Bill Owens to Join AEA Holdings.

NEW YORK & HONG KONG -- AEA Holdings, the holding company for AEA Investors and Aetos Capital, today announced that Bill Owens has joined the firm as Chairman and CEO of its new operations in China, India & Southeast Asia. In this capacity, Mr. Owens will be responsible for overseeing investment opportunities across alternative asset classes in the region. Mr. Owens will be based in Hong Kong, where the firm will establish offices this year.

Mr. Owens was Chief Executive Officer of Nortel until November 2005. He currently serves on the public boards of Daimler Chrysler A.G., Polycom, Inc., and Embarq, as well as the non-public boards of the Carnegie Corporation of New York, the Brookings Institution, and the Fred Hutchinson Cancer Research Center. Mr. Owens is the former Vice Chairman of the U.S. Joint Chiefs of Staff, the second highest ranking officer in the U.S.

"Bill Owens is a leader of tremendous accomplishment and integrity, and we are delighted that he has agreed to join our firm," said James M. Allwin, President of Aetos Capital. "His knowledge and experience, as well as his vision and energy, make him uniquely qualified to carry out our strategy to focus on investment opportunities in the region."

In a joint statement, Vincent A. Mai and John L. Garcia, Chairman and CEO respectively of AEA Investors, said, "Bill brings much to our enterprise, including strong relationships throughout the Asia region, strategic insight and business acumen, and a keen eye for opportunities that will benefit investors. He is ideally suited to lead our operations in the region, and we welcome him to the firm."

"I am excited to be joining one of the world's premier investment organizations, and to be working in a diverse and economically dynamic region," Mr. Owens said. "It is a privilege to be associated in a leadership capacity with a company that has proven time and again that it can provide excellent returns for its investors and make important contributions to growth and development."

Bill Owens Biography

Bill Owens had a long and distinguished military career, and served as Vice Chairman of the U.S. Joint Chiefs of Staff, where he had responsibility for reorganizing and restructuring the armed forces following the end of the Cold War. Earlier in his career, he served as the commander of the U.S. Sixth Fleet, and served as senior military assistant to two Secretaries of Defense; Frank Carlucci and Dick Cheney, the current Vice President of the United States. He is the author of numerous articles on defense matters and policy and of two books, "High Seas" and "Lifting the Fog of War." Mr. Owens is widely regarded as a leading authority on the application of new technology to warfare, and is recognized for integrating commercial high technology into military applications.

Mr. Owens was elected to the Nortel Network board of directors in February 2002 and served on the board until November 2005. Earlier in his business career, he was CEO and Chairman of Teledesic LLC and President, COO and Vice Chairman of Science Applications International Corporation (SAIC), the largest employee-owned technology company in the U.S. He has served on over 20 public boards of directors around the world.

Mr. Owens graduated from the U.S. Naval Academy with a B.S. in Mathematics. He holds a bachelor's and master's degree in politics, philosophy, and economics from Oxford University, England, and a master's degree in management from George Washington University.

About AEA Holdings

AEA Holdings was formed by the 2005 combination of Aetos Capital and AEA Investors. The combined firm has over $9 billion of assets under management, 245 employees and offices in New York, London, Tokyo, Osaka, Menlo Park, and Stamford.

Aetos Capital is an independent investment management firm offering institutional and private investors a set of compelling investment opportunities in alternative asset classes. Currently, it has two investment products: an opportunistic real estate platform and an absolute return funds of hedge funds platform.

AEA is a pioneer in the private equity industry. Originally named American European Associates, the Rockefeller, Mellon and Harriman family interests together with S.G. Warburg & Co. founded AEA in 1968. With over 35 years of investing experience, AEA has established a track record of achieving superior returns as a leading private equity partner to middle market companies.