TA Associates Completes Minority Recapitalization Of Keeley Asset Management Corp.

BOSTON--(Business Wire)--
TA Associates, a leading growth private equity and buyout firm,
today announced it has completed a minority recapitalization of Keeley
Asset Management Corp. ("KAMCO"), a boutique value manager based in
Chicago, and its sister company Keeley Investment Corp.

Founded by John L. Keeley, Jr. in 1982, Keeley Asset Management
manages equity for corporations, pension plans, foundations,
endowments and individuals, using a bottom-up value-based investment
approach that focuses on small to mid-cap companies undergoing
internal corporate restructuring. Keeley Investment Corp. is a
registered broker-dealer that underwrites and distributes the Keeley
family of mutual funds. In recent years, Keeley has significantly
increased its assets under management, a result of its unique
investment style and strong performing products. As of June 30, the
company had in excess of $10.0 billion under management. The firm's
flagship product, the Keeley Small Cap Value Fund (KSCVX), has
significantly outperformed its respective benchmarks since its
inception and has a 5-star Morningstar rating. Keeley has continued to
offer innovative strategies and funds, introducing several new funds
in the last three years.

"We are delighted to make this investment in Keeley Asset
Management," said Roger B. Kafker, a Managing Director at TA
Associates who has been invited to join Keeley's Board of Directors.
"Keeley typifies the attractiveness of the asset management business
with recurring revenues, high margins and a non-capital intensive
business model. Keeley's exceptionally strong growth is an indication
of the quality of investment products and leadership at the firm. We
look forward to working with Keeley to help fuel continued growth and
success."

"We are pleased to enter into this partnership with TA
Associates," said John L. Keeley, Jr., President and Chief Investment
Officer at Keeley Asset Management. "TA's proven experience in asset
management will help us continue to deliver above average, long-term
results for our clients and grow our business and organization."

TA Associates has four decades of investing experience, focusing
on profitable growth companies. The firm has invested more than $2.5
billion in financial services and financial technology companies. Some
of TA's prior investments in the asset management sector include
Advisory Research, Inc., Affiliated Managers Group, AIM Management
Group (Invesco Aim), Arnhold S. Bleichroeder Holdings, Jupiter
Investment Management Group, K2 Advisors, Numeric Investors and
Thomson Advisory Group (PIMCO).

Goodwin Procter and Debevoise & Plimpton acted as legal advisors
to TA Associates. Kirkland & Ellis served as Keeley Asset Management's
legal advisors. UBS Investment Bank acted as financial advisor to
Keeley Asset Management.

TA Associates

Founded in 1968, TA Associates is one of the largest and most
experienced private equity firms. With offices in Boston, London and
Menlo Park, the firm manages $12 billion in capital and has invested
in more than 380 companies. TA Associates leads buyouts and minority
recapitalizations of profitable growth companies in the technology,
financial services, business services, healthcare and consumer
industries. More information about TA Associates can be found at
www.ta.com.

About Keeley Asset Management

Keeley Asset Management Corp. (KAMCO) is a privately owned
Chicago-based money management firm, founded in 1982. Located in
Chicago's Financial District, KAMCO currently has more than $10
billion under management. Keeley is a value manager with the principal
objective of seeking long-term capital appreciation in the equity
markets for individuals and institutions in separately managed Small
Cap Value and Mid Cap Value portfolios. KAMCO also manages the KEELEY
funds, open-end publicly-traded mutual funds that include the KEELEY
Small Cap Value Fund, the KEELEY Small-Mid Cap Value Fund, the KEELEY
Mid Cap Value Fund and the KEELEY All Cap Value Fund. For more
information, please visit www.keeleyasset.com.

Safe harbor statement under the U.S. Private Securities Litigation
Reform Act of 1995: Statements made in connection with this release
which are not historical fact, such as forward-looking statements
concerning future financial performance and growth, involve risk and
uncertainties. Such statements are subject to various factors that
could cause actual results to differ materially from those set forth
in the forward-looking statements. Any forward-looking statements
represent the best judgment of TA Associates and Keeley Asset
Management as of the date of this release. TA Associates and Keeley
Asset Management disclaim any intent or obligation to update any
forward-looking statements.

TA Associates
Marcia O'Carroll, 617-574-6796
mocarroll@ta.com
or
BackBay Communications
Philip Nunes, 617-536-0366
phil.nunes@backbaycommunications.com

Copyright Business Wire 2008