Committee of Independent Directors in Acquisition of Alea Group Holdings

April 12, 2007

Cleary Gottlieb advised the independent directors of Alea Group Holdings in relation to the proposed acquisition of Alea Group by an entity formed by Fortress Investment Group in a transaction valued at £162 million. The acquisition is expected to be completed in the summer of 2007.

Alea Group is a leading worldwide provider of reinsurance, insurance, financial and alternative risk products. Headquartered in Bermuda, the company is listed in London and is 55% owned by Kolberg Kravis Roberts & Co. and associated investors.