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April 23, 2008

Bjarni Ármannsson and Frank O. Reite Join Paine & Partners as Operating Directors


Addition of Ármannsson and Reite Creates Strong Nordic and European Team

San Francisco and New York

Paine & Partners, LLC, the San Francisco and New York-based private equity firm, today announced that Bjarni Ármannsson (40), of Iceland, and Frank O. Reite (38), of Norway, have joined Paine & Partners as Operating Directors. Mr. Ármannsson and Mr. Reite will focus on opportunities in the Nordic region, with an emphasis on the seafood, energy and financial services industries.

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