National Archival Services Merges with ArchivesOne of Watertown, CT

For Immediate Release
Friday, September 29, 2000

Columbus, OH - ArchivesOne, a Watertown company specializing in records management and storage services, has merged with National Archival Services in Columbus, Ohio.

The transaction represents a 26% growth increase for ArchivesOne. American Bank of Connecticut, headquartered in Waterbury, Connecticut provided the debt financing. Equity investors, led by Housatonic Partners, a Boston based venture capital firm and current ArchivesOne shareholder, and FARM Capital Services, provided $1.70 million in equity financing.

"This is a positive next step in our corporate evolution," stated Joyce Healy-Abrams, President of National Archival Services. "ArchivesOne is a solid partner with the necessary management fundamentals needed to grow our business."

"I am very enthusiastic about the deal," stated ArchivesOne President and Director of Customer Happiness A. J. Wasserstein. "The new customers will fit nicely into our existing customer base and move us toward our goal of being a super regional player in the industry." The transaction adds approximately 225 customers to ArchivesOne in the Central Ohio marketplace as well as a 140,000 square foot of state-of-the-art commercial records facility.

ArchivesOne CFO John Pavlovich said, "This is a wonderful cultural match. National Archival Services has a great group of people, all of which will be retained, and a super customer service attitude that meshes well with the ArchivesOne culture." Joyce Healy-Abrams, will be a shareholder at ArchivesOne, a Director on the ArchivesOne Board and will assume the position Senior Vice President of Corporate Development. "I'm looking forward to working with Joyce and am excited about having her on our team," stated Wasserstein.

ArchivesOne is in the business of providing records management and storage services to banks, law firms, hospitals, corporations and medical practices. ArchivesOne services customers in Connecticut, Long Island, New Jersey, Ohio, and Westchester. Since its inception in 1991, ArchivesOne has grown substantially. From zero people and zero customers, the company now boasts over 1,300 customers and 80 team members.

For further information:
Lynn DeJoseph, DeJoseph Ohlsen Group (203) 799-2671