Carlyle Group

The Carlyle Group is a private global investment firm which originates, structures and acts as lead equity investor in management-led buyouts, strategic minority equity investments, equity private placements, consolidations and build-ups, and growth capital financings. Carlyle is the eleventh largest defense contractor in the US because of its ownership of companies making tanks, aircraft wings and other equipment. It is also heavily invested in telecommunications. Headquartered in Washington, DC, the firm serves a diverse base of nearly 425 Investors -- mainly large pension funds and banks -- in 50 countries worldwide. The Carlyle Group does not provide investment or other services to the general public. Carlyle has ownership stakes in 164 companies which employed more than 70,000 people and generated $16 billion in revenues in the year 2000.

Formed in 1987, The Carlyle Group has invested over $5.8 billion of equity in 217 corporate and real estate transactions with an aggregate acquisition value of over $17 billion. As of March 2001, the firm had more than $12.5 billion of capital under management. Separate teams of investment professionals manage funds dedicated to management-led buyouts and strategic minority investments, venture capital, and real estate investment opportunities. Carlyle also has three High Yield Funds which invest in leveraged loans, high yield bonds, mezzanine instruments and private equity. The firm conducts its investment activities through focused industry groups which leverage the extensive operating, corporate and governmental experience of its partners.

Frank C. Carlucci has been a Managing Director of Carlyle since 1989 and the Chairman since 1993. Mr. Carlucci was Secretary of Defense from November 1987 through January 1989, following his service as Assistant to the President for National Security Affairs under President Reagan. He is also Chairman of the US-ROC (Taiwan) Business Council. Before serving in these positions, Mr. Carlucci was Chairman and Chief Executive Officer of Sears World Trade, Inc.

James A. Baker III has been the Senior Counselor at The Carlyle Group since 1993. Mr. Baker has served at the senior levels of the U.S. government under three different Presidents. He served as the nation's 61st Secretary of State from January 1989 through August 1992 in the Bush Administration. Mr. Baker served from 1985 to 1988 as the 67th Secretary of the Treasury in the Reagan Administration. Prior to his service as Secretary of the Treasury, Mr. Baker was President Reagan's White House Chief of Staff from 1981 to 1985. Mr. Baker's record of public service began in 1975 as President Ford's Under Secretary of Commerce. It concluded with his service once again as White House Chief of Staff for President Bush from August 1992 to January 1993.

On 14 May 2001 The Carlyle Group announced that John Major, the former Prime Minister of Great Britain, had agreed to join the firm as Chairman of Carlyle Europe. In that capacity, Mr. Major serves as Chairman of Carlyle's European private equity funds and their advisory boards.

For more than a decade, Carlyle has been the leading private equity investor in the aerospace and defense industries completing 23 transactions representing a combined purchase price of more than $7.4 billion. In 1997 the group made a 650% profit by selling BDM International to Litton. And in December 2001, Carlyle sold off the majority of its holdings in United Defense, earning a $1 billion profit from the investment.