The Carlyle Group Promotes Three Staff to Managing Director and Seven Staff to Principal/Director

Washington DC – Global private equity firm, The Carlyle Group, announced today that it has promoted ten investment professionals, three to managing director and seven to principal/director. Ted Hobart was promoted from principal of Carlyle Asset Management Group to managing director and Robert Easton and Franck Falézan were both promoted from director of Carlyle Europe Partners to managing director.

The new principals/directors promoted from vice president are Kandasamy Chandrasekar and Sean He of Carlyle Asia Venture Partners; Marc Demumieux of Carlyle Europe Real Estate Partners; Shigeru Fukunaga of Carlyle Japan Partners; David Kupperman of Carlyle Asset Management Group; and Steve Owens of Carlyle Partners. Dennis Schulze of Carlyle Europe Partners was promoted from Associate Director to Director. (Principals and directors are the same level in Carlyle parlance; principal is the title used in the U.S. and director is the title used in Europe and Asia.)

Carlyle co-founder David M. Rubenstein said, "Our quality people are the heart of our success. On behalf of my co-founders and colleagues I thank each of these talented investment professionals for their commitment to Carlyle and the service of our investors. These promotions are well deserved."

New Managing Directors:

Ted Hobart is a co-head of the secondary private equity fund team within Carlyle Asset Management Group, responsible for both fundraising and investing. Prior to joining CAMG in 2001, Mr. Hobart was a Partner at 4C Ventures, an early stage technology venture firm. Prior to 4C Ventures, Mr. Hobart spent several years with Paul Capital Partners, one of the leading secondary private equity investment firms. Before business school, Mr. Hobart worked in leveraged lending at Chemical Bank in New York. Mr. Hobart received his MBA from Stanford University and his BA in Economics from Williams College.

Robert Easton, who has a first class honours degree in chemistry from Imperial College, London and a doctorate from Oxford University, has spent his career in mergers and acquisitions and corporate development. Prior to joining Carlyle in 2000, he was vice president of corporate development for Invensys plc, executing a total of 35 acquisitions and disposals with an aggregate value of €7 billion through a period of substantial change for the group. Prior to this he spent eight years in the investment banking business as a mergers and acquisitions specialist advising on transactions in the chemical and pharmaceutical sectors and on debt and equity capital raising in the Euro markets.

Franck Falézan, who joined Carlyle in June 1998, is based in Paris and has worked on a number of large deals in Europe over the past five years. In April 2002, he was instrumental in the acquisition of Aprovia and Medimedia from Vivendi Universal Publishing. Aprovia is a publisher of 70 business titles and MediMedia, a medical publisher, ranks third in the world. In February 2000, Mr. Falézan was involved in the execution of Carlyle's investment in Otor, a French company and one of the largest corrugated board manufacturers in Europe. He was also involved with Carlyle's acquisition of a 40 percent stake in Le Figaro in July 1999, and sat on the board of the company until Carlyle sold its stake in March 2002. He provides input and support on investment opportunities in the media industry across Europe. Mr. Falézan received his MBA from Harvard Business School where he graduated with Distinction. He also earned an MS from Ecole Polytechnique in France.

New Principals/Directors:

Kandasamy Chandrasekar is a principal involved in the management of India operations and also on the execution of investments in India including Financial Software and Systems and Educomp Datamatics. He has also reviewed a number of investment opportunities in the IT sector. Prior to joining Carlyle in 2000, Mr. Chandrasekar was a Manager - Strategic Investments at Intel Corporation, co-heading the investment activities of Intel Capital in India, for about 2 years. Mr. Chandrasekar received his MBA from Bharathidasan Institute of Management, India and a BE from College of Engineering, Guindy, Chennai.

Marc Demumieux is involved in Carlyle Europe Real Estate Partners acquisitions focused on the French market (five acquisitions as of the end 2002). Prior to joining Carlyle mid-2001, Mr. Demumieux was Associate Director at LaSalle Investment Management in Paris since 1999 where he was in charge of the real estate acquisitions in France and Italy, involved in office buildings, warehouses, commercial centers, and hotels. Mr. Demumieux received his Master in Bank & Finance from the University of Paris Panthéon-Assas in 1994. He holds his 4 years degrees in Economics (1990/1993: Maîtrise, Licence) from Paris II University. He studied Architecture/Design (ESAM Paris 1986, Ecole Boulle Paris 1988) and Electronics (graduate 1985, Versailles).

Shigeru Fukunaga is dedicated to the Carlyle Japan Venture Partners. Prior to joining Carlyle in 2001, he was a principal at Crimson Ventures as one of the funding members of Crimson Tokyo. During the last six years, he has been involved in more than 30 investments throughout Asia, Japan, and the U.S. Mr. Fukunaga received a BA degree from Waseda University, school of commerce. He also completed an Executive Course in Entrepreneurship at Babson College as a member of the U.S. and Japan Venture Capitalist Exchange Program sponsored by the Japanese Government.

Sean He is responsible for deal execution and portfolio management of venture capital investments in North Asia. Prior to joining Carlyle in 2000, Mr. He was an Associate Director of Intel Capital where he was responsible for venture capital investments in the Asia-Pacific region. Mr. He received his BE from Zhejiang University, China, a ME at Carleton University, Canada, a MBA from York University, Canada and is a Chartered Financial Analyst.

David Kupperman is involved in the sourcing, diligence, and execution of deals for the secondary private equity group. He is also involved with various other investment activities within the asset management group. Prior to joining Carlyle in 2002, Dr. Kupperman was a Vice President in the Private Equity Group at Goldman, Sachs & Co. In that role, he was responsible for risk management, valuation, and performance analysis on various secondary holdings and fund of funds products. Dr. Kupperman holds a PhD in Physics from The Johns Hopkins University (Baltimore, MD), and a ME in Applied Physics and a BA in Physics and Astrophysics from Cornell University (Ithaca, NY).

Steve Owens is involved in investment activity and portfolio management of the U.S. buyout fund, with a particular focus on the telecommunications and media sector. Prior to joining Carlyle in August 1998, Mr. Owens was with Gryphon Investors, a San Francisco-based private equity firm, and Lehman Brothers, New York and Hong Kong offices. Mr. Owens graduated with distinction from Emory University and has an MBA from Harvard Business School.

Dennis Schulze is involved in the execution of Carlyle's investments in Honsel KG, Beru AG and Edscha AG. Since joining Carlyle, he has also reviewed numerous investment opportunities in Germany, Austria, and Switzerland in various industries. Prior to joining Carlyle in 1999, Mr. Schulze was an independent consultant. His work included advisory services in the areas of International Accounting Standards and external financial reporting as well as the preparation of expert appraisals/ valuation opinions. Mr. Schulze received his MOA equivalent (Diplom-Kaufmann) from Westfaehlische Wilhelms Universität, Muenster and a PhD from Westfaehlische Wilhelms Universität, Muenster.