Washington, D.C., March 2011

Thayer | Hidden Creek is pleased to announce that it has priced a Public Secondary Offering of all of TC Carting III, L.L.C.’s (a holding company for Thayer | Hidden Creek’s shares of stock in IESI–BFC Ltd.). The pricing of the 10,906,195 shares was at $23.50 per share.

IESI-BFC Ltd. is the third largest North American full-service waste management company, providing non-hazardous waste collection and landfill disposal services for municipal, commercial, industrial and residential customers in six Canadian provinces and twelve US states.