Press Releases

New York, New York, December 21, 2007 — Sithe Global Power, LLC, through its special purpose affiliate SG Bujagali Holdings, Ltd., (collectively, “Sithe Global”) announced today with its partner, Industrial Promotion Services (K) (“IPS”), an affiliate of the Aga Khan Fund for African Development (“AKFED”), that their jointly owned special purpose company, Bujagali Energy Limited (“BEL”), a Ugandan company, has closed financing on a USD 682MM construction debt facility for the 250 MW Bujagali hydroelectric station located on the Nile River in Uganda, Africa.

New York; December 13, 2007: (NYSE:BX) The Blackstone Group today announced the closing of Blackstone Credit Liquidity Partners L.P. (BCLP) with capital commitments in excess of $1.3 billion.

London/New York: December 10, 2007: Following an article entitled “Blackstone Planning Break-up Bid for Rio”, in today's Daily Telegraph, The Blackstone Group (BX: NYSE) has consulted with the U.K. Takeover Panel and told them that there is no truth to this story. Blackstone can also confirm today that it is not involved in this transaction in either an investment or advisory role. The Panel Executive has confirmed that this is not a statement to which Rule 2.8 of the Takeover Code applies.

Blackstone will host a conference call on November 12, 2007 at 10:30 am ET to discuss third quarter 2007 results. The conference call can be accessed by dialing (888) 680-0860 (U.S. domestic) or +1 (617) 213-4857 (international) pass code 57287019.

New York, November 9, 2007: The Blackstone Group L.P. (NYSE:BX) today announced that Stephen A. Schwarzman, Chairman, CEO and Co-Founder of The Blackstone Group, is scheduled to present at the 2007 Merrill Lynch Banking & Financial Services Investor Conference on Wednesday, November 14, 2007 at 12:10 pm. A live audio webcast of the presentation will be available on the Investor Relations section of our website at http://ir.blackstone.com/events.cfm. For those unable to listen to the live audio webcast, a replay will be available on our website shortly after the event. Please direct any questions regarding obtaining access to the webcast to Blackstone’s Investor Relations group at BlackstoneInvestorRelations@blackstone.com.

New York / Mumbai, November 07, 2007: The Blackstone Group today announced an investment of USD 65 million in the Hyderabad based MTAR Technologies Private Limited, subject to regulatory approval. MTAR is the leading precision engineering company in India and has been closely involved with Indian nuclear, space and defense programs for over 37 years. It manufactures precision machined parts for nuclear power reactors, and engine & structural components for aerospace and defense applications. Under the terms of the transaction, the funding will be a mix of primary and secondary equity. MTAR will continue to be led by the original founders - P. Ravindra Reddy, Satyanarayana Reddy and P. Jayaprakash Reddy - and the existing management team which has been instrumental in achieving strong growth and market leadership.

New York, November 6, 2007: The Blackstone Group (NYSE:BX) today announced that Dr. Alan Muney has joined the firm’s private equity team as an Executive Director. Alan will lead an effort across Blackstone’s 52 portfolio companies to manage their healthcare benefits so as to deliver the optimal coverage in a cost effective way to their employees. This is a new position at Blackstone.

New York, November 5, 2007: The Blackstone Group L.P. (NYSE:BX), announced today that it will host its third quarter investor conference call Monday, November 12, 2007 at 10:30 am ET. Tony James, President and Chief Operating Officer; Michael Puglisi, Chief Financial Officer; and Joan Solotar, Senior Managing Director – Public Markets, will review The Blackstone Group L.P.’s third quarter earnings. The conference call can be accessed by dialing (888) 680-0890 (U.S. domestic) and (617) 213-4857 (international) pass code 57287019. Additionally the conference call will be broadcast live over the Internet and can be accessed by all interested parties through the Investor Relations section of The Blackstone Group’s website http://ir.blackstone.com/. For those unable to listen to the live broadcast, a replay will be available on our website or by dialing (888) 286-8010 (U.S. domestic) or (617)801-6888 (international) pass code number 65468460, beginning approximately two hours after the event.

Blackstone Reaffirms Ambitious Growth Strategy BEVERLY HILLS, CA and NEW YORK, NY– October 29, 2007 – Hilton Hotels Corporation (“Hilton”) and The Blackstone Group (NYSE:BX) (“Blackstone”) today announced the appointment of Christopher J. Nassetta as President and Chief Executive Officer of Hilton. Mr. Nassetta currently leads Host Hotels and Resorts, the largest owner of luxury and upscale hotels in the world. Mr. Nassetta joins Hilton as the company moves into an exciting new phase of growth, both in the U.S. and abroad.

BEVERLY HILLS, CA and NEW YORK, NY, October 24, 2007 — Hilton Hotels Corporation (NYSE:HLT) (“Hilton”) and The Blackstone Group (NYSE:BX) (“Blackstone”) today announced the completion of the previously announced merger (the “Merger”) of Hilton with an affiliate of The Blackstone Group’s real estate and corporate private equity funds. Pursuant to the terms of the merger agreement, holders of Hilton’s common stock will receive $47.50 in cash, without interest, for each share of common stock that they own immediately prior to the effective time of the Merger. As a result of the Merger, Hilton’s common stock will cease to trade on the New York Stock Exchange at the close of market today and will be delisted.

New York/Hong Kong, October 22nd, 2007: The Blackstone Group today announced that Mr. Andrew Kuo has joined its Hong Kong office as Managing Director and Vice Chairman, Greater China. He will be primarily involved in sourcing and managing private equity deals, as well as helping the other business divisions in the region. Mr. Stephen Schwarzman, Chairman and CEO of the Blackstone Group said, “We are very pleased that Andrew is joining our Asian operation. He brings with him a wealth of experience working in Taiwan and the mainland of China, as well as excellent client connections in that region. His experience in both direct investment and investment banking will be very useful to us as Blackstone expands its Asian franchise.”

London, October 18, 2007: The Blackstone Group today announced that Francisco Rey has joined the firm’s corporate advisory group as a Senior Managing Director. Mr. Rey will be located in Blackstone’s London office. While Francisco will focus on the European communications industry, he will also help expand the advisory practice in the sector to the Middle East and Asia and complement Blackstone’s efforts in media and technology.

New York, September 19, 2007: The Blackstone Group today announced that Mark Woodward has joined the firm’s private equity group as a Senior Advisor. Mr. Woodward has over 30 years of experience in the information technology sector, with 23 years in sales/marketing and general management. Mark will be responsible primarily for sourcing and evaluating software and information technology related transactions, and will be based in the Bay Area.

New York, September 13, 2007: The Blackstone Group today announced the appointment of Vikrant Sawhney as a Managing Director in the firm’s Private Equity group. He will lead Blackstone’s activities in financing and capital markets and help oversee certain credit market related investment activities.

Beijing/New York, 10th September 2007 – China National Chemical Corporation (“ChemChina”), a leading international diversified chemical company, and The Blackstone Group today announced a strategic partnership to build a global leader in the specialty chemical industry. The Blackstone Group will invest up to US$ 600 million into China National Bluestar (Group) Corporation (“Bluestar”), a wholly-owned subsidiary of ChemChina, for a 20% stake. Antony Leung and Ben Jenkins, a former director of Celanese, will join the board.

Hyderabad, 28th August 2007 – Nagarjuna Construction Company Limited (“NCC” or the “Company”), a leading Indian construction company, today announced that its Board of Directors has approved an investment of US$ 150 million by The Blackstone Group funds. NCC will raise US$ 150 million through a fresh issue of shares and convertible warrants. Blackstone will have representation on the Board of NCC. Kotak Investment Banking and SSKI acted as the investment banking advisors to the Company and Blackstone, respectively, in the transaction.

Bangalore, August 20, 2007: Gokaldas Exports Ltd., India’s largest garment manufacturer and exporter, and The Blackstone Group today announced a partnership to work together to make Gokaldas a global leader in apparel industry. As part of this agreement, Blackstone would acquire a 50.1% stake in the company from the Promoters. The founder promoters would continue to lead the Company with Mr. Madanlal Hinduja as the Chairman, Mr. Rajendra Hinduja as the Managing Director and Mr. Dinesh Hinduja as the Executive Director. Per SEBI regulations, this transaction triggers an open offer by Blackstone to the public shareholders of Gokaldas for an additional 20% of the Company’s outstanding shares. Subject to regulatory approvals, Blackstone would invest c. $165 million (including open offer) and have representation on the Board of Directors.

Blackstone will host a conference call on August 13, 2007 at 11:00 a.m. ET to discuss second quarter 2009 results. The conference call can be accessed by dialing (888) 713-4218 (U.S. domestic) or +1 (617) 213-4870 (international) pass code 92341915.

Partnering with The Blackstone Group provides robust platform for continued growth CORAL GABLES, Fla. – AUGUST 9, 2007 – Stiefel Laboratories, Inc. announced today that private equity funds of The Blackstone Group have agreed to make a $500 million minority investment in Stiefel Laboratories.

New York – August 8, 2007 – The Blackstone Group (NYSE: BX) today announced the final closing of its latest global private equity fund, Blackstone Capital Partners V (BCP V).