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AGY Completes Merger

12 April 2006

Investment funds affiliated with Kohlberg & Company, LLC, a private equity firm, have completed the acquisition of AGY in accordance with the Agreement of Merger reported earlier this year.

In the merger, a newly-formed entity organized by investment funds affiliated with Kohlberg acquired all of the outstanding shares of AGY for approximately $271million in cash. A portion of the cash merger proceeds was escrowed at closing in accordance with the terms of the Agreement of Merger.

Founded in 1987, Kohlberg & Company is a private equity firm with offices in Mt. Kisco, New York and Palo Alto, California. Together with its affiliates, Kohlberg manages more $3.7 billion of capital. Through its affiliates, Kohlberg has completed over 75 acquisitions and recapitalization transactions in a variety of industries, including a focus on investments in the manufacturing, healthcare, consumer products and service industries.






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