O' Melveny & Myers LLP Advising the Management Team of Kaye Office Supplies Limited


Peter M. Columbus Michael C. Wright
O'Melveny & Myers LLP O'Melveny & Myers LLP
+1 212.326.2180 +44 20 7558 4804
pcolumbus@omm.com mwright@omm.com

O' Melveny & Myers LLP Advising the Management Team of Kaye Office Supplies Limited

LONDON/NEW YORK, 15 December, 2004 - O'Melveny & Myers LLP is advising the management team of Kaye Office Supplies Limited on the recommended offer to acquire all of its issued shares by a newly incorporated company ultimately owned and partially financed by funds managed by Legal & General Ventures.

The transaction values Kaye Office Supplies at £68 million (US$130m) plus the assumption of approximately £17million (US$33m) of existing indebtedness. The management team will hold a significant minority stake in the new group. The group, which trades under the name Kingfield Heath, is one of the UK's largest suppliers of office products.

The transaction was led by Andrew Carpenter with support from associates Paul Loynes and Rufus Gandhi and legal assistant Charlene Cowen.

Carpenter said "It has been a pleasure assisting Alan Barclay (the current CEO of Kingfield Heath) and the rest of the senior management on this transaction. As a new client of the firm, we have enjoyed the opportunity to understand the business and work with them to ensure they have the most appropriate legal platform to deliver sustained growth."

About the Firm

O'Melveny & Myers LLP is a values-driven law firm guided by the principles of excellence, leadership and citizenship.  With the breadth, depth and foresight to serve clients competing in a global economy, our attorneys devise innovative approaches to resolve problems and achieve business goals.  Established in 1885, the firm maintains 14 offices around the world, with more than 900 attorneys.  O'Melveny & Myers' capabilities span virtually every area of legal practice, including Antitrust/Competition; Capital Markets; Corporate Finance; Entertainment and Media; Global Enforcement and Criminal Defense; Intellectual Property and Technology; Labor and Employment; Litigation; Mergers and Acquisitions; Private Equity; Project Development and Real Estate; Restructuring and Insolvency; Securities; Tax; and Trade and International Law.

O'Melveny & Myers was ranked as the #1 law firm in the recently released Directory of Venture Capital Equity Service Providers by Private Equity Analyst, based on the number of private equity and venture capital deals closed in 2003.

To learn more about O'Melveny & Myers LLP, please visit: www.omm.com.

December 15, 2004

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