John Joyce to Join Silver Lake Partners as a Managing Director; Head of IBM Global Services Business Joins Premiere Technology Private Equity Firm

Business Wire, July 19, 2005

NEW YORK & MENLO PARK, Calif. -- Silver Lake Partners, the leading private equity firm focused exclusively on large-scale investing in mature technology companies, announced today that John R. Joyce, formerly Senior Vice President of IBM Corporation and Group Executive of IBM Global Services, is joining Silver Lake as a Managing Director.

Joyce will be based in Silver Lake's New York office and will have a full range of investment responsibilities. Working closely with founders Jim Davidson, Glenn Hutchins, Dave Roux and the rest of the firm, which is located in Menlo Park and New York, Joyce will serve on the investment committee and participate in all Silver Lake activities including sourcing of potential deals, making new investments, overseeing portfolio companies and recruiting.

Joyce, 51, said, "Silver Lake Partners is the best firm in the field and I am delighted to have this unique opportunity to join them in identifying, making and managing large-scale technology investments. IBM is a great company, but the lure of new and different challenges and opportunities at Silver Lake is simply too great to pass up. After 30 years of working in a leading public company, I am looking forward to being part of Silver Lake and contributing to its continuing track record of success."

Glenn Hutchins said, "John Joyce's experience is a perfect fit for Silver Lake. His insights about how to operate with best practices in a complex global environment will bring tremendous value to our portfolio companies, and the sophisticated understanding of finance and M&A activities he gained as a chief financial officer will be a great asset in all of our work. In addition, having run IBM Asia, John will add significantly to the development of our Asia strategy and our abilities to invest intelligently in that region. He brings a complete and powerful set of skills to Silver Lake, and we couldn't be more pleased to welcome him as our partner."

Joyce joined IBM in 1975, and was most recently Senior Vice President and Group Executive of the IBM Global Services (IGS) division, the world's largest information technology services and consulting provider with $46.5 billion in 2004 revenues. IGS has some 190,000 employees in over 160 countries helping clients integrate information technology with business value.

From 1999 to 2004, Joyce was IBM's Chief Financial Officer, during which time he played a role in the sale of IBM's personal computer business to Lenovo, marking one of the first major acquisitions of a U.S. company by a Chinese company, as well as in IBM's acquisition of the global business consulting and technology services practice of PricewaterhouseCoopers. Joyce also managed IBM Global Financing.

Prior to becoming CFO in 1999, Joyce was President, IBM Asia Pacific, responsible for providing business direction and strategy for IBM's 19 country operations across the Asia/Pacific region, including China and India. He also served as Vice President and Controller for IBM's global operations, and was part of the team responsible for the successful reengineering of IBM in the mid-1990s.

Joyce is a member of the Bertelsmann AG Supervisory Board and the Fairfield University Board of Trustees, and chairman of The Council for the United States and Italy.

About Silver Lake Partners

Silver Lake Partners is the leading private equity firm focused exclusively on large-scale investing in technology and related growth industries. Silver Lake is currently making investments from its $3.6 billion second fund. The firm is also managing investments it previously made from its $2.3 billion first fund raised in 1999. Silver Lake seeks to achieve superior returns by investing with the strategic insight of an experienced industry participant, the operating skill of a world-class manager, and the financial expertise of a disciplined private equity investor. Silver Lake's mission is to function as a value-added partner to the management teams of the world's leading technology franchises.

Silver Lake recently announced the $11.3 billion acquisition of SunGard Data Systems, expected to close later this year, in conjunction with several consortium partners. The firm also recently announced a strategic investment in The Nasdaq Stock Market and an agreement to acquire Instinet's institutional brokerage business. Silver Lake's current portfolio includes investments in technology industry leaders such as Ameritrade, Business Objects, Flextronics, Gartner, Nasdaq, Network General, Seagate Technology, Thomson and UGS. For more information: www.silverlake.com.