Summary of ENTERPRISE ACQUISITION CORP.

ITEM 5.02 -- DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS

On January 10, 2008, Enterprise Acquisition Corp. (the "Company") announced that it has appointed Ezra Shashoua as its Chief Financial Officer, effective as of January 10, 2008.

Mr. Shashoua, 52, served as Executive Vice President and Chief Financial Officer of Cruzan International, Inc., a Florida-based publicly-held spirits company which owned the Cruzan Rum brand and various manufacturing plants, from 2003 to 2007. Prior to his employment at Cruzan, he served as Executive Vice President and Chief Financial Officer of NationsRent, Inc., a publicly-held equipment rental company, from 2001 to 2003.

The Company has not entered into an employment agreement with Mr. Shashoua at this time in connection with his appointment as Chief Financial Officer. However, in connection with his appointment, Mr. Shashoua entered into a Stock Purchase Agreement, dated January 10, 2008 (the "Stock Purchase Agreement"). Pursuant to the Stock Purchase Agreement, Mr. Shashoua purchased 25,000 shares of the Company's common stock (the "Insider Shares") from Staton Bell Blank Check LLC in a private placement transaction. In addition, Mr. Shashoua entered into an Insider Letter Agreement, dated January 10, 2008 (the "Insider Letter"), to the representatives of the underwriters of the Company's initial public offering. Pursuant to the Insider Letter, attached hereto as Exhibit 10.1, Mr. Shashoua has agreed to place the Insider Shares in escrow until the Company completes a business combination with an operating company, and to serve as Chief Financial Officer of the Company until the consummation of such business combination or the Company's liquidation.

There are no family relationships between Mr. Shashoua and any of the Company's other directors or executive officers.