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Olympus Capital Announces Agreement to Sell Arysta LifeScience Corporation

TOKYO, Oct. 22 /Xinhua-PRNewswire/ -- Olympus Capital Holdings Asia and its co-investors today announced that they have reached an agreement to sell Arysta LifeScience Corporation, the world's largest privately held crop- protection and life-science company, for an enterprise value of approximately JPY 250 billion (US$2.2 billion). The sale will culminate a five-year investment for Olympus Capital, a leading middle market private equity firm with investment teams in Japan, Greater China, India and South Korea. During those five years, Arysta significantly expanded its global crop-protection business through internal growth and acquisitions, achieving record revenues of JPY 124 billion in 2006.

The transaction will be the largest buyout in Japan this year. Industrial Equity Investments Limited (IEIL), an international investment company located in the Republic of Ireland owned by The Permira Funds, a leading international private equity firm, will purchase 100% of Arysta from the Olympus Capital consortium, which includes a number of Olympus Capital's private equity funds as well as co-investors.

Dr. Christopher Richards, Arysta LifeScience's President and CEO, said, "Olympus Capital has consistently supported Arysta's growth plan both strategically and financially. We are confident that we will have IEIL's ongoing support for this strategy and we fully expect to continue delivering excellent service and value for our customers and business partners while providing exciting opportunities for our employees over the coming years."

Olympus Capital, an independent firm which has been in the Asian private equity business for over ten years, completed an initial investment in Arysta in 2002, partnering with then existing owners Tomen Corporation (now owned by Toyota Tsusho) and Nichimen Corporation (now part of Sojitz Corporation) who subsequently sold their stakes to the Olympus Group. During this period, Olympus Capital helped Arysta acquire over JPY 50 billion of distribution companies and product lines around the world to further bolster the company's global coverage and product portfolio.

"As part of our partnership with Tomen and Nichimen to catalyze change in Arysta, we had the opportunity to bring in a number of world-class executives to the company, both in Japan and to the global operations," said David Shen, Managing Director of Olympus Capital in Tokyo and an Arysta Board Member. "This management team has done a superb job of executing the business plan, resulting in more than doubling of profitability. Together with management, we have seen Arysta successfully develop into a leading global agrochemical company and we are very grateful for the tremendous effort of the Arysta management team and employees throughout its global operations."

Mr. Shen further added: "This investment illustrates Olympus Capital's commitment in Japan and throughout the region to working closely with management and our strategic partners to grow portfolio companies both organically and through acquisitions, and to increase profitability based on jointly-agreed business plans."

Completion of the transaction, which is subject to regulatory review and approvals, is anticipated to occur in the first quarter of 2008.

About Olympus Capital

Olympus Capital Holdings Asia is a leading middle market private equity firm specializing in partnering with Asian shareholders and management teams to expand their businesses regionally and globally. The firm's investment and operating professionals are located in offices in Tokyo, Delhi, Hong Kong, Seoul, Shanghai and New York. Since its establishment in 1997, Olympus Capital has invested over US$1.2 billion on behalf of funds and co-investors in more than 25 portfolio companies throughout Asia.

Olympus Capital, one of the early entrants to the Japan private equity market, completed its first Japanese investments in partnership with a major Japanese bank and a trading company in 2000, and established its Tokyo office soon thereafter in 2001.

Target industry sectors across the region include business services, agribusiness, financial services and environmental services. Recent investments include Quatrro BPO Solutions (India) and Kyoto Kimono Yuzen (Japan).

More information on Olympus Capital is available at: .

About Arysta LifeScience Corporation

Headquartered in Tokyo, Japan, Arysta LifeScience is the world's largest privately held crop protection and life science company with 2006 revenues of JPY 124.1 billion (US$1 billion). An entrepreneurial provider of crop protection and life science products in more than 125 countries worldwide, Arysta LifeScience specializes in marketing and distribution of respected crop protection brands and life science products in harmony with the needs of global partners. More information on the company is available at: .

For Further Information, Please Contact:

Olympus Capital

Harushige Saito/ Toru Tatsumi

Fleishman-Hillard Japan

Tel: +813-3524-4639/4631


Jean Loh

Fleishman-Hillard Hong Kong

Tel: +852-2530-0228


Arysta LifeScience Corporation

Linda Frerichs

Tel: +1-919-678-4948


SOURCE Olympus Capital Holdings Asia
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