KFN Kkr Financial Holdings Llc

SAN FRANCISCO, Sept. 14 /PRNewswire-FirstCall/ -- KKR Financial LLC ("KFL") today announced the appointment of Andrew J. Sossen as General Counsel of KKR Financial Corp. (NYSE:KFN). Mr. Sossen most recently worked in the New York office of Simpson Thacher & Bartlett LLP in the firm's corporate practice, specializing in the areas of mergers and acquisitions and private equity and joined the firm in 2002. At Simpson Thacher & Bartlett LLP, Mr. Sossen represented both KKR Financial Corp. and KFL since their respective formation in July 2004 as well as KKR Financial Corp.'s 2004 144A equity offering and 2005 initial public offering. Mr. Sossen will also be a member of the KFL distressed investment team and will be involved in KFL investment strategies involving distressed investments and reorganizations. Saturnino S. Fanlo, Co-Founder and Member of KKR Financial LLC, said, "We are delighted to welcome Andrew Sossen, who brings significant corporate, mergers and acquisitions, and private equity experience and expertise. Furthermore, Andrew's historical involvement with KFL and KKR Financial Corp. since their respective formation in 2004 is very beneficial." David A. Netjes, Co-Founder and Member of KKR Financial LLC stated "Andrew's experience will add significant strength to KFL's distressed investment team and further increases KFL's intellectual capital base and will be beneficial as KFL continues to expand the scope and nature of KFL's investment activities." "Andrew is an excellent addition to KFL," commented Scott C. Nuttall, Member of Kohlberg Kravis Roberts & Co. L.P. "His professional experience and previous involvement with KFL and KFN make him well poised to contribute significantly to our team." Mr. Sossen holds a J.D. from the University of Pennsylvania Law School and a B.A. in Diplomatic History from the University of Pennsylvania. KKR Financial LLC KKR Financial LLC ("KFL"), through certain wholly-owned subsidiaries, is the investment manager for KKR Financial Corp., which is externally managed and publicly traded on the New York Stock Exchange under the ticker symbol "KFN", and the KKR Strategic Capital funds, a credit opportunity strategy that includes the KKR Strategic Capital Fund, L.P., the KKR Strategic Capital Overseas Fund, Ltd., and the KKR Strategic Capital Institutional Fund, Ltd. KKR Financial Corp. had assets totaling $16.3 billion as of June 30, 2006, and the KKR Strategic Capital funds have capital commitments totaling $1 billion as of September 12, 2006. KFL is an affiliate of Kohlberg Kravis Roberts & Co. L.P. Contact: Investors, Laurie Poggi of KKR Financial LLC, +1-415-315-3718; or Media, Roanne Kulakoff, +1-212-521-4837, or Joseph Kuo, +1-212-521-4863, both of Kekst and Company, for KKR. DATASOURCE: KKR Financial LLC CONTACT: Investors, Laurie Poggi of KKR Financial LLC, +1-415-315-3718; or Media, Roanne Kulakoff, +1-212-521-4837, or Joseph Kuo, +1-212-521-4863, both of Kekst and Company, for KKR Web site: http://www.kkrfinancial.com/

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