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News Release

Apollo Global Management Announces Distribution of $0.07 per Class A Share
New York, NY. November 1, 2010 - Apollo Global Management, LLC (together with its subsidiaries, "Apollo") today announced a third quarter 2010 cash distribution of $0.07 per Class A Share, to be paid on November 23, 2010 to holders of record at the close of business on November 12, 2010.

Apollo intends to distribute to its shareholders on a quarterly basis substantially all of its net after-tax cash flow in excess of amounts determined by its manager to be necessary or appropriate to provide for the conduct of its business, to make appropriate investments in the business, to comply with applicable law, to service its debt instruments and other agreements, or to provide for future distributions to shareholders for any ensuing quarter. Because we will not know what our actual available cash flow from operations will be for any given year until the end of such year, we expect that the dividend payment with respect to the fourth quarter may be adjusted to take into account actual net after-tax cash flow for the full year. However, we cannot assure shareholders that they will receive any distributions.

Withholding Information

The distribution will be treated as a partnership distribution for U.S. federal income tax purposes. Based on the best information currently available, when calculating withholding taxes, $0.00 per unit will be treated as U.S. source dividends and $0.025 per unit will be treated as U.S. source interest. Accordingly, for non-U.S. holders of Class A units, unless an exception to withholding applies, the per unit amount of the distribution will be subject to a U.S. federal withholding tax of $0.007 and the per unit amount of the distribution received after taking into account such withholding will be $0.063.

Non-U.S. holders of Class A units are generally subject to U.S. federal withholding tax at a rate of 30% (subject to reduction by applicable treaty or other exception) on their allocable share of U.S. source income. With respect to interest income, however, no withholding is generally required if proper certification (on an IRS Form W-8) of a beneficial owner's foreign status has been filed with the withholding agent. In addition, non-U.S. holders must generally provide the withholding agent with a properly completed IRS Form W-8 to obtain any reduction in withholding.

About Apollo Global Management

Apollo is a leading global alternative asset manager with offices in New York, Los Angeles, London, Frankfurt, Luxembourg, Singapore, Mumbai and Hong Kong. Apollo had assets under management of over $54 billion as of June 30, 2010, in private equity, credit-oriented capital markets and real estate funds invested across a core group of nine industries where Apollo has considerable knowledge and resources. For more information about Apollo, please visit

Investor Relations Contact

Gary M. Stein
Director of Investor Relations
Apollo Global Management, LLC

Forward-Looking Statements

This press release may contain statements that are forward looking, as that term is defined by the Private Securities Litigation Reform Act of 1995 or by the Securities and Exchange Commission in its rules, regulations and releases. These statements include, but are not limited to, discussions related to Apollo's expectations regarding the performance of its business, its liquidity and capital resources and other non-historical statements in the discussion and analysis. These forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. When used in this release, the words "believe," "anticipate," "estimate," "expect," "intend" and similar expressions are intended to identify forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. These statements are subject to certain risks, uncertainties and assumptions, including risks relating to our dependence on certain key personnel, our ability to raise new private equity, capital markets or real estate funds, market conditions, generally, our ability to manage our rapid growth, fund performance, changes in our regulatory environment and tax status, the variability of our revenue, net income and cash flow, our use of leverage to finance our businesses and investments by our funds and litigation risks, among others.