ADVENT EXPANDS VENTURE CAPITAL TEAM TO ASIA

(Full text of a statement.  Contact details below.)

SINGAPORE, June 13, 2000/HK PRNewswire-AsiaNet/ -- Advent International, a global private equity firm and a leading investor in Asia, is expanding its venture capital team with the appointment of Kevin Chan as Head of Technology Investments in Asia.  Mr.  Chan, based in Hong Kong, joins Advent from HSBC Investment Bank Asia, where he was a founding member of the firm's Asian Telecom and Technology team.  He has over eight years of telecommunications and technology experience.

"We are delighted that Kevin is joining our team," said Tan Keng Boon, Chief Executive of Advent's Asia Pacific deal group. "His appointment is part of our effort to expand our telecom and technology expertise in the region, as we look to build on Advent's successful track record in these sectors in North America and Europe."

While at HSBC, Mr.  Chan helped build the firm's regional telecom and technology franchise and participated in the origination and execution of corporate finance transactions for major clients, including NTT DoCoMo, Hutchison Whampoa and Pacific Century Cyberworks.  Previously, he worked at Goldman Sachs (Asia) L.L.C.  in its investment banking division, where he focused primarily on the telecommunications sector.  Mr.  Chan has also held electrical engineering positions at NYNEX in New York and Millicom International Cellular in the UK.  He is a graduate of Cambridge University, Polytechnic University and Columbia Business School.

Mr.  Chan's appointment follows two recent developments relating to Advent's technology activities in Asia.  In March, the Singapore government's investment arm, GIC, committed $25 million to Advent's Digital Media & Communications III (DMC III) fund.  DMC III is a $300 million venture capital fund being raised to invest in communications and information technology companies.  The fund will focus on the U.S., but will also invest in Europe, Asia and Israel.

Elsewhere in the region, Telecom New Zealand has chosen Advent to co-manage a A$120 million technology-focused fund, TMT Ventures.  The closed-end fund will invest in startup and early stage ventures in the technology, media and telecommunications (TMT) sectors of Australia and New Zealand.

"The appointment of Kevin Chan will help insure that TMT Ventures and DMC III maximize their opportunities to invest in fast-growing Asian technology companies," Mr.  Tan said.  Through these and certain other funds, Advent plans to invest more than $100 million over the next three years in growth and technology companies based in Singapore, Hong Kong, China and other Asian countries.
To manage these programs and broaden its telecom and technology expertise in Asia, Advent is building up its technology teams in Singapore and Hong Kong.  "With Mr.  Chan and other members of our team on the ground in the region, we are in a good position to capitalize on attractive technology investment opportunities," Mr.  Tan said.

Advent International has offices in 15 countries and more than $3.5 billion under management.  The firm manages three distinct types of investment funds: global private equity funds, focusing on later-stage investments in Europe, North America and Asia; emerging market private equity funds, making similar investments in developing markets, including Central and Eastern Europe and Latin America; and venture capital funds, targeting early stage technology companies in North America, Europe and now Asia Pacific.  Since its founding in 1984, Advent has financed over 400 companies in diverse industries worldwide.

Ms.  Grace Sek Occasions Corporate and Financial Communications Limited Suite 2501-3, Universal Trade Centre 3-5A Arbuthnot Road, Centra Hong Kong Tel: 852-2801-5333 Fax: 852-2801-5323 Email: [email protected] Mrs.  Pauline Yeo / Mrs.  Paula Lau Advent International / SEAVI 331 North Bridge Road #05-04/06 Odeon Towers Singapore 188720 Tel: 65 339-9090 Fax: 65-339-8247 Email:
[email protected] [email protected] Ms.  Eva Lo Advent International - HK office Room 808 Alexandra House 16-20 Chater Road, Central Hong Kong Tel: 852-2978-9302 Fax:
852-2826-9247 Email: [email protected]

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