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Och-Ziff Capital Management closes initial securities sale to certain executive managing directors

Och-Ziff CapitalManagement Group LLC completed its previously announced initial to certain of its executivemanaging directors of class A cumulative preferred units in subsidiaries , OZ Advisors LPand OZ Advisors II LP in an aggregate amount of $250 million.

Under the securities purchase agreement's terms, the closingfor the remaining $150 million of class A cumulative preferred units is expectedto occur in January 2017.

Proceeds from the sale are expected to be used to fund paymentsin connection with the settlement of the SECand U.S. Department of Justiceinvestigations related to international bribery. The remainder will be used forworking capital and general corporate purposes.