Lavena Holding 5 GmbH Sells 8m Preference Shares of ProSiebenSat.1 Media AG (Representing 3.7% of Total Capital)

MUNICH, January 13, 2011 /PRNewswire/ -- Kohlberg Kravis Roberts & Co. L.P. (together with its affiliates, "KKR") and funds advised by Permira ("Permira Funds") announce that Lavena Holding 5 GmbH, the holding company held jointly by KKR and the Permira Funds, is intending to sell in the market a total of 8 million preference shares, representing approximately 3.7% of the total share capital of ProSiebenSat.1 Media AG ("P7S1"), by way of an accelerated book building to institutional investors.

The proceeds of this one-off share disposal will be used to repay debt and improve the cash position of the Lavena group, thus securing and strengthening its capital structure. The transaction will increase P7S1's preference share free float and liquidity.

Following the transaction, KKR and Permira Funds will continue to hold approximately 53.0% of P7S1's share capital and 88% of its voting rights. Lavena Holding 5 GmbH has agreed on a customary 90 day lock-up period.

Book building will start immediately. This press release does not constitute an offer to sell, and the sale of P7S1 shares by Lavena Holding 5 GmbH does not constitute a public offering.

Disclaimer

Some of the information in this press release may contain predictions, expectations or forward-looking statements. These statements may entail known or unknown risks or uncertainties. Actual results and developments may therefore differ materially from the expressed expectations and assumptions. The performance of financial markets, the development of exchange rates, amendments to national and international laws, in particular concerning tax regulations, may also have an impact. Except as provided by law, KKR, the Permira Funds and the Lavena Group, undertake no obligation to update forward-looking statements.

The preference shares will not be or have not been registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act

About KKR

Founded in 1976 and led by Henry Kravis and George Roberts, KKR is a leading global alternative asset manager with $55.5 billion in assets under management as of September 30, 2010. With over 650 people and 14 offices around the world, KKR manages assets through a variety of investment funds and accounts covering multiple asset classes. KKR seeks to create value by bringing operational expertise to its portfolio companies and through active oversight and monitoring of its investments. KKR complements its investment expertise and strengthens interactions with investors through its client relationships and capital markets platforms. KKR is publicly traded on the New York Stock Exchange (NYSE: KKR). For additional information, please visit KKR's website at http://www.kkr.com.

About Permira

Permira is a private equity firm with a European heritage and a global reach. The firm advises funds with a total committed capital of approximately EUR20 billion. The Permira funds, raised from pension funds and other institutions, make long-term investments in companies with the ambition of transforming their performance and driving sustainable growth.

Permira is wholly independent and owned by its Partners. The firm's teams are based in Frankfurt, Guernsey, Hong Kong, London, Luxembourg, Madrid, Menlo Park, Milan, New York, Paris, Stockholm and Tokyo. They specialise in five key sectors of activity: Consumer, Financial Services, Healthcare, Industrials and TMT.

The Permira Funds have made over 190 private equity investments since 1985 and have returned EUR16 billion to their investors over the past decade. Current investments include Birds Eye Iglo, Hugo Boss, All3Media and AA Saga. For more information visit: http://www.permira.com.

    KKR :                                 Permira:
    Press contact:                        Press contact:
    Anna Schachter  +49-69-92-1874-78     Ulrich Porwollik  +49-69-97-1466-40

SOURCE Lavena Holding 5