First Close for Europe's Largest Private Equity Fund.

NEW YORK -- Permira has announced the first closing of a new fund, Permira IV, at just over EUR 10 billion. Further commitments from a number of structured products are expected to take the fund to its agreed cap of approximately EUR 11 billion ($14 billion).

The closing makes Permira IV the largest fund ever raised by a European private equity firm and one of the largest globally.

The closing confirms Permira's position as one of a very small number of genuinely international private equity firms, with its six offices in Europe and one in each of New York and Tokyo. The fund will focus on large and complex buy-outs in Europe, the US and Japan, with a particular emphasis on international transactions.

Damon Buffini, Managing Partner of Permira, said: "This fund puts Permira in a leading position in the market. As with previous funds, Permira IV will help to build stronger and more focused companies that can thrive in the ever more competitive international business environment."

The fundraising was completed in approximately three months from the time the Information Memorandum was issued in March to the date the fund was closed to new applications in June.

The fund was significantly oversubscribed and allocations are still being finalised.

Notes to Editors

About Permira

Permira is a leading international private equity specialist. As an independent business, Permira is owned and controlled by its partners. The firm's team of over 95 professionals, based in Frankfurt, London, Madrid, Milan, New York, Paris, Stockholm and Tokyo, advises the Permira Funds with a total committed capital of more than Euro 20 billion. Since 1985, the Permira Funds have completed over 280 private equity transactions. During the last year, the Permira Funds have committed to six transactions with a combined enterprise value of around Euro 25 billion. www.permira.com

Note:

This press release does not constitute an offer of securities for sale in the United States. Interests in Permira IV (or in any entity being formed to invest in Permira IV) may not be offered or sold in the United States absent registration or an exemption from registration. No public offering of such securities will be made in the United States.