January 22, 2004. Having served as the company's financial advisor for the past 18 months, Clay Dunnagan, formerly Managing Director of Dunnagan Acquisitions, LLC, recently joined Vital Source Technologies to spearhead business development. Over the course of the last 14 years, he has completed over 100 transactions involving approximately $1 billion, including initial public offerings, mergers & acquisitions, restructurings and private placements. He holds an MBA from the Kenan-Flagler Business School and undergraduate degrees from North Carolina State University.

About Vital Source Technologies, Inc.

Vital Source Technologies, Inc. is a solutions provider of software and content to the education markets. Vital Source provides a suite of software and services for graduate and professional schools, undergraduate schools, and elementary and secondary schools.