Wednesday , May , 24 , 2006 C.Y. Ellis

Tapscott resigns as Bobcats president and CEO

Charlotte, NC (Sports Network) – Ed Tapscott stepped down as president and CEO
of the Charlotte Bobcats to pursue other interests on Wednesday, ending his
brief stint with the team’s parent company Bobcats Sports & Entertainment.

Tapscott was the first employee hired when Charlotte received the expansion
Bobcats, and he oversaw the process of building a competitive NBA franchise
from the ground up.

“I would like to thank Eddie for helping build a basketball team that will
grow into a playoff contender,” said team owner Bob Johnson. “On behalf of the
board of directors, we appreciate what he has done for the team and we want to
thank Eddie for his contributions.”

President of the RLJ Companies Van Sinclair will tackle the role as acting
president and chief operating officer immediately.