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Mid Europa Partners announces final close of the largest Central European buyout fund at €1.5 billion

23 October 2007

Mid Europa Partners ("Mid Europa"), the largest private equity firm focused on buyouts in Central Europe, announced today the successful closing of its third fund, Mid Europa Fund III LP ("Fund III") with capital commitments of €1.5 billion.

In addition the Mid Europa team will invest €30 million through the General Partner. Mid Europa voluntarily capped Fund III at €1.5 billion of limited partner capital commitments. Fund III was launched in May 2007. MVision Private Equity Advisers acted as global placement agent. Kirkland & Ellis was legal counsel to Fund III.

Mid Europa secured commitments from over sixty leading investors, including AGF Private Equity, Alpinvest, ATP Private Equity Partners, AP2, Auda Private Equity, AXA Private Equity, Caisse des Depots et Consignations, CAM Private Equity, Citigroup, European Investment Bank, Feri, Government Investment Corporation of Singapore, Goldman Sachs Asset Management, HarbourVest, MetLife, OP Trust, Pantheon, TIAA, and Unigestion. Approximately 28% of commitments have come from pension plans, 24% from fund of funds, 19% from banks, insurance companies and other financial institutions, 16% from government-related entities and international financial institutions and 13% from endowments and foundations. European and North American investors account for 50% and 36% of total commitments respectively, with the balance of 14% coming from the Asia Pacific and Middle East regions.

Thierry Baudon, Mid Europa's Managing Partner said: "We are delighted with the quality and diversity of the investors who committed to our third Fund. With our second Fund already 80% invested in less than 24 months, this new investment vehicle will allow us to continue to take advantage of the rapidly expanding flow of quality buyout opportunities in Central Europe. The entire Mid Europa team is geared up to deliver another round of outstanding performance in its core market."

Mid Europa will continue to take control stakes in leading Central European companies operating in sectors with high barriers to entry. The Firm will typically invest between €50 million to €200 million in cash-flow generative companies with enterprise values of up to €1 billion. Mid Europa currently advises and manages funds with committed capital of approximately €2.6 billion (US$ 3.7 billion).

Mid Europa's team of 20 investment professionals has worked together since 1999 operating from offices in London, Budapest and Warsaw.

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