December 4^th, 2007
Global Leisure Partners LLP Receives Equity Investment

Over the last 3 years, GLP has originated the largest private equity transaction in each of the three largest leisure markets - the US, Europe and Asia.

• Europe - Gala Coral Group - In 2005 GLP advised Permira on recapitalising Gala, the UK casino and bingo operator, and then advised Gala on the creation of Gala Coral through the acquisition of Coral Eurobet, one of the largest European terrestrial and on line sports betting operations. The combined group is the largest leisure LBO in Europe (US$8 Billion). GLP co invested alongside Candover, Cinven and Permira in the buyout.
• US - Harrah's Entertainment/Apollo & TPG - GLP is advising Apollo and co-investing in the privatisation of Harrah's, the largest casino operator globally. At a value of US$30 Billion, this transaction is the largest leisure LBO in history.
• Asia - Galaxy Entertainment Group/ Permira - GLP is advising Permira on its US$ 840 million acquisition of a 20% strategic stake in Galaxy, one of the three primary casino license holders in Macau, the largest and most rapidly growing gaming market in the world. This transaction is the largest gaming PE deal in Asia, the largest PE investment into a HK company and one of the largest PE deals in greater China.

"The investment by Goldman Sachs and Oaktree marks the beginning of the next phase of growth for GLP. GLP will now have the capital and resources to significantly expand its existing platform, creating a truly world class global firm specialising in the leisure sector, which we believe offers some of the most compelling opportunities in the world today given the global demographic and consumer spending trends."

"This investment will accelerate our ability to invest in each of the sectors in which we operate. In particular we are excited to have the capital available to increase our ability to act as principals in partnership with our Investors, our private equity clients and partners, and the executives of the companies that we back."

Notes to editors:

• GLP is a leading provider of specialist advisory and principal investment services to the global leisure industry. GLP sources, structures and executes private equity and mezzanine opportunities in the gaming, lodging and leisure industries on a global basis for private equity clients, as well as originating and executing advisory transactions for corporate clients. GLP's primary focus is on the gaming, lodging and leisure services sectors, but also has significant expertise in consumer/retail products and services, and in real estate. GLP acts as a co-investor for select private equity opportunities alongside its corporate and private equity clients, providing its private equity clients with access to proprietary deal flow and co- investment opportunities.
• Goldman Sachs is global investment banking, securities and investment management firm that provides a wide range of services to a substantial and diversified client base that includes corporations, institutional investors, governments, non-profit organisations and high-net-worth individuals. Headquartered in New York, Goldman Sachs maintains significant offices in London, Frankfurt, Tokyo, Hong Kong and other financial centres around the world.
• Formed in April 1995, Oaktree is an independent investment management firm with over $51 billion committed to its management. Oaktree's principals have focused on less efficient and alternative markets for almost 30 years. Oaktree emphasises an opportunistic, value-oriented and risk-controlled approach to investment niches in private equity (including power infrastructure), distressed debt, high yield bonds, convertible securities, real estate, emerging markets securities, mezzanine financing and Japanese equity securities. Oaktree is comprised of nine principals and over 435 staff members in Los Angeles (headquarters), New York, Stamford (Connecticut), Frankfurt, London, Luxembourg, Beijing, Hong Kong, Seoul, Shanghai, Singapore and Tokyo.