Press Release December 2008

THE DELAWARE

Counsel a R o u P LLP

Attorneys At Law

Suite 2.00

300 Martin Luther King Blvd Wilmington DE 19801

301 576 9600 TEL

301 576 96o8 FAX www.dclawarccounsclgroup.com

Delaware Counsel Group Lawyer Chairs International Private Equity Program; Chief Justice of Delaware Supreme Court Presents

Ellisa Opstbaum Habbart, a founding partner with the law finn of The Delaware Counsel Group LLP, chaired a program on fmancing issues for leveraged buyouts presented at the 2008 International Leveraged Buyouts Symposium for private equity lawyers. The program featured international lawyers, Robert L. Friedman, Senior Managing Director and Chief Legal Officer of The Blackstone Group and the Chief Justice of the Delaware Supreme Court, The Honorable Myron T. Steele. The panelists discussed judicial interpretations of material adverse change clauses, other conditionality issues and practical considerations when financing leveraged buyouts. The Symposium was presented by the Private Equity Subcommittee and the M&A Committee of the International Bar Association (IBA). Ms. Habbart is an Officer of the Corporate and M&A Law Committee of the IBA.

The Symposium was held in London with over 150 lawyers from around the world in attendance. For more information about the Symposium or the IBA, please visit http:/ /www.ibanet.org.

Ms. Habbart has provided transactional counseling on national and international matters to attorneys (both in house and in private practice) and senior level management (including CEOs, CFOs, general partners, boards of directors, managers and trustees) on Delaware law issues for almost 20 years. She can be reached at (302) 576-9600 Ext. 12 or ehabbart@delawarecounselgroup.com.

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*As per the law society of England and Wales. The number of CPO points/hours available mav varv for other bar

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A conference presented by the Private Equity Subcommittee ~ .. of the IBA Corporate and M&A Law Committee and supported by the IBA European Forum

International leveraged buyouts: a one-day symposium for leading private equity lawyers 17 November 2008 Mandarin Oriental Hotel London. England

Topics include:

• Managing the challenges of private equity in 2008 and beyond

• Financing issues for ieveraged buyouts

• Opportunities and challenges for private equity bidders in the current deal market

• Corporate governance for private equity

Who should attend?

Law firm partners and associates, in-house counsel, academics, regulators, trade assooation representatives, private equity investors and any delegates interested in hearing leading private equity lawyers address current legal and policy issues in the private equity industry.

Programme Conference Chair Stuart L Mills Leighton Mills PLLC, North Carolina; Chair, Private Equity Subcommittee of the IBA Corporate and M&A Law Committee

Planning Committee Chair Kirk A Radke Kirkland & Ellis, New York

Franci J Blassberg Debevoise & Plimpton LLP, New York Charles 'Casey' Cogut Simpson Thacher & Bartlett LLP, New York Marco Compagnoni Wei/ Gotshal & Manges LLP, London Thomas Forschbach Latham & Watkins, Paris Robert L Friedman Senior Managing Director and Chief Legal Officer, The Blackstone Group, New York Charlie Geffen Ashurst, London Ellisa Opstbaum Habbart The Delaware Counsel Group LLP, Wilmington, Delaware; Vice-Chair, Private Equity Subcommittee of the IBA Corporate and M&A Law Committee Christian Hoedl Urfa Menendez, Madrid; Secretary, Private Equity Subcommittee of the IBA Corporate and M&A Law Committee Matthew Layton Clifford Chance LLP, London R Bradford Malt Ropes & Gray, Boston, Massachusetts Charles Martin Macfarlanes, London; Vice-Chair, Mergers & Acquisitions Subcommittee of the IBA Securities Law Committee Andrew J Nussbaum Wachtel/ Lipton Rosen & Katz, New York Maximilian Schiess! Hengeler Mueller, Dusseldorf Mark B Tresnowski Managing Director and General Counsel, Madison Dearborn Partners LLC, Chicago, Illinois

Continuing Professional Development/Continuing Legal Education

For delegates from countries where CPD/CLE is mandatory,

the International Bar Association will be pleased to provide

a Conference Certificate of Attendance which, subject to the exact CPD/CLE requirements, may be used to obtain

the equivalent accreditation in your jurisdiction.

This conference has been accredited for CPD/CLE by the

Law Society of England and Wales. Delegates should ask staff at the registration desk for information as to how to

obtain the hours.

Luncheon and refreshment break sponsors

Monday 17 November

0800 - 1700 Registration

0800 - 0900 Welcome coffee

0900 - 0915 Introduction from the Conference and Planning Committee Chairs Stuart L Mills and Kirk A Radke

0915-1045 Plenary session Managing the challenges of private equity in 2008 and beyond Fmanc1al sponsors have recently faced a senes of regulatory and 1mage 1ssues, such as demands for Increased transparency, attentton from labour umons, mcreased tax and regulatory scrutmy..and proposed leg1slat1on, all of wh1ch has been wtdely reported m the med1a Th1s plenary session w1ll s1ze up these tssues, examine the nsks to clients, and h1ghhght the proper role of counsel in addressmg the issues

Chair Charles 'Casey' Cogut

Panelltsts Steven A Cohen Wachtel/ Lipton Rosen & Katz, New York Charlie Geffen Lord Clive Hollick Member, Kohlberg KraVls Roberts & Co, London Eileen Nugent Skadden Arps Slate Meagher & Flom LLP, New York Maximilian Schiess! Javier Villasante Cuatrecasas, Madrtd John Waldron Managmg Director; Head of Financ1al Sponsors Busmess m EMEA and Global Co-Head of Soveretgn Wealth Fund Coverage, Goldman Sachs, London Lucien Wong Allen & Gledhill LLP, Smgapore

1 045 - 11 00 Coffee/tea break

1100-1230 Breakout session 1 Financing issues for leveraged buyouts Leadmg experts m the f1eld w1fl address and compare JUdicial mterpretat1ons of material adverse change clauses, other condtt1onaltty 1ssues and practical cons1derat1ons when fmanctng leveraged buyouts m 2008.

Co-Chairs A Stephen Gillespie Ktrkland & Eilts, London Ellisa Opstbaum Habbart

Panell1sts Jeffrey A Blount Fulbnght & Jaworski, Hong Kong; VIce-Chair, IBA Asta Paofic Forum Robert L Friedman Myron T Steele Chief Justice, Delaware Supreme Court, Wilmington, Delaware John Williamson-Noble Gilbert & Tobin, Sydne_r- NS~· Senior Vice-Cha1r, IBA Corporate and M&A Law Committee

Cocktail reception supporters

DEBEVOI S E & PLIMPTON LLP

KIRKlAND &.. ELLIS LLP r -,

Breakout session 2 Case study The legal deal teams from a notable recent rnternattonal leveraged buyout \'~.'til rev1ew the crrttcal legal and practtcal obstacles to completton of the LBO, and how those obstacles were overcome

Chatr Charles Martin

Th1s session 1s dependent upon there betng a suitable transaction and upon the cooperation of the parties to 1t be1ng the subject of thrs case study

Breakout session J Opportunities and challenges for private equity bidders in the current deal market A d1stmgU1shed group of private equ1ty lawyers w11! address the state of the M&A market 1n November 2008, mcludmg both opportunities and threats

Co-Cha"s Thomas Forschbach Andrew J Nussbaum

Pane/lists Elisha Raman Bet-Mansour Debevotse & Plimpton LLF: Pans Gregory W Conway Simpson Thacher & Bartlett, London Christian Hoedl Matthew Layton R Bradford Malt Hans-Jorg Ziegenhain Hengeler Mueller; Mumch

Breakout session 4 Corporate governance for private equity Th1s sess1on wtll address the best ways to control, exert governance nghts, or otherw1se mfluence portfolio compames m order to avo1d confhctmg legal dut1es and defeated expectatrons rn the rnternatronal context

Co-Chairs Franci J Blassberg Marco Compagnoni

Pane/lists Filippo Cardini Ch1ef Operatmg Officer and General Counsel, Towerbrook Capital Partners, London Felix R Ehrat Bar & Karrer AG, Zunch, Co-Chair, IBA Corporate and M&A Law Comm;ttee Alison Hampton General Counsel, Hgcaptta/, London Stuart L Mills Mark Sperotto Ashurst Mtlan

1230 - 1400 lunch

1400 - 1530 Breakout sessions repeated

Breakout session 1 Financing issues for leveraged buyouts Lead1ng experts tn the field w1ll address and compare JUdiCial mterpretat1ons of matenal adverse change clauses, other cond1t1onalrty 1ssues and practical constderat1ons when fmancmg leveraged buyouts m2008

Breakout session 2 Case study The legal deal teams from a notable recent mternattonal leveraged buyout Will revtew the cnttcal legal and pract1cal obstacles to completron of the LBO, and how those obstacles were overcome

Breakout session J Opportunities and challenges for private equity bidders in the current deal market A d1stmgurshed group of priVate equity lawyers Will address the state of the M&A market m November 2008, mclud1ng both opportun1tres and threats

Breakout session 4 Corporate governance for private equity Th1s sesston Will address the best ways to control, exert governance nghts, or otherwrse Influence portfolio compames m order to avord confhctrng legal dut1es and defeated expectations rn the rnternat1onal context

1530 - 1600 Coffee/tea break

1600 - 1715 General Counsel Forum The general counsels of several promrnent financial sponsors w1ll share their own perspectrves on the legal and non-legal challenges faong pnvate equ1ty and m particular leveraged buyouts Quest1ons from the aud1ence w11l be welcomed

Moderator Kirk A Radke

Panelltsts David Dench Drrector, Group Legal Serv~ces, 31, London Robert L Friedman Tino Preissler General Counsel, Allianz Capttal Partners, Mumch tan Sellars Partner; Permrra, London Mark B Tresnowski

1715 - 1900 Cocktail reception Mandann Orrental Hotel

\ Exhibitors at this conference include

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J!a I PRACTICAL LAW COMPA:J \X'li CJ'SW HO LE Gi\L