Michael D. Newman Appointed CFO of Blackstone Crystal Holdings

New York: Michael D. Newman has been appointed chief financial officer of Blackstone Crystal Holdings Capital Partners (Cayman) IV Ltd., the holding company for Blackstone’s investment in Celanese AG. Mr. Newman joins Blackstone Crystal Holdings from RadioShack Corporation where he was senior vice president and chief financial officer.

Mr. Newman’s career spans over 25 years in various financial roles. Following graduation from Amherst College in Massachusetts with a degree in economics, he joined General Electric Company’s financial management program and moved through a succession of increasingly senior positions in GE’s plastics, silicones and appliance businesses in the United States and Europe.

Mr. Newman joined Hussman International as vice president and chief financial officer following its spin-off from Whitman as a public company in 1996 and was subsequently involved in the sale of Hussman to Ingersoll Rand. He worked briefly at Intimate Brands as CFO before joining Fort Worth-based RadioShack in 2001.

Mr. Newman will assume responsibility for financial oversight and direction of related matters concerning Blackstone’s interest in Celanese.

About The Blackstone Group

The Blackstone Group (http://www.blackstone.com/), a leading global investment firm, has raised over $14 billion for private equity investing across a number of industries, including investments in the energy industry. Blackstone Capital Partners IV is the largest institutional private equity fund ever raised at $6.45 billion. Blackstone is headquartered in New York and is advised on its European investments by offices in London and Hamburg. The Hamburg office advises on fund investments in the German speaking and Northern European markets.