Blackstone’s Advisory Group Hires Patty Lynett as CAO

New York, July 13, 2005: The Blackstone Group today announced the appointment of Patricia Lynett as Chief Administrative Officer to the firm’s Corporate Advisory Group.

With the recent expansion of Blackstone’s Corporate Advisory Group and the growing number of advisory mandates for increasingly high profile transactions, there was a need to manage resources more effectively. Patty’s role encompasses overall management including career development, recruiting and training, the staffing of assignments, new business and expansion opportunities, information management systems and other management and administrative aspects of the group’s activities.

Prior to joining Blackstone Patty had worked in a broad variety of advisory businesses over fifteen years. They included HSBC’s U.S. Advisory Business as a Senior Vice President, the Investment Banking divisions of CSFB and DLJ as a Director and Vice President, and Citicorp’s Investment Banking Group as Vice President.

“We are excited to have Patty to undertake this role,” said Tony James, President of The Blackstone Group, adding, “Her integral involvement in such a wide variety of business and advisory functions over the past fifteen years gives her a deep understanding of the importance of effective management for such a group.”

Patty received her MBA from Harvard and her BA in Economics from the University of Chicago.