GLG Partners Completes Reverse Acquisition Transaction with Freedom Acquisition Holdings

GLG Partners Completes Reverse Acquisition Transaction with Freedom Acquisition Holdings

November 03, 2007

Common Stock of GLG Partners to Transfer to the New York
Stock Exchange and Begin Trading Under the Ticker Symbol
"GLG"

    NEW YORK, Nov. 3 /Xinhua-PRNewswire/ -- GLG Partners,
LP ("GLG"), a leading alternative asset manager,
announced today that it has completed its reverse
acquisition transaction with Freedom Acquisition Holdings,
Inc. ("Freedom"), which was previously announced
on June 25, 2007.   The transaction was approved by the
shareholders of Freedom on October 31, 2007.  Effective
upon the completion of the transaction, Freedom changed its
name to GLG Partners, Inc.  On November 5, 2007, the common
stock, warrants and units of GLG Partners, Inc. will
transfer from the American Stock Exchange to the New York
Stock Exchange and begin trading under the symbols GLG, GLG
WS and GLG.U, respectively.

    Commenting on the completion of the transaction, Noam
Gottesman, Chairman and Co-CEO of GLG Partners, Inc., said
"Completion of this transaction is an important step
in building GLG's global business and affords us the
opportunity to increase brand awareness and expand in major
targeted markets, including the US, Middle East and Asia. 
Accessing the public markets allows GLG to take full
advantage of our highly scalable infrastructure as well as
our growth and track record of success to expand our client
relationships and distribution capabilities.  We now have a
publicly traded equity currency on the New York Stock
Exchange which we can use to compete for, retain and
incentivize the most talented and sought after
professionals in our industry."

    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 September 30, 2007,
GLG managed gross AUM of over $23 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 that are forward-looking statements. 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, as well as other
risks and uncertainties, including those set forth in the
definitive proxy statement filed by Freedom with the
Securities and Exchange Commission on October 11, 2007.
These forward-looking statements are made only as of the
date hereof, and GLG undertakes no obligation to update or
revise the forward-looking statements, whether as a result
of new information, future events or otherwise.


    For more information, please contact:

    Investors-analysts:

    GLG

     Simon White
     Chief Financial Officer
     Phone: [phone]
     Email: [e-mail]

     Michael Hodes
     Acting Director of Investor Relations
     Phone: [phone]
     Email: [e-mail]

    Media:

    Finsbury

     Rupert Younger
     Email: [e-mail] 

     Amanda Lee
     Email: [e-mail] 
     Phone: [phone]

     Andy Merrill
     Phone: [phone]
     Email: [e-mail]