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William Blair & Company Reorganizing Private Capital Group

CHICAGO, September 1, 2004 - William Blair & Company has announced that it is reforming its private equity group, William Blair Capital Partners.

William Blair Capital Partners (WBCP) has raised more than $1 billion in private capital since 1982, most recently with Fund VII, which raised $403 million in 2001, about 70% of which has been deployed. WBCP has targeted opportunities across the full spectrum of private equity, from early-stage venture capital and growth capital to later-stage buyouts, recapitalizations, and industry consolidations. Equity investments range from $5 million to $35 million and target selected industries, including business and consumer services, health care, and technology. The group has invested more than $1 billion in 160-plus companies since 1982.

“Investing in private equity opportunities for our high-net-worth and institutional clients is an important investment service that our firm provides,” says John Ettelson, president and CEO of William Blair & Company. “We are planning to reorganize the WBCP team and raise William Blair Capital Partners Fund VIII in the near future.”

William Blair & Company has joint management oversight of the existing funds (Funds III, IV, V, VI, and VII) with the WBCP group. William Blair & Company principals and employees have more than $81 million of committed capital in these funds, thus are very much aligned with their client investors. In addition, Gregg Newmark and Ellen Carnahan, who were instrumental in capital raising, investing, and managing the existing funds, will remain principals at William Blair & Company and managing directors of William Blair Capital Partners, and they will provide the firm assistance for the existing funds. Mr. Newmark and Ms. Carnahan will maintain their existing portfolio company relationships and continue to serve on various company boards.

William Blair & Company, L.L.C. is a Chicago-based investment firm offering investment banking, asset management, equity research, institutional and private brokerage, and private capital to individual, institutional, and issuing clients. Since 1935, we have been committed to helping clients achieve their financial objectives. As an independent, employee-owned firm, our philosophy is to serve our clients' interests first and foremost. We place a high value on the enduring nature of our client relationships, the quality of our products and services, and the continuity and integrity of our people. William Blair & Company has offices in Chicago, Hartford, London, San Francisco, Tokyo, Vaduz, and Zurich. For more information, please visit www.williamblair.com.


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