Media Center

November 20, 2008

KKR Announces Appointment of Sanjay Nayar as CEO of KKR India

Mumbai, Hong Kong, November 20, 2008 – Kohlberg Kravis Roberts & Co. (KKR) announced today that it has appointed Mr. Sanjay Nayar as CEO and Country Head of KKR in India. Mr. Nayar, a 23 year veteran of Citigroup, was most recently the CEO of Citi, India and South Asia, and a member of Citigroup's Asia Executive Operating Committee and Senior Leadership Committee. He will be based in Mumbai.

Henry R. Kravis and George R. Roberts, Founding Partners of KKR, said, "India is now a core part of our growing global private equity and investment platform. We believe India's compelling demographics, dynamic economy and culture of entrepreneurship will provide superior long-term investment opportunities. Sanjay is uniquely suited to build a broad based investment platform for KKR across a wide range of asset classes, including private equity, real estate, infrastructure and fixed income."

Joseph Y. Bae, the Managing Partner of KKR Asia, and Oliver Haarmann, a London based KKR Partner actively involved in the Firm's Indian efforts, added, "When we established our business in Asia, we made it our priority to identify and recruit the highest calibre professionals with well-established networks and strong business track records. As such, we are delighted to have appointed Sanjay to this key role. He brings to KKR unrivalled experience in India and will work not only to identify new investment opportunities, but also to assist our existing portfolio companies with their growth and investment plans for India.

Mr. Nayar commented, "I am delighted to be joining KKR's world-class business. KKR has a highly successful philosophy of long-term, value-added investing in partnership with leading local companies and entrepreneurs. Together we will work to build out the firm's expanding investment platform across India."

KKR will set up an office in Mumbai and will begin to recruit professionals to support this new initiative.

About Sanjay Nayar

In addition to his role as CEO of Citi, India and South Asia, Sanjay Nayar is the Deputy Chairman, Indian Bank's Association (IBA), Chairman of the Foreign Banks' Committee of the IBA, a member of the Board of USIBC, Co-Chairman of the Banking Committee for the Federation of Indian Chambers of Commerce & Industry (FICCI) and Co-Chairman of the Habitat for Humanity India Builds campaign. He has also participated in various financial sector reform committees set up by the Government and domestic regulators.

About KKR

Established in 1976, KKR is a leading global alternative asset manager. The core of the Firm's franchise is sponsoring and managing funds that make private equity investments in North America, Europe, and Asia. Throughout its history, KKR has brought a long-term investment approach to portfolio companies, focusing on working in partnership with management teams and investing for future competitiveness and growth. Additional funds that KKR sponsors include KKR Private Equity Investors, L.P. (NYSE Euronext Amsterdam: KPE), a permanent capital fund that invests in KKR-identified investments; and two credit strategy funds, KKR Financial (NYSE: KFN) and the KKR Strategic Capital Funds, which make investments in debt transactions. KKR has offices in New York, Menlo Park, San Francisco, Houston, London, Paris, Hong Kong, Beijing, Tokyo and Sydney. More information about KKR is available at: www.kkr.com

Contact:
Hong Kong
Gavin Anderson & Company T: +852 2523 7189
Richard Barton E: rbarton@gavinanderson.com.hk
Joshua Goldman-Brown E: jgoldman-brown@gavinanderson.com.hk

India
Pressman PR T: +91 22 2218 8880 Jennifer Fernandes