Freedom Acquisition Holdings, Inc. Announces Expected Transfer of Listing to NYSE Under the Symbol GLG



    NEW YORK, Oct. 23 /CNW/ -- Freedom Acquisition Holdings, Inc. (Amex:   FRH)
(Amex:   FRH.U)(Amex:   FRH.WS) ("Freedom") today announced that it has been
approved to submit an application to list its common stock, warrants and
units, and expects to begin trading, on the New York Stock Exchange on or
about November 5, 2007, under the symbols GLG, GLG WS and GLG.U, respectively.
 The company's common stock, warrants and units are expected to continue
trading on the American Stock Exchange  under the symbols FRH, FRH.WS and
FRH.U, respectively, through November 2, 2007.  The expected transfer of
Freedom's listing and change in symbol are in connection with the proposed
acquisition of GLG Partners LP and certain affiliated entities by Freedom and
certain of its wholly-owned subsidiaries, which is subject to certain
conditions to completion, including the approval of Freedom's stockholders at
a special meeting to be held on October 31, 2007, receipt of financing for the
acquisition transaction and all other conditions to closing. In connection
with the acquisition transaction, Freedom will change its name to GLG
Partners, Inc.
    
    About GLG
    
    GLG, the largest independent alternative asset manager in Europe and one
of the largest in the world, offers its base of long-standing prestigious
clients a diverse range of investment products and account management
services. GLG's focus is on preserving client's capital and achieving
consistent, superior absolute returns with low volatility and low correlations
to both the equity and fixed income markets. Since its inception in 1995, GLG
has built on the roots of its founders in the private wealth management
industry to develop into one of the world's largest and most recognized
alternative investment managers, while maintaining its tradition of client-
focused product development and customer service. As of June 30, 2007, GLG had
gross assets under management of over $21 billion.
    
    About Freedom
    
    Freedom is a blank check company incorporated in Delaware in 2006 to
effect a merger, stock exchange, asset acquisition, reorganization or similar
business combination with an operating business or businesses which it
believes has significant growth potential. Freedom consummated its initial
public offering on December 28, 2006.
    
    Forward-looking Statements
    
    This press release contains statements relating to future results of GLG
and Freedom that are "forward-looking statements" as defined in the Private
Securities Litigation Reform Act of 1995. Actual results may differ materially
from those projected as a result of certain risks and uncertainties. These
risks and uncertainties include, but are not limited to: market conditions for
GLG managed investment funds; performance of GLG managed investment funds, the
related performance fees and the associated impacts on revenues, net income,
cash flows and fund inflows/outflows; the cost of retaining GLG's key
investment and other personnel or the loss of such key personnel; risks
associated with the expansion of GLG's business in size and geographically;
operational risk; litigation and regulatory enforcement risks, including the
diversion of management time and attention and the additional costs and
demands on GLG's resources; risks related to the use of leverage, the use of
derivatives, interest rates and currency fluctuations; costs related to the
proposed acquisition; failure to obtain the required approvals of stockholders
of Freedom for the proposed acquisition transaction; risks that the closing of
the transaction is substantially delayed or that the transaction does not
close; the successful combination of Freedom with GLG's business; Freedom's
inability to obtain additional financing to complete the acquisition
transaction; and the limited liquidity and trading of Freedom securities.
Additional information on these and other factors that may cause actual
results and GLG's and Freedom's performance to differ materially is included
in the Freedom's filings with the SEC, including but not limited to Freedom's
Form 10-K for the year ended December 31, 2006, subsequent Forms 10-Q and
definitive proxy statement with respect to the Special Meeting filed on
October 11, 2007. Copies may be obtained by contacting Freedom or on the SEC
Internet site (www.sec.gov). Freedom and GLG caution readers not to place
undue reliance upon any forward-looking statements, which speak only as of the
date made. These forward-looking statements are made only as of the date
hereof, and Freedom and GLG undertake no obligation to release publicly any
updates or revisions to any forward-looking statements, whether as a result of
changes in expectations, events, conditions or circumstances on which any such
statement is based, new information, future events or otherwise, except as
required by law.
    
    Additional Information and Where to Find It
    
    Freedom Acquisition Holdings, Inc. ("Freedom") has mailed a definitive
proxy statement in connection with the proposed acquisition of GLG Partners LP
and its affiliated entities (collectively, "GLG") to Freedom stockholders. The
definitive proxy statement was filed with the U.S. Securities and Exchange
Commission (the "SEC") on October 11, 2007. Stockholders of Freedom and other
interested persons are advised to read the definitive proxy statement and any
other relevant documents in connection with Freedom's solicitation of proxies
for the special meeting to be held to approve the proposed acquisition because
these documents contain important information about GLG, Freedom and the
proposed acquisition.  Stockholders may obtain a copy of the definitive proxy
statement, without charge, at the SEC's internet site at http://www.sec.gov or
by directing a request to: Freedom Acquisition Holdings, Inc., 1114 Avenue of
the Americas, 41st floor, New York, New York 10036, telephone (212) 380-2230.
    Freedom and its directors and officers may be deemed participants in the
solicitation of proxies from Freedom's stockholders. a list of the names of
those directors and officers and descriptions of their interests in Freedom is
contained in the definitive proxy statement.  Freedom's stockholders may
obtain additional information about the interests of its directors and
officers in the proposed acquisition by reading the definitive proxy
statement.




For further information:

For further information: Investors-analysts, Simon White, Chief
Financial  Officer, +44 (0)20 7016 7000, simon.white@glgpartners.com, or
Michael Hodes,  Acting Director of Investor Relations, +1-212-224-7223, 
michael.hodes@glgpartners.com, both of GLG; Freedom, in the US, Martin E. 
Franklin, Chairman, +1-914-967-9400, or Freedom, in Europe, Nicolas Berggruen,
 President and CEO, + 44 (0)20 7861 0985; or Media, Rupert Younger, 
rupert.younger@finsbury.com, Amanda Lee, amanda.lee@finsbury.com, +44  (0)20
7251 3801, or Andy Merrill, +1-212-303-7600, andy.merrill@finsbury.com,  both
of Finsbury

Organization Profile

FREEDOM ACQUISITION HOLDINGS, INC.

More on this organization

GLG PARTNERS, LP

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890