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Kappa Media Group Acquires Stake in Bendon Publishing from BEV Capital
October 2007

Ashland, Ohio (October 31, 2007) Bendon Publishing International, Inc. announced today that a subsidiary of Kappa Media Group, Inc. has acquired all of Bendon’s outstanding preferred stock from BEV Capital and affiliates of Hadley Partners, Incorporated.  The founders of Bendon have retained their ownership interests.  Terms of the transaction were not disclosed.

 “We would like to thank BEV Capital and Hadley Partners for their participation and support of Bendon going back four years,” said Ben Ferguson, president of Bendon.  “We are excited about the opportunities created by our new relationship with Kappa, and we look forward to continuing to build our business.  At the same time, we want to thank BEV Capital for their capital, their confidence in us and their guidance over the years, and our investment bankers at Hadley Partners who have been with us every step of the way since 2003.  We could not have done it without them, and we look forward to continuing to work with them.”

This transaction marks the third event in Hadley Partners’ relationship with Bendon.  In 2003, Hadley Partners served as private placement agent in connection with Bendon’s original issuance of preferred to BEV Capital.  In 2005, Hadley Partners served again as advisor, this time in connection with the repurchase by Bendon of a portion of its outstanding common stock as well as a recapitalization of the company.

“From an investment banker’s standpoint, it doesn’t get any better than this,” said David Hadley, founder and president of Hadley Partners.  “BEV Capital – the investment group that invested in Bendon in 2003 through our efforts – has earned a very attractive return on its capital.  The founders of Bendon have created significant value for their colleagues and themselves, and affiliates of Hadley Partners have been able to participate in that growth as shareholders.  Most importantly, Bendon has grown into a leading publisher of children’s books and related products, serving its retailers and licensors while delighting its customers and creating jobs in Ashland, Ohio.  We are proud of our affiliation with Bendon and the contributions we have been able to make to Bendon’s growth, and we look forward to continuing to work with the company.”

About Bendon Publishing (www.bendonpub.com)
Bendon Publishing International Inc., based in Ashland, Ohio, produces a product line that includes coloring and activity books, educational workbooks, flash cards and complete learn-at-home sets, game cards, picture, board, pop-up and novelty books, puzzles, gifts and travel packs. The company holds license agreements for Angelina Ballerina, Arthur, Barbie™, Barney, Bob The Builder, Brainy Baby, Candyland, Disney, Disney Princess, Disney's Little Einsteins™, El Chavo, Garfield, Hello Kitty, Jakers, John Deere™, Littlest Pet Shop, Marvel Heroes, Mr. Potato Head, My Little Pony, NASCAR, NBA, Peanuts, Precious Moments, Sesame Street, Sesame Beginnings, Spiderman, Thomas and Friends, Tonka, Tweety, and Winnie the Pooh. For more information, visit www.bendonpub.com.

About Kappa (www.kappapublishing.com)
Kappa Media Group, Inc. and its Subsidiaries, located in Fort Washington , Pennsylvania, are the largest publishers of puzzle magazine product in the US with additional specialties in the sports and entertainment field. Kappa Graphics, LP, located in Pittston, Pa., is a publication printer and publisher of puzzle books, children's activity books and licensed specialty product sold principally in the US and Canada. For more information, visit www.kappapublishing.com.

About BEV Capital (www.bevcapital.com)
BEV Capital is a specialized venture capital fund focused on consumer-oriented businesses. The core of our business is investing in consumer companies.  This includes retailers, Internet businesses, consumer products, consumer services, media, and restaurants. We also invest in supporting technologies for consumer companies such as marketing software and services, Internet technologies, retail IT, information services, and analytics.  For more information, visit.

About Hadley Partners (www.hadleypartners.com)
Founded in 1999, Hadley Partners provides the highest-quality merger & acquisition advisory, private placement and financial advisory services. We have a world-class team of veteran bankers that bring Wall Street experience to middle-market and emerging growth companies. Our goal is to develop relationships of trust with the leaders of these companies and with investors that pursue investment opportunities in such companies. We provide our services in a fair and flexible manner, and we always put our clients’ interests first. Hadley Partners is a registered broker-dealer, and a member of the Financial Institution Regulatory Authority (formerly the NASD) and the Securities Investor Protection Corporation.  For more information, visit.

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