Press Release

Axiom Asia Announces Final Closing of
Its First Asia-Focused Fund of Funds

March 22, 2007

Singapore — Axiom Asia Private Capital Pte Ltd announced today that it has completed the final closing of Axiom Asia Private Capital Fund I, L.P. (the Fund), a fund of funds that specializes in private equity fund investments in Asia. Capital committed to the Fund equaled $440 million, above the original target of $350 million. The fund was significantly oversubscribed.

The firm was founded by Chihtsung Lam, Yewhong Goh and Edmond Ng in April 2006. They were subsequently joined by Marc Lau. The team has over 30 yearsof investment experience at GIC Special Investments (“GIC SI”), the private equity arm of the Government of Singapore Investment Corporation (“GIC”). The two Managing Directors of the firm, Chihtsung and Yewhong, held a variety of senior positions at GIC SI and have known each other for over 20 years, having met when both attended Cambridge University in the 1980s. Chihtsung was an Executive Vice President and a member of GIC SI’s management committee and investment committee and Yewhong was among its senior investment professionals based in Asia, and once GIC’s Hong Kong representative.

Axiom Asia was founded with the vision of offering limited partners interested in Asia the experience of a senior, team of private equity professionals who have worked together at one of Asia’s leading institutions. Each member of the team combines experience in Asian and global private equity, and have worked on both fund and direct investment transactions.

“We realized there was an opportunity for someone to become the market leader in a new space – the independent Asian private equity fund of funds segment,” said Chihtsung Lam. “We observed in the 1990s the emergence of the European fund of funds segment, and believed that there was a similar opportunity for Asian fund of funds today. We realized that we were fortunate to be in a fairly unique situation, as a senior team who had previously worked together in one of the region’s leading private equity institutions.”

Investors in the Fund include leading endowments, foundations, pensions, financial institutions and family offices. Commitments to the Fund came from investors in the United States, Europe, the Middle East and Asia. The Fund’s lead investors are the William and Flora Hewlett Foundation and Comprehensive Financial Management.

“A significant proportion of our LPs are endowments and foundations who do not typically invest in a fund of funds, but are making an exception for Asia,” said Yewhong Goh. “Our strategy is to be a bridge between our LPs and GPs in Asia, leveraging on our global private equity experience and in-depth understanding of the Asian private equity market. We adopt an open and transparent approach with both our LPs and GPs, and seek to establish long term relationships with them.”

“We believe this is an attractive proposition for our Asian general partners, as an investment by Axiom would often place that fund on the watchlist for our LPs in their own capacities as well,” added Chihtsung Lam. “We aim to be one of the key influencers in the Asian marketplace, someone that would be considered a validating presence by other LPs performing due diligence on a fund.”

San Francisco-based Probitas Partners acted as exclusive placement agent for the fundraising. “We congratulate Axiom Asia on the impressive success of their first fundraising,” said Jack Wills, a Principal at Probitas Partners. “Chihtsung, Yewhong and their colleagues at Axiom built an exceptional reputation in their years with GIC SI, and they bring an impressive depth and range of experience to their new endeavor. We‘re excited to have worked with the Axiom team on the fundraising and look forward to their success as an independent firm.”

About Axiom Asia Private Capital

Axiom Asia, founded in 2006, is an independent investment firm focusing on fund investments in buyout, venture capital and growth capital opportunities in the Asia Pacific Region. The firm is headquartered in Singapore. For more information, please visit www.axiomasia.com.

About Probitas Partners

Probitas Partners, founded in 2001, is an employee-owned, independent provider of alternative investment solutions, headquartered in San Francisco with offices in New York and London. Its integrated global practice includes placement of private equity funds, portfolio management and liquidity management. For more information please visit www.probitaspartners.com or call (415) 402-0700.

Contacts

Chihtsung Lam
Axiom Asia Private Capital Pte Ltd.
250 North Bridge Road
#11-02 Raffles City Tower
Singapore 179101
chihtsung@axiomasia.com
U.S. Telephone: (650) 996-3694

Jack Wills
Probitas Partners
425 California Street
Suite 2300
San Francisco, CA 94104
(415) 402-0700