Angelo, Gordon & Co.'s Net Lease Group Acquires 50 Percent Interest in Solo Cup Portfolio for $65 Million

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Angelo, Gordon & Co.'s ("Angelo Gordon") dedicated Net Lease Group ("AG Net Lease") announced today the acquisition of a 50% interest in a portfolio of manufacturing facilities net leased to Solo Cup Company ("Solo Cup"), a leading provider of disposable foodservice products. The portfolio includes Solo Cup manufacturing plants in Dallas, Chicago, Urbana, Ill., Augusta, Ga., Conyers, Ga., and Federalsburg, Md.

As a long-term, buy-and-hold investor of operationally critical corporate real estate, we are delighted to own a 50% interest in one of the most significant manufacturing platforms in the disposable foodservice product space, leased to Solo Cup, the finest brand in the industry.

    Solo Cup Company is a $2.5 billion company exclusively focused on the manufacture of disposable foodservice products for the consumer/retail, foodservice and international markets. Solo Cup has broad expertise in paper, plastic, and foam disposables and creates brand name products under the Solo and Sweetheart names. Solo Cup was established in 1936 and has a global presence with facilities in Asia, Canada, Europe, Mexico, Panama and the United States.

Gordon J. Whiting, Managing Director and Senior Portfolio Manager of AG Net Lease, commented, "This transaction demonstrates our ability to partner on large and complex ventures in difficult market environments, requiring our unique combination of credit expertise, principal real estate investment experience, and highly competitive capital structure."

Teddy Kaplan, Managing Director and co-manager of AG Net Lease, added, "As a long-term, buy-and-hold investor of operationally critical corporate real estate, we are delighted to own a 50% interest in one of the most significant manufacturing platforms in the disposable foodservice product space, leased to Solo Cup, the finest brand in the industry."

About Angelo, Gordon & Co. and AG Net Lease

Angelo, Gordon & Co. was founded in 1988 and with its affiliates has approximately $15 billion under management. Currently, the firm's investment disciplines encompass four principal areas: (i) distressed debt and leveraged loans, ii) real estate, (iii) private equity and special situations and (iv) a number of hedge fund strategies. Angelo, Gordon & Co. employs over 70 investment professionals and is headquartered in New York, with associated offices in Los Angeles, Chicago, London, Hong Kong and Seoul.

AG Net Lease is comprised of a team of experienced professionals committed to providing sale-leaseback financing to financial sponsors and below investment grade companies across a range of industries. AG Net Lease is currently investing its first dedicated net lease fund which closed earlier this year and will seek to purchase as much as $500 million of net leased corporate real estate in the U.S. and abroad with transactions ranging from $5 million to $200 million. AG Net Lease's unparalleled credit and real estate underwriting expertise, coupled with its unique funding platform, ensures highly competitive pricing and speed of execution to tenants and sponsors. Additional information on AG Net Lease can be found at http://www.angelogordon.com/netlease.

About Solo Cup Company

Solo Cup Company is a $2.5 billion company exclusively focused on the manufacture of disposable foodservice products for the consumer/retail, foodservice and international markets. Solo has broad expertise in paper, plastic and foam disposables and creates brand name products under the Solo and Sweetheart names. The Company was established in 1936 and has a global presence with facilities in Asia, Canada, Europe, Mexico, Panama and the United States. To learn more about the Company, visit http://www.solocup.com .

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Teddy Kaplan
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