KKR Private Equity Investors Makes $282.3 Million Investment in Philips Semiconductors Business

KKR Private Equity Investors, L.P. (Amsterdam: KPE) announced that
it has invested approximately $282.3 million in connection with the
publicly announced transaction to acquire, by an investor group that
includes Kohlberg Kravis Roberts & Co. (KKR), a controlling stake in
the semiconductors business of Royal Philips Electronics, formerly
known as Philips Semiconductors International B.V. The semiconductors
business has been renamed NXP B.V.

Royal Philips Electronics recently announced the closing of this
transaction, pursuant to which a consortium that includes KKR, Silver
Lake Partners, Bain Capital, Apax Partners and AlpInvest Partners NV
acquired an 80.1% stake in NXP B.V. and Royal Philips Electronics
retained a 19.9% stake in NXP B.V.

The $282.3 million total investment was comprised of a $250.0
million co-investment and $32.3 million of capital contributions to
KKR-sponsored private equity funds. The amount invested by KPE in NXP
B.V. represents approximately 6.0% of KPE's net asset value as of
August 30, 2006.

About KPE

KKR Private Equity Investors, L.P. (KPE) is a Guernsey-based
limited partnership that seeks to create long-term value primarily by
participating in private equity investments sponsored by KKR. Formed
in April 2006 to provide complementary capital for KKR-sponsored
private equity funds, KPE enables certain non-U.S. public market
investors and certain other qualified investors to invest in select
KKR-sponsored investments. KPE plans to invest at least 75% of its
assets in KKR-sponsored private equity investments. Up to 25% of KPE's
assets may be committed to opportunistic and other investments
identified by KKR, which are outside the scope of KKR's traditional
private equity investments. KPE makes its investments through KKR PEI
Investments, L.P., a Guernsey limited partnership.

The common units and related restricted depositary units of KPE
are subject to a number of ownership and transfer restrictions,
including restrictions that limit the ability of U.S. persons to
acquire or hold such securities. Information concerning these
ownership and transfer restrictions is included on the Investor
Relations section of KPE's website at www.kkrpei.com.

Forward-Looking Statements

This release may contain certain forward-looking statements with
respect to the financial condition, results of operations, liquidity,
investments, business and prospects of KPE. By their nature,
forward-looking statements involve risk and uncertainty, because they
relate to events and depend on circumstances that will occur in the
future and there are many factors that could cause actual results and
developments to differ materially from those expressed or implied by
these forward-looking statements.