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INVESTCORP TO ACQUIRE MOODYS

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					Investcorp to Acquire Moody International
London January 2, 2006 - Investcorp, the asset management firm specializing in alternative
investments, today announced that it had agreed to acquire Moody International (Holdings)
Limited from Close Brothers Private Equity for $311 million (including debt to be repaid at
closing).

Moody, headquartered in the UK, is a leading global provider of inspection services and
outsourced personnel supply to the oil and gas, mining and construction sectors, as well as a
leading provider of certification services in certain high growth markets. Moody’s blue chip
client base includes, amongst others, BP, Royal Dutch Shell, Statoil, Exxon Mobil, Chevron,
Dow Chemicals, Saudi Aramco, Lukoil and Rosneft The Company’s range of services includes
on-site vendor inspection, expediting, fabrication inspection and maintenance inspection
services to many of the world’s leading oil and gas companies. Moody utilizes a global network
of offices to co-ordinate the provision of these services for its clients primarily in support of their
upstream oil and gas development projects.

Commenting on the transaction, Steven Puccinelli, head of Investcorp's European private equity
team, said: “The acquisition of Moody represents an attractive investment opportunity for
Investcorp given its leading niche positions, earnings generated worldwide from a very high
quality client base, and the continuing strong growth in demand for services in the oil and gas
sectors.”

Brendan Connolly, CEO of Moody International commented: “With the backing of Investcorp we
are ready to accelerate our expansion plans, strengthen our position in key countries and
continue our development of new services to assist and serve our clients. We also expect to
take advantage of Investcorp's knowledge to increase our footprint in the Gulf. We look forward
to our new challenges, as we have the right team and the right partner to deliver our Global
strategy.

Closing is expected to occur at the end of January 2007.

ENDS

				
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