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UniCredit Group and NewSmith Capital Partners announce strategic agreement

TJ Lim appointed as Co-Head of Markets at UniCredit Markets & Investment Banking Division


UniCredit Group (UniCredit) and NewSmith Capital Partners LLP (NewSmith) are pleased to announce a strategic agreement. Subject to regulatory approvals, UniCredit will acquire NewSmith Financial Products (NSFP), the Credit Advisory unit of NewSmith, and become an investor in NewSmith funds. UniCredit will also assume a 5% stake in NewSmith Capital Partners (NSCP).

All partners and employees of NSFP will move to the UniCredit Markets & Investment Banking Division (MIB) to be part of the Global Credit Business Line of MIB. TJ Lim, NSFP's Chief Executive Officer, will join the Executive Committee of the MIB and will be appointed Co-Head of Markets with specific responsibility for Fixed Income and Currency, Global Credit and Sales.

UniCredit Deputy CEO, Sergio Ermotti, said: "Over the past five years, NewSmith has developed a robust and successful asset management and advisory platform with outstanding talent. We are convinced that this agreement will create substantial value for the bank's stakeholders."

Edoardo Spezzotti, Head of UniCredit's Markets & Investment Banking Division, added: "TJ Lim and his team are proven leaders in the markets businesses in large organizations and will bring additional wealth of experience to our bank."

NewSmith founding partner Paul Roy said: "We are delighted that UniCredit has become an investor in NewSmith. UniCredit's acquisition of NewSmith Financial Products is a mutually beneficial transaction that will enable us to focus solely on our asset management activities. This will be good for our clients and good for the business as we extend and deepen our range of investment strategies and capabilities."


London, 2nd July, 2008

NewSmith was advised by Greenhill & Co.
For more information please contact:
Claudia Bresgen
UniCredit Markets & Investment Banking
Tel. +49 (0) 89 378 25554
claudia.bresgen@unicreditgroup.de

Paul Roy
NewSmith Capital Partners
Tel. +44 (0) 20 7518 3740


Notes for Editors
About UniCredit Markets & Investment Banking
With total assets of more than €1,000 billion, ranking among the top financial groups in Europe, UniCredit Group serves over 40 million clients at 9,000 branches in 23 countries, with approximately 180,000 employees.
Within the Group, the UniCredit Markets & Investment Banking Division is the competence centre for Global Financial Markets activities and Investment Banking Services. UniCredit Markets & Investment Banking maintains one of largest networks of all investment banks on the European continent and combines placement power with in-depth structuring know-how in the major markets as well as in the fast growing European emerging markets.
About NewSmith Capital Partners
NewSmith Capital Partners LLP is an independent investment management group serving institutional and high net worth clients. Established in 2003, NewSmith seeks to deliver superior risk-adjusted returns to its clients through a range of professionally managed investment strategies, including alternative assets and long only funds. NewSmith is owned by its partners who are based at offices in London, Hong Kong, New York, Singapore and Tokyo. Its principal operating entity, NewSmith Asset Management LLP, is authorised and regulated by the Financial Services Authority.