COSTA MESA, Calif. - May 10, 2004 -- Cass Construction, headquartered in El Cajon, Calif., has acquired Vazzana Underground Construction of Wildomar, Calif. Terms of the transaction were not publicly disclosed.

RSM EquiCo Capital Markets initiated the transaction, led the negotiations and acted as the exclusive financial advisor to Vazzana Underground Construction.

"Vazzana Underground Construction serves some of the top residential homebuilders throughout Southern California and enjoys long-standing relationships spanning more than a decade," said Randy Krauthamer, senior managing director of RSM EquiCo Capital Markets. "Over the last three fiscal years more than 50% of the company's revenue was generated from repeat customers."

"The acquisition of Vazzana Underground Construction greatly increases Cass Construction's presence in Riverside County and other parts of Southern California's Inland Empire," Krauthamer added.

About Vazzana Underground Construction

Vazzana Underground Construction is a construction firm that installs underground water, sewer and utility lines. The company is also certified by Southern California Edison to install electrical components, including transformers and wiring. Vazzana Underground Construction, which has 70 full-time and 20 part-time employees, handles projects up to $3 million. Headquartered in Riverside County, the company also operates a branch office in Las Vegas that the founder will retain and continue to operate.

About Cass Construction

Cass Construction is a regional contracting firm specializing in residential and industrial underground construction projects. The company's projects include infrastructure improvement programs for municipal water systems and involve enhancements on pipelines, water pump stations, reservoirs and treatment plants.

About RSM EquiCo, Inc.

RSM EquiCo is a leading global investment banking firm serving private middle-market companies throughout North America. With more than 400 professionals and support personnel, the firm specializes in mergers, acquisitions and divestitures for non-public companies with up to $250 million in annual revenues. Based in Costa Mesa, Calif., RSM EquiCo is part of RSM McGladrey Business Services, a business segment of H&R Block Inc. For more information, log on to www.rsmequico.com.