EDISON, NJ – September 15, 2010 --Cambridge Financial Services, LLC today announced that it served as Financial Advisor to Doris Panos Designs, Ltd. (“Company”), a designer and merchant of fine jewelry. On April 17, 2009, the Company filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Eastern District of New York after its lender terminated the company's loan facility. On August 30, 2010, the Company announced that the U.S. Bankruptcy Court for the Eastern District of New York had confirmed its Plan of Reorganization. Nicholas B. Jalowski, a Certified Turnaround Professional, served as lead consultant to the Company while in bankruptcy. Cambridge Financial Services was instrumental in the restructuring of the business, negotiating with stakeholders to support the plan and in the ultimate success of the proceedings.

Doris Panos Designs, Ltd. was founded in 1993 and is headquartered in Melville, New York. The Company’s creations have been worn by America’s royalty and celebrities and Doris Panos Designs is known for outstanding quality and design and the brand is synonymous with luxury. The designs have been photographed and displayed on the covers of fashion magazines and are sold in Nieman Marcus Stores and other fine jewelry boutiques.

The past business model focused exclusively on an expensive couture line. The business restructuring plan centered on diversifying its merchandise to appeal to recession-struck consumers who are seeking high quality jewelry at lower to moderate price points. The Company opened two new divisions, one for its Precious Silver collection, a line of sterling silver jewelry that features a patent-pending gold layering process and retails at $2,500 and below. Secondly, the Company signed an exclusive contract with HSN to create a fashion line that debuted with the multichannel electronic retailer in July and August.

Nicholas B. Jalowski is the Founder and Managing Director of Cambridge Financial Services. In addition to his role in overseeing the management of the firm, he is a practitioner specializing in strategic consulting to firms in need of guidance in turnaround management, corporate revitalization, financing negotiations, loan restructuring and/or workout management. He is a Certified Turnaround Professional (“CTP”) and Certified Management Consultant (“CMC”). Jalowski is currently the President of the Board of Directors of the New Jersey Turnaround Management Association, and is also on the Board of Directors of the Make-A-Wish Foundation of New Jersey. Formerly a corporate banker with Bank of New York in New York City and Fidelity Union Bank in New Jersey, he is a graduate of the McIntyre School of Commerce at the University of Virginia and resides in New Jersey.