Varun Kapur Joins TPG Ventures to Focus on Investments in India.

Former Intel Capital Executive will lead expansion stage and growth-oriented investments

FORT WORTH, Texas -- TPG Ventures (TPGV) announced today that Varun Kapur, one of the most prominent Asian private equity professionals and a former top executive at Intel Corporation's strategic investment unit, Intel Capital, will join the firm as Partner effective February 2007.

TPGV is the growth fund of TPG, a leading global alternative investment firm. Mr. Kapur will be based in Mumbai and will lead the firm's expansion stage, smaller buyouts and growth-oriented investments in India, with investments up to as much as US$75 million. Mr. Kapur will also have additional responsibility for growth and expansion investments in Japan, Australia and parts of Southeast Asia.

TPG Newbridge, TPG's Asian investment arm, already has a significant presence in India with Puneet Bhatia, Managing Director, leading TPG's efforts for buyouts and large strategic transactions in India. TPG Newbridge is part of the TPG global buyout and late stage private equity fund that invests across the globe in multiple sectors. In India, TPG has invested in Matrix Laboratories and in Shriram Finance. "We are pleased to welcome Varun Kapur to the TPG family. India represents a compelling opportunity to invest in expansion stage and growth companies, and Varun can help sharpen that focus," said Mr. Bhatia.

"We are delighted to have Varun working on our team," said Vivek Paul, TPG Partner and former Vice Chairman of Wipro, Ltd. "Varun has established a strong reputation with investments like NIIT, India Infoline, Sasken, Elpida (Japan), and Unwired (Australia). I worked with him most recently on our FPT investment in Vietnam, where Intel Capital was a co-investor. Varun's ability to understand value and help his portfolio companies achieve their goals sets him apart as an investor. Given TPG's strong interest in India, we are delighted to have someone of Varun's caliber join the TPG Ventures team. We plan to build the TPGV team under him so we can best address the vast and diverse investment opportunities in expansion stage and growth-oriented companies in India"

"TPG is one of the earliest private equity investors in Asia and is certainly among the most successful," Mr. Kapur said. "I view the invitation to join the firm to help oversee its substantial commitment to growth investments in the region as a unique career opportunity. I was particularly attracted by the significant value that TPG can bring as a sophisticated global investor across multiple asset classes and industries. This deep industry knowledge, a portfolio of companies that generate over $79 billion in revenues, and a combined investment pool of over $30 billion allows TPG to address every opportunity no matter the size, structure, location or industry and the ability to translate this into a compelling advantage for growth and mid market deals in India through TPG Ventures makes this opportunity particularly exciting."

Mr. Kapur, 37, was most recently one of two managing directors of Intel Capital in Asia, the strategic investment division of Intel Corporation (NasdaqGS:INTC) managing a team of 11 professionals. His primary responsibility was for Intel Capital's activities in India, Japan, South East Asia and Australia. Mr. Kapur joined Intel Capital in 2000 and built Intel Capital's Asian investment arm into a highly successful operation. Prior to Intel Capital, Mr. Kapur was director of direct investment for AIG Investment Corporation (Asia) Limited, one of the oldest and largest private equity institutions in Asia. During his four years at the firm, he was based in Mumbai and, later, Hong Kong, and oversaw investments in a broad range of sectors, including infrastructure, telecommunications, manufacturing, retail, financial services and technology. He started his career at Bank of America where he worked in the Institutional Banking Group in India. Mr. Kapur received his MBA from the Indian Institute of Management, Ahmedabad and his BE (EE) from the Indian Institute of Technology, Kanpur.

About TPG Ventures

Texas Pacific Group Ventures (TPGV) is the growth fund of TPG and manages more than $1 billion of capital. TPGV is focused on funding and growing technology, biotechnology and consumer companies utilizing several approaches including venture capital, growth equity, leveraged buyouts and private investments in public equities on a global basis. TPGV is part of TPG a leading global alternative investment firm founded in 1992 with approximately $30 billion under management. TPGV has offices in San Francisco, Menlo Park, Hong Kong, and Mumbai. Visit tpgventures.com.

About TPG Newbridge

TPG Newbridge, the Asian investment arm of Texas Pacific Group, is one of Asia's leading private equity investment firms with approximately $4.5 billion of capital under management. Founded in 1994, TPG Newbridge was one of the first private equity firms dedicated to Asian investments. The firm has 40 professionals throughout the region with offices in Hong Kong, Melbourne, Mumbai, San Francisco, Shanghai, Singapore and Tokyo. TPG Newbridge has made significant investments in such companies as Advanced Interconnect Technologies, Hanaro Telecom, Japan Telecom, Korea First Bank, Lenovo, Matrix Laboratories, Myer Department Stores, Parkway Holdings, Raffles Hotel Holdings, Shenzhen Development Bank, Shriram Transport and Taishin Financial. Visit texaspacificgroup.com.

About TPG

Texas Pacific Group is a private investment partnership that was founded in 1992 and currently has more than $30 billion of assets under management. With offices in San Francisco, London, Hong Kong, Fort Worth and other locations globally, TPG has extensive experience with global public and private investments executed through leveraged buyouts, recapitalizations, spinouts, joint ventures and restructurings. Texas Pacific Group seeks to invest in world-class franchises across a range of industries, including technology (Freescale Semiconductor, Lenovo, MEMC, ON Semiconductor, Seagate, SunGard), financial services (Ariel Reinsurance, Fidelity National Information Services, LPL Financial Services), industrials (Altivity Packaging, British Vita, Grohe, Kraton Polymers, Texas Genco), retail/consumer (Debenhams, Ducati, J. Crew, Neiman Marcus, Petco), airlines (America West, Continental), media and communications (Findexa, MGM, TIM Hellas), and healthcare (IASIS Healthcare, Oxford Health Plans, Quintiles Transnational), among others. Visit www.texaspacificgroup.com.