BRIDGEPORT, CT - (April 23, 2002) - As part of Frito-Lay's Minority/Women Business Development program, the company's North American President and CEO Al Bru named Somerset Capital Group Ltd. its 2001 Supplier of the Year for the strategic sourcing and facilities departments. In March 2002, Gulfstream Aerospace Corporation, a wholly owned subsidiary of General Dynamics (NYSE: GD), bestowed a similar honor on the Bridgeport, CT equipment leasing company.

Somerset earned the recognition from Frito-Lay as a result of a successful vendor-leasing strategy executed in partnership with another Frito-Lay supplier, Konica. Together, the two vendors executed an equipment replacement program for Frito-Lay, in which Somerset provided lease financing and administrative support while Konica provided the copiers, printers and associated service. Peter Wasmer, Somerset vice president of sales and marketing, accepted the award during a ceremony at Frito-Lay headquarters in Plano, TX on April 10th, 2002.

"We are very pleased with the partnership that Somerset and Konica brought to us when bidding for our copier business," said Bob Gonzalez, senior group manager for Minority/Women Business Development at Frito-Lay. "Sometimes you have to try to do things differently in order to earn a better return. Somerset and Konica have worked together to demonstrate a new, better method for doing things - a goal we strive to achieve every day at Frito-Lay."

On March 6th, 2002, Somerset was recognized by Gulfstream Aerospace as its minority business supplier of the year during a ceremony in Savannah, GA. The Gulfstream award was earned by Somerset because of its consistently competitive pricing and commitment to servicing the equipment leasing requirements of Gulfstream Aerospace.

"It's quite an honor for a small business to receive one award from a Fortune 500 company, but to receive two such awards in quick succession is really something to be proud of," said Somerset President Pedro E. Wasmer. "We're especially proud to have been recognized for our customer service, which is one of the attributes that has always distinguished Somerset from our competition."

Somerset, a minority-owned equipment leasing company, was established in 1984 by Pedro Wasmer, originally from Santiago, Cuba. Somerset is focused primarily on leasing equipment to the Fortune 1000 companies. In addition to its computer and telecommunications business, Somerset leases manufacturing equipment, materials handling equipment, warehouse systems, forklifts, heavy equipment, production equipment, robotics and satellite equipment, as well as test, lab, medical, and office equipment.

Somerset leases are structured to include operating leases, finance leases or purchase leaseback variations. Each lease, though, is reviewed and analyzed on an individual basis to deliver the most comprehensive solution demanded by the client's situation. Somerset employs over 50 professionals and has eight offices nationwide. Its Fortune 1000 clients are located throughout the United States and in Europe.
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Media Contact: Peter E. Wasmer, Vice President of Sales and Marketing, Somerset Capital, 203.330.2363