SAN FRANCISCO, Feb. 27 /PRNewswire-FirstCall/ -- KKR Strategic Capital Fund (the "Fund"), an investment vehicle being sponsored by KKR Financial LLC, announced today its intention to commence operations subsequent to June 30, 2006. It is anticipated that the Fund will primarily focus on stressed and distressed opportunities and market dislocation investments. The Fund will be managed by KKR Financial LLC, which, through KKR Financial Advisors LLC, also manages KKR Financial Corp, a real estate investment trust (REIT) that is publicly traded on the New York Stock Exchange under the ticker symbol "KFN." It is anticipated that all of KKR Strategic Capital Fund's executive officers will be employees and/or officers of KKR Financial LLC. CONTACT: Investors Media Laurie Poggi Roanne Kulakoff/Joseph Kuo KKR Financial LLC Kekst and Company 415-315-3718 212-521-4837/4863 First Call Analyst: FCMN Contact: laurie.poggi@kkr.com 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 Financial LLC Web site: http://www.kkrfinancial.com/

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