Westchester advises an Investor Group led by Chris Haden in its acquisition of Document Solutions International Ltd (“DSIL”) from Formscan plc

LONDON - July 31, 2007

Westchester Associates Limited today announced that it acted as M&A advisor to an Investor Group led by new Managing Director - Chris Haden - (the "Investor Group") in its acquisition of the Document Solutions International Ltd (“DSIL”) division of Formscan plc. In addition to acquiring the DSIL business, the agreement also states that the newly independent DSIL business will retain the rights to the Formscan name in the UK and most European countries.

The new Formscan business has historically provided automatic invoice processing data capture solutions, primarily in the UK market. The Investor Group led by Chris Haden plans to use Formscan as a platform upon which to build a significant Document Solutions business throughout Europe and beyond. Formscan services will be extended to encompass hosted solutions, archive and retrieval, compliance, and disaster recovery solutions, based on Mr Haden’s successful track record in this field and that of his team of experts.

Commenting on Westchester’s significant contributions to the acquisition process, MD Chris Haden remarked, "Westchester played a key role in formulating the deal with Formscan plc (now renamed Inspectron Holdings plc) and in the negotiation of the terms of the agreement. In addition, their in-depth knowledge of the Document Solutions marketplace in both Europe and the USA was vital to this transaction and to the future plans we have to build upon the Formscan platform with Westchester’s continued assistance”.

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