Charlotte and Raleigh, N.C. - Kennedy Covington remains one of the top private equity and venture capital law firms in the country, according to the March issue of Private Equity Analyst , a Dow Jones publication.

For the fourth consecutive year, Kennedy Covington led all Southeast-based law firms in the overall number of completed transactions - both closed private equity and venture capital deals.

"Our private equity and venture capital practices enjoyed another busy and successful year," said Steve Rhyne, chair of Kennedy Covington's corporate section. "Our deal flow in 2007 was strong, buoyed by significant continued activity in the middle market in the second half."

In 2007, Kennedy Covington closed more than 90 private equity and venture capital transactions across the country. These transactions include the representation of:

Affiliates of Bank of America Corporation in a variety of investment and strategic matters and liquidity transactions including Banc of America Capital Investors in its leveraged acquisition of Veroxity Technology Partners, a Massachusetts-based provider of optical data networks.

Bison Capital in its recapitalization of Big Rock Sports, LLC, the largest distributor of fishing, shooting sports and camping equipment in the U.S.

CapitalSouth Partners in various investment transactions, including its acquisition of Southern Parts & Engineering, Inc., a provider of parts and service for industrial air compressors.

Carousel Capital Partners on several transactions, including its leveraged acquisition of Jameson, L.L.C., a provider of specialty tools and accessories for utilities, cable, telecom and the military.

EverWatch Capital in various investment transactions, including its recapitalization of Empire Scaffold L.L.C., a provider of scaffold design, construction and dismantling services.

Plexus Capital in various investment transactions, including its subordinated debt investment in Agility Recovery Solutions Inc., a provider of business continuity and recovery services .

Affiliates of Wachovia Corporation in a variety of financing, strategic and acquisition transactions including Wachovia Capital Partners in the sale of its portfolio company, British Salt Limited.

About Kennedy Covington

Founded in 1957, Kennedy Covington is one of the largest law firms in the Carolinas with offices in Charlotte, Raleigh, Research Triangle Park, Columbia and Rock Hill. Our attorneys use their diverse experience and knowledge to counsel clients in varied industries such as banking and finance, real estate, technology, health care, manufacturing and the services sector. At Kennedy Covington, we give more than a legal opinion; we provide a business perspective.

Media Contacts:

Allison Bowman
Communications Manager
Kennedy Covington
(704) 350-4410
abowman@kennedycovington.com

Beth Doughty
Corder Philips (for Kennedy Covington)
(704) 378-2118
bdoughty@corderphilips.com