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U.S. Growth Funds Commits to Invest in Dallas Based SBIC, Independent Bankers Capital Fund, L.P.

FORT WORTH, TX – November 9, 1999 – The U.S. Growth Funds Corporation (USGF), (formerly known as KBK Capital Corporation), announced today that it has committed to invest as a founding limited partner in the Independent Bankers Capital Fund, L.P.  USGF’s investment commitment may be drawn down by the partnership as and when investment opportunities are added to the portfolio.

Chartered in 1999 as an SBIC, the fund is a $70,000,000 Dallas-based private equity fund with initial partner’s capital of approximately $23,000,000. The fund’s limited partners include 56 Texas-based independent community banks.  The fund specializes in providing equity capital to lower-middle market companies in the Southwestern United States with revenues exceeding $10 million and targets basic manufacturing, distribution and service businesses. 

Independent Bankers Capital Fund is managed by veteran fund managers, Floyd Collins and Barry Conrad who have more than 60 years of combined experience investing in middle market businesses headquartered throughout the Southwest. To learn more about the Independent Bankers Capital Fund, click here.

“SBIC success stories include such well known corporate names as Federal Express, Apple Computer and Intel, in addition to thousands of other small businesses that have created substantial increases in their enterprise value,” said Partner Jenna Benner  “we are excited about the prospects of working with our new partners at IBCF and the opportunities to provide senior and subordinated debt and co-invest.

"This strategic investment joins USGF in partnership with the ability to co-invest with other private equity firms and provide capital to growing businesses," said Managing Director Bobby McGee.  "We are pleased to support Floyd and Barry in this strategic alliance."

USGF is a private equity firm and an equity investor in management and employee buyouts; invests in private equity sponsored buyouts, provides capital directly to private and small public companies. USGF provides capital to fund growth, acquisitions, going-private transactions and recapitalizations.

This press release contains forward-looking statements. The statements regarding expected results of U.S. Growth Funds Corporation are subject to various factors and uncertainties, including the uncertainties associated with the timing of transaction closings, changes in interest rates, availability of transactions, changes in regional or national economic conditions, or changes in the conditions of the industries in which U.S. Growth Funds Corporation has made investments.