The Carlyle Group Names Stephen Gray as Senior Advisor to Global Telecommunications and Media Group; Industry Veteran Brings 25 Years of Operational Experience to the Firm

New York – Global private equity firm The Carlyle Group today announced it has appointed Stephen C. Gray as Senior Advisor to its Global Telecommunications and Media Group. He began his duties in December 2007.

Mr. Gray, current Chairman of SecurityCoverage, Inc. and ImOn Communications, LLC and a member of the Board of Directors for Carlyle portfolio companies Insight Communications and Hawaiian Telcom, will continue to provide his operational expertise to Carlyle’s existing and future portfolio companies.

“Carlyle has benefited greatly from Steve’s service on the Insight and Hawaiian Telcom boards and we are delighted to have him join our firm,” said James A. Attwood, Jr., Carlyle Managing Director and Head of the Global Telecommunications and Media Group. “With more than 25 years of industry experience, Steve’s deep operational knowledge and skills as a practitioner will benefit our group’s portfolio companies and our future investment activities.”

Mr. Gray said, “I look forward to working with Carlyle’s talented team of telecommunications and media professionals to build upon their successful track record as investors and operators.”

Carlyle has invested more than $6 billion in telecommunications and media companies around the world since 1987. The firm’s global network of more than 40 professionals focuses on multiple industry sectors including cable TV, publishing, broadcasting, entertainment and content delivery services, wireless and fixed line communications networks, satellite services, broadband and Internet infrastructure.

Mr. Gray served as President of McLeodUSA Incorporated from April 2002 until December 2004. Prior to joining McLeodUSA, Mr. Gray served from 1990 to 1992 as Vice President of Business Services at MCI and before that, from 1988 to 1990, he served as Senior Vice President of National Accounts and Carrier Services for TelecomUSA. During his tenure with TelecomUSA, the company grew to become the fourth largest long distance company in the United States before it was acquired by MCI in 1990.

From 1986 to 1988, Mr. Gray held a variety of sales management positions of increasing responsibility with WilTel Network Services. An operating unit of the Williams Companies, WilTel was one of the nation’s largest and fastest-growing fiber optic network companies.

Mr. Gray began his career with Clayton W. Williams Companies in Texas in 1981 where he held management positions with several of their companies including ClayDesta Communications Inc. ClayDesta became a provider of long distance service in Texas and throughout the Southwest following the consent decree requiring the breakup of AT&T.

Mr. Gray earned his Bachelor of Business Administration from the University of Tennessee.

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