KKR Announces Appointment of Richard L. Clemmer as Senior Advisor

KKR Announces Appointment of Richard L. Clemmer as Senior Advisor Back to Press Releases

KKR Announces Appointment of Richard L. Clemmer as Senior Advisor

June 13, 2007

Menlo Park, CA, June 13, 2007 – Kohlberg Kravis Roberts & Co. (KKR) announced today that it has appointed Richard L. Clemmer, an experienced technology industry executive, as a Senior Advisor to the firm.

George R. Roberts, Co-Founding Member of KKR, said, “The technology industry is one of the largest sectors of the global economy, and as it has matured in recent years we are seeing increased opportunities for private equity. Rick’s extensive experience in the high-tech field and his particular expertise in turnaround leadership will contribute greatly to the development and management of operations at our portfolio companies around the world.”

Most recently, Mr. Clemmer was chief executive officer of Agere Systems, the Lucent spin-out and a global leader in semiconductors. At Agere, he implemented a strategic and operational turnaround that ultimately resulted in an $8 billion merger of equals with LSI, yielding nearly a 300% appreciation in shareholder value during his tenure. Mr. Clemmer took over at Agere following a period of investing and supporting technology startups. Previously, Mr. Clemmer served as chief financial officer of Quantum Corporation, where he led the company’s liquidity turnaround and oversaw the implementation of the first Silicon Valley tracking stock and the $2 billion merger with Maxtor Corporation, which created the largest company in the hard-disk drive storage industry.

Prior to Quantum, Mr. Clemmer spent 23 years at Texas Instruments where, as chief financial officer of the Semiconductor Group, he spearheaded the company’s DRAM wafer fab international joint ventures during the transformation of the semiconductor business.

Mr. Clemmer holds a bachelor’s degree in business administration from Texas Tech University and a master’s degree in business administration from Southern Methodist University. He serves on the board of I2 Technologies and uNav Microelectronics.

About KKR
Kohlberg Kravis Roberts & Co. (KKR) is one of the world’s oldest and most experienced private equity firms specializing in management buyouts. Founded in 1976, it has offices in New York, Menlo Park, London, Paris, Hong Kong and Tokyo.

Throughout its history, KKR has brought a long-term investment approach to its portfolio companies, focusing on working in partnership with management teams and investing for future competitiveness and growth. Since its founding, KKR has completed more than 150 transactions with an aggregate value of over US$279 billion. (www.kkr.com)

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Diana Postemsky

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This presentation contains certain forward-looking statements pertaining to KKR & Co. Inc. and its consolidated subsidiaries (collectively “KKR”), including certain investment funds, vehicles and accounts that are managed by KKR (each, a “fund”). Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. The forward-looking statements are based on KKR’s beliefs, assumptions and expectations of its future performance, taking into account all information currently available to it. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to KKR or are within its control. If a change occurs, KKR’s business, financial condition, liquidity and results of operations, including but not limited to, assets under management, fee paying assets under management, after-tax distributable earnings, capital invested, syndicated capital, uncalled commitments, cash and short-term investments, fee related earnings, fee and yield segment EBITDA, core interest expense and book value, may vary materially from those expressed in the forward-looking statements. The following factors, among others, could cause actual results to vary from the forward-looking statements: whether KKR realizes all or any of the anticipated benefits from converting to a corporation and the timing of realizing such benefits; whether there are increased or unforeseen costs associated with the conversion, including any adverse change in tax law; the volatility of the capital markets; the general volatility of the capital markets; failure to realize the benefits of or changes in KKR’s business strategies including the ability to realize the anticipated synergies from acquisitions or strategic partnerships or other transactions; availability, terms and deployment of capital; availability of qualified personnel and expense of recruiting and retaining such personnel; changes in the asset management industry, interest rates or the general economy; underperformance of KKR's investments and decreased ability to raise funds; and the degree and nature of KKR’s competition. All forward-looking statements speak only as of the date they are made. KKR does not undertake any obligation to update any forward-looking statements to reflect circumstances or events that occur after the date on which such statements were made except as required by law. In addition, KKR’s business strategy is focused on the long-term and financial results are subject to significant volatility.

Additional information about factors affecting KKR, including a description of risks that may be important to a decision to purchase or sell any common or preferred stock of KKR & Co. Inc., can be found in KKR & Co. Inc.’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and its other filings with the SEC, which are available at www.sec.gov.