Blackstone Denies Rumors of Rio Tinto Bid

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.