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Apax Partners' Funds and Texas Pacific Group to acquire Q-Telecom in a EUR350 million transaction

London, UK/Milan, Italy, 28 October 2005 – An acquisition company owned by private equity funds advised by Texas Pacific Group (“TPG”) and Apax Partners (“Apax”) signed a conditional acquisition agreement today with Info-Quest S.A. (“Info-Quest”) for the acquisition of its telecommunication business operated under the trademark Q-Telecom (the “Business”), the fourth Greek wireless operator.

The acquisition of the 100% stake of the Company that will own the Business, will be for a cash consideration of €325 million and the assumption of existing indebtedness of €25 million. The acquisition agreement is conditional upon, among other things, obtaining approval from the relevant regulatory and competition authorities.

Philippe Costeletos led the deal for Texas Pacific Group. Commenting on the acquisition, Philippe Costeletos, Partner of Texas Pacific Group, said: “We are delighted to have the opportunity to work with this excellent management team led by Mr. Prigipakis. We remain committed to providing management with the resources necessary to invest in infrastructure, provide innovative products and services to customers, and continue to grow the business. We believe this acquisition of a cellular-phone operator in Greece represents an exciting opportunity and reflects the interest of TPG of investing in Greek companies.'

Giancarlo Aliberti, Managing Director, Apax Partners, Italy, who led the deal for Apax Partners, said: “Apax Partners is pleased to back Mr. Prigipakis and his high quality team at this exciting time in Q-Telecom’s development. This is a great opportunity for Apax Partners to use its expertise gained from years of successful investment in the telecoms industry to work with Q-Telecom and help the company realise its growth potential. We look forward to investing in Q-Telecom’s future and building on its strengths. We are also excited about increasing Apax Partners’ Funds investments in the promising Greek market. ”

About Q-Telecom
Q-Telecom is currently one of the four providers of GSM mobile telecommunications services in Greece. Q-Telecom’s customer base is primarily pre-paid, being the leading operator among the young Greek population.

At December 31, 2004, Q-Telecom had 981,744 customers.

About Apax Partners
Apax Partners is one of the world's leading private equity investment groups, operating across the United States, Europe and Israel. Apax Partners has raised or advised approximately $20 billion around the world. With more than 30 years of direct investing experience, Apax Partners’ Funds provide long-term equity financing to build and strengthen world-class companies. It pursues a multi-stage equity investment strategy, investing in late venture, growth capital and buyouts.

Apax Partners’ Funds invest in companies across its global sectors of Tech & Telecoms, Retail and Consumer, Media, Healthcare and Financial & Business services. Apax Partners' Funds investments include TIM Hellas, Inmarsat, Intelsat, Audible, Dialog Semiconductor, Frontier Silicon, Jamdat, Kabel Deutschland, Sonim Technologies and Yell. For more information visit:

About Texas Pacific Group
Texas Pacific Group (TPG) is a leading global private equity firm. TPG manages over $15 billion in committed equity capital, and in the course of its history, has completed more than 65 transactions. TPG recently raised TPG Partners IV LP, a $5.8 billion private equity fund. TPG was one of the first major US-based private equity firms to establish a European business and over the past 24 months TPG has invested c. $2 billion of equity in transactions with an aggregate enterprise value of $15 billion, including TIM Hellas, Mobilcom, Debenhams, Scottish & Newcastle Retail (Pubs), Grohe, British Vita, Isola (from Rutgers/RAG) and Eutelsat. TPG’s European investments also include Ducati, Findexa, Gem Plus and Spirit Group.

TPG holds investments in the technology and telecommunications s

Publisher Contact Information:

Apax Partners
+44 (0)20 7872 6476

Company profile of Apax Partners
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