 companies and its annual revenues approached $800 million and its market capitalization increased from $7.5 million to over $500 million. In 1997, he oversaw the sale of the company to Nortek, Inc. Over the course of a 30-year career in business his achievements have included being the youngest member of the New York Stock Exchange and founding, growing and selling a successful cable television company. He currently serves on several boards of directors including those of the Boyar Value Fund Inc., The New York Administrative Committee of Fleet Bank Boston and the Triarc Companies, Inc.

Ronald Nash, was president and CEO of Network Consulting, Inc., a financial consulting company. Mr. Nash was also a founding partner and board member of Steinberg & Lyman Investment Bankers. Mr. Nash is also a member of Harvard University Dean's Committee for International Development at the John F. Kennedy School of Government.

In November, Mr. Silverman and Mr. Nash purchased an aggregate of 1 million shares of FPC's common stock and received options to purchase an additional 2.5 million shares from Robert S. Trump, a principal shareholder in FPC. In addition, the Board of Directors of the Company granted each of them five-year options to purchase 1,000,000 shares of common stock of the Company.

Financial Performance Corporation, through its subsidiary Michaelson Kelbick Partners, Inc., specializes in financial services marketing and communications. The company's customers have included First Union Corporation, Chase Manhattan Bank, BankBoston, The Dime Savings of New York, Fleet Financial Group, The CIT Group and PNC Bank.