White & Case Advising on Five Deals Worth More Than $27 Billion

Amidst a Challenging Market for Debt-financed Acquisitions, White & Case is Acting on Big- ticket Deals in the US, Europe and Asia

New York / London / Hong Kong / Frankfurt / Moscow August 7, 2008 ... Despite the continued slowdown in the debt finance markets, global law firm White & Case LLP is advising on five deals with a combined value of more than $27 billion. These deals span the US, Europe and Asia and include several of the largest transactions to date in their respective regions and countries.

"Although the volume of debt-financed deals has dropped considerably from previous years, White & Case continues to advise on some of the largest transactions in the current market," said Eric Berg, partner and head of White & Case's Global Bank Finance Practice. "White & Case has a distinctive business model that gives us a competitive edge in a global economy. Our bank finance practice delivers a seamless global offering to our clients, with critical mass in the principal markets of the US and Europe and a strong and growing offering in Asia. This worldwide platform enables us to offer clients the support they need to get these deals done."

Details of the five deals are as follows:

• Representing Citigroup Inc., Merrill Lynch and Morgan Stanley in connection with the provision of debt financing for Dow Chemical Company's $18.8 billion acquisition of Rohm & Haas.
  
• Representing Deutsche Bank, Credit Suisse and JPMorgan in connection with the provision of debt facilities to German health-care group Fresenius SE, which is seeking to acquire APP Pharmaceuticals Inc., a US manufacturer of intravenous drugs, for $3.7 billion.
  
• Representing Goldman Sachs in connection with the provision of senior leveraged financing to a consortium of three sponsors — Central European Distribution Corporation, Lion Capital LLP and Goldman Sachs — for the purchase of the Russian Alcohol Group, the largest vodka producer in Russia and the second foreign sponsor-driven LBO in Russia following last year's Nidan Soki deal, which White & Case also acted on.
  
• Representing the mandated lead arrangers in connection with the provision of debt financing to GS Capital Partners and French buyout firm PAI Partners in their €2 billion acquisition of Xella International, the building materials unit of private German conglomerate Franz Haniel & Cie GmbH.
  
• Representing Deutsche Bank, GE Commercial Finance, ING Bank, Morgan Stanley and DBS as mandated lead arrangers in connection with the provision of debt financing to Kohlberg Kravis Roberts to acquire Unisteel Technology Limited, a Singapore-listed maker of disk-drive components, for approximately $578 million.

White & Case's involvement in these deals underscores an analysis of Mergermarket's 2007 deal data, which positioned the Firm as the No. 1 global legal adviser to debt providers on leveraged buyouts, based on deal volume. The Firm secured pole positions across the board, achieving first-place rankings in the Americas, Europe and Asia (excluding Australasia). The Firm was also ranked the global leader in the same category through 2005-2007, based on deal volume, advising on a third more deals than its nearest competitor, and second globally in terms of deal value.

White & Case's Global Banking & Finance Practice was awarded a Tier One ranking in the latest edition of Chambers Global. Comprising more than 300 lawyers worldwide, the practice advises on the most complex cross-border financings and is one of the few law firms with an in-depth network of global offices with the ability to offer US, English and local law advice on senior and high-yield acquisition financings in all major international financial centers.

About White & Case
White & Case LLP is a leading global law firm with more than 2,300 lawyers in 37 offices in 25 countries. Our clients value the breadth and depth of our US, English and local law capabilities and rely on us for their complex cross-border commercial and financial transactions and for international arbitration and litigation. Whether in established or emerging markets, the hallmark of White & Case is our complete dedication to the business priorities and legal needs of our clients.

Contact:
Sara McIlroy
Media Relations Mgr EMEA, White & Case
44 (0) 207 532 2946


Reilly Starr
Media Relations Mgr Americas, White & Case
1 212 819 8315


Jo Hamilton
Media Relations Mgr Asia-Pacific, White & Case
852 2822 0480