MANAGEMENT GROUP EXECUTES BUYOUT OF VOLUME SERVICES, INC.

     VSI Acquisition II Corp., a new company formed by the core
management group of Volume Services and Blackstone Capital
Partners II, announced they have signed a definitive agreement
with parent company Flagstar Companies to execute a management-
led buyout of Volume Services.  The management-led acquisition is
expected to be finalized by December 31.  Volume Services is
based in Spartanburg, SC, and manages food, merchandise and
ancillary services for sports and entertainment venues including
more than 80 stadiums, arenas, amphitheaters, convention centers
and theme parks throughout the United States.  Volume Services is
also the largest provider of foodservices and team merchandise to
the NFL serving the Rams, Panthers, Bucs, Jaguars, Chiefs,
Vikings, Raiders, 49ers, and Redskins.  It also serves MLB's
Giants, Twins, Yankees, Royals and A's, in addition to numerous
minor league ballparks (Volume Services).