GTA Teleguam signs merger agreement with Advantage Partners

TAMUNING, Guam and TOKYO – (November 15, 2010) – TeleGuam Holdings, LLC (d/b/a/ “GTA TeleGuam”), the leading provider of communications services for the island of Guam, and Advantage Partners, LLP (“Advantage Partners”), a leading service provider to private equity funds investing in global markets mainly in Japan, announced today the signing of a definitive agreement whereby AP TeleGuam Holdings, Inc., an investment vehicle formed by funds served by Advantage Partners (“AP Funds”) will acquire GTA TeleGuam from Shamrock Capital Advisors.

The transaction represents another substantial milestone for GTA TeleGuam, which will celebrate its sixth anniversary of its privatization in January. Terms of the transaction were not disclosed.

“We are excited about this new partnership and believe that AP Funds’ investment in Guam will benefit employees and customers alike,” said Dan Moffat, president and CEO of GTA TeleGuam. “We are committed to continuing to deliver the citizens of Guam with the highest level of communications service – this transaction will be seamless to employees and customers and GTA TeleGuam will remain a local company.”

The island of Guam has experienced significant innovation in communications services over the years, with strong growth prospects with the relocation of 8,500+ U.S. Marines from Okinawa to Guam. GTA TeleGuam’s record of achievements, coupled with growth prospects from the military buildup and the continued economic rise in Asia, attracted AP Funds to the company and Guam.

“We are very impressed with the professionalism of GTA TeleGuam’s management and employees, and the quality of services offered by GTA TeleGuam. We believe the company is well-positioned for continued growth given its state-of-the-art infrastructure, penetration of quadruple-play offerings and macro growth from the military buildup,” said Richard L. Folsom, Representative Partner at Advantage Partners. “We are excited to work with management, employees, local community and customers, and intend to stay committed to investing in the island to offer the best services to consumers, government, military and business enterprises.”

As part of the transaction, Shamrock will exit its investment in the company since privatizing it back in 2005 to return capital to its investors.

“Since the privatization, GTA TeleGuam has undergone tremendous change and innovation. In the midst of a constantly evolving communications landscape, the company has brought many new services and products to the island including the launch of a wireless GSM network, introduction of the Apple iPhone and launch of video services, to name a few of the services now offered. It has been a pleasure working with the businesses in Guam, and we have appreciated the support we have received from the Government of Guam throughout these changes,” said William Wynperle, Managing Director of Shamrock Capital Advisors. “We are very proud of what the employees of GTA TeleGuam have achieved during our years of investment, and are honored to have been associated with the people of Guam.”

GTA TeleGuam was advised by Barclays Capital in the transaction and Hughes Hubbard & Reed LLP provided legal counsel. AP Funds were advised by Deutsche Securities Inc. (Japan) in the transaction and Nagashima Ohno & Tsunematsu and Kirkland & Ellis LLP provided legal counsel. The transaction is pending government and regulatory approvals.

About GTA TeleGuam

GTA TeleGuam provides complete communications services on Guam. These include local and long-distance telephone service, 3G wireless, DSL Internet access, and advanced digital television, or IPTV. The company also operates a data center in Guam for offering business data storage and managed wide area networking. Based in Tamuning, Guam, GTA TeleGuam is privately owned and locally managed. Shamrock Capital Advisors, a California-based private equity firm founded as the Roy E. Disney Family investment company, and GE provide financial backing to GTA TeleGuam. The company’s website is www.gta.net Phone: 1-671-644-4482.

About Advantage Partners

Advantage Partners, LLP is a private equity firm founded in 1992. The firm services several funds with total capital commitment exceeding USD4.6 billion (JPY380 billion) from both Japanese and international investors . The firm has executed investments in approximately 30 companies to date and has achieved the highest level of returns in the Japanese market. In order to achieve this, Advantage Partners places great importance on supporting operational improvement and strategic planning, based upon extensive management consulting experience. Companies in AP Funds’ portfolio include both private and publicly traded firms in various market segments including: IT/communications/software development, finance/services, consumer products/manufacturing, and distribution/retail. www.advantagepartners.com

About Shamrock Capital Advisors

Historically known as the Disney-family investment vehicle for over thirty years, Shamrock Capital Advisors is a Los Angeles-based private equity firm investing on behalf of a diversified group of institutional limited partners focused solely on the media, entertainment, and communications industries. Shamrock makes both control and minority investments. Shamrock’s representative investments include, REALD, K2 Towers, Media Storm, PRN, Harlem Globetrotters, Modern Luxury and Publishing Group of America. www.shamrock.com