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RICHARD DARMAN JOINS CARLYLE GROUP

 WASHINGTON, Feb. 23 /PRNewswire/ -- The Carlyle Group today announced that former OMB Director Richard Darman has joined the firm as a managing director.
 Darman served from January 1989 until Jan. 20, 1993, as director of the Office of Management and Budget and a member of President Bush's cabinet. Immediately prior to joining OMB, Darman was a managing director of Shearson Lehman Hutton, Inc. (1987-1989). He served previously in government under four presidents, in six cabinet departments and the White House.
 With his broad background in both public policy and finance, Darman will concentrate on Carlyle investment opportunities in sectors where government policy has a significant impact on economic performance, and where Carlyle believes there will be attractive investment opportunities in the coming years. Those sectors include: healthcare and biotechnology; energy and environment; transportation; and insurance.
 William E. Conway, Jr., a managing director of Carlyle, said: "We are extremely pleased that Dick Darman will be joining our firm. We are convinced that his intellect and creativity, his substantial negotiating experience, and his wide understanding of public policy will be invaluable additions to Carlyle."
 The Carlyle Group is a private merchant banking firm based in Washington. Carlyle controls companies with more than 40,000 employees, operating in 33 different countries. The capital value of these companies is approximately $2 billion, and their 1992 revenues were slightly above $4.2 billion.
 Richard Darman
 Richard Darman is joining the Carlyle Group as managing director. Prior to joining Carlyle, Darman served from 1989 to 1993 as director of the U.S. Office of Management and Budget and as a member of President Bush's Cabinet.
 In addition to his service in the Bush Cabinet, Darman held senior policy positions under four presidents in six cabinet departments and White House. These positions included: assistant to the president of the United States (1981-85); deputy secretary of the U.S. Treasury (1985-87); and assistant U.S. secretary of commerce (1976-77).
 In the private sector, Darman was managing director of Shearson Lehman Brothers, Inc. (1987-89); principal and director of ICF, Inc. (1974-75, 1977-80); a director of American Capital and Research Corp. (1988) and of several privately held firms.
 Darman, 49, is an honors graduate of Harvard College (1964) and Harvard Business School (1967), and the recipient of an honorary Doctor of Sciences degree in business administration. He is a former fellow of the Woodrow Wilson International Center for Scholars, former member of the Harvard faculty, former trustee of the Brookings Institution, and former member of the Trilateral Commission.
 Darman is married to Kathleen Emmet, Ph.D., a writer. They live with their two sons in Virginia.
 -0- 2/23/93
 /CONTACT: Bill Conway of The Carlyle Group, 202-347-2626/


CO: The Carlyle Group ST: District of Columbia IN: FIN SU: PER

IH -- DC022 -- 9501 02/23/93 14:25 EST
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Date:Feb 23, 1993
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