KKR Financial Holdings LLC

KKR Financial Corp. to Present at the Third Annual Lehman Brothers 2006 Small Cap Conference

SAN FRANCISCO, Nov 10, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- KKR Financial Corp. (NYSE: KFN) announced today that Saturnino S. Fanlo, Chief Executive Officer, and David A. Netjes, Chief Operating Officer, will make a presentation at the Lehman Brothers 2006 Small Cap Conference in Dana Point, California. The presentation is scheduled to begin at 8:00 a.m. PST on Wednesday, November 15, 2006 and will be followed by a question and answer session.

The Company's presentation will be broadcast live via audio-webcast and may be accessed through http://www.lehman.com/conferences/2006SmallCap/ . The Company's presentation materials will also be available in the Investor Relations section of the Company's website at http://www.kkrfinancial.com/ir and will be posted within 24 hours of the live presentation and available through February 15, 2007.

KKR Financial Corp. is a specialty finance company that invests in multiple asset classes and uses leverage to generate competitive leveraged risk-adjusted returns. KKR Financial Corp. currently makes investments in the following asset classes: (i) residential mortgage loans and mortgage-backed securities; (ii) corporate loans and debt securities; (iii) commercial real estate loans and debt securities; (iv) asset-backed securities; and (v) marketable and non-marketable equity securities. KKR Financial Corp. also makes opportunistic investments in other asset classes from time to time. KKR Financial Corp. was organized as a Maryland corporation on July 7, 2004, and commenced operations on August 12, 2004. KKR Financial Corp. is a real estate investment trust and KKR Financial Advisors LLC manages KKR Financial Corp. pursuant to a management agreement. KKR Financial Corp. and KKR Financial Advisors LLC are affiliates of Kohlberg Kravis Roberts & Co. L.P.

For more information about KKR Financial Corp. or a copy of this press release visit its website at www.kkrfinancial.com .

    Investors:
    Laurie Poggi
    KKR Financial
    (415) 315-3718

    Media:
    Roanne Kulakoff/Joseph Kuo/Molly Morse
    Kekst and Company
    (212) 521-4837/4863/4826

SOURCE KKR Financial Corp.

investors, Laurie Poggi, of KKR Financial, +1-415-315-3718; or media, Roanne
Kulakoff, +1-212-521-4837, or Joseph Kuo, +1-212-521-4863, or Molly Morse,
+1-212-521-4826, all of Kekst and Company, for KKR Financial Corp.

http://www.kkrfinancial.com/

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