Advent International appoints interim advisory board for Lloyds Registrars

Advent International, one of the world's leading global private equity firms, today announced the appointment of Bob Thian (chairman), Rod Aldridge OBE (non-executive) and Oliver Niedermaier (non-executive) to an interim advisory board pending completion of Advent’s acquisition of Lloyds TSB Registrars. These individuals, all of whom have agreed to co-invest with Advent International, will become non-executive directors of Newco (Lloyds TSB Registrars) upon completion, which is expected before the end of 2007 subject to regulatory approval.

The other members of the interim advisory board are James Brocklebank, Advent International (non-executive) and Peter Rutland, Advent International (non-executive). David Winton, currently Registrars’ managing director, becomes chief executive of the interim advisory board and will be chief executive of the company post completion. Two further Lloyds TSB Registrars executives will join the board of the company upon completion.

Lloyds TSB Registrars is the UK’s leading share registration business and a prominent player in the financial services business process outsourcing (BPO) market. The agreement for Advent to acquire the Registrars business from Lloyds TSB was announced on 21 May 2007. Completion is subject to regulatory approval by the FSA, anticipated to be awarded in the second half of the year. At that time the interim board will transfer to the Newco board.

Bob Thian is currently chairman of utilities group Southern Water Limited; Whatman plc, a leading global supplier of separations technology to the life sciences industry, where he has been responsible for overseeing the restructuring and recovery of the group since his appointment in November 2002; and Cardpoint plc, the largest deployer of independent ATMs in Europe. Previously, he was group CEO of The Stationery Office (formerly HMSO), where he oversaw its successful demerger, and before that, group CEO of North West Water following its privatisation. Earlier in his career, he held senior positions in the pharmaceuticals industry including periods with Glaxo and Abbott Laboratories.

Rod Aldridge, OBE was the founder and chairman of the Capita Group until his retirement in July 2006. During his tenure he led the group from its formation in 1984 within the Chartered Institute of Public Finance and Accountancy (CIPFA) to being a FTSE 100 company. Today the group is the UK’s leading BPO and professional support services company. Prior to Capita, Rod worked in local government for ten years, where he qualified as a chartered public accountant. He joined CIPFA in 1974, ultimately becoming its technical director. In July 2006, Rod established the Aldridge Foundation to continue with his work on public service reform and to focus on his charitable activities involving educational underachievement and social exclusion. Rod is a Patron of the Prince’s Trust and chair of V, a charity launched in May 2006 aiming to increase the involvement of 16 – 25 year olds in volunteering and community action. He has also recently been appointed chairman of The Lowry, a theatre and arts venue in Salford. Rod is currently a non-executive director on the Ministerial Advisory Board of the Foreign and Commonwealth Office Services and was chairman of the CBI's Public Services Strategy Board from its inception in 2003 until July 2006.

Oliver Niedermaier, PhD is a former member of the senior executive team of Australian-listed Computershare, a leading global provider of financial market services and technology to the global securities industry. Oliver joined the Computershare group executive committee following its 2004 acquisition of Pepper Technologies AG, an international CRM software and consultancy business which he founded in 1998. Responsible for corporate strategic development during an active period in Computershare’s international expansion, he was also CEO of Computershare subsidiary, Georgeson, a world-leading provider of strategic solutions to corporations and shareholder groups. Oliver was previously a non-executive director of tecis Group, a Dax-100 listed financial services company (subsequently acquired by AWD). Oliver is currently a non-executive board member of the LMU Entrepreneurship Center at the University of Munich.

James Brocklebank, the Advent partner leading the Lloyds TSB Registrars deal, commented:

"We are delighted to have attracted Bob, Rod and Oliver to work with us on the Lloyds TSB Registrars transaction. Each brings distinct but complementary expertise that will help David and his team maximise the potential of the company. They will be actively involved in the formulation and development of strategy and business development. It is a clear signal of the quality and potential of the company that they have chosen to work with us.”

David Winton, chief executive of the interim board, commented:

“Bob, Rod and Oliver have managed businesses at the highest level and each has a track record that says a good deal about their talents as managers and builders of businesses. I am looking forward to working with them as we continue to build Lloyds TSB Registrars as a pre-eminent player in financial services BPO.”

About Advent International
Founded in 1984, Advent International is one of the world's leading global buyout firms, with offices in 14 countries on four continents. A driving force in international private equity for more than two decades, Advent has built an unparalleled global platform of over 100 investment professionals across Western and Central Europe, North America, Latin America and Asia. The firm focuses on cross-border, strategic restructuring and growth opportunities in five core sectors, employing a highly active ownership approach to drive earnings improvements in portfolio companies. Since inception, Advent has raised $10 billion in private equity capital and completed more than 200 buyout and private equity transactions valued at over $30 billion in 35 countries. For more information, visit www.adventinternational.com.

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For further information

Deal Team
James Brocklebank (London)
Tel: +44 (0) 20 7333 0800
jbrocklebank@uk.adventinternational.com

Marketing
Alison Spence (London)
Tel: +44 (0) 20 7333 0800
aspence@uk.adventinternational.com