KKR Announces Appointment of Sir Deryck Maughan as a Managing Director and Chairman of KKR Asia

Hong Kong, Tokyo, New York, October 18, 2005 – Kohlberg Kravis Roberts & Co. (KKR), a leading private equity firm, announced today it has appointed Sir Deryck Maughan as a Managing Director of KKR and Chairman of KKR Asia. Sir Deryck served most recently as Vice Chairman of Citigroup Inc and Chairman and Chief Executive Officer of Citigroup International.

In September 2005, KKR announced plans to expand its private equity business to Asia, led by Joseph Y. Bae, a Managing Director. Sir Deryck will work closely with the Firm’s Asia-based executives and KKR’s global industry teams, drawing on his broad international background and deep knowledge of financial services.

“I have known Deryck for more than twenty years and I am delighted he is joining KKR. His global insights and personal knowledge of Asia will be of great value to our firm,” said Henry R. Kravis, Founding Member of KKR.

Joseph Bae, Managing Director, added “I look forward to working closely with Deryck. His significant international experience and network of relationships will be a tremendous asset to KKR in building a leading private equity business in Asia.”

“I am very excited to be joining KKR and working with Henry and the other KKR executives to help build a new business in Asia,” said Sir Deryck. “I am a strong believer in KKR’s investment philosophy - pursuing a long-term investment approach and implementing operational improvements to create industry leading companies.”

Sir Deryck is a Director of GlaxoSmithKline and of Reuters Group. He is a Trustee of Lincoln Center, NYU Medical Center, Carnegie Hall and the Japan Society. He also serves on Advisory Councils at Harvard and Stanford Universities. He is a former Vice Chairman of the New York Stock Exchange and Chairman of the US-Japan Business Council.

Sir Deryck was Vice Chairman of Citigroup from 1998 to 2004. He was Chairman and CEO of Salomon Brothers from 1992 to 1997 and Chairman of Salomon Brothers Asia from 1986 to 1991. Prior to Salomon Brothers he worked at H. M. Treasury in London and at Goldman Sachs. He is a Harkness Fellow and a graduate of King’s College, University of London and the Graduate School of Business, Stanford University.

About KKR

KKR is one of the world's oldest and most experienced private equity firms specializing in management buyouts, with offices in New York, Menlo Park, California, and London. In September 2005, KKR announced plans to establish offices in Hong Kong and Tokyo, the Firm’s first offices in Asia.

Throughout its history, KKR has brought a long-term investment approach to its portfolio companies, focusing on working in partnership with management teams to invest for future competitiveness and growth. Over the past 29 years, KKR has invested in more than 130 transactions with a total value of over US$162 billion. For more information, please visit www.kkr.com.

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