Will Lead Firm's Private Equity Business

    NEW YORK, Sept. 20 /PRNewswire/ -- Centerview Partners announced that
James M. Kilts, Vice Chairman of the Board-Gillette, The Procter & Gamble
Company (NYSE: PG) and former Chairman, Chief Executive Officer and
President of The Gillette Company, will join the firm as a founding partner
to help build its private equity effort.
    Centerview Partners will initially focus its investment activities in
consumer-oriented companies, capitalizing on the firm's network and
expertise in the sector and Mr. Kilts' 35-year career in consumer products.
It will look for investments with primary operations in the U.S. where it
can bring strategic and operational improvements and tap Mr. Kilts'
experience turning around world-class branded companies such as Gillette
and Nabisco.
    "My career has been focused on building brands, and this is an
opportunity to build brands in various sectors," said Mr. Kilts.
"Operational improvements will be our key focus. Centerview Partners will
have operational and financial expertise to build companies, brands and
management teams."
    Centerview Partners, based in New York, is a recently launched firm
specializing in independent advice and other client services founded by
Stephen Crawford, formerly Co-President, Morgan Stanley, Blair Effron,
formerly Vice Chairman, UBS, and Robert Pruzan, formerly Chief Executive
Officer of Dresdner Kleinwort Wasserstein North America and President of
Wasserstein Perella & Co. The new firm will capitalize on the experience of
its principals and will provide senior-level counsel to both domestic and
international clients. Members of the firm have experience in a range of
industries including the consumer products, financial services, food and
beverage, general industrial and retail sectors.
    "I'm excited to work with the Centerview Partners team," said Mr.
Kilts. "My partners have the three qualities I look for: intelligence,
energy and integrity."
    Mr. Kilts' primary focus will be the private equity fund, but will
engage in select strategic advisory services for the firm's clients.
    "We are thrilled to have someone of Jim's caliber join us," the three
partners said in a statement. "To have one of the most successful CEOs of
the last 25 years as a partner will bring a unique strategic and
operational perspective to our firm."
    About James M. Kilts
    James M. Kilts is a founding partner of Centerview Partners. Prior to
that, he was Vice Chairman of the Board-Gillette, The Procter & Gamble
Company. Mr. Kilts was formerly Chairman of the Board, Chief Executive
Officer and President of The Gillette Company before the company's merger
with P&G in October 2005. He was elected to these positions in January
2001, February 2001, and November 2003, respectively.
    Mr. Kilts had served since January 1998 as President and Chief
Executive Officer of Nabisco, which was acquired in December 2000 by Philip
Morris Companies.
    Before joining Nabisco, Mr. Kilts headed the $27 billion Worldwide Food
group of Philip Morris, where he was an Executive Vice President from 1994
to 1997. In that role, he was responsible for integrating Kraft and General
Foods worldwide and for shaping the group's domestic and international
strategy and plans.
    Prior to that position, Mr. Kilts served as President of Kraft USA and
Oscar Mayer and oversaw the consolidation of these businesses into one
company. He earlier had served as Senior Vice President of strategy and
development; President of Kraft Limited in Canada; and Senior Vice
President of Kraft International. Mr Kilts began his career with General
Foods Corporation in 1970.
    A graduate of Knox College, Galesburg, Illinois, Mr. Kilts earned a
Master of Business Administration degree from the University of Chicago.
    Mr. Kilts is a member of the Board of Directors of Met Life Inc. and
The New York Times. He also is a member of Citigroup's International
Advisory Board. He serves on the Board of Trustees of Knox College, the
American Institute for Contemporary German Studies, and the University of
Chicago. He is Chairman of the Advisory Council of the University of
Chicago Graduate School of Business.
    Contact: Steven Lipin, Brunswick Group, (212-333-3810)

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