Dallas and New York - 8 January 2007

JPMorgan to manage private equity fund administration for buyout funds with
more than $10 billion in committed capital

HM Capital Partners LLC, an investment management firm focusing on private equity, has selected JPMorgan Private Equity Fund Services to provide a full suite of fund administration services for the firm’s portfolio of funds representing more than $10 billion in committed capital.

In a landmark private equity outsourcing arrangement, the HM Capital fund administration team will become a part of JPMorgan Private Equity Fund Services (PEFS) and will continue to support HM Capital as a third party administrator. JPMorgan PEFS will manage and support various processes including fund accounting, investor tracking, waterfall administration, tax support services and financial reporting requirements for HM Capital’s portfolio of funds.

Based in Dallas, HM Capital, the successor firm to Hicks, Muse, Tate & Furst Incorporated, is a private equity firm that leverages its expertise in the food, media, and energy sectors to acquire, change and build strategically relevant businesses. The firm is currently investing and managing its $1.6 billion fund and the remaining Hicks, Muse, Tate & Furst Incorporated portfolio of funds.

“We are excited to join forces with JPMorgan Private Equity Fund Services and continue to provide outstanding fund administration services to our partners. We believe this partnership will allow us to take full advantage JPMorgan’s deep experience, strong processes and technology while maintaining a dedicated team familiar with HM Capital, its funds and its partners,” said Dave Knickel, Chief Financial Officer, HM Capital.

“This HM Capital-JPMorgan agreement represents one of the largest outsourcing agreements in the private equity industry to date,” said Robert Caporale, head of JPMorgan Private Equity Fund Services. “HM Capital is renowned in private equity circles and is demonstrating clear leadership by selecting JPMorgan to support the operations of its funds portfolio.”

JPMorgan PEFS was established to provide middle and back office outsourcing of private equity fund administration services such as fund and partnership accounting, tax support and comprehensive reporting services to private equity firms and limited partners in the U.S. and Europe. JPMorgan also provides a wide range of complementary services to the private equity community including transaction advisory, cash management, credit products, escrow, custody, foreign exchange and derivatives.

JPMorgan PEFS has a team of dedicated finance and technology professionals with extensive experience in private equity accounting and operations. PEFS has offices in New York, Chicago, San Francisco and London. The team is highly skilled in providing services to private equity funds and institutional limited partners globally.

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