Mumbai, December 1, 2008: The Blackstone Group (NYSE: BX; china.blackstone.com) today announced that it is partnering with the CMS Group to setup a new company by carving out the IT Infrastructure Management and Outsourced Business Services divisions (comprising Card Solutions, Transaction Printing Solutions and ATM Cash Management) of CMS Computers Ltd. Blackstone will own a majority stake in this new company and will have majority representation on the board. The promoters, primarily the Grover family, will hold a substantial minority stake in the new company. The new company has entered into an agreement with Mr Rajiv Kaul, ex-CEO of Microsoft India, to be the Executive Vice Chairman and CEO of the new company and lead the company in to the next phase of growth.