Business News

Hicks Acquisition Company I, Inc. and Blackstone-Led Group Amend Graham Packaging Transaction

Thursday 29. January 2009 - Hicks Acquisition Company I, Inc. (AMEX: TOH) ("Hicks Acquisition"), a Dallas-based special purpose acquisition company ("SPAC"), Graham Packaging Holdings Company ("Graham Packaging") and The Blackstone Group (NYSE: BX) announced today that they have amended their previously announced agreement under which Graham Packaging will go public through a transaction with Hicks Acquisition in partnership with Blackstone and the Graham Group.

The amendment stipulates, among other things, that:

Hicks Acquisition and Blackstone will each have the right to terminate the agreement by giving written notice to the other; and

Each party will be released from the agreement’s exclusivity provisions and will be permitted to consider other possible transactions.

No Assurances

There can be no assurance that the transaction will be completed, nor can there be any assurance, if the transaction is completed, that the potential benefits of combining the companies will be realized. The description of the amendment as contained herein is only a summary and is qualified in its entirety by reference to the amendment, a copy of which will be filed by each of Hicks Acquisition and Graham Packaging with the Securities and Exchange Commission (the “SEC2) as exhibits to Current Reports on Form 8-K.