Och-Ziff Capital Management Group LLC Reports 2012 Fourth Quarter and Full Year Results

  Och-Ziff Capital Management Group LLC Reports 2012 Fourth Quarter and Full
                                 Year Results

2012 Fourth Quarter Dividend of $0.75 per Class A Share

PR Newswire

NEW YORK, Feb. 7, 2013

NEW YORK, Feb. 7, 2013 /PRNewswire/ --Och-Ziff Capital Management Group LLC
(NYSE: OZM) (the "Company" or "Och-Ziff") today reported GAAP Net Income^(1)
of $50.7 million, or $0.35 per basic and $0.34 per diluted Class A Share, for
the fourth quarter and a GAAP Net Loss of $315.8 million, or $2.21 per basic
and diluted Class A Share, for the full year ended December 31, 2012. The
Company also declared a $0.75 per share cash dividend on its Class A Shares
for the 2012 fourth quarter, bringing its full year 2012 dividend to $1.11 per
Class A Share.

Summary Highlights

  oDistributable Earnings of $351.3 million, or $0.77 per Adjusted Class A
    Share, and $537.4 million, or $1.18 per Adjusted Class A Share, for the
    2012 fourth quarter and full year, respectively.
  oCash dividend of $0.75 and $1.11 per Class A Share for the 2012 fourth
    quarter and full year, respectively.
  oAssets under management of $32.6 billion as of December 31, 2012, 4%
    higher than $31.3 billion as of September 30, 2012, and 13% higher than
    $28.8 billion as of December 31, 2011.
  oFull-year net returns through December 31, 2012 in the OZ Master Fund of
    +11.6%, the OZ Europe Master Fund of +8.6%, the OZ Asia Master Fund of
    +7.0% and the OZ Global Special Investments Master Fund of +9.8%.
  oEstimated assets under management of $33.1 billion as of February 1, 2013,
    which reflected year-to-date performance-related appreciation of $700
    million and capital net outflows of approximately $200 million.
  oEstimated net returns for January 2013 in the OZ Master Fund of +1.9%, the
    OZ Europe Master Fund of +3.4%, the OZ Asia Master Fund of +3.7% and the
    OZ Global Special Investments Master Fund of +0.5%.

"Our 2012 investment returns were strong and we are very pleased with the
performance of our funds," said Daniel S. Och, Chairman and Chief Executive
Officer of Och-Ziff. "We continued this momentum in January, positioning us
for a strong start to 2013. The value we provided to our investors last year
reflects our ability to remain nimble and highly opportunistic,enabling us
not onlyto protect capital in volatile or declining markets, but also to
generate strong absolute returns when market conditions are more constructive.
We accomplished this by having the expertise and capability to adjust our
portfolio allocations between various asset classes, geographies, and
strategies as the market environment changed.

"As we turn to 2013, we believe more than ever that the secular growth
opportunity for hedge funds is intact as institutional investors seek to
mitigate risk and enhance the returns in their portfolios. We have seen
increasing levels of interest in Och-Ziff and believe that the performance of
our multi-strategy funds in 2012, as well as the performance and expansion of
our credit products, position us to grow by capturing a larger market share of
new industry inflows."

^(1) References to the Company's GAAP Net Income (Loss) throughout this press
release refer to the Company's GAAP Net Income (Loss) Allocated to Class A
Shareholders.

GAAP NET INCOME (LOSS) ALLOCATED TO CLASS A SHAREHOLDERS

For the 2012 fourth quarter, Och-Ziff reported GAAP Net Income of $50.7
million, or $0.35 per basic and $0.34 per diluted Class A Share, compared to a
GAAP Net Loss of $137.0 million, or $1.17 per basic and diluted Class A Share,
for the 2011 fourth quarter. For the 2012 full year, Och-Ziff reported a GAAP
Net Loss of $315.8 million, or $2.21 per basic and diluted Class A Share,
compared to a GAAP Net Loss of $419.0 million, or $4.07 per basic and diluted
Class A Share, for the 2011 full year.

The year-over-year improvement in the Company's GAAP results was driven by a
combination of higher incentive income due to improved investment performance
in the Company's funds and lower non-cash expenses associated with the
Company's reorganization ("reorganization expenses") in connection with its
initial public offering ("IPO") in November 2007, as further discussed below.

Partially offsetting the year-to-date decrease in the Company's GAAP Net Loss
was an increase in the Company's interest in its principal operating
subsidiaries (the "Och-Ziff Operating Group") driven by the public offering of
33.3 million Class A Shares in November 2011, the issuance of Class A Shares
related to the vesting of Class A Restricted Share Units ("RSUs") and the
exchange of Och-Ziff Operating Group A Units ("Group A Units") for Class A
Shares. Because of the increase in the Company's interest in the Och-Ziff
Operating Group, a larger portion of the losses of the Och-Ziff Operating
Group was allocated to the Company. Also partially offsetting the improvement
in the Company's year-over-year GAAP results were higher discretionary cash
bonuses.

The Company's GAAP results in the 2012 fourth quarter and full year were
impacted by reorganization expenses of $201.5 million and $1.4 billion,
respectively, compared to $400.6 million and $1.6 billion, respectively, in
the prior-year periods. These expenses are related to the amortization of
Group A Units, which represent equity interests in the Och-Ziff Operating
Group that were issued to the Company's pre-IPO limited partners in exchange
for their pre-IPO interests in those subsidiaries. The Group A Units generally
vested annually over five years through November 2012, and therefore the
amortization of these expenses resulted in a GAAP Net Loss on an annual basis
through the end of 2012.Vested Group A Units may be exchanged on a one-to-one
basis for Class A Shares, subject to transfer restrictions and minimum
retained ownership requirements.

Additionally, the Company's GAAP results in the 2012 fourth quarter and full
year were impacted by non-cash expenses of $35.7 million and $86.0 million,
respectively, for the amortization of equity-based compensation. These
expenses primarily relate to RSUs granted to employees and executive managing
directors, as well as Group A Units granted to executive managing directors
subsequent to the IPO. Each RSU represents the right to receive one Class A
Share upon vesting.

Throughout this press release, the Company presents financial measures that
are not prepared in accordance with GAAP. For a discussion of these non-GAAP
measures, please see the discussion of "Non-GAAP Financial Measures" at the
end of this press release.

DISTRIBUTABLE EARNINGS (NON-GAAP)

The Company's Distributable Earnings for the 2012 fourth quarter were $351.3
million, or $0.77 per Adjusted Class A Share, compared to $16.8 million, or
$0.04 per Adjusted Class A Share, for the 2011 fourth quarter. Distributable
Earnings for the 2012 full year were $537.4 million, or $1.18 per Adjusted
Class A Share, compared to $199.6 million, or $0.48 per Adjusted Class A
Share, in the 2011 full year.

The year-over-year increase in Distributable Earnings for both periods was
primarily driven by an increase in incentive income due to improved investment
performance in the Company's funds. This increase was partially offset by
increases in discretionary cash bonuses, Adjusted Income Taxes and
non-compensation expenses.

Distributable Earnings is a non-GAAP measure. For reconciliations of
Distributable Earnings to the respective GAAP Net Income (Loss) for the
periods discussed above, please see Exhibits 2 and 3 that accompany this press
release. Additionally, please see the discussion of "Non-GAAP Financial
Measures" at the end of this press release, including the definitions of
Distributable Earnings, Adjusted Income Taxes and Adjusted Class A Shares.

ASSETS UNDER MANAGEMENT

Och-Ziff's assets under management were $32.6 billion as of December 31, 2012,
$1.3 billion higher than $31.3 billion as of September 30, 2012, and $3.8
billion higher than $28.8 billion as of December 31, 2011. The year-over-year
increase was driven by performance-related appreciation of $3.4 billion and
capital net inflows of $479.6 million, which included approximately $985.9
million of collateralized loan obligation ("CLO") assets.



Assets under management by fund:
                                                                  % Change (1)
                                                                  Dec.    Dec.
                       December 31,  September 30,  December 31,  2012    2012
(dollars in billions)  2012          2012           2011          vs.     vs.
                                                                  Sep.    Dec.
                                                                  2012    2011
Multi-strategy funds
OZ Master Fund         $        $        $        2%      8%
                          21.8      21.4          20.2
OZ Europe Master Fund  2.0           2.0            2.3           -1%     -14%
OZ Asia Master Fund    1.4           1.4            1.6           -4%     -14%
OZ Global Special
Investments            1.1           1.0            1.0           1%      8%
 Master Fund
Other multi-strategy   1.7           1.5            1.3           14%     26%
funds
Credit funds           2.4           2.1            1.1           15%     115%
CLOs                   1.0           0.5            -             115%    100%
Real estate funds      0.9           0.9            0.9           1%      -2%
Other                  0.3           0.5            0.4           -2%     35%
Total                  $        $        $        4%      13%
                          32.6      31.3          28.8
(1) Rounding differences may occur.

Estimated assets under management were $33.1 billion as of February 1, 2013,
which reflected estimated year-to-date performance-related appreciation of
$700 million and capital net outflows of approximately $200 million.

INVESTMENT PERFORMANCE

For the 2012 full year, performance was driven primarily by the funds'
credit-related strategies and long/short equity special situations.



Net returns by fund^(1):
                                2012
                                October   November  December  4Q     Full Year
OZ Master Fund                  0.86%     0.54%     1.33%     2.75%  11.56%
OZ Europe Master Fund           0.91%     0.71%     0.36%     1.99%  8.55%
OZ Asia Master Fund             -0.80%    1.05%     2.42%     2.67%  7.01%
OZ Global Special Investments   0.12%     0.32%     1.73%     2.18%  9.84%
Master Fund
(1) Please see important disclosures on Exhibit 7 that accompanies this press
release.

ECONOMIC INCOME (NON-GAAP)

In addition to analyzing the Company's results on a GAAP basis, management
also reviews the Company's results on an "Economic Income" basis. Economic
Income excludes certain adjustments that are required for presentation of the
Company's results on a GAAP basis, but that management does not consider when
evaluating operating performance in any given period.

For reconciliations of Economic Income and its components to the respective
GAAP measures, please see Exhibits 2 through 5 that accompany this press
release. Additionally, please see the discussion of "Non-GAAP Financial
Measures" at the end of this press release.

Economic Income Revenues (Non-GAAP)

Economic Income revenues for the 2012 fourth quarter were $699.8 million,
compared to $162.4 million for the 2011 fourth quarter. Management fees were
$126.9 million, a 7% increase from management fees of $118.6 million for the
prior-year period. Incentive income was $572.7 million, compared to $43.1
million for the prior-year period.

Economic Income revenues for the 2012 full year were $1.1 billion, a 97%
increase from Economic Income revenues of $553.5 million for the 2011 full
year. Management fees were $490.0 million, a slight increase from management
fees of $486.2 million for the prior-year period. Incentive income was $600.4
million compared to $65.0 million for the prior-year period.

The increase in Economic Income revenues for both periods was primarily due to
higher incentive income resulting from improved investment performance in the
Company's funds. The average management fee rate was 1.63% for the 2012 full
year, slightly lower than 1.68% for the 2011 full year due to an increase in
assets under management in the Company's dedicated credit platforms and CLOs.

Compensation and Benefits (Non-GAAP)

Compensation and benefits for the 2012 fourth quarter totaled $227.9 million,
86% higher than compensation and benefits of $122.4 million for the 2011
fourth quarter. Salaries and benefits for the 2012 fourth quarter totaled
$20.0 million, an 8% increase from salaries and benefits of $18.4 million for
the prior-year period. Cash bonus expense for the 2012 fourth quarter totaled
$207.9 million, compared to $103.9 million for the prior-year period.

Compensation and benefits for the 2012 full year totaled $293.9 million, 52%
higher than compensation and benefits of $193.1 million for the 2011 full
year. Salaries and benefits for the 2012 full year totaled $79.0 million, an
8% increase from salaries and benefits of $73.0 million for the prior-year
period. Cash bonus expense for the 2012 full year totaled $214.9 million, a
79% increase from cash bonus expense of $120.1 million for the prior-year
period.

The year-over-year increase in compensation and benefits for both periods was
primarily driven by higher discretionary cash bonus expense due to higher
incentive income resulting from significantly improved investment performance.

The ratio of salaries and benefits to management fees was 16% in both the 2012
fourth quarter and full year compared to 16% and 15% in the 2011 fourth
quarter and 2011 full year, respectively. The increase in the year-to-date
period was due primarily to the year-over-year increase in salaries and
benefits. The ratio of cash bonus expense to total annual revenues was 20% for
the 2012 full year, compared to 22% in the prior-year period. The decrease was
due to the year-over-year increase in incentive income.

Non-Compensation Expenses (Non-GAAP)

Non-compensation expenses for the 2012 fourth quarter totaled $30.3 million,
45% higher than non-compensation expenses of $20.9 million for the 2011 fourth
quarter. Non-compensation expenses for the 2012 full year totaled $103.6
million, a 21% increase from non-compensation expenses of $85.8 million for
the prior-year period.

The year-over-year increase in non-compensation expenses for both periods was
driven primarily by higher professional services.

The ratio of non-compensation expenses to management fees increased to 24% in
the 2012 fourth quarter and 21% in the 2012 full year, compared to 18% in both
the 2011 fourth quarter and full year. The year-over-year increase in both
periods was driven by higher non-compensation expenses.

Economic Income (Non-GAAP)

Economic Income for the 2012 fourth quarter was $443.0 million compared to
Economic Income of $20.3 million for the 2011 fourth quarter. Economic Income
for the 2012 full year was $694.1 million, 154% higher than Economic Income of
$273.8 million for the prior-year period.

The year-over-year increase for both periods was principally driven by higher
incentive income, partially offset by increases in discretionary cash bonuses
and non-compensation expenses.

CAPITAL

As of December 31, 2012, the number of Class A Shares outstanding was
147,689,919. For purposes of calculating Distributable Earnings per Share, the
Company assumes that all the interests held by its executive managing
directors and Ziff Investors Partnership, L.P. II and certain of its
affiliates and control persons (the "Ziffs") in the Och-Ziff Operating Group
(collectively, "Partner Units") and RSUs outstanding during the period have
been converted on a one-to-one basis into Class A Shares ("Adjusted Class A
Shares"). For the fourth quarter and full year ended December 31, 2012, the
total weighted-average Adjusted Class A Shares outstanding were 458,322,049
and 455,110,643, respectively.

DIVIDEND

The Board of Directors of Och-Ziff declared a 2012 fourth-quarter dividend of
$0.75 per Class A Share. The dividend is payable on February 26, 2013 to
holders of record as of the close of business on February 19, 2013.

For U.S. federal income tax purposes, the dividend will be treated as a
partnership distribution. Based on the best information currently available,
the Company estimates that when calculating withholding taxes, $0.11 of the
2012 fourth-quarter dividend will be treated as U.S. source dividend income
and $0.10 will be treated as U.S. source interest income.

Non-U.S. holders of Class A Shares 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 share of U.S. source dividends and certain other
types of U.S. source income realized by the Company. With respect to interest,
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. Non-U.S. holders must generally provide the withholding
agent with a properly completed IRS Form W-8 to obtain any reduction in
withholding.

* * * *

The Company will host a conference call today, February 7, 2013, at 8:30 a.m.
Eastern Time to discuss its 2012 fourth-quarter and full-year results. The
call will be open to the public and can be accessed by dialing +1-888-713-4199
(callers inside the U.S.) or +1-617-213-4861 (callers outside the U.S.). The
number should be dialed at least ten minutes prior to the start of the call
and the passcode will be 42797861. A simultaneous webcast of the call will be
available to the public on a listen-only basis on the Class A Shareholders
section of the Company's website (www.ozcap.com).

For those unable to listen to the live broadcast, a replay will be available
by dialing
+1-888-286-8010 (callers inside the U.S.) or +1-617-801-6888 (callers outside
the U.S.), passcode 30182536, beginning approximately two hours after the
event for two weeks. A webcast replay of the event will also be available on
the Company's website as noted above.

* * * *

Non-GAAP Financial Measures

Management evaluates Economic Income for the Och-Ziff Funds segment, the
Company's only reportable segment under GAAP, and for the Company's Other
Operations. Economic Income for the Company equals the sum of Economic Income
for the Och-Ziff Funds segment and the Company's Other Operations.

The Company conducts substantially all of its business through the Och-Ziff
Funds segment, which provides asset management services to its hedge funds and
other alternative investment vehicles. The Company's Other Operations are
primarily comprised of its real estate business, which provides asset
management services to its real estate funds.

The Company's non-GAAP measures should not be considered as alternatives to
the Company's GAAP Net Income (Loss) or cash flow from operations, or as
indicative of liquidity or the cash available to fund operations. The
Company's non-GAAP measures may not be comparable to similarly titled measures
used by other companies.

For reconciliations of the Company's non-GAAP measures to the most directly
comparable GAAP measures, please see Exhibits 2 through 5 that accompany this
press release.

Economic Income

In addition to analyzing the Company's results on a GAAP basis, management
also reviews the Company's results on an "Economic Income" basis. Economic
Income excludes the adjustments described below that are required for
presentation of the Company's results on a GAAP basis, but that management
does not consider when evaluating the operating performance of the Company in
any given period. Management, therefore, uses Economic Income as the basis on
which it evaluates the financial performance of the Company and makes resource
allocation and other operating decisions. Management considers it important
that investors review the same operating information that it uses.

Economic Income is a measure of pre-tax operating performance that excludes
the following from the Company's results on a GAAP basis:

  oIncome allocations to the Company's executive managing directors and the
    Ziffs on their direct interests in the Och-Ziff Operating Group.
    Management reviews operating performance at the Och-Ziff Operating Group
    level, where substantially all of the Company's operations are performed,
    prior to making any income allocations.
  oReorganization expenses related to the Company's IPO, equity-based
    compensation expenses and depreciation and amortization expenses, as
    management does not consider these non-cash expenses to be reflective of
    operating performance.
  oChanges in the tax receivable agreement liability, net gains on early
    retirement of debt and net gains (losses) on investments in Och-Ziff
    funds, as management does not consider these items to be reflective of
    operating performance.
  oAmounts related to the consolidated Och-Ziff funds, including the related
    eliminations of management fees and incentive income, as management
    reviews the total amount of management fees and incentive income earned in
    relation to total assets under management and fund performance. 

In addition, the full amount of deferred cash compensation and expenses
related to compensation arrangements based on annual investment performance
are recognized on the date they are determined (generally in the fourth
quarter of each year), as management determines the total amount of
compensation based on the Company's performance in the year of the award.

As a result of the adjustments described above, as well as an adjustment to
present management fees net of recurring placement and related service fees
(rather than considering these fees an expense), management fees, incentive
income, compensation and benefits, non-compensation expenses and net income
(loss) allocated to noncontrolling interests as presented on an Economic
Income basis are also non-GAAP measures. No adjustments to the GAAP basis have
been made for other revenues and net gains (losses) on joint ventures. 

Distributable Earnings

Distributable Earnings is a non-GAAP measure of after-tax operating
performance and equals Economic Income less Adjusted Income Taxes. Adjusted
Income Taxes are estimated assuming the conversion of all outstanding Partner
Units into Class A Shares, on a one-to-one basis, and include the impact of
payments under the tax receivable agreement. Therefore, all income (loss) of
the Och-Ziff Operating Group allocated to the Partner Units is treated as if
it were allocated to Och-Ziff Capital Management Group LLC. Partner Units
represent interests in the Och-Ziff Operating Group held by the Company's
executive managing directors and the Ziffs, including the Group A Units and
Group D Units. Distributable Earnings per Share is equal to Distributable
Earnings divided by the weighted-average number of Adjusted Class A Shares.

Management believes Distributable Earnings provides useful information to
investors because it uses Distributable Earnings, among other financial
information, to determine the earnings available to distribute as dividends to
holders of the Company's Class A Shares and to the Company's executive
managing directors and the Ziffs with respect to their Partner Units.

* * * *

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended, which reflect the Company's
current views with respect to, among other things, future events and financial
performance. The Company generally identifies forward-looking statements by
terminology such as "outlook," "believe," "expect," "potential," "continue,"
"may," "will," "should," "could," "seek," "approximately," "predict,"
"intend," "plan," "estimate," "anticipate," "opportunity," "comfortable,"
"assume," "remain," "maintain," "sustain," "achieve," "see," "think,"
"position," or the negative version of those words or other comparable words.

Any forward-looking statements contained in this press release are based upon
historical information and on the Company's current plans, estimates and
expectations. The inclusion of this or any other forward-looking information
should not be regarded as a representation by the Company or any other person
that the future plans, estimates or expectations contemplated by the Company
will be achieved. The Company cautions that forward-looking statements are
subject to numerous assumptions, estimates, risks and uncertainties, including
but not limited to: global economic, business, market and geopolitical
conditions, including Euro-zone sovereign debt issues; U.S. and foreign
regulatory developments relating to, among other things, financial
institutions and markets, government oversight and taxation; the conditions
impacting the hedge fund industry; the Company's ability to successfully
compete for fund investors, assets, professional talent and investment
opportunities; the Company's ability to retain its executive managing
directors, managing directors and investment professionals; the Company's
successful formulation and execution of its business and growth strategies;
the Company's ability to appropriately manage conflicts of interest and tax
and other regulatory factors relevant to the Company's business; as well as
assumptions relating to the Company's operations, investment performance,
financial results, financial condition, business prospects, growth strategy
and liquidity.

If one or more of these or other risks or uncertainties materialize, or if the
Company's assumptions or estimates prove to be incorrect, the Company's actual
results may vary materially from those indicated in these statements. These
factors are not and should not be construed as exhaustive and should be read
in conjunction with the other cautionary statements that are included in the
Company's filings with the SEC, including but not limited to the Company's
Annual Report on Form 10-K for the year ended December 31, 2011 filed with the
SEC on February 28, 2012. The forward-looking statements contained in this
press release are made only as of the date of this press release. The Company
does not undertake to update any forward-looking statement, whether as a
result of new information, future developments or otherwise.

This press release does not constitute an offer of any Och-Ziff fund.

* * * *

About Och-Ziff Capital Management Group LLC

Och-Ziff Capital Management Group LLC is one of the largest institutional
alternative asset managers in the world with offices in New York, London, Hong
Kong, Beijing and Mumbai. Och-Ziff provides asset management services to
institutional investors globally through its hedge funds and other alternative
investment vehicles. Och-Ziff's funds seek to generate consistent, positive,
absolute returns across market cycles, with low volatility compared to the
equity markets, and with an emphasis on preservation of capital. Och-Ziff's
multi-strategy approach combines global investment strategies, including
convertible and derivative arbitrage, corporate credit, long/short equity
special situations, merger arbitrage, private investments and structured
credit. As of February 1, 2013, Och-Ziff had approximately $33.1 billion in
assets under management. For more information, please visit Och-Ziff's website
(www.ozcap.com).



EXHIBIT 1
OCH-ZIFF CAPITAL MANAGEMENT GROUP LLC
Consolidated Statements of Comprehensive Income (Loss) (Unaudited)
(dollars in thousands, except per share amounts)
                         Three Months Ended December  Year Ended December 31,
                         31,
                         2012           2011          2012         2011
Revenues
Management fees         $            $           $          $  
                         130,478       122,651      505,948     500,857
Incentive income         568,011        43,135        595,727      65,026
Other revenues           163            619           1,038        2,258
Income of consolidated   25,426         14,921        108,684      48,283
Och-Ziff funds
Total Revenues          724,078        181,326       1,211,397    616,424
Expenses
Compensation and         262,028        151,186       389,153      325,008
benefits
Reorganization expenses  201,547        400,602       1,396,882    1,614,363
Interest expense         1,814          1,497         6,062        7,102
General, administrative  25,038         21,588        116,880      85,117
and other
Expenses of consolidated 3,121          2,414         10,440       8,723
Och-Ziff funds
Total Expenses          493,548        577,287       1,919,417    2,040,313
Other Income
Net gains on investments
in                       245            219           274          632
 Och-Ziff funds and
joint ventures
Net gains on early       -              12,494        -            12,494
retirement of debt
Change in deferred
income of                (13,379)       (3,880)       (52,256)     (7,117)
 consolidated Och-Ziff
funds
Net gains of
consolidated Och-Ziff    73,519         9,615         215,081      6,656
funds
Total Other Income       60,385         18,448        163,099      12,665
Income (Loss) before     290,915        (377,513)     (544,921)    (1,411,224)
Income Taxes
Income taxes            33,063         17,225        79,085       59,581
Consolidated Net Income  257,852        (394,738)     (624,006)    (1,470,805)
(Loss)
Other Comprehensive
Income (Loss), Net of
Tax
Foreign currency         -              (2)           229          5
translation adjustment
Total Comprehensive      $            $            $           $
Income (Loss)            257,852       (394,740)    (623,777)   (1,470,800)
Allocation of
Consolidated Net Income
(Loss)
Class A Shareholders     $           $            $           $ 
                         50,669        (137,040)    (315,826)   (418,990)
Noncontrolling interests 207,183        (257,698)     (308,180)    (1,051,815)
                         $            $            $           $
                         257,852       (394,738)    (624,006)   (1,470,805)
Allocation of Total
Comprehensive Income
(Loss)
Class A Shareholders     $           $            $           $ 
                         50,669        (137,041)    (315,777)   (418,989)
Noncontrolling interests 207,183        (257,699)     (308,000)    (1,051,811)
                         $            $            $           $
                         257,852       (394,740)    (623,777)   (1,470,800)
Net Income (Loss) Per
Class A Share
Basic                    $         $         $        $    
                         0.35          (1.17)       (2.21)      (4.07)
Diluted                  $         $         $        $    
                         0.34          (1.17)       (2.21)      (4.07)
Weighted-Average Class A
Shares Outstanding
Basic                    145,751,664    117,016,886   142,970,660  102,848,812
Diluted                  445,740,036    117,016,886   142,970,660  102,848,812

EXHIBIT 2
OCH-ZIFF CAPITAL MANAGEMENT GROUP LLC
Reconciliation of Non-GAAP Measures to the Respective GAAP Measures
(Unaudited)
(dollars in thousands, except per share amounts)
                              Three Months Ended December 31, 2012
                              Och-Ziff         Other           Total
                              Funds Segment    Operations      Company
Net income (loss) allocated   $          $         $    
to Class A Shareholders—GAAP  54,145            (3,476)   50,669
Reorganization expenses       201,547          -               201,547
Net income (loss) allocated
to the Och-Ziff Operating     133,383          -               133,383
Group A Units
Equity-based compensation    35,691           21              35,712
Income taxes                  33,063           -               33,063
Change in tax receivable      (11,851)         -               (11,851)
agreement liability
Amortization of deferred cash
compensation and expenses
related to                    (6,608)          -               (6,608)
 compensation arrangements
based on annual fund
performance
Allocations to Och-Ziff       5,052            -               5,052
Operating Group D Units
Depreciation and amortization 2,088            189             2,277
Net gains on early retirement -                -               -
of debt
Other                         (10)             (275)           (285)
Economic Income—Non-GAAP      $          $         442,959
                              446,500            (3,541)
Adjusted Income Taxes—Non-GAAP^(1)                             (91,663)
Distributable Earnings—Non-GAAP                                $    351,296
Weighted-Average Class A Shares Outstanding                    145,751,664
Weighted-Average Partner Units                                 304,231,980
Weighted-Average Class A Restricted Share                      8,338,405
Units (RSUs)
Weighted-Average Adjusted Class A Shares                       458,322,049
Distributable Earnings Per Adjusted                            $      
 Class A Share—Non-GAAP                                      0.77
                              Three Months Ended December 31, 2011
                              Och-Ziff         Other           Total
                              Funds Segment    Operations      Company
Net income (loss) allocated   $           $         $   (137,040)
to Class A Shareholders—GAAP (133,231)           (3,809)
Reorganization expenses       400,602          -               400,602
Net income (loss) allocated
to the Och-Ziff Operating     (273,719)        -               (273,719)
Group A Units
Equity-based compensation    29,784           196             29,980
Income taxes                  17,219           6               17,225
Change in tax receivable      (5,411)          -               (5,411)
agreement liability
Amortization of deferred cash
compensation and expenses
related to                    (1,570)          -               (1,570)
 compensation arrangements
based on annual fund
performance
Allocations to Och-Ziff       380              -               380
Operating Group D Units
Depreciation and amortization 2,234            189             2,423
Net gains on early retirement (12,494)         -               (12,494)
of debt
Other                         (6)              (106)           (112)
Economic Income—Non-GAAP      $          $         20,264
                               23,788           (3,524)
Adjusted Income Taxes—Non-GAAP^(1)                             (3,431)
Distributable Earnings—Non-GAAP                                $    
                                                               16,833
Weighted-Average Class A Shares Outstanding                    117,016,886
Weighted-Average Partner Units                                 301,657,693
Weighted-Average Class A Restricted Share                      10,123,680
Units (RSUs)
Weighted-Average Adjusted Class A Shares                       428,798,259
Distributable Earnings Per Adjusted                            $      
 Class A Share—Non-GAAP                                      0.04
(1) Presents an estimate of income tax expense by assuming the conversion of
all Partner Units into Class A Shares, on a one-to-one basis, as well as the
impact of payments under the tax receivable agreement. Therefore, all income
(loss) of the Och-Ziff Operating Group allocated to the Partner Units is
treated as if it were allocated to Och-Ziff Capital Management Group LLC.

EXHIBIT 3
OCH-ZIFF CAPITAL MANAGEMENT GROUP LLC
Reconciliation of Non-GAAP Measures to the Respective GAAP Measures
(Unaudited)
(dollars in thousands, except per share amounts)
                             Year Ended December 31, 2012
                             Och-Ziff          Other            Total
                             Funds Segment     Operations       Company
Net income (loss) allocated  $            $       
to Class A                   (314,582)           (1,244)      $  (315,826)
Shareholders—GAAP
Reorganization expenses      1,396,882         -                1,396,882
Net loss allocated to the
Och-Ziff Operating Group A   (556,500)         -                (556,500)
Units
Equity-based compensation   85,927            79               86,006
Income taxes                 79,076            9                79,085
Change in tax receivable     (13,421)          -                (13,421)
agreement liability
Depreciation and             8,611             751              9,362
amortization
Allocations to Och-Ziff      9,296             -                9,296
Operating Group D Units
Net gains on early           -                 -                -
retirement of debt
Amortization of deferred
cash compensation and
expenses related to          -                 -                -
 compensation arrangements
based on annual fund
performance
Other                        (98)              (672)            (770)
Economic Income—Non-GAAP     $           $         694,114
                             695,191            (1,077)
Adjusted Income Taxes—Non-GAAP^(1)                              (156,686)
Distributable Earnings—Non-GAAP                                 $   537,428
Weighted-Average Class A Shares Outstanding                     142,970,660
Weighted-Average Partner Units                                  303,923,127
Weighted-Average Class A Restricted Share                       8,216,856
Units (RSUs)
Weighted-Average Adjusted Class A Shares                        455,110,643
Distributable Earnings Per Adjusted                             $      
 Class A Share—Non-GAAP                                       1.18
                             Year Ended December 31, 2011
                             Och-Ziff          Other            Total
                             Funds Segment     Operations       Company
Net income (loss) allocated  $            $       
to Class A                   (419,469)             479      $  (418,990)
Shareholders—GAAP
Reorganization expenses      1,614,363         -                1,614,363
Net loss allocated to the
Och-Ziff Operating Group A   (1,088,514)       -                (1,088,514)
Units
Equity-based compensation   128,785           131              128,916
Income taxes                 59,793            (212)            59,581
Change in tax receivable     (21,768)          -                (21,768)
agreement liability
Depreciation and             8,928             748              9,676
amortization
Allocations to Och-Ziff      2,433             -                2,433
Operating Group D Units
Net gains on early           (12,494)          -                (12,494)
retirement of debt
Amortization of deferred
cash compensation and
expenses related to          600               -                600
 compensation arrangements
based on annual fund
performance
Other                        279               (310)            (31)
Economic Income—Non-GAAP     $           $         273,772
                             272,936               836
Adjusted Income Taxes—Non-GAAP^(1)                              (74,176)
Distributable Earnings—Non-GAAP                                 $   199,596
Weighted-Average Class A Shares Outstanding                     102,848,812
Weighted-Average Partner Units                                  303,681,837
Weighted-Average Class A Restricted Share                       12,037,663
Units (RSUs)
Weighted-Average Adjusted Class A Shares                        418,568,312
Distributable Earnings Per Adjusted                             $     
 Class A Share—Non-GAAP                                       0.48
(1) Presents an estimate of income tax expense by assuming the conversion of
all Partner Units into Class A Shares, on a one-to-one basis, as well as the
impact of payments under the tax receivable agreement. Therefore, all income
(loss) of the Och-Ziff Operating Group allocated to the Partner Units is
treated as if it were allocated to Och-Ziff Capital Management Group LLC.

EXHIBIT 4
OCH-ZIFF CAPITAL MANAGEMENT GROUP LLC
Components of Economic Income and Reconciliation of These Non-GAAP
Measures to the Respective GAAP Measures (Unaudited)
(dollars in thousands)
                             Three Months Ended December 31, 2012
                             Och-Ziff          Other             Total
                             Funds Segment     Operations        Company
Management fees—GAAP         $           $          $ 130,478
                             127,531             2,947
Adjustment to management     (3,594)           -                 (3,594)
fees^(1)
Management Fees—Economic     123,937           2,947             126,884
Income Basis—Non-GAAP
Incentive income—GAAP        568,011           -                 568,011
Adjustment to incentive      4,707             -                 4,707
income^(2)
Incentive Income—Economic    572,718           -                 572,718
Income Basis—Non-GAAP
Other revenues^(3)          160               3                 163
Total Revenues—Economic      $           $          $ 699,765
Income Basis—Non-GAAP        696,815             2,950
Compensation and             $           $          $ 262,028
benefits—GAAP                254,667             7,361
Adjustment to compensation   (34,135)          (21)              (34,156)
and benefits^(4)
Compensation and             $           $       
Benefits—Economic Income     220,532             7,340        $ 227,872
Basis—Non-GAAP
Interest expense and         $          $       
general, administrative and  26,421                431       $  26,852
other expenses—GAAP
Adjustment to interest
expense and general,         3,640             (189)             3,451
administrative and other
expenses^(5)
Non-Compensation             $          $       
Expenses—Economic Income     30,061                242       $  30,303
Basis—Non-GAAP
Net gains on investments in  $          $       
Och-Ziff funds and joint       245               -      $     245
ventures—GAAP
Adjustment to net gains on
investments in Och-Ziff      28                -                 28
funds and joint ventures^(6)
Net Gains on Joint           $          $          $     273
Ventures—GAAP^(7)             273               -
Net income (loss) allocated  $           $       
to noncontrolling            155,172            52,011         $ 207,183
interests—GAAP
Adjustment to net income
(loss) allocated to          (155,177)         (53,102)          (208,279)
noncontrolling interests^(8)
Net Loss Allocated to
Noncontrolling               $          $          $  (1,096)
Interests—Economic              (5)           (1,091)
 Income Basis—Non-GAAP
                             Three Months Ended December 31, 2011
                             Och-Ziff          Other             Total
                             Funds Segment     Operations        Company
Management fees—GAAP         $           $          $ 122,651
                             120,252             2,399
Adjustment to management     (4,035)           -                 (4,035)
fees^(1)
Management Fees—Economic     116,217           2,399             118,616
Income Basis—Non-GAAP
Incentive income—GAAP        43,135            -                 43,135
Adjustment to incentive      -                 -                 -
income^(2)
Incentive Income—Economic    43,135            -                 43,135
Income Basis—Non-GAAP
Other revenues^(3)          275               344               619
Total Revenues—Economic      $           $          $  162,370
Income Basis—Non-GAAP        159,627             2,743
Compensation and             $           $          $ 151,186
benefits—GAAP                144,229             6,957
Adjustment to compensation   (28,596)          (196)             (28,792)
and benefits^(4)
Compensation and             $           $       
Benefits—Economic Income     115,633              6,761       $  122,394
Basis—Non-GAAP
Interest expense and         $          $       
general, administrative and  22,371                714       $  23,085
other expenses—GAAP
Adjustment to interest
expense and general,         (1,981)           (189)             (2,170)
administrative and other
expenses^(5)
Non-Compensation             $          $       
Expenses—Economic Income     20,390                525       $   20,915
Basis—Non-GAAP
Net gains on investments in  $          $       
Och-Ziff funds and joint       190               29      $     219
ventures—GAAP
Adjustment to net gains on
investments in Och-Ziff      (6)               -                 (6)
funds and joint ventures^(6)
Net Gains on Joint           $          $          $    
Ventures—GAAP^(7)             184               29      213
Net income (loss) allocated  $            $       
to noncontrolling            (275,240)          17,542         $ (257,698)
interests—GAAP
Adjustment to net income
(loss) allocated to          275,240           (18,532)          256,708
noncontrolling interests^(8)
Net Loss Allocated to
Noncontrolling               $          $          $    (990)
Interests—Economic              -             (990)
 Income Basis—Non-GAAP
(1) Adjustment to present management fees net of recurring placement and
related service fees, as management considers these fees a reduction in
management fees, not an expense. The impact of eliminations related to the
consolidated Och-Ziff funds is also removed.
(2) Adjustment to exclude the impact of eliminations related to the
consolidated Och-Ziff funds.
(3) Other revenues is presented on a GAAP basis, accordingly no adjustment to
or reconciliation of this item is presented.
(4) Adjustment to exclude equity-based compensation, as management does not
consider these non-cash expenses to be reflective of the operating performance
of the Company. Additionally, the full amount of deferred cash compensation
and expenses related to compensation arrangements based on annual investment
performance is recognized on the date it is determined (generally in the
fourth quarter of each year), as management determines the total amount of
compensation based on the Company's performance in the year of the award.
(5) Adjustment to exclude depreciation, amortization and changes in the tax
receivable agreement liability, as management does not consider these items to
be reflective of the operating performance of the Company. Additionally,
recurring placement and related service fees are excluded, as management
considers these fees a reduction in management fees, not an expense.
(6) Adjustment to exclude net gains (losses) on investments in Och-Ziff funds,
as management does not consider these gains (losses) to be reflective of the
operating performance of the Company.
(7) Represents the net gains on joint ventures established to expand certain
of the Company's private investments platforms.
(8) Adjustment to exclude amounts allocated to the executive managing
directors and the Ziffs on their interests in the Och-Ziff Operating Group, as
management reviews the operating performance of the Company at the Och-Ziff
Operating Group level. The Company conducts substantially all of its
activities through the Och-Ziff Operating Group. Additionally, the impact of
the consolidated Och-Ziff funds, including the allocation of earnings (losses)
to investors in those funds, is also removed.

EXHIBIT 5
OCH-ZIFF CAPITAL MANAGEMENT GROUP LLC
Components of Economic Income and Reconciliation of These Non-GAAP
Measures to the Respective GAAP Measures (Unaudited)
(dollars in thousands)
                            Year Ended December 31, 2012
                            Och-Ziff            Other           Total
                            Funds Segment       Operations      Company
Management fees—GAAP        $             $         $   505,948
                            495,332               10,616
Adjustment to management    (15,953)            -               (15,953)
fees^(1)
Management Fees—Economic    479,379             10,616          489,995
Income Basis—Non-GAAP
Incentive income—GAAP       595,727             -               595,727
Adjustment to incentive     4,707               -               4,707
income^(2)
Incentive Income—Economic   600,434             -               600,434
Income Basis—Non-GAAP
Other revenues^(3)         930                 108             1,038
Total Revenues—Economic     $               $         $  1,091,467
Income Basis—Non-GAAP       1,080,743             10,724
Compensation and            $             $         $   389,153
benefits—GAAP               378,878               10,275
Adjustment to compensation  (95,223)            (79)            (95,302)
and benefits^(4)
Compensation and            $             $      
Benefits—Economic Income    283,655                10,196    $   293,851
Basis—Non-GAAP
Interest expense and        $             $      
general, administrative and 120,783                2,159    $   122,942
other expenses—GAAP
Adjustment to interest
expense and general,        (18,570)            (751)           (19,321)
administrative and other
expenses^(5)
Non-Compensation            $             $      
Expenses—Economic Income    102,213                 1,408   $   103,621
Basis—Non-GAAP
Net gains (losses) on
investments in Och-Ziff     $           $         $     
funds and joint              385                  (111)  274
ventures—GAAP
Adjustment to net gains
(losses) on investments in  (75)                -               (75)
Och-Ziff funds and joint
ventures^(6)
Net Gains (Losses) on Joint $           $         $      
Ventures—GAAP^(7)           310                  (111)  199
Net income (loss) allocated $              $      
to noncontrolling           (455,826)            147,646      $  (308,180)
interests—GAAP
Adjustment to net income
(loss) allocated to         455,820             (147,560)       308,260
noncontrolling
interests^(8)
Net Income (Loss) Allocated
to Noncontrolling           $           $         $      
Interests—Economic            (6)                   86  80
 Income Basis—Non-GAAP
                            Year Ended December 31, 2011
                            Och-Ziff            Other           Total
                            Funds Segment       Operations      Company
Management fees—GAAP        $             $         $   500,857
                            486,215               14,642
Adjustment to management    (14,665)            -               (14,665)
fees^(1)
Management Fees—Economic    471,550             14,642          486,192
Income Basis—Non-GAAP
Incentive income—GAAP       65,026              -               65,026
Adjustment to incentive     -                   -               -
income^(2)
Incentive Income—Economic   65,026              -               65,026
Income Basis—Non-GAAP
Other revenues^(3)         1,729               529             2,258
Total Revenues—Economic     $             $         $   553,476
Income Basis—Non-GAAP       538,305                15,171
Compensation and            $             $         $   325,008
benefits—GAAP               315,327                9,681
Adjustment to compensation  (131,752)           (131)           (131,883)
and benefits^(4)
Compensation and            $             $      
Benefits—Economic Income    183,575                9,550    $   193,125
Basis—Non-GAAP
Interest expense and        $            $      
general, administrative and 87,897                 4,322    $    92,219
other expenses—GAAP
Adjustment to interest
expense and general,        (5,634)             (748)           (6,382)
administrative and other
expenses^(5)
Non-Compensation            $            $      
Expenses—Economic Income    82,263                 3,574    $    85,837
Basis—Non-GAAP
Net gains (losses) on
investments in Och-Ziff     $           $         $     
funds and joint              509                   123   632
ventures—GAAP
Adjustment to net gains
(losses) on investments in  (40)                -               (40)
Och-Ziff funds and joint
ventures^(6)
Net Gains (Losses) on Joint $           $         $     
Ventures—GAAP^(7)           469                   123  592
Net income (loss) allocated $                $      
to noncontrolling           (1,092,517)          40,702     $ (1,051,815)
interests—GAAP
Adjustment to net income
(loss) allocated to         1,092,517           (39,368)        1,053,149
noncontrolling
interests^(8)
Net Income (Loss) Allocated
to Noncontrolling           $           $         $    
Interests—Economic            -                  1,334   1,334
 Income Basis—Non-GAAP
(1) Adjustment to present management fees net of recurring placement and
related service fees, as management considers these fees a reduction in
management fees, not an expense. The impact of eliminations related to the
consolidated Och-Ziff funds is also removed.
(2) Adjustment to exclude the impact of eliminations related to the
consolidated Och-Ziff funds.
(3) Other revenues is presented on a GAAP basis, accordingly no adjustment to
or reconciliation of this item is presented.
(4) Adjustment to exclude equity-based compensation, as management does not
consider these non-cash expenses to be reflective of the operating performance
of the Company. Additionally, the full amount of deferred cash compensation
and expenses related to compensation arrangements based on annual investment
performance is recognized on the date it is determined (generally in the
fourth quarter of each year), as management determines the total amount of
compensation based on the Company's performance in the year of the award.
(5) Adjustment to exclude depreciation, amortization and changes in the tax
receivable agreement liability, as management does not consider these items to
be reflective of the operating performance of the Company. Additionally,
recurring placement and related service fees are excluded, as management
considers these fees a reduction in management fees, not an expense.
(6) Adjustment to exclude net gains (losses) on investments in Och-Ziff funds,
as management does not consider these gains (losses) to be reflective of the
operating performance of the Company.
(7) Represents the net gains (losses)on joint ventures established to expand
certain of the Company's private investments platforms.
(8) Adjustment to exclude amounts allocated to the executive managing
directors and the Ziffs on their interests in the Och-Ziff Operating Group, as
management reviews the operating performance of the Company at the Och-Ziff
Operating Group level. The Company conducts substantially all of its
activities through the Och-Ziff Operating Group. Additionally, the impact of
the consolidated Och-Ziff funds, including the allocation of earnings (losses)
to investors in those funds, is also removed.

EXHIBIT 6
OCH-ZIFF CAPITAL MANAGEMENT GROUP LLC
Financial Supplement (Unaudited)
(dollars in millions)
                           Three Months
                           Ended           Year Ended December 31,
                           December 31,
                           2012            2012         2011         2010
Total Assets Under
Management^(1)
Beginning of period        $      
balance                              $ 28,766    $ 27,935    $ 23,080
                           31,269
Net flows                  458             480          1,116        2,693
Appreciation               877             3,358        (285)        2,162
(depreciation)^(2)
                           $      
End of Period Balance                $ 32,604    $ 28,766    $ 27,935
                           32,604
Assets Under Management by
Fund^(1)
OZ Master Fund                             $ 21,780    $ 20,198    $ 19,625
OZ Europe Master Fund                      1,961        2,272        2,958
OZ Asia Master Fund                        1,394        1,620        1,535
OZ Global Special                          1,053        976          1,240
Investments Master Fund
Net Returns^(3)
OZ Master Fund             2.8%            11.6%        -0.5%        8.5%
OZ Europe Master Fund      2.0%            8.6%         -4.9%        7.5%
OZ Asia Master Fund        2.7%            7.0%         -3.8%        9.9%
OZ Global Special          2.2%            9.8%         3.2%         13.4%
Investments Master Fund
 Past performance is no indication or guarantee of future
results.
(1) Includes amounts invested by the Company, its executive managing
directors, employees and certain other related parties for which the Company
charged no management fees and received no incentive income for the periods
presented. Amounts presented in this table are not the amounts used to
calculate management fees and incentive income for the respective periods.
(2) Appreciation (depreciation) reflects the aggregate net capital
appreciation (depreciation) for the entire period and is presented on a total
return basis, net of all fees and expenses (except incentive income on
unrealized gains attributable to investments that the Company, as investment
manager, determines lack a readily ascertainable fair value, are illiquid or
otherwise should be held until the resolution of a special event or
circumstance ("Special Investments") that could reduce returns on these
investments at the time of realization), and includes the reinvestment of all
dividends and other income. Management fees and incentive income vary by
product.
(3) Net return represents a composite of the average return of the feeder
funds that comprise each of the master funds presented. Net return is
presented on a total return basis, net of all fees and expenses (except
incentive income on Special Investments that could reduce returns on these
investments at the time of realization), and includes the reinvestment of all
dividends and other income. Performance includes realized and unrealized gains
and losses attributable to Special Investments and initial public offering
investments that are not allocated to all investors in the feeder funds.
Investors that were not allocated Special Investments and/or initial public
offering investments may experience materially different returns.

EXHIBIT 7
OCH-ZIFF CAPITAL MANAGEMENT GROUP LLC
Fund Performance of Certain Och-Ziff Funds (Unaudited)
                  2012
                  January        February      March     April        May
Net Returns^(1)
OZ Master Fund    1.59%          1.64%         1.38%     0.40%        -0.44%
OZ Europe Master  1.82%          1.99%         0.97%     -0.02%       -1.81%
Fund
OZ Asia Master    2.64%          2.26%         0.91%     -0.74%       -2.22%
Fund
OZ Global Special
Investments       1.39%          2.01%         1.60%     0.42%        -0.72%
Master Fund
S&P 500 Index^(2) 4.48%          4.32%         3.29%     -0.63%       -6.01%
MSCI World        4.36%          4.78%         1.82%     -1.46%       -6.67%
Index^(2)
                  2012
                  June           July          August    September    October
Net Returns^(1)
OZ Master Fund    0.23%          0.78%         1.27%     1.43%        0.86%
OZ Europe Master  0.43%          0.49%         0.75%     1.69%        0.91%
Fund
OZ Asia Master    -0.50%         0.45%         0.37%     1.07%        -0.80%
Fund
OZ Global Special
Investments       0.18%          0.49%         0.62%     1.30%        0.12%
Master Fund
S&P 500 Index^(2) 4.12%          1.39%         2.25%     2.58%        -1.85%
MSCI World        4.33%          1.37%         2.05%     2.19%        -0.43%
Index^(2)
                  2012
                  November       December      FY2012
Net Returns^(1)
OZ Master Fund    0.54%          1.33%         11.56%
OZ Europe Master  0.71%          0.36%         8.55%
Fund
OZ Asia Master    1.05%          2.42%         7.01%
Fund
OZ Global Special
Investments       0.32%          1.73%         9.84%
Master Fund
S&P 500 Index^(2) 0.58%          0.91%         16.00%
MSCI World        1.52%          1.97%         16.42%
Index^(2)
                  2011
                  January        February      March     April        May
Net Returns^(1)
OZ Master Fund    1.71%          1.14%         0.48%     0.73%        -0.04%
OZ Europe Master  2.29%          0.91%         0.34%     0.38%        0.20%
Fund
OZ Asia Master    0.98%          0.03%         0.44%     0.80%        -1.68%
Fund
OZ Global Special
Investments       2.20%          1.77%         0.59%     0.95%        0.38%
Master Fund
S&P 500 Index^(2) 2.37%          3.43%         0.04%     2.96%        -1.13%
MSCI World        1.96%          2.97%         -1.23%    2.33%        -1.17%
Index^(2)
                  2011
                  June           July          August    September    October
Net Returns^(1)
OZ Master Fund    -0.71%         -0.01%        -1.84%    -1.94%       0.66%
OZ Europe Master  -2.21%         -1.68%        -2.71%    -0.95%       0.21%
Fund
OZ Asia Master    0.78%          0.88%         -1.70%    -4.05%       2.40%
Fund
OZ Global Special
Investments       0.49%          -0.36%        -1.75%    -1.55%       0.34%
Master Fund
S&P 500 Index^(2) -1.67%         -2.03%        -5.43%    -7.03%       10.93%
MSCI World        -1.55%         -2.70%        -6.72%    -6.02%       8.58%
Index^(2)
                  2011
                  November       December      FY2011
Net Returns^(1)
OZ Master Fund    -0.57%         -0.02%        -0.48%
OZ Europe Master  -1.57%         -0.14%        -4.93%
Fund
OZ Asia Master    -0.73%         -1.85%        -3.80%
Fund
OZ Global Special
Investments       0.30%          -0.17%        3.16%
Master Fund
S&P 500 Index^(2) -0.22%         1.02%         2.11%
MSCI World        -1.22%         0.62%         -4.96%
Index^(2)
Past performance is no indication or guarantee of future results.
(1) Net return represents a composite of the average return of the feeder
funds that comprise each of the master funds presented. Net return is
presented on a total return basis, net of all fees and expenses (except
incentive income on unrealized gains attributable to investments that the
Company, as investment manager, determines lack a readily ascertainable fair
value, are illiquid or otherwise should be held until the resolution of a
special event or circumstance ("Special Investments") that could reduce
returns on these investments at the time of realization), and includes the
reinvestment of all dividends and other income. Performance includes realized
and unrealized gains and losses attributable to Special Investments and
initial public offering investments that are not allocated to all investors in
the feeder funds. Investors that were not allocated Special Investments and/or
initial public offering investments may experience materially different
returns.
(2) This comparison shows the returns of the S&P 500 Index (SPTR) and the MSCI
World Index (GDDLWI) ("Broader Market Indices") against certain Och-Ziff funds
(the "funds"). This comparison is intended solely for illustrative purposes to
show a historical comparison of the funds to the broader equity markets, as
represented by the Broader Market Indices, and should not be considered as an
indication of how the funds will perform relative to the Broader Market
Indices in the future. The Broader Market Indices are not performance
benchmarks of the funds. The funds are not managed to correlate in any way
with the returns or composition of the Broader Market Indices, which are
unmanaged. It is not possible to invest in an unmanaged index. You should not
assume that there is any material overlap between the securities in the funds
and those that comprise the Broader Market Indices. The S&P 500 Index is an
equity index whose value is calculated as the free-float weighted average of
the share prices of the 500 large-cap companies listed on the NYSE and NASDAQ.
The MSCI World Index is a free-float adjusted market capitalization weighted
index that is designed to measure the equity market performance of developed
markets. Returns of the Broader Market Indices have not been reduced by fees
and expenses associated with investing in securities and include the
reinvestment of dividends.

EXHIBIT 8
OCH-ZIFF CAPITAL MANAGEMENT GROUP LLC
Financial Supplement (Unaudited)
As of January 1, 2013
OZ Master Fund by Investment Strategy
Long/Short Equity Special Situations                        45%
Structured Credit                                           24%
Convertible and Derivative Arbitrage                        12%
Corporate Credit                                            10%
Merger Arbitrage                                            5%
Private Investments                                         4%
Cash                                                        0%
Investors by Type^(1)
Pensions                                                    30%
Fund-of-Funds                                               16%
Corporate, Institutional and Other                          14%
Foundations and Endowments                                  13%
Private Banks                                               11%
Related Parties                                             9%
Family Offices and Individuals                              7%
Assets Under Management by Geography^(2)
North America                                               60%
Europe                                                      25%
Asia                                                        15%
Investors by Geography^(1)
North America                                               73%
Europe                                                      16%
Asia and Other                                              11%
(1) Presents the composition of our fund investor base across our funds
excluding investors in our CLOs.
(2) The North American exposure includes the United States, Canada, Central
America and South America. The European exposure includes Africa and the
Middle East. The Asian exposure includes Australia and New Zealand.

SOURCE Och-Ziff Capital Management Group LLC

Website: http://www.ozcap.com
Contact: Investor Relations Contact: Tina Madon, Managing Director, Head of
Investor Relations, Och-Ziff Capital Management Group LLC, +1-212-719-7381,
tina.madon@ozcap.com; Media Relations Contact: George Sard or Jonathan
Gasthalter, Sard Verbinnen & Co, +1-212-687-8080