Fiber Composites and Sensibuilt Building Solutions Announce Merger

New London, NC - December 16, 2008 - Fiber Composites, LLC and Sensibuilt Building Solutions have reached a definitive merger agreement that will join their assets and brands. Pegasus Capital Advisors, which held a majority interest in Sensibuilt, will be investing in Fiber Composites and will retain a minority position in the post-merger company.

Sensibuilt will join the family of Fiberon brands. Fiberon branded products include new Horizon Decking with PermaTech Innovation. Additional key brands in the Fiberon decking product group include Professional, Premium Grain, and Tropics. Also featured are a wide selection of Fiberon railing products to complement its deck boards and composite fencing products promoted under the Enclave brand.

Sensibuilt Building Solutions, launched in 2007, has introduced new-generation PVC technology for decking and siding, backed by the industry's first 10 Year Color Hold Warranty. Sensibuilt PVC decking features patented pending Lumenite coating technology to create a surface that offers ultimate stain, scratch and fade resistance.

Bill Collins, Chairman of Sensibuilt Building Solutions, will remain with the post-merger company as vice chairman.

About Fiber Composites
Fiber Composites, LLC is a manufacturer of composite decking, railing and fencing used in homes and light commercial construction across North America. Its Fiberon brand product line is designed specifically for professional contractors. Fiber Composites was founded in 1997 and is a privately owned company with operations in North Carolina and Idaho.

About Sensibuilt
Sensibuilt decking offers homeowners a practical, long-lasting alternative to wood, made from PVC and featuring Lumenite, a patented fusion bonded surface technology that outperforms and outlasts every other product on the market. It's a scientific breakthrough, and a testament to the power of the Sensibuilt approach-better performance through better technology, for a cleaner, more sustainable world.

About Pegasus Capital Advisors
Pegasus Capital Advisors, L.P. is a private equity fund manager that provides capital to middle market companies across a wide variety of industries. It is currently pursuing initiatives in several key emerging sectors, including alternative energy, all-natural human and pet foods, alternative building materials, LED lighting, homeland security and sustainable business solutions in a number of industries. Established in 1995, Pegasus manages over $1.8 billion in assets through several private equity funds and has made more than 70 investments.