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    Darby Private Equity Fund Exits China-based Furniture Maker and Exporter

    Darby's 12th exit in Asia

    Hong Kong and Washington, DC, January 21, 2015 - Darby Private Equity ("Darby"), the private equity arm of Franklin Templeton Investments and a leading provider of private equity and mezzanine capital in the emerging markets, announced that its Darby Asia Mezzanine Fund II ("DAMF II") has exited its investment in Shayne International Holdings Limited ("Shayne").

    Based in Hangzhou, China, Shayne is a well-established manufacturer and exporter of high-end upholstered furniture and leather apparel, selling mainly to the US, where its customers include well known furniture retailers and department stores. The company's manufacturing operation was originally based in Taiwan and was subsequently moved to China in 1988. Darby invested in Shayne in 2006, providing expansion capital in the form of notes and warrants.

    Simon Sham, Darby Managing Director, commented, "We are privileged to have had the opportunity to invest in such a high quality business and witness the growth and transformation of the company over the years."

    Jay Shane, Managing Director of Shayne, said, "It has been our pleasure to work with Darby, and we would like to thank Darby for its support over the years in bringing the company to today's scale and profitability."

    DAMF II, Darby's second managed Asia mezzanine fund, was launched in 2005 and became fully invested in 2010 after investing over US$217 million. Shayne marks the 8th exit for the Fund, and Darby's 12th exit in Asia. Darby has played a pioneering role in bringing mezzanine finance—a hybrid of both debt and equity—to emerging market regions, initially in Latin America and Asia, and most recently in Central and Eastern Europe.

    About Darby
    Darby Private Equity was founded in 1994 by The Honorable Nicholas F. Brady, who served as U.S. Secretary of the Treasury between 1988 and 1993. Richard Frank joined the firm as CEO in 1997 after his career at the International Finance Corporation (IFC)/World Bank. In 2003, Darby became a fully owned subsidiary of Franklin Resources, Inc. [NYSE:BEN], a global investment management organization operating as Franklin Templeton Investments. For more information please visit darbyoverseas.com.

    About Franklin Templeton
    Franklin Templeton Investments provides global and domestic investment management to retail, institutional and sovereign wealth clients in over 150 countries. Through specialized teams, the company has expertise across all asset classes—including equity, fixed income, alternative and custom solutions. The company's more than 600 investment professionals are supported by its integrated, worldwide team of risk management professionals and global trading desk network. With offices in 35 countries, the California–based company has more than 65 years of investment experience and over $880 billion in assets under management as of December 31, 2014. For more information, please visit franklinresources.com.