Andrew Lutz Joins Vision Capital

Andrew Lutz has joined Vision Capital Advisors as a managing director, with a focus on fixed-income initiatives. He previously was with Susquehanna International Group.

PRESS RELEASE

New York, December 10, 2008 – Vision Capital Advisors, L.L.C., a New York-based investment advisory firm, today announced that Andrew Lutz, a 13-year veteran in institutional fixed income trading and investing, has joined the firm as Managing Director, effective immediately. Mr. Lutz will head all fixed income initiatives at Vision, a new position, and report to Adam Benowitz and Randy Cohen, Co-Founders of Vision Capital.

“I have known Andy for many years and am thrilled to welcome him to our team,” said Adam Benowitz. “He brings with him an impressive and defined skill set across all fixed income asset classes and we are looking forward to applying his expertise to our business as we build out new products for our clients.”

“Vision Capital represents a new breed of investment firm that is taking value investing to a new level,” said Mr. Lutz. “Adam and Randy have established a remarkable track record and a portfolio of structured growth opportunities. I am excited to expand Vision’s capabilities to non-equity asset classes thus creating a wider range of investment opportunities for their clients.”

Mr. Lutz joins Vision Capital after nearly 17 years at Susquehanna International Group, a privately-held securities trading and investment firm.  From 2004, he headed Susquehanna’s fixed income and structured products businesses. Prior to those management roles, Mr. Lutz was in the firm’s municipal bond business from 1995, ultimately heading the department.  He joined the firm in February 1992 and subsequently spent time as an equity trader and worked in Susquehanna’s private placement group. Mr. Lutz holds an undergraduate degree in finance from the Wharton School at the University of Pennsylvania.

About Vision Capital

Vision Capital Advisors, L.L.C., is an SEC-registered investment advisor established in 2005. Vision is principally engaged in the business of small company finance through private funds that take structured investments in fundamentally strong businesses. The firm is based in New York and has more than 30 employees.