Kohlberg Kravis Roberts & Co. LTD. ("KKR") today announced it has entered into exclusive negotiations with France Telecom for the potential acquisition of France Telecom's 54% stake in PagesJaunes for a consideration of €22.0 per share.

KKR is advised by BNP Paribas, Goldman Sachs and Lehman Brothers.

About PagesJaunes

PagesJaunes is the leading publisher of directories in France and the leading online directory portal in Europe. It offers printed and online directories services for both private and business users. The Group also has operations in Spain, Belgium, Luxembourg, Morocco and Lebanon. In 2005, PagesJaunes had a portfolio of over 700,000 advertisers. PagesJaunes is listed Eurolist by Euronext Paris (code ISIN: FR0010096354).

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, London, Paris, Hong Kong and Tokyo. Over the past thirty years, KKR has invested in more than 141 transactions with a total value of US$195 billion.

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