Getty Images Acquired by Private-Equity Firm

SEATTLE, February 26: Hellman
& Friedman is shelling out $2.4 billion to take control of Getty Images, a
leading creator and distributor of still images and stock footage.

Under the terms of the
agreement, Getty Images stockholders will receive $34 in cash for each
outstanding share of common stock they own. This price represents a premium of
approximately 55 percent over the closing price on January 18, 2008, the last
trading day before Getty announced it was looking for a buyer. Completion of
the transaction is subject to shareholder approval and other customary closing
conditions and is expected to close in the second quarter of 2008.

"Our Board of
Directors has thoroughly evaluated strategic alternatives for Getty Images and
has determined that this outcome is in the best interests of our stockholders
as it provides them with superior and certain value,” said Jonathan Klein, the co-founder
and CEO of Getty Images. “Just over a decade ago we started Getty Images with
little more than a vision and have achieved industry leadership due to the
extraordinary talent, effort and commitment of our employees and partners. We
are enthusiastic about entering the next phase of Getty Images' evolution by
partnering with Hellman & Friedman as we continue to provide innovative
offerings to businesses and consumers in a very dynamic digital media
environment."

—By Mansha Daswani