LARGE FRANCHISEES:

Company Name: MUY Brands, LLC
Principal: Jim Bodenstedt
Number of Restaurants: 115
Brands: Taco Bell, Pizza Hut, KFC, Long John Silver, A&W
Auspex Client Since: 2004
Services Provided: Buy side M&A, Debt Placement, Strategic Advisory, Bridge
Financing Relationship with Auspex Principals Since: 2001
Quote: "Without Auspex there is no way we would have grown from zero to 115 restaurants in the last six years."

Company Name: Border Foods, Inc.
Principal: Lee Engler
Number of Restaurants: 180
Brands: Taco Bell, Pizza Hut, KFC, Long John Silver, Sonic
Auspex Client Since: 2004
Services Provided: Buy Side M&A, Sell Side M&A, Debt Placement, Strategic Advisory, Sale Lease Structuring and Placement, Valuation Relationship with Auspex Principals Since: 1993
Quote: "You only know what you know. Auspex knows what we don't know"

Company Name: Sentinel Capital Partners
Principal: John McCormack
Number of Restaurants: 225
Brands: Pizza Hut (Formerly Taco Bell and Church's)
Auspex Client Since: 2005
Services Provided: Buy side M&A, Debt Placement, Strategic Advisory
Relationship with Auspex Principals Since: 1995
Quote: "As a generalist private equity firm it is imperative that we surround ourselves with top flight industry experts. Auspex fits that bill"

Company Name: Southern Multi-Foods
Principal: Larry Durrett
Number of Restaurants: 80
Brands: Taco Bell, Long Johns
Auspex Client Since: 2004
Services Provided: Debt Placement, Sell side M&A
Relationship with Auspex Principals Since: 2001
Quote: "Any time we need a financial advisor we always turn to Auspex Capital. I don't see that ever changing"

Company Name: Kaizen Holding, LLC
Principal: Syed Ahmad
Number of Restaurants: 125
Brands: Burger King, Dennys, Popeyes, Del Taco
Auspex Client Since: 2008
Services Provided: Sell side M&A, Strategic advisory
Relationship with Auspex Principals Since: 2008
Quote: "I have the highest degree of respect for the Auspex team's integrity and professionalism"

MID-SIZED FRANCHISEES:

Company Name: Doro, Inc.
Principal: Jon Munger
Number of Restaurants: 60
Brands Hardees, Taco Johns
Auspex Client Since: 2004
Services Provided: Buy side M&A, Debt Placement, Recapitalization, Bridge Loan, Sale Lease-back, Strategic Advisory, Valuation, Equity Placement
Relationship with Auspex Principals Since: 2001
Quote: "Without Auspex I don't think we would even be in business today."

Company Name: Progressive Restaurants, Inc.
Principal: Nick Davis
Number of Restaurants: 32
Brands Taco Bell, KFC, Long John Silver
Auspex Client Since: 2005
Services Provided: Buy side M&A, Debt Placement, Strategic Advisory, Bridge Loan,Sell-side M&A
Relationship with Auspex Principals Since: 2001
Quote: "Over the years these guys have made me a ton of money."

Company Name: RGT Foods, Inc.
Principal: Sean Tuohy
Number of Restaurants: 70
Brands Taco Bell, KFC, Long John Silver, A&W
Auspex Client Since: 2004
Services Provided: Buy side M&A, Debt Placement, Sale Lease-back, Bridge Loans,Strategic Advisory
Relationship with Auspex Principals Since: 2001
Quote: "Really sharp guys that know what they are doing"

Company Name: RKM Enterprises, Inc.
Principal: Rafe Montgomery
Number of Restaurants: 22
Brands Taco Bell
Auspex Client Since: 2006
Services Provided: Debt Placement, Strategic Advisory, Recapitalization, Equity Placement, Bridge Loans
Relationship with Auspex Partners Since: 2006
Quote: "Auspex has been an indispensable resource for my company."

Company Name: The Slaymaker Group
Principal: Scott Slaymaker
Number of Restaurants: 45
Brands TGIF, Wingers
Auspex Client Since: 2002
Services Provided: Strategic Advisory, Recapitalization, Bridge Loans, Debt Placement
Relationship with Auspex Principals Since: 2002
Quote: "The Auspex team has a complete understanding of my company's financial situation. We take great comfort having them on our team"

SMALL FRANCHISEES:

Company Name: Plaza Dine, Inc.
Principal: Dennis Durett
Number of Restaurants: 9
Brands Taco Bell, KFC, Long John Silver's
Auspex Client Since: 2006
Services Provided: Buy side M&A, Debt Placement, Sale Lease-back, Strategic Advisory
Relationship with Auspex Principals Since: 2001
Quote: "I couldn't be happier with the service Auspex has provided to my company"

Company Name: J&S Foods, Inc.
Principal: Steve Stoico
Number of Restaurants: 7
Brands Taco Bell, Pizza Hut Express
Auspex Client Since: 2005
Services Provided: Recapitalization, Debt Placement, Strategic Advisory
Relationship with Auspex Principals Since: 2001
Quote: "My company is where it is today because of Auspex."

Company Name: Simply Tacos, Inc.
Principal: Lee Mitchell
Number of Restaurants: 8
Brands Taco Bell, Pizza Hut Express
Auspex Client Since: 2005
Services Provided: Buy side M&A, Debt Placement, Strategic Advisory
Relationship with Auspex Principals Since: 2001
Quote: "With all the time and attention they give me, sometimes I wonder if they know I am only an eight unit operator"

Company Name: Orchard Foods, Inc.
Principal: Peter Braun
Number of Restaurants: 10
Brands Taco Bell, KFC
Auspex Client Since: 2006
Services Provided: Debt Placement, Strategic Advisory, Recapitalization.
Relationship with Auspex Principals Since: 2001
Quote: "Auspex has been a relentless and extremely effective advocate of my interests"

Company Name: Gilbertson Restaurants, LLC
Principal: Perry Beaton
Number of Restaurants: 5
Brands Burger King
Auspex Client Since: 2006
Services Provided: Debt Placement, Bridge Loan
Relationship with Auspex Principals Since: 2003
Quote: "Auspex worked very hard to make sure I got the best financing package available."