Oaktree Capital Group, LLC (NYSE: OAK) ("Oaktree") and China Cinda Asset Management Co., Ltd. ("Cinda") announced today that they have entered into a memorandum of understanding ("MOU") memorializing their intent to jointly invest in distressed assets in China and to cooperate with respect to distressed assets investments in markets outside China.

The MOU contemplates that Oaktree and Cinda will establish a strategic relationship and pursue business cooperation opportunities utilizing Cinda's experience in China and Oaktree's experience elsewhere. Both parties anticipate forming a joint venture that will be equally owned by Oaktree and Cinda to invest in distressed assets in China, subject to negotiation and execution of definitive documentation.

John Frank, Managing Principal of Oaktree, said, "We are excited to partner with Cinda, the market leader in distressed investing in China. Cinda's experience and expertise in China is unparalleled and will afford us a unique opportunity to participate in China's distressed debt markets. At the same time, we look forward to sharing our global insights and expertise with Cinda."

Jianhang Hou, Chairman of Cinda, commented, "It's a rare opportunity for two premiere firms to combine their expertise in investing, and we are pleased to be working with such a strong partner as Oaktree. We believe today's announcement represents the beginning of a powerful partnership for each company to leverage their existing talents and expertise to build a great entity."

Forward-Looking Statements

This announcement contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the U.S. Securities Exchange Act of 1934, as amended (the "Exchange Act"). Statements in this announcement that are not historical facts, including without limitation statements regarding the future establishment of and possible benefits from joint ventures between Oaktree or its affiliates and Cinda, represent only Oaktree's current expectations, assumptions, estimates and projections and are forward-looking statements. These forward-looking statements involve various risks and uncertainties. Important factors could cause actual results to differ, possibly materially, from those indicated in these statements. Important risks and uncertainties that could cause the actual results to be materially different from expectations include without limitation the possibility that Oaktree or its affiliates and Cinda may not reach definitive agreements on the establishment of the joint venture(s) and the risk that the parties fail to obtain necessary regulatory approvals. Also, the to-be-established joint ventures may not deliver the expected business performance and benefits.

Forward-looking statements speak only as of the date of this announcement. Oaktree does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

About Oaktree

Oaktree is a leading global investment management firm focused on alternative markets, with $79.8 billion in assets under management as of September 30, 2013. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in distressed debt, corporate debt (including high yield debt and senior loans), control investing, convertible securities, real estate and listed equities. Headquartered in Los Angeles, the firm has over 750 employees and offices in 15 cities worldwide. For additional information, please visit Oaktree's website at www.oaktreecapital.com

About Cinda

Cinda is a leading Asset Management Company in China. The Company focuses on distressed asset management and provides customized financial solutions and differentiated asset management services to its clients through the synergistic operation of its diversified business platforms. As at June 30, 2013, Cinda's total assets and net assets were RMB283.6 billion and RMB62.7 billion, respectively. Headquartered in Beijing, the Company's business network includes 31 branches, 9 first-tier subsidiaries and branches of the first-tier subsidiaries, with over 18,000 employees. For additional information, please visit Cinda's website at www.cinda.com.cn

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Oaktree Capital Group, LLC
Andrea D. Williams, 213-830-6483
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Sard Verbinnen & Co
John Christiansen/Carissa Felger
415-618-8750/312-895-4700
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