Brian Mulroney, Former Prime Minister of Canada, Joins Hicks, Muse, Tate & Furst as Senior Counselor.

Business/Political Writers

DALLAS--(BUSINESS WIRE)--March 9, 2000

Hicks, Muse, Tate & Furst Incorporated, a leading global private investment firm, today announced that The Right Honourable Brian Mulroney, the former Prime Minister of Canada, has agreed to join the firm as Senior Counselor, effective immediately. In this position, Mr. Mulroney will take an active role in a wide range of Hicks Muse activities, including the identification of new investment opportunities and assisting portfolio companies with respect to various strategic initiatives. He will also serve as Chairman of Hicks Muse's Latin America Strategy Board, of which he is already a member, and the firm's European Strategy Board, which is currently being assembled.

Mr. Mulroney was elected Canada's eighteenth Prime Minister in 1984, leading the Progressive Conservative Party to the largest victory in Canadian history. He was reelected with a majority government again in 1988 and had served a total of almost nine years when he resigned in 1993. Mr. Mulroney's government introduced a wide range of bold initiatives, including many that continue to be the basis for Canada's strong economic performance.

Mr. Mulroney will devote a significant amount of his time to Hicks Muse. His primary office will be in Montreal at the law firm of Ogilvy Renault, of which he is Senior Partner, and he will also have an office with Hicks Muse in New York.

Thomas O. Hicks, Chairman and Chief Executive Officer of Hicks Muse, said: "Brian Mulroney is a world-class statesman, businessman and individual, and we are honored that he has agreed to take a formal role in the ongoing development of Hicks Muse as one of the world's leading investment firms. During the time we have known Brian, my Partners and I have valued his wise counsel and respected his tremendous understanding of the global business environment, as well as the forces that affect it. As the process of Hicks Muse's globalization continues, we expect that Brian's involvement will help us -- and our business partners -- to better understand trends in world markets and economies that will impact our business."

Mr. Mulroney said: "I have deep respect for Tom Hicks, his Partners and the entire Hicks Muse organization. Over the past several years, the firm has rapidly evolved into one of the leading global private equity investors, with a unique ability to identify strong investment opportunities and to execute in those areas. Most importantly the firm is an informed investor that only enters new markets and investment initiatives after giving careful and thorough consideration. I have tremendous confidence in that approach and look forward to participating actively in its future implementation."

In addition to his roles at Hicks Muse and Ogilvy Renault, Mr. Mulroney serves on the boards of directors of Archer Daniels Midland Company, Cendant Corporation, TrizecHahn Corporation, Barrick Gold Corporation, Quebecor Inc. and Sun Media. He also serves as non-executive Chairman of Forbes Global and as a member of the International Advisory Board of Chase Manhattan Bank.

Since its formation in 1989, Hicks, Muse, Tate & Furst Incorporated has completed or currently has pending more than 330 transactions with a total capital value of approximately $43 billion. Headquartered in Dallas, the firm also has offices in New York, London and Buenos Aires.