GWW Associates, LLC
Hunt Valley, MD
October 2006

Bengur Bryan & Co., Inc. provided the management of GWW Associates, LLC financial advisory services in connection with GWW’s purchase of Preferred Membership Interests in Flagship Atlantic Dairy, LLC.

Kennilworth Holdings, Inc. (“Kennilworth”) is a merchant banking firm that sponsored the formation of Flagship Atlanta Dairy, LLC. As part of their business and involvement in the formation of the entity, Kennilworth formed GWW Associates, LLC and North Park Associates, LLC to invest in the newly formed Flagship Atlanta Dairy, LLC (“Flagship”).

Flagship Atlanta Dairy, LLC was formed to create a major regional fluid milk processor in the Southeastern region of the United States through a combination of acquisitions and internal growth. The first milk processing operation acquired by Flagship was the New Atlanta Dairies Division (“NAD”) of Farmland Dairies, LLC located in Atlanta, Georgia. Farmland Dairies was the surviving entity from the bankruptcy re-organization of Parmalat USA.