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FOR IMMEDIATE RELEASE: December 14, 2006 Diamond Castle Holdings Closes $1.825 Billion Fund - Among
Largest Ever First-Time Private Equity Fund Raises. NEW YORK, December 14, 2006 - Diamond Castle Holdings, a private equity investment firm, today announced the final close of its first private equity fund, Diamond Castle Partners IV, L.P., at $1.825 billion. Diamond Castle Partners IV will invest principally in leveraged buyouts and recapitalizations, primarily in North America, with a specific focus on companies with enterprise values of $200 million to $1.5 billion. Target sectors are energy and power, financial services, media and communications, and healthcare. In addition, a portion of the fund will be targeted for opportunistic investments in other industry sectors. Diamond Castle was founded in 2004 by Lawrence M. Schloss, formerly Global Head of CSFB Private Equity and Chairman of DLJ's highly successful Merchant Banking Group, and Ari J. Benacerraf, Michael W. Ranger, Andrew H. Rush and David M. Wittels, four former Managing Directors of DLJ Merchant Banking Partners III, LP, CSFB's flagship $5.4 billion buyout fund. The fund's investment strategy utilizes operating partners, which provides Diamond Castle with a unique combination of industry-specific strategic, operating and financial expertise. Diamond Castle has two operating partners, Gene Lockhart, in financial services, and Scott Schneider, in media and communications. Mr. Lockhart has held numerous senior management positions, including CEO of Midland Bank, CEO of MasterCard, Vice Chairman of Bank of America and President of Consumer Operations at AT&T. Mr. Schneider is the former CFO of Century Communications and Centennial Communications and the former President of Citizens Communications. These professionals, in turn, are augmented by a 24-person Executive Board, largely comprised of senior executives of former portfolio companies with which Diamond Castle professionals were previously associated. Unlike typical buyout funds, Diamond Castle Partners IV has already invested or committed $670 million, or approximately 40% of the total capital raised, in six companies: Catamount Energy Corp, Harbor Point Limited, Buckeye Cash Checking, NES Rentals Holdings, PRC, LLC and Bonten Media Group. The high level of demand for Diamond Castle Partners IV reflects Diamond Castle's professionals' reputation and previous track record. Investors included public and private pension funds, insurance companies, endowments and high net worth individuals from around the world. Over their careers, Diamond Castle principals have collectively participated in investments in over 150 businesses with an enterprise value of more than $100 billion. "We are extremely gratified by the investor support we have received, with over 75% of the capital coming from prior investor relationships," said Lawrence Schloss, Chairman and Chief Executive Officer of Diamond Castle. "At Diamond Castle, we are continuing our 20-year investment philosophy of developing long-term relationships with superior managers and building great companies with them. Our six initial investments are proof of our ability to source and acquire great businesses led by outstanding management teams, which will ultimately create superior returns for our investors," Mr. Schloss added. Notes to Editors About Diamond Castle Holdings, LLC Diamond Castle Holdings, LLC is a private equity investment firm founded in 2004 by Larry Schloss, the former Global Head of CSFB Private Equity and Chairman of DLJ Merchant Banking Partners, and four former managing directors of DLJ Merchant Banking. Diamond Castle has 22 employees located in New York and focuses on investments in the power, financial services, media and communications, healthcare, and industrial sectors. For more information on Diamond Castle Holdings, please visit our website at http://www.dchold.com. Contacts Diamond Castle
Holdings Holli Rafkin-Sax/Financial
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