FOR IMMEDIATE RELEASE

Business Inquiries: KPS Capital Partners     212.338.5100

Media Relations: Mark Semer/Joseph Kuo     212.521.4800

New York, NY (March 5, 2007) -- KPS Capital Partners, LP ("KPS") announced today that a newly formed affiliate, Bristol Compressors International, Inc. (“Bristol” or the “Company”), has acquired the assets of Bristol Compressors, Inc. from Johnson Controls, Inc. (NYSE: JCI). Financial terms of the transaction were not disclosed.

Bristol is a leading global manufacturer and designer of compression technology used in residential and commercial air conditioning and heat pump applications. The Company supplies many of the world’s leading HVAC manufacturers as well as wholesale distributors. The Company is based in Bristol, Virginia and its products are marketed and sold on six continents and more than fifty countries around the world.

Bristol’s senior management team will implement a business plan developed in partnership with KPS focused on improving manufacturing operations, productivity and supply chain management. The KPS investment will also provide the Company with access to substantial capital to continue new product development.

David Shapiro, a Managing Partner of KPS, said "We are excited to be the catalyst that transforms Bristol into a thriving competitor in the rapidly changing HVAC industry. Bristol successfully developed market-leading products in its Benchmark line that will enable the Company to prosper as the North American HVAC industry undergoes significant regulatory and technological changes. The Company’s established franchise, highly regarded brands and commitment to customer service form a terrific base from which to grow the business both domestically and internationally.”

Rick Izor, Chief Executive Officer of Bristol, commented, “This transaction marks the beginning of a new era for Bristol, with a new owner that has a track record of elevating good companies to achieve world-class operating performance. KPS’s manufacturing expertise and capital resources will advance Bristol’s position as a leading manufacturer and distributor of compressors. I would like to thank our customers, vendors and employees for their continued support.”

Edwards Angell Palmer & Dodge LLP served as legal counsel to KPS with respect to the transaction. William Blair & Company served as financial advisor to Johnson Controls.

About KPS Capital Partners, LP

KPS Capital Partners, LP is the manager of the KPS Special Situations Funds, a family of private equity funds with over $600 million of committed capital focused on constructive investing in restructurings, turnarounds and other special situations. KPS has created new companies to purchase operating assets out of bankruptcy; established stand-alone entities to operate divested assets; and recapitalized highly leveraged public and private companies. The KPS investment strategy targets companies with strong franchises that are experiencing operating and financial problems. KPS invests its capital concurrently with a turnaround plan predicated on cost reduction, capital investment, and capital availability. Typically, the KPS turnaround plan is accompanied by a financial restructuring of the company's liabilities. The KPS investment strategy and portfolio companies are described in detail at the firm's website: www.kpsfund.com.