Andrew Tisdale Joins Prov Equity

Andrew Tisdale has joined Providence Equity Partners as a London-based managing director. He has spent the past 18 years with Morgan Stanley, most recently as co-global head of the firm's media and communications group, and as a management committee member for investment banking.

PRESS RELEASE

Providence Equity Partners Inc., the leading private equity investment firm specializing in media, entertainment, communications and information companies, announced today that Andrew Tisdale has joined the firm as a Managing Director in the London office. He will be involved with existing portfolio companies and in developing new investments for the firm in Europe and internationally.

Mr. Tisdale, 46, joins Providence from Morgan Stanley (NYSE: MS), where he was Co-Global Head of the Media and Communications Group and a member of Morgan Stanley's Management Committee for Investment Banking. He joined Morgan Stanley in 1990 and served in a variety of senior positions advising on media and communications transactions in Europe, the Americas, the Middle East, Asia and Africa.

“Andrew has built an exemplary record over the last 18 years working closely with the management teams of leading global media and communications companies to create value,” said Jonathan Nelson, Chief Executive Officer of Providence. “We are delighted to welcome Andrew to the Providence team and look forward to his contributions as we continue to pursue new investment opportunities and work with our portfolio companies.”

“We have had the pleasure of working with Andrew on numerous investments in North America and Europe over the years and have appreciated first hand his experience and in-depth knowledge of the media and communications sectors,” said John Hahn, a Managing Director who leads the firm's investment activities in Europe. “He brings a wealth of expertise and an exceptional network of relationships across the industry. He will be a valuable new member of our team.”

Prior to being named Co-Global Head of the Media and Communications Group in 2006, Mr. Tisdale was Co-Head of the Media and Communications Group for Europe, the Middle East and Africa and previously served as Co-Head of the same group for North and South America. From 1996 to 1999, Mr. Tisdale served as head of Morgan Stanley's activities in Brazil and previously was based in New York.

“I enjoyed the engaging and rewarding experience I had at Morgan Stanley working with many fine professionals,” said Mr. Tisdale. “I've also enjoyed working with a wide variety of media and communications companies, and given Providence's leadership in these sectors and their commitment to building long-term value for their portfolio companies, this is clearly a great fit and the right next step in my career. I have seen the professionals at Providence in action both as clients and on the other side of transactions, and I have great respect for their intelligent and thoughtful approach to their work. I look forward to working with the entire team to build further on the firm's market leadership.”

In recent years at Morgan Stanley, Mr. Tisdale has worked on media and communication-related transactions for such clients as Altimo, Apple Computer, Bertelsmann, Cablevision, Central European Media, Comcast, Cox Communications, Deutsche Telekom, Fininvest, the Kingdom of Sweden, Liberty Global, MBC, Metro-Goldwyn-Mayer, RTL, the Republic of South Africa, Vivendi, and Yandex. He has advised on such recent transactions as the sale of Wataniya Telecom by KIPCO to Qatar Telecom, the sale of ProSieben.Sat1 by German Media Partners to KKR and Permira, the IPO of CTC Media, the offer by Bertelsmann to the minority shareholders of RTL, the sale of Sportfive to Lagardere, and the acquisition by Vivendi of BMG Music Publishing.

Mr. Tisdale earned a B.A. degree in French and Economics from Vanderbilt University in 1984. He earned an M.B.A. from the University of North Carolina in 1990.

About Providence Equity Partners Inc.

Providence Equity Partners is the leading global private equity firm specializing in equity investments in media, entertainment, communications and information companies around the world. The principals of Providence manage funds with approximately $21 billion in equity commitments and have invested in more than 100 companies operating in over 20 countries since the firm's inception in 1989. Significant investments include Bresnan Broadband Holdings, Casema, Com Hem, Digiturk, Education Management Corporation, eircom, Freedom Communications, Hulu, Idea Cellular, Kabel Deutschland, Metro-Goldwyn-Mayer, NexTag, Ono, Open Solutions, PanAmSat, ProSiebenSat.1, Recoletos, TDC, Univision, VoiceStream Wireless, Warner Music Group, Western Wireless and Yankees Entertainment Sports Network. Providence is headquartered in Providence, RI (USA) and has offices in Hong Kong, London, Los Angeles, New Delhi and New York. Visit www.provequity.com for more information.