-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, KQGWTkIV+B5H4XMNkge7HiNEQEJnMg/vJ/hmOVfcFP5RkgRbDZKZPYaucUIFwJqQ SpmsiS/kPmPvRPbd3KCivw== 0001193125-04-021393.txt : 20040212 0001193125-04-021393.hdr.sgml : 20040212 20040212163110 ACCESSION NUMBER: 0001193125-04-021393 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20040212 GROUP MEMBERS: B&T ENTERPRISES, L.L.C. GROUP MEMBERS: C/S VENTURE INVESTORS L.P. GROUP MEMBERS: CARLYLE U.S. VENTURE PARTNERS, L.P. GROUP MEMBERS: CARLYLE VENTURE COINVESTMENT, L.L.C GROUP MEMBERS: CARLYLE VENTURE PARTNERS L.P. GROUP MEMBERS: TC GROUP, L.LC. GROUP MEMBERS: TCG VENTURES, L.L.C. GROUP MEMBERS: TCG VENTURES, LTD. GROUP MEMBERS: THE CARLYLE GROUP, L.P. GROUP MEMBERS: THE CARLYLE PARTNERS LEVERAGED CAPITAL FUND I, L.P. GROUP MEMBERS: TWC VIRGINIA, INC. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: VARSITYBOOKS COM INC CENTRAL INDEX KEY: 0001069502 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 541876848 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-60967 FILM NUMBER: 04592072 BUSINESS ADDRESS: STREET 1: 1606 20TH ST NW STREET 2: SUITE 1 CITY: WASHINGTON STATE: DC ZIP: 20009 MAIL ADDRESS: STREET 1: 2020 K ST 6TH FL CITY: WASHINGTON STATE: DC ZIP: 20006 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: TCG HOLDINGS LLC CENTRAL INDEX KEY: 0001022596 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: C/O CARLYLE GROUP STREET 2: 1001 PENNSYLVANIA AVE., NW, STE. 220 S CITY: WASHINGTON STATE: DC ZIP: 20004-2505 BUSINESS PHONE: 2023472626 SC 13G/A 1 dsc13ga.htm AMENDMENT #1 TO SCHEDULE Amendment #1 to Schedule
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13G/A

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(AMENDMENT NO. 1)

 

Varsity Group, Inc.


(Name of Issuer)

 

Common Stock, Par Value $0.0001 Per Share


(Title of Class of Securities)

 

922300 10 8


(CUSIP Number)

 

September 10, 2003


(Date of Event Which Requires Filing of this Statement)

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 

¨ Rule 13d-1(b)

 

¨ Rule 13d-1(c)

 

x Rule 13d-1(d)


CUSIP No. 922300 10 8                                         13G

1.      Name of Reporting Person:
         TCG Holdings, L.L.C
         IRS Identification Number of Above Person:
         N/A

2.      Check the Appropriate Box if a Member of a Group
         (a) ¨
         (b) x

3.      SEC Use Only

4.      Citizenship or Place of Organization:
         Delaware

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON

WITH:
  

5.      Sole Voting Power

         0


  

6.      Shared Voting Power

         2,048,520


  

7.      Sole Dispositive Power

         0


  

8.      Shared Dispositive Power

         2,048,520


9.      Aggregate Amount Beneficially Owned by Each Reporting Person:
         2,048,520

10.    Check Box if the Aggregate Amount in Row 9 Excludes Certain Shares

¨


11.    Percent of Class Represented by Amount in Row 9
         12.5%

12.    Type of Reporting Person
         OO (Limited Liability Company)

 

2


CUSIP No. 922300 10 8                                         13G

1.      Name of Reporting Person:
         TC Group, L.L.C.
         IRS Identification Number of Above Person:
         N/A

2.      Check the Appropriate Box if a Member of a Group
         (a) ¨
         (b) x

3.      SEC Use Only

4.      Citizenship or Place of Organization:
         Delaware

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON

WITH:
  

5.      Sole Voting Power

         0


  

6.      Shared Voting Power

         2,048,520


  

7.      Sole Dispositive Power

         0


  

8.      Shared Dispositive Power

         2,048,520


9.      Aggregate Amount Beneficially Owned by Each Reporting Person:
         2,048,520

10.    Check Box if the Aggregate Amount in Row 9 Excludes Certain Shares

¨


11.    Percent of Class Represented by Amount in Row 9
         12.5%

12.    Type of Reporting Person
         OO (Limited Liability Company)

 

3


CUSIP No. 922300 10 8                                         13G

1.      Name of Reporting Person:
         TWC Virginia, Inc.
         IRS Identification Number of Above Person:
         N/A

2.      Check the Appropriate Box if a Member of a Group
         (a) ¨
         (b) x

3.      SEC Use Only

4.      Citizenship or Place of Organization:
         Virginia

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON

WITH:
  

5.      Sole Voting Power

         0


  

6.      Shared Voting Power

         992,000


  

7.      Sole Dispositive Power

         0


  

8.      Shared Dispositive Power

         992,000


9.      Aggregate Amount Beneficially Owned by Each Reporting Person:
         992,000

10.    Check Box if the Aggregate Amount in Row 9 Excludes Certain Shares

¨


11.    Percent of Class Represented by Amount in Row 9
         6.0%

12.    Type of Reporting Person
         CO

 

4


CUSIP No. 922300 10 8                                         13G

1.      Name of Reporting Person:
         The Carlyle Group, L.P.
         IRS Identification Number of Above Person:
         N/A

2.      Check the Appropriate Box if a Member of a Group
         (a) ¨
         (b) x

3.      SEC Use Only

4.      Citizenship or Place of Organization:
         Delaware

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON

WITH:
  

5.      Sole Voting Power

         0


  

6.      Shared Voting Power

         992,000


  

7.      Sole Dispositive Power

         0


  

8.      Shared Dispositive Power

         992,000


9.      Aggregate Amount Beneficially Owned by Each Reporting Person:
         992,000

10.    Check Box if the Aggregate Amount in Row 9 Excludes Certain Shares

¨


11.    Percent of Class Represented by Amount in Row 9
         6.0%

12.    Type of Reporting Person
         PN

 

5


CUSIP No. 922300 10 8                                         13G

1.      Name of Reporting Person:
         The Carlyle Partners Leveraged Capital Fund I, L.P.
         IRS Identification Number of Above Person:
         N/A

2.      Check the Appropriate Box if a Member of a Group
         (a) ¨
         (b) x

3.      SEC Use Only

4.      Citizenship or Place of Organization:
         Delaware

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON

WITH:
  

5.      Sole Voting Power

         0


  

6.      Shared Voting Power

         992,000


  

7.      Sole Dispositive Power

         0


  

8.      Shared Dispositive Power

         992,000


9.      Aggregate Amount Beneficially Owned by Each Reporting Person:
         992,000

10.    Check Box if the Aggregate Amount in Row 9 Excludes Certain Shares

¨


11.    Percent of Class Represented by Amount in Row 9
         6.0%

12.    Type of Reporting Person
         PN

 

6


CUSIP No. 922300 10 8                                         13G


1.      Name of Reporting Person:

         B&T Enterprises, L.L.C.

         IRS Identification Number of Above Person:

         N/A


2.      Check the Appropriate Box if a Member of a Group

         (a) ¨

         (b) x


3.      SEC Use Only


4.      Citizenship or Place of Organization:

         Delaware


NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON

WITH:

  

5.      Sole Voting Power

         0


  

6.      Shared Voting Power

         992,000


  

7.      Sole Dispositive Power

         0


  

8.      Shared Dispositive Power

         992,000


9.      Aggregate Amount Beneficially Owned by Each Reporting Person:

         992,000


10.    Check Box if the Aggregate Amount in Row 9 Excludes Certain Shares

¨


11.    Percent of Class Represented by Amount in Row 9

         6.0%


12.    Type of Reporting Person

         OO (Limited Liability Company)


 

7


CUSIP No. 922300 10 8                                         13G


1.      Name of Reporting Person:

         TCG Ventures, L.L.C.

         IRS Identification Number of Above Person:

         52-2033506


2.      Check the Appropriate Box if a Member of a Group

         (a) ¨

         (b) x


3.      SEC Use Only


4.      Citizenship or Place of Organization:

         Delaware


NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON

WITH:

  

5.      Sole Voting Power

         0


  

6.      Shared Voting Power

         1,056,520


  

7.      Sole Dispositive Power

         0


  

8.      Shared Dispositive Power

         1,056,520


9.      Aggregate Amount Beneficially Owned by Each Reporting Person:

         1,056,520


10.    Check Box if the Aggregate Amount in Row 9 Excludes Certain Shares

¨


11.    Percent of Class Represented by Amount in Row 9

         6.5%


12.    Type of Reporting Person

         OO (Limited Liability Company)


 

8


CUSIP No. 922300 10 8                                         13G


1.      Name of Reporting Person:

         TCG Ventures, Ltd.

         IRS Identification Number of Above Person:

         98-0182779


2.      Check the Appropriate Box if a Member of a Group

         (a) ¨

         (b) x


3.      SEC Use Only


4.      Citizenship or Place of Organization:

         Cayman Islands


NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON

WITH:

  

5.      Sole Voting Power

         0


  

6.      Shared Voting Power

         853,027


  

7.      Sole Dispositive Power

         0


  

8.      Shared Dispositive Power

         853,027


9.      Aggregate Amount Beneficially Owned by Each Reporting Person:

         853,027


10.    Check Box if the Aggregate Amount in Row 9 Excludes Certain Shares

¨


11.    Percent of Class Represented by Amount in Row 9

         5.2%


12.    Type of Reporting Person

         CO (Corporation)


 

9


CUSIP No. 922300 10 8                                         13G


1.      Name of Reporting Person:

         Carlyle U.S. Venture Partners, L.P.

         IRS Identification Number of Above Person:

         52-2038006


2.      Check the Appropriate Box if a Member of a Group

         (a) ¨

         (b) x


3.      SEC Use Only


4.      Citizenship or Place of Organization:

         Delaware


NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON

WITH:

  

5.      Sole Voting Power

         0


  

6.      Shared Voting Power

         93,593


  

7.      Sole Dispositive Power

         0


  

8.      Shared Dispositive Power

         93,593


9.      Aggregate Amount Beneficially Owned by Each Reporting Person:

         93,593


10.    Check Box if the Aggregate Amount in Row 9 Excludes Certain Shares

¨


11.    Percent of Class Represented by Amount in Row 9

         0.6%


12.    Type of Reporting Person

         PN


 

10


CUSIP No. 922300 10 8                                         13G


1.      Name of Reporting Person:

         Carlyle Venture Coinvestment, L.L.C.

         IRS Identification Number of Above Person:

         52-2033493


2.      Check the Appropriate Box if a Member of a Group

         (a) ¨

         (b) x


3.      SEC Use Only


4.      Citizenship or Place of Organization:

         Delaware


NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON

WITH:

  

5.      Sole Voting Power

         0


  

6.      Shared Voting Power

         109,900


  

7.      Sole Dispositive Power

         0


  

8.      Shared Dispositive Power

         109,900


9.      Aggregate Amount Beneficially Owned by Each Reporting Person:

         109,900


10.    Check Box if the Aggregate Amount in Row 9 Excludes Certain Shares

¨


11.    Percent of Class Represented by Amount in Row 9

         0.7%


12.    Type of Reporting Person

         OO (Limited Liability Company)


 

11


CUSIP No. 922300 10 8                                         13G


1.      Name of Reporting Person:

         Carlyle Venture Partners, L.P.

         IRS Identification Number of Above Person:

         98-0181877


2.      Check the Appropriate Box if a Member of a Group

         (a) ¨

         (b) x


3.      SEC Use Only


4.      Citizenship or Place of Organization:

         Cayman Islands


NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON

WITH:

  

5.      Sole Voting Power

         0


  

6.      Shared Voting Power

         705,705


  

7.      Sole Dispositive Power

         0


  

8.      Shared Dispositive Power

         705,705


9.      Aggregate Amount Beneficially Owned by Each Reporting Person:

         705,705


10.    Check Box if the Aggregate Amount in Row 9 Excludes Certain Shares

¨


11.    Percent of Class Represented by Amount in Row 9

         4.3%


12.    Type of Reporting Person

         PN


 

12


CUSIP No. 922300 10 8                                         13G


1.      Name of Reporting Person:

         C/S Venture Investors, L.P.

         IRS Identification Number of Above Person:

         98-0181878


2.      Check the Appropriate Box if a Member of a Group

         (a) ¨

         (b) x


3.      SEC Use Only


4.      Citizenship or Place of Organization:

         Cayman Islands


NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON

WITH:

  

5.      Sole Voting Power

         0


  

6.      Shared Voting Power

         147,322


  

7.      Sole Dispositive Power

         0


  

8.      Shared Dispositive Power

         147,322


9.      Aggregate Amount Beneficially Owned by Each Reporting Person:

         147,322


10.    Check Box if the Aggregate Amount in Row 9 Excludes Certain Shares

¨


11.    Percent of Class Represented by Amount in Row 9

         0.9%


12.    Type of Reporting Person

         PN


 

13


SCHEDULE 13G

 

Item 1(a).

  

Name of Issuer:

    

Varsity Group, Inc.

Item 1(b).

  

Address of Issuer’s Principal Executive Offices:

    

1850 M Street, NW, Suite 1150

    

Washington D.C. 20036

Item 2(a).

  

Name of Person Filing:

    

TCG Holdings, L.L.C.

    

TC Group, L.L.C.

    

TWC Virginia, Inc.

    

The Carlyle Group, L.P.

    

The Carlyle Partners Leveraged Capital Fund I, L.P.

    

B&T Enterprises, L.L.C.

    

TCG Ventures, L.L.C.

    

TCG Ventures, Ltd.

    

Carlyle U.S. Venture Partners, L.P.

    

Carlyle Venture Coinvestment, L.L.C.

    

Carlyle Venture Partners, L.P.

    

C/S Venture Investors, L.P.

Item 2(b).

  

Address of Principal Business Office:

    

c/o The Carlyle Group

    

1001 Pennsylvania Ave, NW

    

Suite 220 South

    

Washington, D.C. 20004-2505

Item 2(c).

  

Citizenship:

    

TCG Holdings, L.L.C. – Delaware

    

TC Group, L.L.C. – Delaware

    

TWC Virginia, Inc. – Virginia

    

The Carlyle Group, L.P. – Delaware

    

The Carlyle Partners Leveraged Capital Fund I, L.P. – Delaware

    

B&T Enterprises, L.L.C. – Delaware

    

TCG Ventures, L.L.C. – Delaware

    

TCG Ventures, Ltd. – Cayman Islands

    

Carlyle U.S. Venture Partners, L.P. – Delaware

    

Carlyle Venture Coinvestment, L.L.C. – Delaware

    

Carlyle Venture Partners, L.P. – Cayman Islands

    

C/S Venture Investors, L.P. – Cayman Islands

Item 2(d).

  

Title of Class of Securities

    

Common Stock, Par Value $0.0001 Per Share

Item 2(e).

  

CUSIP Number

 

14


Item 2(e).

  

CUSIP Number

    

922300 10 8

Item 3.   

Not applicable.

 

[Remainder of this page has been left intentionally blank.]

 

15


Item 4. Ownership

 

Reporting Person


   Amount
beneficially
owned:


   Percent
of class:


    Sole
power to
vote or
direct
the vote:


   Shared
power to
vote or to
direct the
vote:


  

Sole power
to dispose
or to direct
the

disposition
of:


   Shared
power to
dispose or to
direct the
disposition
of:


TCG Holdings, L.L.C.

   2,048,520    12.5 %   0    2,048,520    0    2,048,520

TC Group, L.L.C.

   2,048,520    12.5 %   0    2,048,520    0    2,048,520

TWC Virginia, Inc.

   992,000    6.0 %   0    992,000    0    992,000

The Carlyle Group, L.P.

   992,000    6.0 %   0    992,000    0    992,000

The Carlyle Partners Leveraged Capital Fund I, L.P.

   992,000    6.0 %   0    992,000    0    992,000

B&T Enterprises, L.L.C.

   992,000    6.0 %   0    992,000    0    992,000

TCG Ventures, L.L.C.

   1,056,520    6.5 %   0    1,056,520    0    1,056,520

TCG Ventures, Ltd.

   853,027    5.2 %   0    853,027    0    853,027

Carlyle U.S. Venture Partners, L.P.

   93,593    0.6 %   0    93,593    0    93,593

Carlyle Venture Coinvestment, L.L.C.

   109,900    0.7 %   0    109,900    0    109,900

Carlyle Venture Partners, L.P.

   705,705    4.3 %   0    705,705    0    705,705

C/S Venture Investors, L.P.

   147,322    0.9 %   0    147,322    0    147,322

 

The record holders of common stock, par value $0.0001, of Varsity Group, Inc. (the “Common Stock”) are as follows: (1) B&T Enterprises, L.L.C., as the record holder of 992,000 shares, (2) Carlyle Venture Partners, L.P., as the record holder of 705,705 shares, (3) C/S Venture Investors, L.P., as the record holder of 147,322 shares, (4) Carlyle Venture Coinvestment, L.L.C., as the record holder of 109,900 shares, and (5) Carlyle U.S. Venture Partners, L.P., as the record holder of 93,593 shares.

 

TCG Ventures, Ltd. is (i) the sole general partner of Carlyle Venture Partners, L.P. and (ii) the general partner of C/S Venture Investors, L.P. TCG Ventures, L.L.C. (i) owns 100% of the outstanding capital stock of TCG Ventures Ltd., (ii) is the sole general partner of Carlyle U.S. Venture Partners, L.P., and (iii) is the sole managing member of Carlyle Venture Coinvestment, L.L.C. TC Group, L.L.C. is the sole member of TCG Ventures, L.L.C. TCG Holdings, L.L.C. is the sole managing member of TC Group, L.L.C. Accordingly, (i) TCG Ventures, Ltd., TCG Ventures, L.L.C., TC Group, L.L.C. and TCG Holdings, L.L.C., each may be deemed to be a beneficial owner of the shares of Common Stock owned of record by each of Carlyle Venture Partners, L.P. and C/S Venture Investors, L.P., and (ii) TCG Ventures, L.L.C., TC Group, L.L.C. and TCG Holdings, L.L.C., each may be deemed to be beneficial owners of the shares of Common Stock owned of record by Carlyle U.S. Venture Partners, L.P. and Carlyle Venture Coinvestment, L.L.C.

 

16


The Carlyle Partners Leveraged Capital Fund I, L.P. is the managing member of B&T Enterprises, L.L.C. The Carlyle Group, L.P. is the general partner of The Carlyle Partners Leveraged Capital Fund I, L.P., and TWC Virginia, Inc. is the general partner of The Carlyle Group, L.P. Accordingly, The Carlyle Partners Leveraged Capital Fund I, L.P., The Carlyle Group, L.P. and TWC Virginia, Inc. each may be deemed to be a beneficial owner of the shares of Common Stock owned of record by B&T Enterprises, L.L.C.

 

Pursuant to a contractual agreement, The Carlyle Partners Leveraged Capital Fund I, L.P. delegated to TC Group, L.L.C. day to day management of B&T Enterprises, L.L.C., which includes sole control over the voting and disposition of the shares held by B&T Enterprises, L.L.C. Accordingly, TC Group, L.L.C and TCG Holdings, L.L.C. each may be deemed to be a beneficial owner of the shares of Common Stock owned of record by B&T Enterprises, L.L.C. by contractual arrangement. The Carlyle Partners Leveraged Capital Fund I, L.P. may revoke such delegation at any time in its sole discretion.

 

William E. Conway, Jr., Daniel A. D’Aniello and David M. Rubenstein, as the managing directors of TCG Holdings, L.L.C. and the sole shareholders of TWC Virginia, Inc., may be deemed to share beneficial ownership of the shares shown as beneficially owned by each entity. Such persons disclaim such beneficial ownership.

 

Item 5.

  

Ownership of Five Percent or Less of a Class

     If this statement has been filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [    ].

Item 6:

  

Ownership of More than Five Percent on Behalf of Another Person:

    

Not applicable.

Item 7:

   Identification and Classification of the Subsidiary Which Acquired the Security Being Reported by the Parent Holding Company
    

Not applicable.

Item 8:

  

Identification and Classification of Members of the Group.

    

Not applicable.

Item 9:

  

Notice of Dissolution of Group

    

Not applicable.

Item 10:

  

Certification

    

Not applicable.

 

17


Signature Page 1 of 5

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Date:             February 12, 2004

 

TCG HOLDINGS, L.L.C.

By:

 

/s/    Daniel A. D’Aniello


Name:

 

Daniel A. D’Aniello

Title:

 

Managing Director

TC GROUP, L.L.C.

By:

 

TCG Holdings, L.L.C., its Managing Member

By:

 

/s/    Daniel A. D’Aniello


Name:

 

Daniel A. D’Aniello

Title:

 

Managing Director

 

18


Signature Page 2 of 5

 

TCG VENTURES, L.L.C.

By:

 

TC Group L.L.C., its Sole Member

By:

 

TCG Holdings, L.L.C., its Managing Member

By:

 

/s/    Daniel A. D’Aniello


Name:

 

Daniel A. D’Aniello

Title:

 

Managing Director

CARLYLE U.S. VENTURE PARTNERS, L.P.

By:

 

TCG Ventures, L.L.C., its General Partner

By:

 

TC Group L.L.C., its Sole Member

By:

 

TCG Holdings, L.L.C., its Managing Member

By:

 

/s/    Daniel A. D’Aniello


Name:

 

Daniel A. D’Aniello

Title:

 

Managing Director

CARLYLE VENTURE COINVESTMENT, L.L.C.

By:

 

TCG Ventures, L.L.C., its Managing Member

By:

 

TC Group L.L.C., its Sole Member

By:

 

TCG Holdings, L.L.C., its Managing Member

By:

 

/s/    Daniel A. D’Aniello


Name:

 

Daniel A. D’Aniello

Title:

 

Managing Director

 

19


Signature Page 3 of 5

 

TCG VENTURES, LTD.

By:

 

TCG Ventures, L.L.C., its Sole Shareholder

By:

 

TC Group L.L.C., its Sole Member

By:

 

TCG Holdings, L.L.C., its Managing Member

By:

 

/s/    Daniel A. D’Aniello


Name:

 

Daniel A. D’Aniello

Title:

 

Managing Director

CARLYLE VENTURE PARTNERS, L.P.

By:

 

TCG Ventures, Ltd., its General Partner

By:

 

TCG Ventures, L.L.C., its Sole Shareholder

By:

 

TC Group L.L.C., its Sole Member

By:

 

TCG Holdings, L.L.C., its Managing Member

By:

 

/s/    Daniel A. D’Aniello


Name:

 

Daniel A. D’Aniello

Title:

 

Managing Director

C/S VENTURE INVESTORS, L.P.

By:

 

TCG Ventures, Ltd., its Managing General Partner

By:

 

TCG Ventures, L.L.C., its Sole Shareholder

By:

 

TC Group L.L.C., its Sole Member

By:

 

TCG Holdings, L.L.C., its Managing Member

By:

 

/s/    Daniel A. D’Aniello


Name:

 

Daniel A. D’Aniello

Title:

 

Managing Director

 

20


Signature Page 4 of 5

 

B&T ENTERPRISES, L.L.C.

By:

 

TC Group L.L.C., its Manager

By:

 

TCG Holdings, L.L.C., its Managing Member

By:

 

/s/    Daniel A. D’Aniello


Name:

 

Daniel A. D’Aniello

Title:

 

Managing Director

 

21


Signature Page 5 of 5

 

CARLYLE PARTNERS LEVERAGED CAPITAL FUND I, L.P.

By:

 

The Carlyle Group, its General Partner

By:

 

TWC Virginia, Inc., its General Partner

By:

 

/s/    Daniel A. D’Aniello


Name:

 

Daniel A. D’Aniello

Title:

 

Managing Director

THE CARLYLE GROUP, L.P.

By:

 

TWC Virginia, Inc., its General Partner

By:

 

/s/    Daniel A. D’Aniello


Name:

 

Daniel A. D’Aniello

Title:

 

Managing Director

TWC VIRGINIA, INC., its General Partner

By:

 

/s/    Daniel A. D’Aniello


Name:

 

Daniel A. D’Aniello

Title:

 

Managing Director

 

22


LIST OF EXHIBITS

 

Exhibit No.

 

Description


A   Joint Filing Agreement

 

23


EXHIBIT A: Joint Filing Agreement

 

In accordance with Rule 13d-1(k) promulgated under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree to the joint filing with all other Reporting Persons (as such term is defined in the Schedule 13G referred to below) on behalf of each of them of a statement on Schedule 13G (including amendments thereto) with respect to the Common Stock, par value $0.0001 per share, of Varsity Group, Inc., a Delaware company, and that this Agreement may be included as an Exhibit to such joint filing. This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument.

 

[Remainder of this page has been left intentionally blank.]

 

24


Signature Page 1 of 5

 

IN WITNESS WHEREOF, the undersigned hereby execute this Agreement as of the 12th day of February, 2004.

 

TCG HOLDINGS, L.L.C.

By:

 

/s/    Daniel A. D’Aniello


Name:

 

Daniel A. D’Aniello

Title:

 

Managing Director

TC GROUP, L.L.C.

By:

 

TCG Holdings, L.L.C., its Managing Member

By:

 

/s/    Daniel A. D’Aniello


Name:

 

Daniel A. D’Aniello

Title:

 

Managing Director

 

25


Signature Page 2 of 5

 

TCG VENTURES, L.L.C.

By:

 

TC Group L.L.C., its Sole Member

By:

 

TCG Holdings, L.L.C., its Managing Member

By:

 

/s/    Daniel A. D’Aniello


Name:

 

Daniel A. D’Aniello

Title:

 

Managing Director

CARLYLE U.S. VENTURE PARTNERS, L.P.

By:

 

TCG Ventures, L.L.C., its General Partner

By:

 

TC Group L.L.C., its Sole Member

By:

 

TCG Holdings, L.L.C., its Managing Member

By:

 

/s/    Daniel A. D’Aniello


Name:

 

Daniel A. D’Aniello

Title:

 

Managing Director

CARLYLE VENTURE COINVESTMENT, L.L.C.

By:

 

TCG Ventures, L.L.C., its Managing Member

By:

 

TC Group L.L.C., its Sole Member

By:

 

TCG Holdings, L.L.C., its Managing Member

By:

 

/s/    Daniel A. D’Aniello


Name:

 

Daniel A. D’Aniello

Title:

 

Managing Director

 

26


Signature Page 3 of 5

 

TCG VENTURES, LTD.

By:

 

TCG Ventures, L.L.C., its Sole Shareholder

By:

 

TC Group L.L.C., its Sole Member

By:

 

TCG Holdings, L.L.C., its Managing Member

By:

 

/s/    Daniel A. D’Aniello


Name:

 

Daniel A. D’Aniello

Title:

 

Managing Director

CARLYLE VENTURE PARTNERS, L.P.

By:

 

TCG Ventures, Ltd., its General Partner

By:

 

TCG Ventures, L.L.C., its Sole Shareholder

By:

 

TC Group L.L.C., its Sole Member

By:

 

TCG Holdings, L.L.C., its Managing Member

By:

 

/s/    Daniel A. D’Aniello


Name:

 

Daniel A. D’Aniello

Title:

 

Managing Director

C/S VENTURE INVESTORS, L.P.

By:

 

TCG Ventures, Ltd., its Managing General Partner

By:

 

TCG Ventures, L.L.C., its Sole Shareholder

By:

 

TC Group L.L.C., its Sole Member

By:

 

TCG Holdings, L.L.C., its Managing Member

By:

 

/s/    Daniel A. D’Aniello


Name:

 

Daniel A. D’Aniello

Title:

 

Managing Director

 

27


Signature Page 4 of 5

 

B&T ENTERPRISES, L.L.C.

By:

 

TC Group L.L.C., its Manager

By:

 

TCG Holdings, L.L.C., its Managing Member

By:

 

/s/    Daniel A. D’Aniello


Name:

 

Daniel A. D’Aniello

Title:

 

Managing Director

 

28


Signature Page 5 of 5

 

CARLYLE PARTNERS LEVERAGED CAPITAL FUND I, L.P.

By:

 

The Carlyle Group, its General Partner

By:

 

TWC Virginia, Inc., its General Partner

By:

 

/s/    Daniel A. D’Aniello


Name:

 

Daniel A. D’Aniello

Title:

 

Managing Director

THE CARLYLE GROUP, L.P.

By:

 

TWC Virginia, Inc., its General Partner

By:

 

/s/    Daniel A. D’Aniello


Name:

 

Daniel A. D’Aniello

Title:

 

Managing Director

TWC VIRGINIA, INC., its General Partner

By:

 

/s/    Daniel A. D’Aniello


Name:

 

Daniel A. D’Aniello

Title:

 

Managing Director

 

29

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