North & Webster Withdraws Proxy Contest in Light of CSP Inc.'s Recent Statements it Will "Prudently Consider" and "Turn To"

    North & Webster Withdraws Proxy Contest in Light of CSP Inc.'s Recent
Statements it Will "Prudently Consider" and "Turn To" North & Webster's Recent
     $7.00 Acquisition Offer Following Conclusion of 2013 Annual Meeting

PR Newswire

NEW YORK, Feb. 12, 2013

NEW YORK, Feb. 12, 2013 /PRNewswire/ -- North & Webster, LLC ("North &
Webster") announced today that it has withdrawn its proxy contest with CSP
Inc. (NasdaqGM: CSPI) ("CSP" or the "Company") in light of the Company's
recent statements in both a recent release and earnings conference call that
following the 2013 Annual Meeting the Company will "prudently consider" and
"turn to" North & Webster's $7 per share offer to acquire the Company. North
& Webster's primary purpose for conducting this proxy contest was in
furtherance of urging the Board to immediately commence meaningful discussions
with North & Webster or announce a sale process, and in light of these recent
statements believes it is no longer necessary to run a contested slate of
directors. North & Webster remains as determined as ever to negotiate and
consummate a value-maximizing transaction and looks forward to engaging in
discussions with the Board around its $7 acquisition proposal upon the
conclusion of the 2013 Annual Meeting.

If you have any questions or require any assistance with your vote, please
contact Steve Balet at SCB Advising, Inc., who is assisting us, at
1-877-786-3323 or 1-646-290-5243.

Contact:
North & Webster
Sam Kidston, +1-617-395-8121

SOURCE North & Webster, LLC