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NEW YORK, Aug 24, 2007 /PRNewswire-FirstCall via COMTEX News Network/ --
Evercore Partners Inc. (NYSE: EVR) announced today that it has filed a Registration Statement on Form S-3 with the Securities and Exchange Commission to cover future issuances from time to time of up to 20,193,897 shares of Class A common stock to holders of Evercore LP partnership units upon exchange of up to an equal number of such partnership units. The registration of these shares of Class A common stock is being done consistent with the practice of other similarly organized institutions.
There are no plans for employees to exchange their Evercore LP partnership units, and in all circumstances such exchanges are subject to the transfer restrictions set forth in the partnership agreement of Evercore LP. The Registration Statement does not involve capital raising efforts by the firm and will not result in any increase in the number of shares of Evercore Partners Inc.'s Class A common stock outstanding.
The 20,193,897 partnership units of Evercore LP were issued in Evercore's reorganization that took place in August 2006, prior to the initial public offering of Evercore Partners Inc.'s Class A common stock. Any offers to exchange partnership units will be made only by means of the written prospectus included in the Registration Statement. A copy of the prospectus, when available, may be obtained by contacting: Evercore Partners Inc., 55 E. 52nd Street, New York, NY 10055; Phone: (212) 857-3100.
The Registration Statement relating to these securities has not yet become effective. These securities may not be sold nor may offers to buy these securities be accepted prior to the time the Registration Statement becomes effective.
About Evercore Partners
Evercore Partners is a leading investment banking boutique and investment firm. Evercore's Advisory business counsels its clients on mergers, acquisitions, divestitures, restructurings and other strategic transactions. Evercore's Investment Management business manages private equity funds and provides traditional asset management services to sophisticated institutional investors. Evercore serves a diverse set of clients around the world from its offices in New York, Los Angeles, San Francisco, London, Mexico City and Monterrey, Mexico. More information about Evercore can be found on the Company's Web site at http://www.evercore.com. EVR-F
SOURCE Evercore Partners Inc.
Investors, Robert Walsh, Chief Financial Officer of Evercore Partners, +1-212-857-3100; or Media, Kenny Juarez or Chuck Dohrenwend of The Abernathy MacGregor Group, for Evercore Partners, +1-212-371-5999
http://www.evercore.com
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