Northbrook, IL - May 19, 2003 - Transcap Associates, Inc. ("Transcap") is pleased to announce that John T. Marrinson, presently Director of Account Management for the company, and Paul D. Schuldiner, presently National Business Development Director, have recently been named a principals in the firm.

Marrinson:
Mr. Marrinson began his career with Transcap over 10 years ago as an associate in the account management group. Four years ago he was promoted to Director of Account Management and now oversees all account management operations on a daily basis.

His responsibilities include developing, implementing and monitoring all account management functions and participating in the development of credit procedures and policies. Mr. Marrinson's extensive knowledge and expertise in trade finance allows him to assist Transcap's clients in solving their cash flow needs by utilizing the firm's financing programs.

Mr. Marrinson is a member of Transcap's executive committee and its credit committee, which is responsible for reviewing, evaluating and approving potential deals and transactions.

Schuldiner:
Based out of the company's New York office, Mr. Schuldiner began working for Transcap seven years ago as the Managing Director for the Eastern region. Three years ago, he was promoted to National Business Development Director with responsibility for managing all sales, marketing and business development activities nationwide.

In addition to being a member of Transcap's executive planning and credit committee, (which is responsible for reviewing, evaluating and approving potential deals and transactions for the company), he is also the firm's national practice leader for the apparel and textile industry.

A seventeen year experienced professional in the accounting and commercial finance industry, Mr. Schuldiner is a Certified Public Accountant and has recently served as Chairman for the New York State Society of CPAs Apparel and Textile Committee, Chairman of the Commercial Finance League and is on the board of directors for the CFA and the TMA New Jersey Chapter.  He has also been published on the topic of purchase order and trade finance in many of the trade journals serving the finance and apparel industries.

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