Released on = June 21, 2007, 7:07 am

Press Release Author = Lala C. Ballatan

Industry = Law

Press Release Summary = Blackstone Group LP, a private-equity corporate heavyweight
based in New York City is expected to have an initial public offering (IPO) of its
units starting June 25. However, its investors were cautioned that certain changes
in the tax laws included in a bill to be passed before the Congress might affect
their future earnings.

Press Release Body = Blackstone Group LP, a private-equity corporate heavyweight
based in New York City is expected to have an initial public offering (IPO) of its
units starting June 25. However, its investors were cautioned that certain changes
in the tax laws included in a bill to be passed before the Congress might affect
their future earnings.

Los Angeles, California, June 18, 2007 - According to the corporation, the tax law
bill that proposes changes would oppose the efforts to tax them as a financial
corporation rather than as a business partnership. The company's taxes may double up
in the next five years if the legislation being proposed would be passed by the
Senate.

Economic analysts contemplated that the Chief Executive of Blackstone, Stephen
Schwarzman spent the weekend weighing options if opening the company to the public
may be worth having its advantageous tax arrangements lost. Considering the fact
that one of Blackstone's reasons to hold an IPO is to loosen up its top executive's
investments, partially. Another is to produce new capital to use as an incentive in
keeping and attracting a new roster of management executives.

The Senate's Finance Committee leaders introduced the tax changes bill late on
Thursday and there were speculations that it may disrupt Blackstone's IPO plans.
However, the firm accepted the challenges the new bill would represent.

The Corporate Library's founder, Nell Minow believed that Schwarzman would go on
with the IPO. Some in the industry may still hold off on each of their plans, though
depending on the appreciation of the Blackstone's IPO even after the tax
propositions.

Blackstone would not be able to pass up the chance on tapping into $4 billion of
capital at the very least, that they may make from going on with the IPO. It is the
biggest flotation expected in this year. This is according to Minow and to other
analysts' belief.

The IPO would give a chance for stakeholders to buy into the Blackstone LP and give
them a voting interest of almost 13.6% in the management board. However, it would
not give them direct participation in the properties and companies being managed by
the firm.

The IPO may value the entire company at around $32 billion. Shares are expected to
be priced from $29 to $31. Blackstone expects to produce from $3.87 billion to $4.14
billion from such business engagement.


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