Management-led group offers $33.80 per share

• $6.3B equity value, $8.3B including assumed debt
• Offer from CEO and private equity funds

• Joseph Neubauer is CEO - controlling shareholder

• Owns 39.6% of Class A common (10 votes per share)
• Owns 16.8% of Class B common (1 votes per share)
• Ownership table At page 18

• Deal summary (Slide presentation)
• Background of the Merger

Announced 8.08.06

• Press release
• Form 8-K
• Schedule 13D amendment (Neubauer)

Closed 1.26.07

• Press release
• Form 8-K

• Exhibits

• Form 25

Business services (Cafeterias, food, uniforms)

• Business description

Original proposal was at $32 per share

• Opposed by hedge fund, Eminence Capital

• Offer was increased to $33.80 (5.625%)
• Eminence claims RMK is worth more than $37 per share

• In revised deal, CEO Neubauer has agreed to vote
  his ten-vote A stock to have only one vote per share

Developments

• Slide presentation 9.18.06

Private equity firm sponsors

• GS Capital Partners
• CCMP Capital Investors
• JP Morgan Partners
• Thomas H Lee Partners
• Warburg Pincus LLC

Buyout group - Initial 13D filings 5.11.06

Buyout group - 13D amendments 8.10.06

Financial

• Sponsors: Goldman Sachs / JP Morgan
• Special committee:   Credit Suisse

Legal

• Sponsors: Simpson Thacher / Sullivan & Cromwell / Wachtell
• Special committee: Shearman & Sterling

Initial buyout offer was $32 per share May 2006

• Letter to board 5.01.06
• Highly confident letter (Goldman - JP Morgan)
• Company press release

• Company forms special committee

Offer was opposed by hedge fund  Eminence Capital

• Held 5.8% prior to initial buyout proposal
• Has increased its holdings to 9.4%

Eminence presentation to special committee 6.12.06

• Slides
• Precedent deals analysis

• Per share values of $37.00 to $41.26, or even higher

• LBO analysis

• Per share values of $38.91 to $42.49

• Argues for pursuit of alternatives

• Including a leveraged 20% - 30% share repurchase

Eminence sells off most of its holdings 8.11.06

• 13D amendment shows 1.7% position

Eminence Capital 13D filings

Interim investors agreement

Voting agreement (Neubauer) 

Rights agreement amendment   8.08.06

Rights agreement amendment     4.28.06

No financing condition

Equity commitment letters

• GS Capital Partners $400mm
• CCMP Capital Investors $200mm
• JP Morgan Partners $200mm
• Thomas H Lee $400mm
• Warburg Pincus $400mm
• Joseph Neubauer Rollover $250mm

Guarantees

• GS Capital Partners
• CCMP Capital Investors
• JP Morgan Partners
• Thomas H Lee
• Warburg Pincus

Debt commitment

• Goldman Sachs Credit Partners
• JPMorgan
• Commitment letter

• $4.605mm senior secured facilities
• $1.700mm senior increasing rate bridge
• $770mm senior subordinated increasing rate bridge

Merger agreement provisions

• §4.7    Financing representation
• §4.8    Sponsor commitment representation
• §4.9    Equity rollover representation
• §5.14  Financing covenant
• §5.15  Debt tender covenant

No shop covenant

• Merger agreement §5.4
• Proxy statement summary

Break-up fee

• $120 mm
• Merger agreement §7.6
• Proxy statement summary

Vote lock-up

• Voting agreement (Neubauer)
• Proxy statement summary

Shareholder meeting held 12.20.06

• Subject to two votes
• Press release 12.20.06

Proxy statement

• Definitive 11.20.06

• Preliminary  9.07.06

Schedule 13e-3 filings

• Schedule 13e-3 9.07.06

• Exhibits

• Amendment #1 10.11.06

• Exhibits

• Amendment #2 11.06.06

• Exhibits

• Amendment #3 11.15.06

• Exhibits

• Amendment #4 11.20.06

• Exhibits

• Amendment #5 01.26.07

• Exhibits

Fairness opinions 

• Credit Suisse

• Opinion
• Proxy statement disclosure

Advisor board presentations
Filed as Schedule 13e-3 exhibits

• Credit Suisse 6.02.06
• Credit Suisse 6.25.06
• Credit Suisse 7.17.06
• Credit Suisse 8.07.06
• Negotiating presentation  7.05.06
  JP Morgan Securities - Goldman Sachs

Statements about fairness
Per going private rules

• Neubauer (CEO)
• MergerCo