Compass Diversified Holdings (NYSE: CODI)

Press Release

Press Release

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05/17/06
Compass Diversified Trust Completes Initial Public Offering
Compass Diversified Trust Completes Initial Public Offering

Westport, CT – May 17, 2006 – Compass Diversified Trust (Nasdaq NMS: "CODI") (the "Trust") announced today the completion its initial public offering of 13,500,000 shares of the Trust at an offering price of $15.00 per share.

Total net proceeds from the offering, after deducting the underwriters' discounts, commissions and financial advisory fee, were approximately $188.3 million. Net proceeds from the offering will be used to purchase controlling interests in, and provide debt financing to, four initial businesses. Compass Diversified Trust's initial businesses include a human resources outsourcing firm, a recreational products company, an electronic components manufacturer and a global chemical hardcoatings manufacturer.

Ferris, Baker Watts, Inc. acted as sole book-running manager and BB&T Capital Markets, J.J.B. Hilliard, W.L. Lyons, Inc., Oppenheimer & Co., Sanders Morris Harris, Ladenburg Thalmann & Co. Inc., and Maxim Group LLC acted as co-managers of the offering.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in this offering, nor shall there be any sale of these securities in any state in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. The offering may be made only by means of a prospectus, copies of which may be obtained from Ferris, Baker Watts, Inc., 100 Light Street, Baltimore, Maryland 21202, (800) 436-2000.

About Compass Diversified Trust

Compass Diversified Trust works with the management teams of North American based small to middle market businesses to acquire controlling interests in those entities. The Company seeks to acquire businesses that have stable and growing cash flows, maintain strong niche market presences and have positive macroeconomic outlooks.

Compass Diversified Trust
Jim Bottiglieri
Chief Financial Officer
203.221.1703
jim@compassequity.com

Investor Relations Contact:
KCSA Worldwide
Jeffrey Goldberger / Michael Cimini
212.896.1249 / 212.896.1233
jgoldberger@kcsa.com / mcimini@kcsa.com