Asia Society Organizes Asian Private Equity Conference in New York City on October 25, 2001.

Business/Financial/Government Editors

NEW YORK--(BUSINESS WIRE)--Oct. 5, 2001

The Asia Society, in association with QuantCast LLC, invite internationally focused investors, executives, analysts, financial and service professionals and other interested individuals to hear from leading experts on the growing importance of private equity in Asia. For a complete schedule and registration form, please visit: http://www.asiasociety.org/policy_business/privateequity.html

This event entitled "The Rise of Private Equity in Asia" will be held on October 25, 2001 at the Union Club (101 East 69th Street at Park Avenue) in New York City. Registration will begin at 10:00 AM and it will conclude at 2:00 PM following a luncheon session. The cost to attend this event will be $100 for members of the Asia Society, $125 for non-members and $60 for accredited academics and members of NGO's.

Note: The Union Club requires jackets and ties for men and remarks at this event are not for attribution.

The lead corporate sponsor for this event is Asian Direct Capital Management, a State Street Global Alliance Company. Additional corporate support will be provided by Olympus Capital Holdings Asia. The event is held in collaboration with Dalton Investments LLC, Global Equity Markets Association, KWR International, Inc., Institutional Investor's Alternative Investment News and the Asia Private Equity Review. Featured speakers include:

-- Raymond Hood, Managing Director, Asian Direct Capital Management

-- Jonathan Colby, Managing Director, The Carlyle Group

-- Howard Chao, Chair, Asia-Pacific Practice, O'Melveny & Myers

-- W. Bowman Cutter, Managing Director, Warburg Pincus

-- Chih Chien Wang, Managing Director, H&Q Beijing

-- Manish Kejriwal, Principal, McKinsey & Company

-- Daniel Mintz, Managing Director, Olympus Capital Holdings Asia

-- Wilbur L. Ross, Jr., Chairman and Chief Executive Officer, WL Ross & Co.

"Over the past fifteen years private equity investors in Asia have shifted their attention from passive minority investments in private, family dominated companies to larger-scale transactions that seek to take controlling positions in major Asian corporations", noted Raymond Hood, Managing Director of Asian Direct Capital Management. "About $70 billion has already been committed, giving rise to an exciting new asset class."

"Private equity is emerging, not only as a source of capital, but also as a significant agent for change in the Asian corporate sector," commented Daniel Mintz, Managing Director and co-founder of Olympus Capital Holdings Asia. "The key challenge is to adapt proven investment models to meet the needs of local markets and participants, for example by entering into joint ventures with Asian companies."

"The economic slowdown we are seeing throughout the world only accentuates the need for private equity investment in Asia", stated Wilbur L. Ross, Jr., Chairman and Chief Executive Officer, WL Ross & Co. "Substantial returns will be generated by investors who can identify and act upon the many opportunities that are emerging in financial services, technology, retailing, light and heavy industry and a range of other sectors."