Company Press Release

CHICAGO, July 23 /PRNewswire/ -- Keeley Asset Management Corp., a leading mutual fund and investment advisory firm, and its sister company Keeley Investment Corp. announced a minority investment from Boston based TA Associates, one of the oldest and largest private equity firms in the U.S. with a long history of investing in asset management firms. The Keeley family will remain the majority owners and are committed to maintaining the firm's corporate culture focusing on investment performance and client service. Furthermore, Keeley also announced a plan to provide for equity incentives for its key investment and operational personnel.

Founded by John L. Keeley, Jr. in 1982, Keeley Asset Management manages equity for corporations, pension plans, foundations, endowments and individuals, using a bottom-up value-based investment approach that focuses on small to mid-cap companies undergoing internal corporate restructuring. In addition, Keeley Investment Corporation is a registered broker-dealer which underwrites and distributes the Keeley family of mutual funds. In recent years, Keeley has significantly increased its assets under management, a result of its unique investment style and strong performing products. As of June 30, the company had in excess of $10.0 billion under management. The firm's flagship product, the Keeley Small Cap Value Fund (KSCVX), has significantly outperformed its respective benchmarks since its inception and has a 5-star Morningstar rating. Keeley has continued to offer innovative strategies and funds, introducing several new funds in the last three years.

"We believe this partnership with TA Associates will help us to continue to serve our clients and grow our organization," said John L. Keeley, Jr., President and Chief Investment Officer at Keeley Asset Management. "Additionally, we expect that the launch of our employee equity plan will enhance our ability to retain and attract superior industry talent."

"We are delighted to make this investment in Keeley Asset Management," said Roger B. Kafker, a Managing Director at TA Associates who was invited to join Keeley's Board of Directors. "Keeley typifies the attractiveness of the asset management business. Keeley's exceptionally strong growth is an indication of the quality of investment products and leadership at the firm. We look forward to working with Keeley to help fuel continued growth and success."

TA Associates has four decades of investing experience, focusing on profitable growth companies. The firm has invested more than $2.5 billion in financial services and financial technology companies. Some of TA's prior investments in the asset management industry include Advisory Research, Inc., Affiliated Managers Group, AIM Management Group (AMVESCAP), Arnhold S. Bleichroeder Holdings, Jupiter Investment Management Group, Numeric Investors, RGM Advisors, and Thomson Advisory Group (PIMCO).

UBS Investment Bank acted as financial advisor to Keeley Asset Management.

Keeley Asset Management

Keeley Asset Management Corp. (KAMCO) is a privately owned Chicago-based money management firm, founded in 1982. Located in Chicago's Financial District, KAMCO currently has more than $10 billion under management. Keeley is a value manager with the principal objective of seeking long-term capital appreciation in the equity markets for individuals and institutions in separately managed Small Cap Value and Mid Cap Value portfolios. KAMCO also manages the KEELEY funds (http://keeleyfunds.com/), open-end publicly traded mutual funds that include the KEELEY Small Cap Value Fund, the KEELEY Small- Mid Cap Value Fund, the KEELEY Mid Cap Value Fund and the KEELEY All Cap Value Fund. For more information, please visit: www.keeleyasset.com

About TA Associates

Founded in 1968, TA Associates is one of the largest and most experienced private equity firms. With offices in Boston, London and Menlo Park, the firm manages $12 billion in capital and has invested in more than 380 companies. TA Associates leads buyouts and minority recapitalizations of profitable growth companies in the technology, financial services, business services, healthcare and consumer industries. More information about TA Associates can be found at www.ta.com.


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