Washington D.C, May 8, 2006 /PRNewswire/ - EMP Global LLC ("EMP") announced today that it has acquired a stake in the PAMA Group ("PAMA") and will integrate the PAMA organization with its own to create a new force in Asian private equity. Michael Kwee, CEO and Chairman of PAMA, supported by senior members of EMP's existing Asian team, will direct EMP's business in Asia and will be Vice Chairman of EMP Asia with EMP's Chairman, Moeen Qureshi, acting as Chairman.

EMP is the largest private equity fund advisor focused on emerging markets and manager of eight private equity funds totaling over US$6.5 billion invested in Africa, Asia, Latin America, Europe and the Middle East. The firm is based in Washington, DC and operates out of eight offices in the regions in which it invests. It began activities in Asia in 1994.

PAMA was one of the first institutional private equity investors in Asia when it was established in 1986 under the name Prudential Asset Management Asia Ltd. Prior to this transaction, PAMA was wholly owned by Michael Kwee. PAMA has managed private equity funds in Asia totaling over US$1.3 billion in more than 100 investments. In September 2005, PAMA closed a US$155 million middle market buyout fund in Japan in partnership with NIF-SMBC Ventures.

Going forward, the PAMA team will be integrated into EMP's Asian operations, based in Hong Kong, and EMP will support PAMA's existing fund management efforts, including those in Japan. The management of EMP's existing funds in Asia will not change. EMP's goal in Asia is to build upon the experience of both institutions to develop a new Pan-Asian private equity business in the buy-out and growth capital areas, focusing on the middle market.

Moeen Qureshi, Chairman of EMP said:

"We are delighted with the merger of our Asian business with the PAMA Group. PAMA is one of the pioneers in the Asian private equity business and under Michael's leadership has a long history of successful investments."

"The PAMA team's skills in the buy-out and growth capital business will complement our own team and allow EMP Asia to aggressively position itself to develop new business in Asia."

Don Roth, Managing Partner of EMP said:

"While the Asian macro environment is currently very conducive to the private equity, there is a real dearth of seasoned Asian private equity professionals. Michael and his team complements EMP's own experience in Asia and should allow us to offer private equity opportunities and experience that are unique in the market today." "PAMA also provides EMP with its first experience in the developed markets through its middle market buy-out fund in Japan."

Michael Kwee, Chairman of PAMA said:

"We have been working closely with EMP for over six months and are delighted to formalize our relationship. PAMA has prided itself on being a pioneer over the years in private equity investments in a variety of industries across Asia. The opportunity to apply that experience in partnership with EMP and its global emerging market platform is an exciting opportunity for me and my team."

About EMP Global LLC

EMP Global LLC, the largest private equity fund advisor focused on emerging markets, advises eight private equity funds totaling US$6.5 billion invested in Africa, Asia, Latin America, Europe and the Middle East. EMP Global has over ninety professionals based across eight offices in the regions in which it invests.

About PAMA Group

PAMA Group is one of the longest established private equity investment companies in Asia. Prudential Asset Management Asia was established in 1986 as an indirect subsidiary of The Prudential Insurance Company of America to focus on making private equity investments in Asia. On November 28, 2000, senior management of the Company completed a management buy-out transaction with Prudential. The Company's name changed to PAMA Group Inc. The company has managed over US$ 1.3 billion in over 100 investments. PAMA has offices in Hong Kong, Singapore, Malaysia, and, Japan.

Investor Relations, Bharat Parashar, +1-202-331-9051, parasharb@empglobal.com

Media, Tristan B. Peniston-Bird, +1-212-515-1933, tpeniston-bird@gavinanderson.com