May 23, 2005 — Masters Capital Management LLC and Wilbur L. Ross, Jr. formed a partnership that will focus on investments in early-, mid- and late-stage companies employing nanotechnology-enabled products and solutions.

Mel P. Melsheimer, former president at venture capital firm Harris & Harris Group, with Michael L. Collett from Masters Capital will serve as managing members and managing directors of the new partnership. Michael W. Masters, who organized Masters Capital in 1994 and Ross, serving as a non-voting member, will join Melsheimer and Collett on the partnership’s investment committee. The partnership will be headquartered in Chicago with offices in Virginia and, in the near future, on the West Coast.

As president of Harris & Harris Group since 1997, Melsheimer was involved in making 17 nanotechnology investments. Collett, who led all venture capital investing at Masters Capital, serves on the board of directors of Nano-Tex LLC, an Emeryville, Calif.-based company that provides nanotechnology-based textile enhancements to the apparel and interior furnishings markets. Turnaround financier Ross is chairman of WL Ross & Co. LLC. The firm, with headquarters in New York City, bought bankrupt textile giant Burlington Industries in part to acquire its majority stake in Nano-Tex.