FOR IMMEDIATE RELEASE

Contact: Nancy Johnson
Quaker Capital Management Corp.
Phone: 412-281-1948
Fax: 412-281-0323

Quaker Capital Management Corporation announces that
Mr. Constantine W. Mamakos joins the company as an equity analyst.

Pittsburgh, PA (May 14th, 2007) - Quaker Capital Management Corp. is pleased to announce that Mr. Constantine W. Mamakos has joined the Pittsburgh-based equity investment management firm as an equity analyst.

Constantine graduated cum laude with a B.S. in business administration from Carnegie Mellon University in 2002 and just completed his M.B.A. from the Wharton School, University of Pennsylvania, in May 2007. From July 2002 to February 2004, he worked as an investment associate for Putnam Investment Management in Boston. He has also interned with the Institutional Securities division of Morgan Stanley in New York. While attending graduate business school, he interned over two summers with the investment team of Quaker Capital Management. Constantine is a native of Pittsburgh and enjoys reading, sports and consulting with his family's corporate gifts business.

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