Waveland NCP Texas II Fund Invests in Five States Energy (May 2009)

DALLAS,TEXAS- Waveland NCP Texas II is pleased to announce that it has made a $1,500,000 investment in Five States Energy Company, LLC ("Five States"). Five States is a Dallas-based private oil and gas company specializing in high quality proved producing oil and gas properties. This is the second investment in Five States made by Waveland NCP fund.