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U.S. Bancorp Piper Jaffray Represents Haas Wheat & Partners' Portfolio

Company, Nebraska Book Company, in Minority Sale to Weston Presidio Capital

MINNEAPOLIS, Aug. 7 /PRNewswire-FirstCall/ -- U.S. Bancorp Piper Jaffray, a leading mergers and acquisitions (M&A) advisor, served as exclusive financial advisor to NBC Acquisition Corp., parent company of Nebraska Book Company, in a sale of a minority interest in the company by Haas Wheat & Partners and other shareholders to Weston Presidio Capital.  The transaction closed on August 2, 2002.

Founded in 1915, Nebraska Book is one of the largest companies in the college bookstore industry.  Its wholesale operation sells more than

7.5 million textbooks annually to nearly 3,000 college bookstores.  The company owns or manages 108 bookstores serving college campuses, selling new and used textbooks and a variety of general merchandise.  The company's e-commerce offering is provided by its affiliate, TheCampusHub.com, which has nearly 450 campuses deploying its state-of-the-art Internet solution.  The company also provides additional services that complement its other offerings, including centralized buying services to member bookstores; distributing materials to courses involved in distance education and selling proprietary information systems.

Nebraska Book was clearly one of the more exciting investment opportunities to be brought to the middle market in the past several years, said Michael Dillahunt, vice president in U.S. Bancorp Piper Jaffray's Middle Market M&A Group.  The company has an extremely stable and predictable business model.  As a result of its leadership position in its market and the strong inherent growth characteristics of the college demographic that it serves, Nebraska Book has been able to achieve a consistent long-term pattern of exceptionally strong growth in revenue and EBITDA.

For Weston Presidio, it was an opportunity to invest in a clear market leader with a first class management team, said John Hogan, principal at U.S. Bancorp Piper Jaffray, focused on private equity relationships.  For Haas Wheat and other shareholders, it was an opportunity to gain some measure of liquidity, while at the same time, team-up with a partner who shares their vision as to the growth opportunities still in front of the company.  This was an exceptional outcome for all parties involved.

About Haas Wheat & Partners:

Haas Wheat & Partners, a Dallas-based private investment firm, is engaged in leveraged buyouts primarily in the consumer products and healthcare industries.  Haas Wheat and its predecessors and affiliates have completed more than $7 billion of transactions over the past 20 years.

About Weston Presidio Capital:

Weston Presidio is an investment partnership that invests equity capital into privately held growth companies.  Weston Presidio was founded in 1991 and manages over $2.2 billion of capital.  With offices in San Francisco, Boston and Menlo Park, Calif., Weston Presidio has worked side by side with the entrepreneurs behind over 200 companies.  Weston Presidio has an investment team of 20 people with a proven track record and is committed to helping portfolio companies become industry leaders.  The funds participating in the above referenced transaction are Weston Presidio Capital III and IV and the related WPC Entrepreneur Funds.

About U.S. Bancorp Piper Jaffray:

U.S. Bancorp Piper Jaffray, a subsidiary of Minneapolis-based

U.S. Bancorp (NYSE: USB), provides a full range of investment products and services to businesses, institutions and individuals.  The company's investment banking business has grown significantly in the last several years by focusing on the needs of growth companies in the health care, technology, financial institutions, consumer and manufacturing and services sectors.  U.S. Bancorp Piper Jaffray has a national reputation for its expertise in fundamental research, equity and debt financing and mergers and acquisitions advisory.  U.S. Bancorp offers a comprehensive range of financial solutions through U.S. Bank, U.S. Bancorp Asset Management, U.S. Bancorp Investments and U.S. Bancorp Piper Jaffray.

Nondeposit investment products are not insured by the FDIC, are not deposits or other obligations of or guaranteed by U.S. Bank National Association or its affiliates, and involve investment risks, including possible loss of the principal amount invested.  Securities products and services are offered through U.S. Bancorp Piper Jaffray Inc., member SIPC and NYSE, Inc., a subsidiary of U.S. Bancorp.   (5/99-0679)

MAKE YOUR OPINION COUNT -  Click Here

http://tbutton.prnewswire.com/prn/11690X10869391

SOURCE  U.S. Bancorp Piper Jaffray

    -0-                             08/07/2002

/CONTACT:  Erin Freeman, Director of Public Relations, +1-415-277-1595, or Dana Wade, Public Relations, +1-415-277-1556, both of U.S. Bancorp Piper Jaffray/

/Web site:  http://www.piperjaffray.com  /

(USB)

CO:  U.S. Bancorp Piper Jaffray; NBC Acquisition Corp.; Nebraska Book Company;

Haas Wheat & Partners; Weston Presidio Capital

ST:  Minnesota, Texas, California, Massachusetts
IN:  FIN MFD PUB BKS ENT EDU ECM CPR
SU:  TNM

ES-CK
-- MNW010 --
4216 08/07/2002 10:58 EDT http://www.prnewswire.com

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding U.S. Bancorp's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.



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