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8/1/08 EBO Group, Inc. Becomes a 100% ESOP

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EBO Group, Inc
1441 Wolf Creek Trail
Sharon Center, OH 44274
(330)590-8105

PRESS RELEASE

Contact: Keith Nichols, President, EBO Group, Inc. (330)590-8105 or knichols@ebogroupinc.com

EBO Group, Inc. becomes a 100% ESOP

October is Employee Ownership Month

The EBO Group, Inc., located in Sharon Center, Ohio, is pleased to announce that the company made an important transition to a 100% employee stock ownership plan (ESOP) business on August 1, 2008. Created in 1978, the company became an ESOP in 1990.

“Becoming 100% owned by our ESOP trust has been an important succession goal for EBO Group,” said Keith Nichols, President, EBO Group. “It solidifies our desire to entrench the ownership culture within our company for the long term. Our ownership culture is the engine that drives the innovation and entrepreneurial spirit which are keys to our growth and shared success.”

As its name suggests, EBO Group, or Excellence By Owners, is dedicated to the concept of employee-owners working towards a common goal of continuous success through excellence at every level of the operation. All EBO Group employee-owners share in the rewards of the success enjoyed by each of the subsidiary companies. The employee stock ownership program was established as a way to evolve ownership from the original founders to the employees. The ESOP has served to enable the company to remain independent, as well as to attract and retain top talent. The EBO Group, currently with 77 employees, is an umbrella organization that is home to four, fully-owned subsidiaries: PT Tech; TransMotion Medical, Inc.; IPESsol; and Triton Hybrid Drives, Inc.

The concept of the employee stock ownership plan was developed in the 1950s. In 1973, federal legislation promoting ESOPs was passed; most importantly the Employee Retirement Income Security Act of 1974 (ERISA), which governs employee benefit plans established a statutory framework for ESOPs. Ohio is home to 450 ESOPs and there are approximately 11,000 ESOPs in the United States. These companies have over 10 million employee owners and total assets of $800 Billion. Approximately 2,500 ESOPs are 100% owned.

This October, EBO Group along with The ESOP Association and the employee ownership community, will be celebrating Employee Ownership Month, which is a tribute to the incredible spirit of employee ownership. Employee Ownership Month is an opportunity for ESOP (employee stock ownership plan) companies across the U.S. to educate employee owners and the public about the tremendous benefits of ESOPs.