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Eric M. Kirsch Joins Goldman Sachs Asset Management To Head Its Global Insurance Asset Management Business

May 4, 2007

NEW YORK, MAY 4, 2007 – Goldman Sachs Asset Management (GSAM)
announced today that Eric M. Kirsch will be joining GSAM in early summer as
Head of Global Insurance Asset Management. In this position, he will oversee
distribution, portfolio management, accounting operations and other services that
are critical to delivering outsourcing solutions to insurance clients. He was
previously the Global Head of Deutsche Asset Management’s insurance
business overseeing about $140 billion of assets.

In a joint statement, Peter Kraus and Eric Schwartz, co-heads of the Investment
Management Division said: “This is an important new position for us and reflects
our continuing commitment to building our global insurance business and taking
part in the growing industry trend of insurers’ outsourcing investments from
traditional fixed income to alternatives. Eric will focus on bringing the strengths
of GSAM’s boutique investment platform to expand our current services in the
insurance industry.”

Jonathan Beinner and Tom Kenny, co-heads of US and Global Fixed Income for
GSAM, noted that, “GSAM already has a substantial global insurance client base
and deep institutional relationships. Eric’s extensive experience in insurance
product development, investment management oversight, asset allocation,
distribution, and client service will be invaluable to our global business in this
area. John Gauthier, Head of Fixed Income Insurance Portfolio Management,
and his team are looking forward to working with Eric.”

“We are delighted to have such a respected professional join our team, and we
know that our insurance clients will view this addition very positively,” said
Suzanne Donohoe, head of GSAM’s North American Client business. “He has
worked extensively with senior managements of insurance companies on a
global basis delivering partial and full outsourcing solutions. With a market size
of nearly $17 trillion, we are committed to pursuing opportunities in building a
substantial business in the insurance industry sector, and Eric is ideally suited to
lead that effort.”

In addition to being the Global Head of Deutsche Asset Management’s global
insurance asset management business, during his tenure Mr. Kirsch served as
Head of the North American Fixed Income Department, Group Head of the US
Fixed Income Department, Group Head of the Structured Fixed Income
Department, and Group Head of the Stable Value Group.

Mr. Kirsch earned a BBA from Baruch College in 1987 and an MBA from Pace
University in 1989. He is also a Chartered Financial Analyst (1990).
Goldman Sachs Asset Management is the asset management arm of The
Goldman Sachs Group, Inc. (NYSE: GS), which manages $719 billion as of
March 31, 2007. Goldman Sachs Asset Management has been providing
discretionary investment advisory services since 1989 and has investment
professionals in all major financial centers around the world. The company offers
investment strategies across a broad range of asset classes to institutional and
individual clients globally. Founded in 1869, Goldman Sachs is leading global
investment banking, securities and investment management firm.