KFN Kkr Financial Holdings Llc

SAN FRANCISCO, April 2, 2008 /PRNewswire-FirstCall/ -- KKR Financial Holdings LLC (NYSE:KFN) (the "Company") today announced that a public offering of 30,000,000 common shares has been priced at $11.85 per common share and is expected to close on April 8, 2008. Gross proceeds from the offering will be approximately $355.5 million. Net proceeds from the offering will be used for general corporate purposes. General corporate purposes may include repayment of debt, acquisitions, additions to working capital, capital expenditures and investments in the Company's subsidiaries. Net proceeds may be temporarily invested prior to deployment for their intended purposes. All of the common shares are being sold by the Company. The underwriters for the offering are Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc., Morgan Stanley & Co. Incorporated, Banc of America Securities LLC, KKR Capital Markets LLC, JMP Securities LLC, Sandler O'Neill & Partners, L.P. and Friedman, Billings, Ramsey & Co., Inc. A registration statement on Form S-3 relating to these common shares was filed with the Securities and Exchange Commission ("SEC") and became effective upon filing. The prospectus supplement and accompanying prospectus relating to the offering of common shares will be filed with the SEC. When available, copies of the prospectus supplement and accompanying prospectus may be obtained from: Merrill Lynch, Pierce, Fenner & Smith Incorporated, 250 Vesey Street, New York, NY 10080 (telephone: (212) 499-1000), Citigroup Global Markets Inc., Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220 (telephone: (718) 765-6732; fax: (718) 765-6734), Morgan Stanley & Co. Incorporated, 180 Varick Street 2/F, New York, NY 10014 (telephone: (866) 718-1649) or by e-mail to and Banc of America Securities LLC, Capital Markets Operations, 100 West 33rd Street, 3rd Floor, New York, NY 10001 or by e-mail to . This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This press release contains statements that do not directly or exclusively relate to historical facts. These types of statements are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All forward-looking statements rely on assumptions and are subject to risks, uncertainties and other factors that could cause the Company's actual results to differ materially from expectations. You should read and interpret any forward-looking statements together with the risk factors contained under the caption "Risk Factors" in the prospectus supplement for the offering to which this release relates and the Company's other SEC filings. Any forward- looking statement speaks only as of the date on which that statement is made. The Company will not update any forward-looking statement to reflect events or circumstances that occur after the date on which the statement is made. Investor Relations: Laurie L. Poggi KKR Financial (415)315-3718 Media: Roanne Kulakoff/Joseph Kuo Kekst and Company (212)521-4837/4863 DATASOURCE: KKR Financial Holdings LLC CONTACT: Investor Relations, Laurie L. Poggi of KKR Financial, +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 Financial Holdings LLC Web site: http://www.kkrkfn.com/

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