Statement by Josh Wolf-Powers in Response to Recent Press Reports

NEW YORK--(Business Wire)--
The following is a statement by Josh Wolf-Powers:

In my role from 2003-2005 with the Comptroller of the City of New York one of my
responsibilities was to educate prospective fund managers about how to navigate
the complex investment process of the New York City retirement systems. At the
time, most private equity funds in which public pension funds invested used a
placement agent. Although I do not specifically recall a conversation with
Steven Rattner, if asked, I would have shared that observation. At no time
during my tenure did I direct Mr. Rattner or anyone else to hire Hank Morris,
Searle, or any other placement agent, and any suggestion that I did is false.

Owen Blicksilver Public Relations
Caroline Luz, 203-656-2829

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