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July 18, 2001

New Mountain Capital Completes Fundraising

NEW YORK, NY, July 18, 2001 – New Mountain Capital, LLC (“New Mountain”) announced today that it has completed fundraising for its private equity partnership, New Mountain Partners L.P. (the “Fund”). The Fund was substantially oversubscribed, and closed on July 5, 2001 with $770 million of total commitments. The Fund had originally targeted $600 million of commitments last year.

“We are pleased that New Mountain’s Fund was heavily oversubscribed, and particularly pleased with the blue chip quality of our investor base,” said Steven B. Klinsky, founder and CEO of New Mountain Capital, LLC. “We thank our limited partners for their support, and we hope to reward their confidence with exceptional returns for years to come.”

About New Mountain

New Mountain Capital, LLC is the sponsor of New Mountain Partners, L.P., a fund which seeks significant long-term capital appreciation through direct private equity and equity-related investments. The Fund seeks chiefly to acquire the highest quality, middle market companies (enterprise values of $100-$500 million) in key growth industries, and then to work closely with management to build value. The Fund reviews opportunities in all industries, but begins with particular competitive advantages in the fields of education, communications, health care, business services and power.