Completion of Acquisition of Majority Stake in ProSiebenSat.1 Media AG

Completion of Acquisition of Majority Stake in ProSiebenSat.1 Media AG Back to Press Releases

Completion of Acquisition of Majority Stake in ProSiebenSat.1 Media AG

March 6, 2007

Frankfurt/London, March 6, 2007 – Completion under the share purchase agreement dated December 14, 2006, between Lavena Holding 4 GmbH, a holding company controlled by funds advised by Kohlberg Kravis Roberts & Co. (KKR) and funds advised by Permira, respectively, and German Media Partners L.P. for the sale and purchase of its majority interest in ProSiebenSat.1 Media AG occurred today. The transfer of legal ownership of the majority interest in Germany’s largest commercial TV Group has thus been finalized. Lavena Holding 4 GmbH now beneficially owns 88 percent of the voting common shares and approximately 13 percent of the non-voting preference shares, collectively representing approximately 50.5 percent of the aggregate share capital of ProSiebenSat.1 Media AG.

The following members of the Supervisory Board of ProSiebenSat.1 Media AG resigned from their offices today with immediate effect: Haim Saban, Adam Chesnoff, John Connaughton, Albert Dobron, Patrick Healy, Ynon Kreiz, Seth Lawry, Stephen Pagliuca, Brian Powers, Arieh Saban, Scott Sperling and Joshua Steiner. Lavena 4 Holding GmbH intends to have new Supervisory Board members appointed as soon as possible.

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. Over the past 30 years, KKR has completed approximately 150 transactions with an aggregate value of nearly US$ 280 billion. (www.kkr.com)

About Permira
Permira is a leading international Private Equity specialist. As an independent business, Permira is owned and controlled by its partners. The firm’s team of around 100 professionals, based in Frankfurt, Guernsey, London, Luxembourg, Madrid, Milan, New York, Paris, Stockholm and Tokyo, advises the Permira Funds with a total committed capital of more than Euro 21 billion. Since 1985, the Permira Funds have completed over 180 private equity transactions. During the last year, the Permira Funds have completed eight transactions with a combined transaction value of over Euro 20 billion. www.permira.com

Contact

Permira
Hans Ulrich Helzer
ergo Kommunikation
Tel.: +49 (0)221-912887-12
E-Mail: helzer@ergo-pr.de

KKR
Alexander Geiser
Hering Schuppener Consulting
Tel.: +49 (0)69-92187474
E-Mail: ageiser@heringschuppener.com

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Miles Radcliffe-Trenner

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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.