Och-Ziff Capital Management Group LLC Reports 2009 Second Quarter Results

2009 Second Quarter Dividend of $0.02 per Class A Share


NEW YORK, Aug. 4  /PRNewswire-FirstCall/ -- Och-Ziff Capital Management Group LLC (NYSE:OZM) (the "Company" or "Och-Ziff") today reported its results for the second quarter ended June 30, 2009, and the declaration of a $0.02 per share second quarter cash dividend on its Class A Shares.

  Summary Highlights

  --  Distributable Earnings of $12.6 million, or $0.03 per Adjusted Class A
      Share, for the 2009 second quarter
  --  Assets under management of $20.7 billion as of July 1, 2009, 2% higher
      than as of April 1, 2009 and 38% lower than as of July 1, 2008

  --  Year-to-date net returns through June 30, 2009 of the OZ Master Fund
      of 12.3%, the OZ Europe Master Fund of 7.0%, the OZ Asia Master Fund
      of 13.2% and the OZ Global Special Investments Master Fund of 3.6%



"We continued to deliver strong, absolute returns during the second quarter and we extended that trend in the month of July," said Daniel Och, Chairman and Chief Executive Officer of Och-Ziff.  "The ongoing strength of our returns results from our disciplined risk management and investment process, and also demonstrates the benefits of our multi-strategy approach.  We have a long history of positive investment performance because we are able to capitalize on opportunities in any market globally, rather than being dependent on large directional moves in the markets or a particular sector. As a result, we are well positioned to generate strong, risk-adjusted returns over the coming years.

"We also believe that the current redemption cycle is largely over, although there may be some level of additional redemptions as it continues to taper off.  After the events of the past year, investors more than ever understand the importance of manager selection and that there is a significant differentiation among alternative asset managers.  We remain confident that, as investors begin to re-allocate capital to alternative investments, we are well positioned to attract that flow and grow assets under management."

GAAP Net Loss Allocated to Class A Shareholders

For the 2009 second quarter, Och-Ziff reported a GAAP net loss of $88.3 million, or $1.15 per basic and diluted Class A Share, compared with a GAAP net loss of $60.8 million, or $0.82 per basic and $1.05 per diluted Class A Share, for the 2008 second quarter. The primary drivers of the year-over-year increase in the GAAP net loss were a decline in Management Fees due to lower assets under management and higher compensation expenses as discussed below.

For the 2009 first half, Och-Ziff reported a GAAP net loss of $170.2 million, or $2.22 per basic and diluted Class A Share, compared with a GAAP net loss of $328.9 million, or $4.44 per basic and diluted Class A Share, for the 2008 first half.  The primary driver of the year-over-year decrease in the GAAP net loss was an increase in the Net Loss Allocated to Partners' and Others' Interests in Income of Consolidated Subsidiaries resulting from the adoption of SFAS No. 160, partially offset by a decline in Management Fees due to lower assets under management and higher compensation expense as discussed below.

The 2009 second quarter and first half GAAP net losses primarily resulted from non-cash expenses of $424.7 million and $844.7 million, respectively, associated with the Company's reorganization in connection with its initial public offering ("IPO") in November 2007.  These expenses are related to the amortization of Och-Ziff Operating Group A Units ("Group A Units"), which represent equity interests in the Company's principal operating subsidiaries that were issued to the Company's pre-IPO owners in exchange for their pre-IPO interests in those subsidiaries.  The Group A Units vest annually over five years until November 2012.  Accordingly, the amortization of these expenses is expected to result in a GAAP net loss each quarter through the end of 2012.  Once vested, the Group A Units may be exchanged on a one-to-one basis for Class A Shares.

Additionally, the GAAP net losses in the 2009 second quarter and first half were driven by non-cash expenses of $26.6 million and $52.5 million, respectively, for the amortization of equity-based compensation.  This expense relates to Class A Restricted Share Units ("RSUs") awarded to all of the Company's employees in connection with the IPO, which vest annually over four years from the closing of the IPO, and subsequent compensation-related grants. Each RSU represents the right to receive one Class A Share upon vesting.

Also contributing to the GAAP net losses in the 2009 second quarter and first half was compensation expense of $25.4 million relating to the accrual of the estimated discretionary cash bonuses that the Company currently expects to pay to its employees at the end of the fourth quarter of 2009.  The Company began to accrue for this estimated expense as a result of a combination of several factors, including strong investment performance in its funds in a year with high-water marks and the importance of maintaining a competitive compensation structure.  The remainder of the bonus estimate will be expensed over the next two quarters of this year.  The estimate, and therefore the amount of the accrual, may fluctuate during the remainder of 2009 as discretionary cash bonuses are based on total annual revenue, which is influenced by, among other things, the investment performance of the Company's funds, the level of its assets under management, and global economic and market conditions.  As it has done historically, the Company will determine the actual amount of annual discretionary cash bonuses in the fourth quarter.

SUPPLEMENTAL NON-GAAP FINANCIAL MEASURES

In addition to analyzing the Company's results on a GAAP basis, Och-Ziff's management also uses certain supplemental non-GAAP financial measures. Management uses these measures to assist in its evaluation of the financial performance of the Company's business and to make operating decisions.  Management believes these measures enhance the understanding and comparability of the Company's results from operations as they exclude the impact of the adjustments discussed below. Management considers it important that investors review the same performance information that it uses.

Economic Income is a measure of pre-tax operating performance that excludes income allocations to the pre-IPO interests of the Company's partners and Ziff Brothers Investments (the "Ziffs"), reorganization expenses related to the Company's IPO, equity-based compensation expenses, taxes, the impact of consolidated Och-Ziff funds, or amounts allocated to the Company's partners and the Ziffs on their direct interests in the Och-Ziff Operating Group, among other adjustments. For further information regarding these adjustments, please see Exhibit 7 of the financial tables that accompany this press release.

Management evaluates Economic Income for the Och-Ziff Funds segment, the Company's one reportable segment under GAAP, and for the Company's Other Operations.  Economic Income for Other Operations is a non-GAAP measure that is presented on a comparable basis to Economic Income for the Och-Ziff Funds segment. Management also evaluates Total Company Economic Income, which is a non-GAAP measure that equals the sum of Economic Income for the Och-Ziff Funds segment and Other Operations. For reconciliations of Economic Income of the Och-Ziff Funds segment, Other Operations and Total Company to the respective GAAP net losses for the periods discussed below, please see Exhibits 3 through 6 of the financial tables that accompany this press release.

Distributable Earnings is a non-GAAP measure of after-tax operating performance and equals Total Company Economic Income less Adjusted Income Taxes.  Adjusted Income Taxes are estimated assuming all Group A Units were converted on a one-to-one basis into Class A Shares.  Distributable Earnings per Share is equal to Distributable Earnings divided by the weighted-average number of Adjusted Class A Shares.  Adjusted Class A Shares are determined assuming all Group A Units and RSUs were converted on a one-to-one basis into Class A Shares. Management uses Distributable Earnings, among other financial data, to determine the earnings available to distribute as dividends to holders of the Company's Class A Shares and to the Company's partners and the Ziffs with respect to their Group A Units. For a reconciliation of Economic Income to Distributable Earnings, please see Exhibit 8 of the financial tables that accompany this press release.

The Company's supplemental non-GAAP financial measures should not be considered as alternatives to GAAP earnings before income taxes, net earnings or cash flow, or as indicative of liquidity or the cash available to fund operations.

2009 SECOND QUARTER DISTRIBUTABLE EARNINGS

The Company's Distributable Earnings for the 2009 second quarter were $12.6 million, or $0.03 per Adjusted Class A Share, compared with $53.8 million, or $0.13 per Adjusted Class A Share, in the 2008 second quarter.  Distributable Earnings for the 2009 first half ended were $39.8 million, or $0.10 per Adjusted Class A Share, compared with $103.6 million, or $0.26 per Adjusted Class A Share, in the 2008 first half.  The year-over-year reduction in Distributable Earnings for both periods was primarily attributable to the decline in Management Fees due to lower assets under management and the increase in compensation expenses due to the accrual for 2009 estimated discretionary cash bonuses (as discussed above), partially offset by lower Non-compensation Expenses and lower taxes.

Assets Under Management

Och-Ziff's assets under management were $21.9 billion as of June 30, 2009, 3% lower than the $22.6 billion in assets under management as of March 31, 2009 and 35% lower than the $33.6 billion in assets under management as of June 30, 2008.  The $11.7 billion year-over-year decrease was driven by net outflows of $8.2 billion and performance-related depreciation of $3.5 billion during the period.  During the 2009 second quarter, the $681.6 million decrease in assets under management was driven by net outflows of approximately $2.1 billion largely offset by performance-related appreciation of approximately $1.5 billion.  The net outflows for the 2009 second quarter included redemption requests received for March 31, 2009, but excluded redemption requests received for June 30, 2009 as these redemptions were reflected in assets under management as of July 1, 2009.

Assets under management as of July 1, 2009 were $20.7 billion, which reflected redemption requests received for June 30, 2009 (net of July 1, 2009 capital inflows) of $1.2 billion.  Virtually all redemptions for a quarter generally are paid on the first day of the month following the quarter in which the redemption notice was submitted, and capital inflows for that month are accepted on the same day.  The Company believes its redemptions remained elevated in the 2009 second quarter due to the continued effect of other alternative asset managers that imposed gates, or who otherwise restricted access to investor capital.  Och-Ziff has provided, and continues to provide, liquidity to its fund investors in accordance with the pre-defined terms of its funds.

Estimated assets under management as of August 1, 2009 were $21.5 billion, which reflected August 1, 2009 capital inflows (net of redemption requests for July 31, 2009) of approximately $100 million, and performance-related appreciation of approximately $700 million.

  Assets under management by fund:

                                                          % Change (1)
                                                     ---------------------
                                                     Jun. 2009   Jun. 2009
                         June 30, March 31, June 30,    vs.          vs.
  (dollars in billions)    2009      2009     2008    Mar. 2009  Jun. 2008
                         -------- --------- -------- ----------  ---------

  OZ Master Fund             14.4      14.3     20.0          1%       -28%
  OZ Europe Master Fund       3.0       3.5      6.4        -16%       -54%
  OZ Asia Master Fund         1.4       1.7      3.8        -18%       -63%
  OZ Global Special
   Investments Master
   Fund                       1.9       1.9      2.1          2%        -6%
  Other (1) (2)               1.2       1.2      1.3         NM         NM

  (1) Rounding differences may occur.
  (2) Includes real estate funds, managed accounts and other funds not
      significant to the Company's assets under management.


  Investment Performance



In the 2009 second quarter, performance-related appreciation was due primarily to improved investment opportunities globally in long/short equities, convertible arbitrage and credit.

  Performance by fund(1):

                                               2009
                            ---------------------------------------------
                            April      May      June       2Q        YTD
                            -----     -----    -----     -----     ------
  OZ Master Fund            1.86%     3.42%    2.14%     7.60%     12.29%
  OZ Europe Master Fund     2.48%     3.32%    1.24%     7.20%      7.02%
  OZ Asia Master Fund       3.09%     4.62%    0.58%     8.48%     13.19%
  OZ Global Special
   Investments Master
   Fund                     0.00%      1.97%   0.88%     2.87%      3.58%

  (1) Please see important disclosures on Exhibit 11 of the financial
      supplement accompanying this press release.


  Summary results OF THE OCH-ZIFF FUNDS SEGMENT



The Company conducts substantially all of its business through the Och-Ziff Funds segment, which is currently the Company's only reportable segment.  This segment provides management and advisory services to the Company's hedge funds and separately managed accounts. For reconciliations of Economic Income of the Och-Ziff Funds segment to the respective GAAP net losses for the periods discussed above, please see Exhibits 3 through 6 of the financial tables that accompany this press release.

Economic Income Revenues

Economic Income Revenues for the 2009 second quarter were $85.0 million, a 42% decrease from 2008 second quarter Economic Income Revenues of $147.1 million.  Management Fees were $84.5 million, 42% lower than second quarter 2008 Management Fees of $145.3 million.

Economic Income Revenues for the 2009 first half were $177.7 million, a 39% decrease from 2008 first half Economic Income Revenues of $293.6 million.  Management Fees were $176.9 million, 39% lower than first half 2008 Management Fees of $290.3 million.

Economic Income Revenues were lower year-over-year for both periods as a result of lower Management Fees due to the decline in assets under management, which was driven by performance-related depreciation in the second half of 2008 and investor redemptions in the fourth quarter of 2008 and first quarter of 2009.  Redemption requests received for June 30, 2009 had no impact on 2009 second quarter results as they reduced assets under management as of July 1, 2009 in accordance with the Company's practices.  The effect of these redemptions on Management Fees will be recognized in the Company's 2009 third quarter results.

Compensation and Benefits

Compensation and Benefits expenses for the 2009 second quarter totaled $42.6 million, 74% higher than 2008 second quarter Compensation and Benefits expenses of $24.5 million. Compensation and Benefits expenses for the 2009 first half totaled $63.0 million, 31% higher than 2008 first half Compensation and Benefits expenses of $48.2 million.

The increase in Compensation and Benefits expense in both periods was due primarily to the $24.6 million expense recorded during the second quarter for the estimated, annual discretionary cash bonuses the Company anticipates paying its employees in the fourth quarter of 2009 (as discussed above).  Partially offsetting this increase was the year-over-year decline in salaries and benefits expense due to lower headcount as a result of reduced assets under management.  Additionally, guaranteed bonuses declined year-over-year due to a lower level of hiring activity as well as lower one-time, non-recurring bonus payments.

Non-Compensation Expenses

Non-compensation Expenses in the 2009 second quarter were $21.8 million, a 26% decrease from 2008 second quarter Non-compensation Expenses of $29.4 million.  Non-compensation Expenses in the 2009 first half were $45.9 million, a 29% decrease from 2008 first half Non-compensation Expenses of $64.5 million.

The decrease in both periods was driven principally by lower professional services fees and lower business development costs, reflecting the effect of reduced business activity in light of prevailing market conditions, as well as expense reductions in line with lower assets under management.  Also contributing to the decrease was lower interest expense on the Company's variable rate borrowings due to the decline in LIBOR. The overall decline in Non-compensation Expenses in both periods was partially offset by higher occupancy expense related to the expansion of leased office space and higher insurance costs.

Summary results OF THE COMPANY's OTHER OPERATIONS

The Company's Other Operations are comprised of its real estate business, which manages and provides advisory services to its real estate funds, and investments in new businesses established to expand certain of the Company's private investment platforms.  The businesses within Other Operations are currently in early growth stages, and are not included in the results of the Och-Ziff Funds segment.  Economic Income for Other Operations as discussed below is a supplemental non-GAAP measure.

Economic Income for the 2009 second quarter for the Company's Other Operations was a net loss of $4.8 million, compared with net income of $0.1 million in the 2008 second quarter. Economic Income for the 2009 first half for the Company's Other Operations was a net loss of $8.5 million, compared with a net loss of $3.4 million in the 2008 first half.  The 2009 second quarter and first half net losses were primarily related to compensation costs associated with the Company's Asia real estate business and a $0.8 million accrual established during the second quarter for the estimated annual discretionary cash bonuses the Company anticipates paying the employees in its U.S. real estate business in the fourth quarter of 2009 (as discussed above).  The 2008 second quarter and first half results were primarily related to favorable results of the Company's U.S. real estate business offset by net losses related to its share of the start-up costs associated with establishing its African joint venture. For reconciliations of Economic Income of the Company's Other Operations to the respective GAAP net losses for the periods described above, please see Exhibits 3 through 6 of the financial tables that accompany this press release.

TOTAL COMPANY Economic Income

Total Company Economic Income for the 2009 second quarter was $15.8 million, an 83% decrease from 2008 second quarter Total Company Economic Income of $93.3 million.  Total Company Economic Income for the 2009 first half was $60.3 million, a 66% decrease from 2008 first half Total Company Economic Income of $177.6 million. For reconciliations of Total Company Economic Income to (i) the Company's GAAP net losses, and (ii) Distributable Earnings, please see Exhibits 3 through 8 of the financial tables that accompany this press release.

CAPITAL

As of June 30, 2009, the number of Class A Shares outstanding was 78,403,376.  For purposes of calculating Distributable Earnings per Share, the Company assumes that all Group A Units and RSUs outstanding as of June 30, 2009 have been converted on a one-to-one basis into Class A Shares.  For the second quarter and first half ended June 30, 2009, the total weighted-average Adjusted Class A Shares outstanding were 402,997,072 and 403,055,195, respectively.

DIVIDEND

The Board of Directors of Och-Ziff declared a 2009 second quarter dividend of $0.02 per Class A Share, to be paid on August 11, 2009 to holders of record at the close of business on July 1, 2009.

For U.S. federal income tax purposes, the dividend will be treated as a partnership distribution.  Based on the best information currently available, the Company estimates that when calculating withholding taxes, the entire amount of the 2009 second quarter dividend will be treated as U.S. source dividend income.

Non-U.S. holders of Class A Shares are generally subject to U.S. federal withholding tax at a rate of 30% (subject to reduction by applicable treaty or other exception) on their share of U.S. source dividends and certain other types of U.S. source income realized by the Company.  With respect to interest, however, no withholding is generally required if proper certification (on an IRS Form W-8) of a beneficial owner's foreign status has been filed with the withholding agent.  In addition, non-U.S. holders must generally provide the withholding agent with a properly completed IRS Form W-8 to obtain any reduction in withholding.

Och-Ziff will host a conference call today, August 4, 2009, at 8:30 a.m. Eastern Time to discuss the Company's 2009 second quarter results.  The call will be open to the public and can be accessed by dialing 888-680-0890 (callers inside the U.S.) or 617-213-4857 (callers outside the U.S.).  The number should be dialed at least ten minutes prior to the start of the call.  The passcode for the call will be 83937218.  A simultaneous webcast of the call will be available to the public on a listen-only basis on the For Shareholders page of the Company's website at http://www.ozcap.com/.

For those unable to listen to the live broadcast, a replay will be available by dialing 888-286-8010 (callers inside the U.S.) or 617-801-6888 (callers outside the U.S.), passcode 47416603, beginning approximately two hours after the event for two weeks.  A webcast replay of the event will also be available on the For Shareholders page of the Company's website.

Forward-Looking Statements

The information contained in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect the current views of the Company with respect to, among other things, its future financial or business performance, events, strategies or expectations, including but not limited to its ability to generate returns and preserve capital and its ability to expand its investment platforms.  Such  forward-looking statements are generally identified by the use of words such as "outlook," "believe," "expect," "potential," "continue," "may," "will," "should," "could," "seeks," "approximately," "predicts," "intends," "plans," "estimates," "anticipates," "opportunity," "assume," "remain," "sustain," "achieve" or the negative version of those words or other comparable words.

Any forward-looking statements contained in this press release are based upon historical performance of the Company and its subsidiaries and on current plans, estimates and expectations of the Company and its subsidiaries.  The inclusion of this forward-looking information should not be regarded as a representation by the Company or any other person that the future plans, estimates or expectations contemplated by the Company will be achieved.  Such forward-looking statements are subject to various risks and uncertainties, including but not limited to global and domestic market and business conditions, the Company's ability to successfully compete for fund investors, talent and investment opportunities, successful formulation and execution of its business and growth strategies, the Company's ability to appropriately manage conflicts of interest, and tax and other regulatory factors relevant to the Company's structure and status as a public company, as well as assumptions relating to the Company's operations, financial results, financial condition, business prospects, growth strategy and liquidity.

If one or more of these or other risks or uncertainties materialize, or if the Company's assumptions prove to be incorrect, the Company's actual results may vary materially from those indicated in these statements.  These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in the Company's filings with the Securities and Exchange Commission, including but not limited to the Company's Annual Report on Form 10-K for the year ended December 31, 2008.  Any forward-looking statements contained in this press release are made only as of the date hereof.  The Company does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.

  This press release does not constitute an offer of any Och-Ziff fund.

  About Och-Ziff Capital Management Group LLC


Och-Ziff Capital Management Group LLC is one of the world's largest institutional alternative asset managers with offices in New York, London, Hong Kong, Tokyo, Bangalore and Beijing.  Och-Ziff's funds seek to deliver consistent, positive, risk-adjusted returns throughout market cycles, with a strong focus on capital preservation.  Och-Ziff's multi-strategy approach combines global investment strategies, including merger arbitrage, convertible and derivative arbitrage, equity restructuring, credit and distressed investments, private investments and real estate.

As of August 1, 2009, Och-Ziff had approximately $21.5 billion in assets under management with approximately 600 investor relationships.  For more information, please visit http://www.ozcap.com/.

                                  Exhibit 1
                    OCH-ZIFF CAPITAL MANAGEMENT GROUP LLC
              Consolidated Statements of Operations (Unaudited)
              (dollars in thousands, except per share amounts)


                               Three Months Ended      Six Months Ended
                                    June 30,               June 30,
                             --------------------    --------------------
                               2009         2008        2009        2008
                             -------     --------    --------    --------

  Revenues
    Management fees          $86,166     $146,519    $180,471    $292,794
    Incentive income             265        1,078         265       1,110
    Other revenues               285          735         553       2,254
    Income of
     consolidated
     Och-Ziff funds            8,887        4,885      11,502       4,886
                               -----        -----      ------       -----
    Total Revenues            95,603      153,217     192,791     301,044
                              ------      -------     -------     -------

  Expenses
    Compensation and
     benefits                 76,025       52,056     127,901     105,011
    Allocations to non-
     equity partner
     interests                 4,915        4,024       4,575       2,174
    Reorganization
     expenses                424,736      425,584     844,685     851,168
    Profit sharing               308         (597)        291      (1,431)
    Interest expense           4,060        6,856       8,655      17,673
    General,
     administrative
     and other                21,132       33,264      43,382      59,039
    Expenses of
     consolidated
     Och-Ziff funds            1,142          997       1,896       1,357
                               -----          ---       -----       -----
    Total Expenses           532,318      522,184   1,031,385   1,034,991
                             -------      -------   ---------   ---------

  Other Income (Loss)
    Net earnings
     (losses) on
     deferred balances
     and investments
     in Och-Ziff funds
     and joint ventures       15,283          994       3,736      (4,170)
    Gain on early
     retirement of debt        2,013            -       2,013           -
    Net gains (losses)
     of consolidated
     Och-Ziff funds             (375)         410         (98)       (503)
                                ----          ---         ---        ----
    Total Other Income
     (Loss)                   16,921        1,404       5,651      (4,673)
                              ------        -----       -----      ------

  Loss before Income
   Taxes                    (419,794)    (367,563)   (832,943)   (738,620)
  Income taxes                   449        4,735       3,278       7,961
                                 ---        -----       -----       -----
  Consolidated Net
   Loss                    $(420,243)   $(372,298)  $(836,221)  $(746,581)
                           =========    =========   =========   =========

  Net Loss Allocated
   to Partners' and
   Others' Interests
   in Income of
   Consolidated
   Subsidiaries            $(331,930)   $(311,497)  $(666,054)  $(417,662)
                           =========    =========   =========   =========

  Net Loss
   Allocated to
   Class A
   Shareholders             $(88,313)    $(60,801)  $(170,167)  $(328,919)
                            ========     ========   =========   =========


  Net Loss per Class A
   Share
    Basic                     $(1.15)      $(0.82)     $(2.22)     $(4.44)
                              ======       ======      ======      ======
    Diluted                   $(1.15)      $(1.05)     $(2.22)     $(4.44)
                              ======       ======      ======      ======

  Weighted-Average
   Class A Shares
   Outstanding
    Basic (1)             76,804,771   74,138,572  76,676,699  74,138,572
                          ==========   ==========  ==========  ==========
    Diluted               76,804,771  385,238,096  76,676,699  74,138,572
                          ==========  ===========  ==========  ==========

  (1)  Includes fully-vested RSUs that have not been exchanged into Class A
       Shares as of the end of the period.



                                 Exhibit 2
                   OCH-ZIFF CAPITAL MANAGEMENT GROUP LLC
                   Economic Income - Non-GAAP (Unaudited)
                           (dollars in thousands)


                                       Three Months Ended June 30, 2009
                                     -----------------------------------
                                                                 Total
                                                                Company
                                        Och-Ziff      Other    Economic
                                     Funds Segment Operations    Income
                                     ------------- ----------  ---------

  Economic Income Revenues
    Management fees                        $84,523     $1,311    $85,834
    Incentive income                           265          -        265
    Other revenues                             231         54        285
                                               ---        ---        ---
    Total Economic Income Revenues          85,019      1,365     86,384
                                            ------      -----     ------

  Economic Income Expenses
    Compensation and benefits               42,587      4,990     47,577
    Non-compensation expenses               21,801        886     22,687
                                            ------        ---     ------
    Total Economic Income Expenses          64,388      5,876     70,264
                                            ------      -----     ------

    Net losses on joint ventures (1)             -       (444)      (444)
    Net loss (income) allocated to
     partners' and others' interests
     in income of consolidated
     subsidiaries (2)                            -        122        122
                                               ---        ---        ---
  Economic Income                          $20,631    $(4,833)   $15,798
                                           =======    =======    =======


                                       Three Months Ended June 30, 2008
                                     -----------------------------------
                                                                 Total
                                                                Company
                                        Och-Ziff      Other    Economic
                                     Funds Segment Operations    Income
                                     ------------- ----------  ---------

  Economic Income Revenues
    Management fees                       $145,323     $1,311   $146,634
    Incentive income                         1,078          -      1,078
    Other revenues                             727          8        735
                                               ---        ---        ---
    Total Economic Income Revenues         147,128      1,319    148,447
                                           -------      -----    -------

  Economic Income Expenses
    Compensation and benefits               24,481        320     24,801
    Non-compensation expenses               29,397        202     29,599
                                            ------        ---     ------
    Total Economic Income Expenses          53,878        522     54,400
                                            ------        ---     ------

    Net losses on joint ventures (1)             -       (531)      (531)
    Net loss (income) allocated to
     partners' and others' interests
     in income of consolidated
     subsidiaries (2)                            -       (207)      (207)
                                               ---       ----       ----
  Economic Income                          $93,250        $59    $93,309
                                           =======        ===    =======


                                        Six Months Ended June 30, 2009
                                     -----------------------------------
                                                                 Total
                                                                Company
                                        Och-Ziff      Other    Economic
                                     Funds Segment Operations    Income
                                     ------------- ----------  ---------

  Economic Income Revenues
    Management fees                       $176,947     $2,641   $179,588
    Incentive income                           265          -        265
    Other revenues                             445        108        553
                                               ---        ---        ---
    Total Economic Income Revenues         177,657      2,749    180,406
                                           -------      -----    -------

  Economic Income Expenses
    Compensation and benefits               62,963      8,417     71,380
    Non-compensation expenses               45,894      1,906     47,800
                                            ------      -----     ------
    Total Economic Income Expenses         108,857     10,323    119,180
                                           -------     ------    -------

    Net losses on joint ventures (1)             -       (992)      (992)
    Net loss (income) allocated to
     partners' and others' interests
     in income of consolidated
     subsidiaries (2)                            -         75         75
                                               ---        ---        ---
  Economic Income                          $68,800    $(8,491)   $60,309
                                           =======    =======    =======



                                       Six Months Ended June 30, 2008
                                     -----------------------------------
                                                                 Total
                                                                Company
                                        Och-Ziff      Other    Economic
                                     Funds Segment Operations    Income
                                     ------------- ----------  ---------

  Economic Income Revenues
    Management fees                       $290,287     $2,622   $292,909
    Incentive income                         1,110          -      1,110
    Other revenues                           2,230         24      2,254
                                             -----        ---      -----
    Total Economic Income Revenues         293,627      2,646    296,273
                                           -------      -----    -------

  Economic Income Expenses
    Compensation and benefits               48,176        659     48,835
    Non-compensation expenses               64,504        349     64,853
                                            ------        ---     ------
    Total Economic Income Expenses         112,680      1,008    113,688
                                           -------      -----    -------

    Net losses on joint ventures (1)             -     (4,600)    (4,600)
    Net loss (income) allocated to
     partners' and others' interests
     in income of consolidated
     subsidiaries (2)                            -       (417)      (417)
                                               ---       ----       ----
  Economic Income                         $180,947    $(3,379)  $177,568
                                          ========    =======   ========

  (1) Represents the Company's losses in joint ventures established to
      expand certain of the Company's private investments platforms.
  (2) Represents the residual interests in the domestic real estate
      management business not owned by the Company.

  For reconciliations of Economic Income to the Company's U.S. GAAP net
  losses, see Exhibits 3 through 6.



                                Exhibit 3
                  OCH-ZIFF CAPITAL MANAGEMENT GROUP LLC
   Reconciliation of Economic Income to U.S. GAAP Net Loss (Unaudited)
                          (dollars in thousands)




                                   OCH-ZIFF FUNDS SEGMENT
                     -------------------------------------------------
                                     Reconciling
                                   Adjustments (1)
                              -------------------------
                      Economic   Funds                            U.S.
  Three Months Ended   Income   Consol-         Other             GAAP
   June 30, 2009       Basis    idation       Adjustments         Basis
  ------------------  --------  -------       -----------        -------

  Revenues
    Management fees   $84,523    $(55)        $387  (a)        $84,855
    Incentive
     income               265       -            -                 265
    Other revenues        231       -            -                 231
    Income of
     consolidated
     Och-Ziff funds         -       -            -                   -
                          ---     ---          ---                 ---
    Total Revenues     85,019     (55)         387              85,351
                       ------     ---          ---              ------

  Expenses
    Compensation and
     benefits          42,587       -       22,654  (b)(c)      65,241
    Allocations to
     non-equity
     partner
     interests              -       -        4,915  (d)          4,915
    Reorganization
     expenses               -       -      424,736  (e)        424,736
    Profit sharing          -       -          308  (f)            308
    Interest expense    4,060       -            -               4,060
    General,
     administrative
     and other         17,741       -        2,319  (a)(g)      20,060
    Expenses of
     consolidated
     Och-Ziff funds         -       8            -                   8
                          ---     ---          ---                 ---
    Total Expenses     64,388       8      454,932             519,328
                       ------     ---      -------             -------

  Other Income (Loss)
    Net earnings
     (losses) on
     deferred
     balances and
     investments
     in Och-Ziff
     funds and
     joint ventures         -       -       15,727  (h)         15,727
    Gain on early
     retirement of
     debt                   -       -        2,013  (g)          2,013
    Net gains
     (losses) of
     consolidated
     Och-Ziff funds         -    (395)           -                (395)
                          ---    ----          ---                ----
    Total Other
     Income (Loss)          -    (395)      17,740              17,345
                          ---    ----       ------              ------

  Income (Loss)
   Before Income
   Taxes               20,631    (458)    (436,805)           (416,632)
  Income taxes              -       -          387  (g)            387
                          ---     ---          ---                 ---
  Consolidated Net
   Income (Loss)      $20,631   $(458)   $(437,192)          $(417,019)
                      =======   =====    =========           =========

  Net Income (Loss)
   Allocated to
   Partners' and
   Others' Interests
   in Income of
   Consolidated
   Subsidiaries            $-   $(458)   $(339,275) (i)      $(339,733)
                          ===   =====    =========           =========

  Net Income
   (Loss)
   Allocated to
   Class A
   Shareholders       $20,631      $-     $(97,917)           $(77,286)
                      =======     ===     ========            ========



                                      OTHER OPERATIONS
                     ------------------------------------------------
                                       Reconciling
                                     Adjustments (1)
                               -------------------------
                     Economic   Funds                           U.S.
  Three Months Ended  Income   Consol-          Other           GAAP
   June 30, 2009       Basis   idation       Adjustments        Basis
  ------------------ --------  -------       -----------        -----

  Revenues
    Management fees    $1,311       $-           $-             $1,311
    Incentive
     income                 -        -            -                  -
    Other revenues         54        -            -                 54
    Income of
     consolidated
     Och-Ziff funds         -    8,887            -              8,887
                          ---    -----          ---              -----
    Total Revenues      1,365    8,887            -             10,252
                        -----    -----          ---             ------

  Expenses
    Compensation
     and benefits       4,990        -        5,794  (c)        10,784
    Allocations to
     non-equity
     partner
     interests              -        -            -                  -
    Reorganization
     expenses               -        -            -                  -
    Profit sharing          -        -            -                  -
    Interest expense        -        -            -                  -
    General,
     administrative
     and other            886        -          186  (g)         1,072
    Expenses of
     consolidated
     Och-Ziff
     funds                  -    1,134            -              1,134
                          ---    -----          ---              -----
    Total Expenses      5,876    1,134        5,980             12,990
                        -----    -----        -----             ------

  Other Income (Loss)
    Net earnings
     (losses) on
     deferred
     balances and
     investments in
     Och-Ziff
     funds and joint
     ventures            (444)     (83)          83  (h)          (444)
    Gain on early
     retirement of
     debt                   -        -            -                  -
    Net gains
     (losses) of
     consolidated
     Och-Ziff funds         -       20            -                 20
                          ---      ---          ---                ---
    Total Other
     Income (Loss)       (444)     (63)          83               (424)
                         ----      ---          ---               ----

  Income (Loss)
   Before Income
   Taxes               (4,955)   7,690       (5,897)            (3,162)
  Income taxes              -        -           62  (g)            62
                          ---      ---          ---                ---
  Consolidated Net
   Income (Loss)      $(4,955)  $7,690      $(5,959)           $(3,224)
                      =======   ======      =======            =======

  Net Income (Loss)
   Allocated to
   Partners'
   and Others'
   Interests in
   Income of
   Consolidated
   Subsidiaries         $(122)  $7,690         $235  (i)        $7,803
                        =====   ======         ====             ======

  Net Income (Loss)
   Allocated to
   Class A
   Shareholders       $(4,833)      $-      $(6,194)          $(11,027)
                      =======      ===      =======           ========



                                         TOTAL COMPANY
                                      -------------------

                                       Economic
                                       Income   U.S. GAAP
  Three Months Ended June 30, 2009     Basis      Basis
  --------------------------------    --------  ---------

  Revenues
    Management fees                    $85,834    $86,166
    Incentive income                       265        265
    Other revenues                         285        285
    Income of consolidated
     Och-Ziff funds                          -      8,887
                                           ---      -----
    Total Revenues                      86,384     95,603
                                        ------     ------

  Expenses
    Compensation and benefits           47,577     76,025
    Allocations to non-equity
     partner interests                       -      4,915
    Reorganization expenses                  -    424,736
    Profit sharing                           -        308
    Interest expense                     4,060      4,060
    General, administrative
     and other                          18,627     21,132
    Expenses of consolidated
     Och-Ziff funds                          -      1,142
                                           ---      -----
    Total Expenses                      70,264    532,318
                                        ------    -------

  Other Income (Loss)
    Net earnings (losses) on
     deferred balances and
     investments in Och-Ziff
     funds and joint ventures             (444)    15,283
    Gain on early retirement of
     debt                                    -      2,013
    Net gains (losses) of
     consolidated Och-Ziff funds             -       (375)
                                           ---       ----
    Total Other Income (Loss)             (444)    16,921
                                          ----     ------

  Income (Loss)
   Before Income Taxes                  15,676   (419,794)
  Income taxes                               -        449
                                           ---        ---
  Consolidated Net
   Income (Loss)                       $15,676  $(420,243)
                                       =======  =========

  Net Income (Loss) Allocated to
   Partners' and Others' Interests
   in Income of Consolidated
   Subsidiaries                          $(122) $(331,930)
                                         =====  =========

  Net Income (Loss) Allocated to
   Class A Shareholders                $15,798   $(88,313)
                                       =======   ========

  (1) See Exhibit 7 for a description of the adjustments made to arrive at
      total Company U.S. GAAP Net Loss.



                                   Exhibit 4
                     OCH-ZIFF CAPITAL MANAGEMENT GROUP LLC
      Reconciliation of Economic Income to U.S. GAAP Net Loss (Unaudited)
                            (dollars in thousands)




                                        OCH-ZIFF FUNDS SEGMENT
                          -------------------------------------------------
                                           Reconciling
                                         Adjustments (1)
                                   -------------------------
                          Economic  Funds                            U.S.
  Three Months Ended       Income  Consol-         Other             GAAP
   June 30, 2008            Basis  idation       Adjustments         Basis
  ------------------      -------- -------       -----------       --------

  Revenues
    Management fees       $145,323   $(115)          $-            $145,208
    Incentive income         1,078       -            -               1,078
    Other revenues             727       -            -                 727
    Income of
     consolidated
     Och-Ziff funds              -      33            -                  33
                               ---     ---          ---                 ---
    Total Revenues         147,128     (82)           -             147,046
                           -------     ---          ---             -------

  Expenses
   Compensation
    and benefits            24,481       -       26,823  (b)(c)      51,304
    Allocations to non-
     equity partner
     interests                   -       -        4,024  (d)          4,024
    Reorganization
     expenses                    -       -      425,584  (e)        425,584
    Profit sharing               -       -         (597) (f)           (597)
    Interest expense         6,856       -            -               6,856
    General,
     administrative
     and other              22,541       -       10,335  (g)         32,876
    Expenses of
     consolidated
     Och-Ziff funds              -     363            -                 363
                               ---     ---          ---                 ---
    Total Expenses          53,878     363      466,169             520,410
                            ------     ---      -------             -------

  Other Income (Loss)
    Net earnings
     (losses) on
     deferred balances
     and investments
     in Och-Ziff funds
     and joint ventures          -       -        1,525  (h)          1,525
    Net gains (losses)
     of consolidated
     Och-Ziff funds              -  (1,398)           -              (1,398)
                               ---  ------          ---              ------
    Total Other Income
     (Loss)                      -  (1,398)       1,525                 127
                               ---  ------        -----                 ---

  Income (Loss)
   Before Income
   Taxes                    93,250  (1,843)    (464,644)           (373,237)
  Income taxes                   -       -        4,661  (g)          4,661
                               ---     ---        -----               -----
  Consolidated Net
   Income (Loss)           $93,250 $(1,843)   $(469,305)          $(377,898)
                           ======= =======    =========           =========

  Net Income
   (Loss)
   Allocated to
   Partners' and
   Others'
   Interests in
   Income of
   Consolidated
   Subsidiaries                 $- $(1,843)   $(316,237)  (i)     $(318,080)
                               === =======    =========           =========

  Net Income
   (Loss)
   Allocated to
   Class A
   Shareholders            $93,250      $-    $(153,068)           $(59,818)
                           =======     ===    =========            ========



                                            OTHER OPERATIONS
                           ------------------------------------------------
                                           Reconciling
                                          Adjustments (1)
                                      -------------------------

                            Economic   Funds                         U.S.
  Three Months Ended         Income   Consol-          Other         GAAP
   June 30, 2008              Basis   idation       Adjustments      Basis
  ------------------        --------  -------       -----------      -----

  Revenues
    Management fees           $1,311       $-           $-          $1,311
    Incentive income               -        -            -               -
    Other revenues                 8        -            -               8
    Income of
     consolidated
     Och-Ziff funds                -    4,852            -           4,852
                                 ---    -----          ---           -----
    Total Revenues             1,319    4,852            -           6,171
                               -----    -----          ---           -----

  Expenses
    Compensation and
     benefits                    320        -          432  (c)        752
    Allocations to
     non-equity
     partner
     interests                     -        -            -               -
    Reorganization expenses        -        -            -               -
    Profit sharing                 -        -            -               -
    Interest expense               -        -            -               -
    General, administrative
     and other                   202        -          186  (g)        388
    Expenses of
     consolidated
     Och-Ziff funds                -      634            -             634
                                 ---      ---          ---             ---
    Total Expenses               522      634          618           1,774
                                 ---      ---          ---           -----

  Other Income (Loss)
    Net earnings
     (losses) on
     deferred
     balances and
     investments in
     Och-Ziff funds
     and joint
     ventures                   (531)     (61)          60  (h)       (531)
    Net gains (losses)
     of consolidated
     Och-Ziff funds                -    1,808            -           1,808
                                 ---    -----          ---           -----
    Total Other Income
     (Loss)                     (531)   1,747           60           1,277
                                ----    -----          ---           -----

  Income (Loss) Before
   Income Taxes                  266    5,965         (558)          5,674
  Income taxes                     -        -           74  (g)         74
                                 ---      ---          ---             ---
  Consolidated Net Income
   (Loss)                       $266   $5,965        $(632)         $5,600
                                ====   ======        =====          ======

  Net Income (Loss)
   Allocated to
   Partners' and
   Others'
   Interests in
   Income of
   Consolidated
   Subsidiaries                 $207   $5,965         $411  (i)     $6,583
                                ====   ======         ====          ======

  Net Income (Loss)
   Allocated to Class A
   Shareholders                  $59       $-      $(1,043)          $(983)
                                 ===      ===      =======           =====




                                              TOTAL COMPANY
                                           -------------------

                                           Economic
                                            Income   U.S. GAAP
  Three Months Ended June 30, 2008           Basis     Basis
  --------------------------------         --------  ---------

  Revenues
    Management fees                        $146,634   $146,519
    Incentive income                          1,078      1,078
    Other revenues                              735        735
    Income of consolidated Och-Ziff funds         -      4,885
                                                ---      -----
    Total Revenues                          148,447    153,217
                                            -------    -------

  Expenses
    Compensation and benefits                24,801     52,056
    Allocations to non-equity partner
     interests                                    -      4,024
    Reorganization expenses                       -    425,584
    Profit sharing                                -       (597)
    Interest expense                          6,856      6,856
    General, administrative and other        22,743     33,264
    Expenses of consolidated Och-Ziff
     funds                                        -        997
                                                ---        ---
    Total Expenses                           54,400    522,184
                                             ------    -------

  Other Income (Loss)
    Net earnings (losses) on deferred
     balances and investments in Och-Ziff
     funds and joint ventures                  (531)       994
    Net gains (losses) of consolidated
     Och-Ziff funds                               -        410
                                                ---        ---
    Total Other Income (Loss)                  (531)     1,404
                                               ----      -----

  Income (Loss) Before Income Taxes          93,516   (367,563)
  Income taxes                                    -      4,735
                                                ---      -----
  Consolidated Net Income (Loss)            $93,516  $(372,298)
                                            =======  =========

  Net Income (Loss) Allocated to
   Partners' and Others' Interests in
   Income of Consolidated Subsidiaries         $207  $(311,497)
                                               ====  =========

  Net Income (Loss) Allocated to
   Class A Shareholders                     $93,309   $(60,801)
                                            =======   ========

  (1) See Exhibit 7 for a description of the adjustments made to arrive
      at total Company U.S. GAAP Net Loss.



                                    Exhibit 5
                      OCH-ZIFF CAPITAL MANAGEMENT GROUP LLC
       Reconciliation of Economic Income to U.S. GAAP Net Loss (Unaudited)
                              (dollars in thousands)




                                           OCH-ZIFF FUNDS SEGMENT
                             ---------------------------------------------
                                              Reconciling
                                            Adjustments (1)
                                      -------------------------
                             Economic  Funds                         U.S.
  Six Months Ended            Income  Consol-         Other          GAAP
   June 30,2009                Basis  idation       Adjustments      Basis
  ----------------           -------- -------       -----------      -----

  Revenues
    Management fees          $176,947   $(111)      $1,013  (a)   $177,849
    Incentive income              265       -            -             265
    Other revenues                445       -            -             445
    Income of consolidated
     Och-Ziff funds                 -       -            -               -
                                  ---     ---          ---             ---
    Total Revenues            177,657    (111)       1,013         178,559
                              -------    ----        -----         -------

  Expenses
    Compensation and
     benefits                  62,963       -       45,468  (b)(c) 108,431
    Allocations
     to non-
     equity
     partner
     interests                      -       -        4,575  (d)      4,575
    Reorganization expenses         -       -      844,685  (e)    844,685
    Profit sharing                  -       -          291  (f)        291
    Interest expense            8,655       -            -           8,655
    General,
     administrative and
     other                     37,239       -        3,866  (a)(g)  41,105
    Expenses of consolidated
     Och-Ziff funds                 -       8            -               8
                                  ---     ---          ---             ---
    Total Expenses            108,857       8      898,885       1,007,750
                              -------     ---      -------       ---------

  Other Income (Loss)
    Net earnings
     (losses) on
     deferred
     balances and
     investments
     in Och-Ziff
     funds and
     joint ventures                 -       -        4,728 (h)       4,728
    Gain on early retirement
     of debt                        -       -        2,013 (g)       2,013
    Net gains
     (losses) of
     consolidated
     Och-Ziff funds                 -  (1,687)           -          (1,687)
                                  ---  ------          ---          ------
    Total Other
     Income (Loss)                  -  (1,687)       6,741           5,054
                                  ---  ------        -----           -----

  Income (Loss)
   Before Income
   Taxes                       68,800  (1,806)    (891,131)       (824,137)
  Income taxes                      -       -        3,175  (g)      3,175
                                  ---     ---        -----           -----
  Consolidated Net
   Income (Loss)              $68,800 $(1,806)   $(894,306)      $(827,312)
                              ======= =======    =========       =========

  Net Income (Loss)
   Allocated to
   Partners'
   and Others'
   Interests in
   Income of
   Consolidated
   Subsidiaries                    $- $(1,806)   $(675,484) (i)  $(677,290)
                                  === =======    =========       =========

  Net Income (Loss)
   Allocated to Class A
   Shareholders               $68,800      $-    $(218,822)      $(150,022)
                              =======     ===    =========       =========



                                              OTHER OPERATIONS
                             ----------------------------------------------
                                            Reconciling
                                           Adjustments (1)
                                       -------------------------
                             Economic   Funds                          U.S.
  Six Months Ended            Income   Consol-          Other          GAAP
   June 30, 2009               Basis   idation       Adjustments      Basis
  ----------------           --------  -------       -----------      -----

  Revenues
    Management fees            $2,641     $(19)          $-          $2,622
    Incentive income                -        -            -               -
    Other revenues                108        -            -             108
    Income of consolidated
     Och-Ziff funds                 -   11,502            -          11,502
                                  ---   ------          ---          ------
    Total Revenues              2,749   11,483            -          14,232
                                -----   ------          ---          ------

  Expenses
    Compensation and
     benefits                   8,417        -       11,053  (c)     19,470
    Allocations to non-
     equity
     partner interests              -        -            -               -
    Reorganization expenses         -        -            -               -
    Profit sharing                  -        -            -               -
    Interest expense                -        -            -               -
    General, administrative
     and other                  1,906        -          371  (g)      2,277
    Expenses of
     consolidated
     Och-Ziff funds                 -    1,888            -           1,888
                                  ---    -----          ---           -----
    Total Expenses             10,323    1,888       11,424          23,635
                               ------    -----       ------          ------

  Other Income (Loss)
    Net earnings (losses)
     on deferred
     balances and
     investments in
     Och-Ziff funds and joint
     ventures                    (992)    (117)         117  (h)       (992)
    Gain on early
     retirement of debt             -        -            -               -
    Net gains (losses) of
     consolidated
     Och-Ziff funds                 -    1,589            -           1,589
                                  ---    -----          ---           -----
    Total Other Income
     (Loss)                      (992)   1,472          117             597
                                 ----    -----          ---             ---

  Income (Loss) Before
   Income Taxes                (8,566)  11,067      (11,307)         (8,806)
  Income taxes                      -        -          103  (g)        103
                                  ---      ---          ---             ---
  Consolidated Net Income
   (Loss)                     $(8,566) $11,067     $(11,410)        $(8,909)
                              =======  =======     ========         =======

  Net Income (Loss)
   Allocated to
   Partners' and Others'
   Interests in Income
   of Consolidated
   Subsidiaries                  $(75) $11,067         $244  (i)    $11,236
                                 ====  =======         ====         =======

  Net Income (Loss)
   Allocated to
   Class A Shareholders       $(8,491)      $-     $(11,654)       $(20,145)
                              =======       ==     ========        ========



                                          TOTAL COMPANY
                                       ------------------

                                       Economic
                                       Income   U.S. GAAP
  Six Months Ended June 30, 2009       Basis      Basis
  ------------------------------      --------  ---------

  Revenues
    Management fees                   $179,588   $180,471
    Incentive income                       265        265
    Other revenues                         553        553
    Income of consolidated
     Och-Ziff funds                          -     11,502
                                           ---     ------
    Total Revenues                     180,406    192,791
                                       -------    -------

  Expenses
    Compensation and benefits           71,380    127,901
    Allocations to non-equity
     partner interests                       -      4,575
    Reorganization expenses                  -    844,685
    Profit sharing                           -        291
    Interest expense                     8,655      8,655
    General, administrative
     and other                          39,145     43,382
    Expenses of consolidated Och-Ziff
     funds                                   -      1,896
                                           ---      -----
    Total Expenses                     119,180  1,031,385
                                       -------  ---------

  Other Income (Loss)
    Net earnings (losses) on
     deferred balances and
     investments in Och-Ziff funds
     and joint ventures                  (992)     3,736
    Gain on early retirement of debt        -      2,013
    Net gains (losses) of
     consolidated Och-Ziff funds            -        (98)
                                          ---        ---
    Total Other Income (Loss)            (992)     5,651
                                         ----      -----

  Income (Loss) Before Income Taxes    60,234   (832,943)
  Income taxes                              -      3,278
                                          ---      -----
  Consolidated Net Income (Loss)      $60,234  $(836,221)
                                      =======  =========

  Net Income (Loss) Allocated to
   Partners' and Others' Interests
   in Income of Consolidated
   Subsidiaries                          $(75) $(666,054)
                                         ====  =========

  Net Income (Loss) Allocated to
   Class A Shareholders               $60,309  $(170,167)
                                      =======  =========

  (1) See Exhibit 7 for a description of the  adjustments made
      to arrive at total Company U.S. GAAP Net Loss.



                                  Exhibit 6
                    OCH-ZIFF CAPITAL MANAGEMENT GROUP LLC
     Reconciliation of Economic Income to U.S. GAAP Net Loss (Unaudited)
                            (dollars in thousands)




                                      OCH-ZIFF FUNDS SEGMENT
                       --------------------------------------------------
                                       Reconciling
                                       Adjustments (1)
                                 -------------------------
                       Economic   Funds                            U.S.
  Six Months Ended      Income   Consol-          Other            GAAP
   June 30,2008          Basis   idation       Adjustments         Basis
  ----------------     --------  -------       -----------       --------

  Revenues
    Management fees    $290,287    $(115)          $-            $290,172
    Incentive income      1,110        -            -               1,110
    Other revenues        2,230        -            -               2,230
    Income of
     consolidated
     Och-Ziff
     funds                    -       34            -                  34
                            ---      ---          ---                 ---
    Total Revenues      293,627      (81)           -             293,546
                        -------      ---          ---             -------

  Expenses
    Compensation and
     benefits            48,176        -       55,744  (b)(c)     103,920
    Allocations to
     non-equity
     partner
     interests                -        -        2,174  (d)          2,174
    Reorganization
     expenses                 -        -      851,168  (e)        851,168
    Profit sharing            -        -       (1,431) (f)         (1,431)
    Interest expense     17,673        -            -              17,673
    General,
     administrative
     and other           46,831        -       11,486  (g)         58,317
    Expenses of
     consolidated
     Och-Ziff funds           -      363            -                 363
                            ---      ---          ---                 ---
    Total Expenses      112,680      363      919,141           1,032,184
                        -------      ---      -------           ---------

  Other Income (Loss)
    Net earnings
     (losses) on
     deferred
     balances and
     investments in
     Och-Ziff funds
     and joint
     ventures                 -        -          430   (h)            430
    Net gains
     (losses) of
     consolidated Och-
     Ziff funds               -   (1,405)           -               (1,405)
                            ---   ------          ---               ------
    Total Other
     Income (Loss)            -   (1,405)         430                 (975)
                            ---   ------          ---                 ----

  Income (Loss)
   Before
   Income Taxes         180,947   (1,849)    (918,711)            (739,613)
  Income taxes                -        -        7,754   (g)          7,754
                            ---      ---        -----                -----
  Consolidated Net
  Income (Loss)        $180,947  $(1,849)   $(926,465)           $(747,367)
                       ========  =======    =========            =========

  Net Income
   (Loss)
   Allocated to
   Partners' and
   Others'
   Interests in
   Income of
   Consolidated
   Subsidiaries              $-  $(1,849)   $(421,392)  (i)      $(423,241)
                            ===  =======    =========            =========

  Net Income (Loss)
   Allocated to
   Class A
   Shareholders        $180,947       $-    $(505,073)           $(324,126)
                       ========      ===    =========            =========


                                         OTHER OPERATIONS
                       ---------------------------------------------------

                                        Reconciling
                                      Adjustments (1)
                                 ------------------------
                       Economic   Funds                             U.S.
  Six Months Ended      Income   Consol-          Other             GAAP
   June 30, 2008         Basis   idation       Adjustments          Basis
  ----------------     --------  -------       -----------         -------

  Revenues
    Management fees      $2,622       $-           $-               $2,622
    Incentive income          -        -            -                    -
    Other revenues           24        -            -                   24
    Income of
     consolidated
     Och-Ziff
     funds                    -    4,852            -                4,852
                            ---    -----          ---                -----
    Total Revenues        2,646    4,852            -                7,498
                          -----    -----          ---                -----

  Expenses
    Compensation and
     benefits               659        -          432  (c)           1,091
    Allocations to
     non-equity
     partner
     interests                -        -            -                    -
    Reorganization
     expenses                 -        -            -                    -
    Profit sharing            -        -            -                    -
    Interest expense          -        -            -                    -
    General,
     administrative
     and other              349        -          373  (g)             722
    Expenses of
     consolidated
     Och-Ziff funds           -      994            -                  994
                            ---      ---          ---                  ---
    Total Expenses        1,008      994          805                2,807
                          -----      ---          ---                -----

  Other Income (Loss)
    Net earnings
     (losses) on
     deferred
     balances and
     investments in
     Och-Ziff funds
     and joint
     ventures            (4,600)     (48)          47  (h)          (4,600)
    Net gains
     (losses) of
     consolidated
     Och-Ziff funds           -      902            -                  902
                            ---      ---          ---                  ---
    Total Other
     Income (Loss)       (4,600)     854           47               (3,698)
                         ------      ---          ---               ------

  Income (Loss)
   Before Income
   Taxes                 (2,962)   4,712         (758)                 993
  Income taxes                -        -          207  (g)             207
                            ---      ---          ---                  ---
  Consolidated Net
  Income (Loss)         $(2,962)  $4,712        $(965)                $786
                        =======   ======        =====                 ====

  Net Income (Loss)
   Allocated to
   Partners' and
   Others'
   Interests in
   Income of
   Consolidated
   Subsidiaries            $417   $4,712         $450  (i)          $5,579
                           ====   ======         ====               ======

  Net Income (Loss)
   Allocated to
   Class A
   Shareholders         $(3,379)      $-      $(1,415)             $(4,793)
                        =======      ===      =======              =======



                                        TOTAL COMPANY
                                     -------------------

                                     Economic
                                      Income   U.S. GAAP
  Six Months Ended June 30, 2008       Basis     Basis
  ------------------------------     --------  ---------

  Revenues
    Management fees                  $292,909   $292,794
    Incentive income                    1,110      1,110
    Other revenues                      2,254      2,254
    Income of consolidated
     Och-Ziff funds                         -      4,886
                                          ---      -----
    Total Revenues                    296,273    301,044
                                      -------    -------

  Expenses
    Compensation and benefits          48,835    105,011
    Allocations to  non-equity
     partner interests                      -      2,174
    Reorganization expenses                 -    851,168
    Profit sharing                          -     (1,431)
    Interest expense                   17,673     17,673
    General, administrative
     and other                         47,180     59,039
    Expenses of consolidated
     Och-Ziff funds                         -      1,357
                                          ---      -----
    Total Expenses                    113,688  1,034,991
                                      -------  ---------

  Other Income (Loss)
    Net earnings (losses) on
     deferred balances
     and investments in
     Och-Ziff funds and joint
     ventures                          (4,600)    (4,170)
    Net gains (losses) of
     consolidated Och-Ziff funds            -       (503)
                                          ---       ----
    Total Other Income (Loss)          (4,600)    (4,673)
                                       ------     ------

  Income (Loss) Before Income Taxes   177,985   (738,620)
  Income taxes                              -      7,961
                                          ---      -----
  Consolidated Net Income (Loss)     $177,985  $(746,581)
                                     ========  =========

  Net Income (Loss) Allocated to
   Partners' and Others' Interests
   in Income of Consolidated
   Subsidiaries                          $417  $(417,662)
                                         ====  =========

  Net Income (Loss) Allocated to
   Class A Shareholders              $177,568  $(328,919)
                                     ========  =========

  (1) See Exhibit 7 for a description of the adjustments made
      to arrive at total Company U.S. GAAP Net Loss.



                                       Exhibit 7
                         OCH-ZIFF CAPITAL MANAGEMENT GROUP LLC
          Description of Adjustments Made to Reconcile Economic Income to
                                 U.S. GAAP Net Loss



  Funds Consolidation
  Economic Income excludes the impacts of consolidated Och-Ziff funds,
  including the related eliminations.

  Other Adjustments
  (a) Economic Income presents management fees net of recurring placement
  and related service fees on assets under management, as management
  considers these fees a reduction in management fees, not an expense.

  (b) Economic Income recognizes deferred cash compensation expense in the
  period in which it is awarded, as management determines the total amount
  of compensation based on the Company's performance in the year of the
  award.

  (c) Economic Income excludes equity-based compensation expense, as
  management does not consider these non-cash expenses when evaluating the
  performance of the Company.

  (d) Economic Income excludes allocations to non-equity partner interests.
  Management reviewed the performance of the Company before it made any
  allocations to the Company's non-equity founding partners for periods
  prior to the Reorganization.  For these periods, allocations to the
  founding partners, other than Mr. Och, were treated as expenses for U.S.
  GAAP purposes.  Following the Reorganization, only allocations related to
  earnings on previously deferred incentive income allocations to non-equity
  partner interests are incurred and these allocations are excluded from
  Economic Income.

  (e) Economic Income excludes Reorganization expenses, which are non-cash
  expenses directly attributable to the reclassification of interests held
  by the founding partners and the Ziffs prior to the Reorganization as
  Och-Ziff Operating Group A Units.

  (f) Economic Income excludes the profit sharing expense related to the
  Ziffs' interest in the Company.  Management reviewed the performance of
  the Company before it made any allocations to the Ziffs for periods prior
  to the Reorganization.  Following the Reorganization, only profit sharing
  expense related to the allocation of earnings on previously deferred
  incentive income allocations to the Ziffs are incurred and these
  allocations are excluded from Economic Income.

  (g) Economic Income excludes depreciation, changes in the tax receivable
  agreement liability, gain on early retirement of debt and income taxes, as
  management does not consider these items when evaluating the performance
  of the Company.

  (h) Economic Income excludes the net earnings (losses) on the deferred
  income receivable from Och-Ziff funds and net earnings (losses) on
  investments in Och-Ziff funds, as these amounts primarily relate to
  earnings (losses) on amounts due to affiliates for deferred or reinvested
  incentive income previously allocated to the founding partners and the
  Ziffs, and earnings (losses) on amounts due to employees under deferred
  cash compensation arrangements.

  (i) Economic Income excludes amounts allocated to the partners and the
  Ziffs on their interests in the Och-Ziff Operating Group, as management
  reviews the performance of the Company at the Och-Ziff Operating Group
  level.  The Company conducts substantially all of its activities through
  the Och-Ziff Operating Group.  Additionally, Economic Income excludes
  amounts allocated to investors in consolidated Och-Ziff funds, as Economic
  Income excludes the impacts of consolidated Och-Ziff funds.



                                 Exhibit 8
                   OCH-ZIFF CAPITAL MANAGEMENT GROUP LLC
        Reconciliation of Economic Income to Distributable Earnings
                                (Unaudited)
             (dollars in thousands, except per share amounts)



                                                   Three Months Ended
                                                        June 30,
                                                -----------------------
                                                      2009         2008
                                                      ----         ----
  Total Company Economic Income (1)                $15,798      $93,309
  Adjusted Income Taxes (2)                         (3,216)     (39,466)
                                                    ------      -------
  Distributable Earnings                           $12,582      $53,843
                                                   =======      =======


  Distributable Earnings                           $12,582      $53,843
  Weighted-Average Adjusted Class A Shares (3) 402,997,072  399,983,913
                                               -----------  -----------
  Distributable Earnings Per Share                   $0.03        $0.13
                                                     =====        =====

                                                 Six Months Ended June
                                                          30,
                                                 ---------------------
                                                      2009         2008
                                                      ----         ----
  Total Company Economic Income (1)                $60,309     $177,568
  Adjusted Income Taxes (2)                        (20,541)     (74,012)
                                                   -------      -------
  Distributable Earnings                           $39,768     $103,556
                                                   =======     ========


  Distributable Earnings                           $39,768     $103,556
  Weighted-Average Adjusted Class A Shares (4) 403,055,195  399,852,742
                                               -----------  -----------
  Distributable Earnings Per Share                   $0.10        $0.26
                                                     =====        =====

  (1) For reconciliations of Total Company Economic Income to the Company's
      U.S. GAAP net losses, see Exhibits 3 through 6.

  (2) Presents an estimate of income tax expense by assuming the conversion
      of all outstanding Group A Units into Class A Shares, on a one-to-one
      basis.

  (3) Includes 76,804,771 and 74,138,572 weighted-average Class A Shares,
      and assumes the conversion of 310,830,111 and 311,099,524
      weighted-average Group A Units held by the Company's partners and the
      Ziffs and 15,362,190 and 14,745,817 weighted-average RSUs for the
      three months ended June 30, 2009 and 2008, respectively, into Class A
      Shares on a one-to-one basis.

  (4) Includes 76,676,699 and 74,138,572 weighted-average Class A Shares,
      and assumes the conversion of 310,964,074 and 311,099,524
      weighted-average Group A Units held by the Company's partners and the
      Ziffs and 15,414,422 and 14,614,646 weighted-average RSUs for the six
      months ended June 30, 2009 and 2008, respectively, into Class A Shares
      on a one-to-one basis.



                                  Exhibit 9
                    OCH-ZIFF CAPITAL MANAGEMENT GROUP LLC
                       Financial Supplement (Unaudited)
                            (dollars in millions)

                                             Three Months     Six Months
                                            Ended June 30,  Ended June 30,
                                            --------------  --------------
                                                 2009            2009
                                            --------------  --------------

  Total Assets
   Under Management (1)
    Beginning of Period Balance                    $22,601         $26,955
    Net Flows                                       (2,135)         (7,222)
    Appreciation (Depreciation) (2)                  1,454           2,187
                                                     -----           -----
    End of Period Balance                          $21,920         $21,920
                                                   =======         =======

  Total Assets Under
   Management by Fund
    OZ Master Fund                                                 $14,447
    OZ Europe Master Fund                                            2,960
    OZ Asia Master Fund                                              1,393
    OZ Global Special
     Investments Master
     Fund                                                            1,940

  Och-Ziff Funds -
   Net Returns (3)
    OZ Master Fund                                     7.6%           12.3%
    OZ Europe Master Fund                              7.2%            7.0%
    OZ Asia Master Fund                                8.5%           13.2%
    OZ Global Special
     Investments Master
     Fund                                              2.9%            3.6%


                                      Year Ended December 31,
                               -----------------------------------
                                 2008     2007     2006     2005
                               -------   ------   ------   -------

  Total Assets Under
    Management (1)
    Beginning of Period
     Balance                   $33,387  $22,621  $15,627  $11,251
    Net Flows                     (722)   7,591    4,135    3,117
    Appreciation
     (Depreciation) (2)         (5,710)   3,175    2,859    1,259
                                ------    -----    -----    -----
    End of Period Balance      $26,955  $33,387  $22,621  $15,627
                               =======  =======  =======  =======

  Total Assets Under
   Management by Fund
    OZ Master Fund             $16,396  $19,771  $15,449  $12,001
    OZ Europe Master Fund        5,084    6,416    3,481    1,887
    OZ Asia Master Fund          2,439    3,852    2,332      605
    OZ Global Special
     Investments
     Master Fund                 1,910    2,082      195       43

  Och-Ziff Funds -
   Net Returns (3)
    OZ Master Fund               -15.9%    11.5%    14.8%     8.8%
    OZ Europe Master Fund        -17.4%    14.8%    22.3%    15.7%
    OZ Asia Master Fund          -30.9%    12.2%    14.0%    14.2%
    OZ Global Special
     Investments
     Master Fund                  -8.3%    17.2%    13.9%     0.2%

  (1) Includes deferred incentive income receivable from the offshore funds
      and amounts invested by the Company, its partners and certain other
      affiliated parties for which the Company charged no management fees
      and received no incentive income for the periods presented.  Amounts
      presented in this table are not the amounts used to calculate
      Management Fees and Incentive Income for the respective periods.

  (2) Appreciation (depreciation) reflects the aggregate net capital
      appreciation (depreciation) for the entire period and is presented on
      a total return basis, net of all fees and expenses (except incentive
      income on certain unrealized private investments that could reduce
      returns on these investments at the time of realization), and includes
      the reinvestment of all dividends and income.  Management Fees and
      Incentive Income vary by product.  Past performance is no guarantee of
      future results.

  (3) Reflects a composite of the monthly return and year-to-date return for
      the feeder funds comprising each of the Company's most significant
      master funds and is presented on a total return basis, net of all fees
      and expenses of the relevant fund (except incentive income on certain
      unrealized special investments that could reduce returns at the time
      of realization), and includes the reinvestment of all dividends and
      income.  Performance includes realized and unrealized gains and losses
      attributable to certain private and initial public offering
      investments that are not allocated to all investors in the funds.
      Investors that do not participate in such investments or that pay
      different fees may experience materially different returns.  Past
      performance is no guarantee of future results.



                              Exhibit 10
                OCH-ZIFF CAPITAL MANAGEMENT GROUP LLC
              Returns of OZ Master Fund During Negative
                    Return Months of S&P 500 Index
                             (Unaudited)



                 Number of      Total Return     Total Return of
                 Months of       of S&P 500      OZ Master Fund
                  Negative         During        During Negative
                 Returns of       Negative        Return Months
     Year          S&P 500      Return Months      of S&P 500
  ----------    -----------    --------------    --------------
     1994            3             -8.5%              1.7%
     1995            1             -0.4%              0.1%
     1996            2             -6.4%              3.9%
     1997            3            -13.1%              4.0%
     1998            3            -17.2%             -2.7%
     1999            5            -11.8%              6.2%
     2000            8            -27.1%             12.0%
     2001            6            -33.2%              0.4%
     2002            8            -41.9%             -5.0%
     2003            3             -5.2%              4.6%
     2004            3             -6.4%              1.1%
     2005            5             -8.7%              0.7%
     2006            1             -2.9%              0.5%
     2007            5            -11.6%              1.4%
     2008            8            -51.8%            -16.3%
     1H 2009         2            -19.1%              3.4%


  Distribution of Net Monthly Returns since April 1, 1994
  -------------------------------------------------------

             Net Monthly Return    Number of
              of OZ Master Fund      Months
              -----------------      ------
                less than -3%           5
                 -2% to -3%             2
                 -1% to -2%             3
                  0% to -1%            17
                  0% to 1%             61
                  1% to 2%             45
                  2% to 3%             30
                  3% to 4%             12
                  4% to 5%              5
               greater than 5%          3

  Total net return for the OZ Master Fund (the "Fund") represents a
  composite of the average return of the feeder funds that comprise the
  Fund.  Returns are presented on a total return basis, net of all fees and
  expenses (except incentive income on certain unrealized private
  investments that could reduce returns on these investments at the time of
  realization), and include the reinvestment of all dividends and income.
  Performance includes realized and unrealized gains and losses attributable
  to certain private and initial public offering investments that are not
  allocated to all investors in the Fund.  Investors that do not participate
  in such investments or that pay different fees may experience materially
  different returns.  Past performance is no guarantee of future results.
  For the period from 1994 through 1997, performance represents the
  performance of Och-Ziff Capital Management, L.P., a Delaware limited
  partnership that was managed by Daniel Och following an investment
  strategy that is substantially similar to that of the Fund.  In addition,
  during this period, performance was calculated by deducting Management
  Fees on a quarterly basis and Incentive Income on a monthly basis.
  Beginning January 1998, performance has been calculated by deducting both
  Management Fees and Incentive Income on a monthly basis from the composite
  returns of the Fund.

  Readers should not assume that there is any material overlap between those
  securities in the portfolio of the Fund and those that comprise the S&P
  500 Index.  It is not possible to invest directly in the S&P 500 Index.
  Returns of the S&P 500 Index have not been reduced by fees and expenses
  associated with investing in securities and include the reinvestment of
  dividends.  The S&P 500 Index is an equity index owned and maintained by
  Standard & Poor's, a division of McGraw-Hill, whose value is calculated as
  the free float-weighted average of the share prices of 500 large-cap
  corporations listed on the NYSE and Nasdaq.  The comparison of S&P 500
  Index performance relative to the Fund's performance during months in
  which the S&P 500 Index declined is for the limited purpose of
  illustrating how the Fund has performed during periods of declines in the
  broad equity market.  It should not be considered an indication of how the
  Fund will perform relative to the S&P 500 Index in the future.

  Please note that the Fund's investment objective is not to beat the S&P
  500 Index.  Furthermore, the Fund's performance has frequently trailed
  that of the S&P 500 Index in periods of positive performance.



                                 Exhibit 11
                   OCH-ZIFF CAPITAL MANAGEMENT GROUP LLC
                      Fund Performance (Unaudited) (1)


                                              2008
                           ---------------------------------------------
                           January  February   March     April       May
                           -------  --------   -----     -----     -----

  Och-Ziff Funds - Net
   Returns
  OZ Master Fund             -1.12%     1.02%  -0.73%      0.96%    1.11%
  OZ Europe Master Fund      -2.00%     0.81%  -0.54%      0.31%    1.69%
  OZ Asia Master Fund        -1.95%     1.78%  -2.41%     -0.18%   -0.16%
  OZ Global Special
   Investments Master Fund   -0.72%     0.57%  -0.45%      0.64%    0.43%

  S&P 500 Index - Total
   Return (2)                -6.00%    -3.25%  -0.43%      4.87%    1.30%


                                                2008
                             --------------------------------------------
                              June     July    August  September  October
                             -----     ----    ------  ---------  -------

  Och-Ziff Funds - Net
   Returns
  OZ Master Fund             -0.45%    -0.59%  -0.58%     -5.41%   -6.71%
  OZ Europe Master Fund       0.20%    -1.35%  -0.38%     -7.22%   -5.12%
  OZ Asia Master Fund        -2.19%    -1.17%  -4.18%     -7.53%  -11.76%
  OZ Global Special
   Investments Master Fund   -0.34%     0.06%  -0.45%     -2.73%   -2.60%

  S&P 500 Index - Total
   Return (2)                -8.43%    -0.84%   1.45%     -8.91%  -16.80%


                                              2008
                                   --------------------------
                                   November  December  FY2008
                                   --------  --------  ------

  Och-Ziff Funds - Net Returns
  OZ Master Fund                      -2.35%    -2.02% -15.92%
  OZ Europe Master Fund               -2.67%    -2.31% -17.39%
  OZ Asia Master Fund                 -1.69%    -4.13% -30.86%
  OZ Global Special Investments
   Master Fund                        -1.72%    -1.22%  -8.27%

  S&P 500 Index - Total Return (2)    -7.18%     1.06% -37.00%


                                               2009
                                --------------------------------
                                January  February  March     1Q
                                -------  --------  -----    ----

  Och-Ziff Funds - Net Returns
  OZ Master Fund                   3.09%     0.35%  0.88%   4.36%
  OZ Europe Master Fund            0.98%    -1.09% -0.04%  -0.16%
  OZ Asia Master Fund              2.70%     1.22%  0.38%   4.35%
  OZ Global Special Investments
   Master Fund                     0.84%    -0.49%  0.35%   0.70%

  S&P 500 Index - Total
   Return (2)                     -8.43%   -10.65%  8.76% -11.01%


                                                  2009
                                 -------------------------------------
                                  April    May    June     2Q     YTD
                                 -------  -----  ------   ----   -----

  Och-Ziff Funds - Net Returns
  OZ Master Fund                  1.86%    3.42%   2.14%  7.60%  12.29%
  OZ Europe Master Fund           2.48%    3.32%   1.24%  7.20%   7.02%
  OZ Asia Master Fund             3.09%    4.62%   0.58%  8.48%  13.19%
  OZ Global Special Investments
   Master Fund                    0.00%    1.97%   0.88%  2.87%   3.58%

  S&P 500 Index - Total
   Return (2)                     9.57%    5.59%   0.20% 15.93%   3.16%

  (1) Fund performance reflects a composite of the return for the feeder
      funds comprising each of the Company's most significant master funds
      and is presented on a total return basis, net of all fees and expenses
      of the relevant fund (except incentive income on certain unrealized
      private investments that could reduce returns on these investments at
      the time of realization), and includes the reinvestment of all
      dividends and income.  Performance includes realized and unrealized
      gains and losses attributable to certain private and initial public
      offering investments that are not allocated to all investors in the
      funds.  Investors that do not participate in such investments or that
      pay different fees may experience materially different returns.  Past
      performance is no guarantee of future results.

  (2) Readers should not assume that there is any material overlap between
      those securities in the portfolios of the funds and those that
      comprise the S&P 500 Index. It is not possible to invest directly in
      the S&P 500 Index. Returns of the S&P 500 Index have not been reduced
      by fees and expenses associated with investing in securities and
      include the reinvestment of dividends. The S&P 500 Index is an equity
      index owned and maintained by Standard & Poor's, a division of
      McGraw-Hill, whose value is calculated as the free float-weighted
      average of the share prices of 500 large-cap corporations listed on
      the NYSE and Nasdaq. The comparison of S&P 500 performance relative to
      the funds' performance should not be considered an indication of how
      the fund will perform  relative to the S&P 500 in the future. Please
      note that the funds' investment objective is not to beat the S&P 500
      Index. Furthermore, the funds' performance has frequently trailed
      that of the S&P 500 Index in periods of positive performance.


DATASOURCE: Och-Ziff Capital Management Group LLC



CONTACT:  Investor Relations, Tina Madon, Managing Director, Head of

Investor Relations, Och-Ziff Capital Management Group LLC, [phone],

; or Media Relations, Steve Bruce or Chuck Dohrenwend,

both of The Abernathy MacGregor Group, for Och-Ziff Capital Management Group

LLC, [phone]



Web Site:  http://www.ozcap.com/ 

Copyright