January 30, 2009

Trinsum Group, Inc., a holding company, announced this week that it has filed a voluntary petition under Chapter 11 of the Federal Bankruptcy Code in the United States Bankruptcy Court in the Southern District of New York. The Chapter 11 proceeding does not include the Company's operating subsidiaries, including its consulting subsidiary, and their operations will not be affected.

During the past several months, the Company had explored a number of alternatives to strengthen the Company's financial base, resolve certain legal issues, and dispose of non-core businesses outside of Bankruptcy. Despite some progress, the Company concluded that the Chapter 11 route provided the most efficient mechanism to achieve its goals with minimal disruption to each of its businesses.

"We have come to the conclusion that our businesses are better off as focused and independent entities," said James McTaggart, current Chairman of Trinsum. "The goal of the reorganization is to separate each of these businesses in order to permit each to continue to operate independently of one another as strong and focused concerns."