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PGP Investors, LLC Announces Extension of Offer to Purchase and Consent and Increase in Number of Interests Offered to Purchase

LOS ANGELES--(BUSINESS WIRE)-- PGP Investors, LLC (“PGP”), Eaton Vance Corp. and PGP Advisors, LLC (collectively, the “Offerors”) announced today that they have extended until 5:00 p.m. New York City Time on Thursday, October 18, 2012 (the “Extended Expiration Date”) the currently outstanding offer to purchase up to 173,560 limited liability company membership interests of PGP (the “PGP Interests”), increased the maximum number of PGP Interests that they are offering to purchase from 173,560 to 245,402 and made certain amendments to the original offer. The original offer to purchase commenced on August 9, 2012, was originally scheduled to expire September 7, 2012 and was previously extended to expire October 4, 2012. As of October 4, 2012, the Offerors have received tenders of approximately 280,667 PGP Interests and consents to the transactions set forth in the offer to purchase from the holders of approximately 347,667 of the PGP Interests.

Unless they further extend the Extended Expiration Date in their sole discretion, the Offerors will continue to accept limited liability company membership interests tendered pursuant to the terms and conditions of the offer, as amended, until the Extended Expiration Date.

Shefsky & Froelich Ltd.
111 E. Wacker Drive, Suite 2800
Chicago, Illinois 60601
Tel: (312) 836-4002
Fax: (312) 527-9897
Attn: Cezar “Cid” M. Froelich

Source: PGP Investors, LLC