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6/13/2007 Avista Capital Partners Raises $2.0 Billion Inaugural Fund

New York, NY, June 13, 2007 -- Avista Capital Partners, a leading middle market focused private equity firm, announced today that it has completed the final closing of its first private equity fund, Avista Capital Partners, L.P. (the "Fund"). The Fund was substantially oversubscribed, and closed with total commitments of $2.0 billion. The Fund had originally targeted commitments of $1.5 billion.

Approximately 60 institutional investors are participating in the Fund, including public and corporate pension funds, financial institutions, endowments and foundations, as well as many individuals and family offices. The general partners of Avista are collectively the largest investor in the Fund with a commitment of $161 million. Merrill Lynch & Co. served as placement agent for the Fund.

Thompson Dean, Co-Managing Partner and Chief Executive Officer of Avista, said, "We are very pleased with the high level of interest in our first independent fund. The total commitments to the Fund exceeded our expectations, and we are thrilled with the quality and diversity of our investor base. We look forward to continuing to apply our proven investment strategy of combining investment professionals with industry experts to source, evaluate and execute attractive investments in our target sectors, as well as to add value to our portfolio companies."

Avista is primarily focused on three industry sectors in which its professionals have substantial expertise: Energy, Healthcare, and Media. Within these sectors, Avista makes controlling or influential minority investments, primarily in U.S.-based companies, in connection with various transaction structures, including leveraged buyouts, build-ups and growth financings.

Since its initial closing in the Spring of 2006, Avista has invested or committed approximately $1.1 billion (55% of the Fund commitments) in 14 companies. Representative investments to date include: BioReliance Corporation, Geokinetics Inc., Laramie Energy II LLC, Nycomed A/S, The Star Tribune Company and WideOpenWest.

Steven Webster, Co-Managing Partner and President of Avista, said, "We are excited about the investments we have made in the last year and the value that has been created in a relatively short period of time. We are pleased with the execution of our focused investment strategy and believe the Fund will deliver differentiated returns for our investors."

Avista Capital Partners was formed in 2005 by seven former Partners who worked together at DLJ Merchant Banking Partners ("DLJMB"). In addition to Mr. Dean, who served as the Managing Partner and Global Head of DLJMB and Mr. Webster, who was the Chairman of DLJMB Global Energy Partners, Avista Capital's Partners include: James Finkelstein, the former Chairman of DLJMB Global Media Partners and Larry Pickering, the former Chairman of DLJMB Global Healthcare Partners as well as David Burgstahler, David Durkin and OhSang Kwon, all former Partners at DLJMB. In addition, Robert Cabes was named a Partner of Avista in 2006 and previously worked as a Principal for DLJMB. In total, Avista has 28 employees.

About Avista Capital Partners


Avista Capital Partners is a leading private equity firm with offices in New York, NY and Houston, TX. Founded in 2005, Avista's strategy is to make controlling or influential minority investments primarily in growth-oriented media, healthcare and energy companies. Through its team of seasoned investment professionals and industry experts, Avista seeks to partner with exceptional management teams to invest in and add value to well-positioned businesses.

Contact

Diana Postemsky, Kekst and Company, 212-521-4805





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