KKR INVESTS IN VATS LIQUOR STORE TO CAPITALIZE ON THE FAST GROWING LIQUOR DISTRIBUTION MARKET IN CHINA

NEW YORK and BEIJING, December 16, 2010 - KKR today (15 Dec. - USA / 16 Dec. - Asia) announced its investment,
through its funds, in VATS Liquor Store ("VATS" or "the Company"), the
largest nationwide liquor store chain operator in China.

"KKR is a world-class institutional investment firm and a pioneer in the
global private equity industry, with an outstanding investment track record
globally and within China," said Mr. Xiangdong Wu, Chairman of VATS. "We are
proud to have KKR as our shareholder, which validates VATS' long-term growth
potential and proven business model. We truly appreciate KKR's investment
philosophy of partnering with management to add value for portfolio
companies. KKR's extensive expertise in the global consumer and retail space
will bring tremendous value to VATS both in advancing our operational
capability and maintaining sustained and rapid growth."

According to China's National Bureau of Statistics, annual sales of
China's white liquor market are approximately $27 billion and the consumption
of bottled white liquor has grown at 20% CAGR in the past five years. The
partnership between VATS and KKR marks a collective effort to seize the
growth opportunity in China's liquor industry, and to promote healthy
development of the market.

"We are excited to be partnering with VATS, the leading franchise in
China's liquor distribution industry," Xiang Li, Managing Director of KKR
Greater China, said. "We look forward to fully utilizing our global resource
and expertise, working closely with the outstanding management team at VATS
to support the future development of the Company."

About VATS

Founded in May, 2005, VATS operates more than 270 liquor stores covering
all provinces in mainland China. The Company thrives on providing customers
with high quality authentic liquor products through its extensive nationwide
retail network. The Company holds sole distribution rights to a diversified
and valuable portfolio of leading premium Chinese liquor brands, including
Wuliangye Vintage Series, Guyuelongshan Vintage Series, Zhenjiu and
Xiangjiao. The Company also distributes local premium wine brand Shangri-la
wine, top French wines such as "Petrus", "Lafite"," Latour" and scotch
whiskey "Laphroaig".

About KKR

Founded in 1976, KKR is a leading global investment firm with $55.5
billion in assets under management as of September 30, 2010. With over 14
offices around the world, KKR manages assets through a variety of investment
funds and accounts covering multiple asset classes. Since inception, KKR has
completed multiple private equity investments with a total transaction value
in excess of $430 billion and the portfolio companies in the firm's private
equity funds have over $200 billion of annual revenues and more than 900,000
employees. KKR seeks to create value in its private equity investments by
working as a partner with management and bringing global resources and
operational expertise to its portfolio companies. KKR invests in high-quality
franchises across multiple industries and geographies, including Asian
investments such as International Far Eastern Leasing, China Modern Dairy,
and Oriental Brewery, among many others, and current and previous retail and
consumer product investments such as Del Monte, Sealy, Dollar General, Pets
at Home, WILD, Duracell, Gillette, RJR Nabisco and Safeway. KKR is publicly
traded on the New York Stock Exchange (NYSE: KKR). For additional
information, please visit KKR's website at www.kkr.com.

    KKR Media Contacts
    U.S.
    Peter McKillop or Kristi Huller
    Phone: +1-212-750-8300
    Email: media@kkr.com

    Hong Kong
    Susannah Geary, Kreab Gavin Anderson
    Tel: +852-2218-9919
    Mob: +852-9162-9423
    Email: sgeary@kreabgavinanderson.com

In U.S., Peter McKillop or Kristi Huller, +1-212-750-8300, media at kkr.com; or In Hong Kong, Susannah Geary of Kreab Gavin Anderson, +852-2218-9919, +852-9162-9423, sgeary at kreabgavinanderson.com