DALLAS, Aug. 13 /PRNewswire-FirstCall/ -- Lone Star Fund V (U.S.) L.P., through its affiliate Lone Star U.S. Acquisitions, LLC ("Lone Star"), issued the following statement in response to the lawsuit filed Saturday by Accredited Home Lenders Holding Co. (NASDAQ:LEND) in the Delaware Court of Chancery: "As stated on August 10, 2007, Lone Star informed the Chairman of the Special Committee of the Board of Directors of Accredited Home Lenders that, in light of the drastic deterioration in the financial and operational condition of the Company, among other things, the conditions to the closing of the tender offer for shares of Accredited would not be satisfied. Accordingly, Lone Star does not expect to be accepting Shares tendered as of the end of the current offer period, currently scheduled to close at 12:00 midnight, New York City time, on August 14, 2007. Lone Star believes the facts will fully support its position. Lone Star looks forward to presenting these facts in Delaware Court of Chancery." About Lone Star Funds Lone Star is a leading U.S. private equity firm. Since 1995, the principals of Lone Star have organized private equity funds totaling more than $13.3 billion to invest globally in corporate secured and unsecured debt instruments, real estate related assets and select corporate opportunities. Additional information may be found at http://www.lonestarfunds.com/.
Contact:
Ed Trissel
Joele Frank, Wilkinson Brimmer Katcher
212-895-8654
DATASOURCE: Lone Star Funds CONTACT: Ed Trissel of Joele Frank, Wilkinson Brimmer Katcher, +1-212-895-8654, for Lone Star Funds Web site: http://www.lonestarfunds.com/
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