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For Immediate Release
Contact: Melinda M. Bascone
Director of Marketing
Carter Ledyard & Milburn LLP
212-238-8753
info@clm.com

CARTER, LEDYARD & MILBURN APPOINTS TWO PARTNERS AND FOUR COUNSEL

--Marks Substantial Growth, Together with 1997 Lateral Partner Additions--

Jean Tabberson have been named partners of the firm. It was also announced that Edmund J. Behan, Barbara B. Brown, Stephen V. Burger and Judith A. Lockhart became Counsel to the firm. The appointments, which were effective on January 1, follow a year in which five other lateral partners joined the firm. In recent years, Carter, Ledyard's partner-level staffing has grown by 30%, from 43 partners/counsel in 1994 to 52 partners/counsel today.

NEW PARTNERS

Elizabeth M. McDonald
Corporate Law

Elizabeth M. McDonald practices general corporate law and specializes in public and private mergers, acquisitions and dispositions and the private placement of equity securities. She represents multinational corporate clients in complex domestic and international transactions, including transnational joint ventures, licensing, manufacturing and distributorship arrangements and general commercial contracts. She was previously an associate at Carter, Ledyard. Ms. McDonald, 33, received her J.D. from Fordham University School of Law in 1990, and graduated cum laude from Syracuse University in 1986.

Jean Tabberson
Financial Products/Employee Benefits

Jean Tabberson specializes in all aspects of employee benefits and related tax laws, including the development of investment products for employee benefit plans. Currently, Ms. Tabberson's practice focuses on stable value products such as "Synthetic GICs" for employee benefit plans and other investors. Ms. Tabberson also has extensive experience with employee stock ownership plans and other stock-based benefit plans and their uses. She advises clients on executive compensation matters, including the design and implementation of sophisticated compensation arrangements, as well as employee benefits-related issues arising in corporate transactions. Having broad ERISA expertise, Ms. Tabberson has advised ERISA fiduciaries in all types of financial transactions. She joined Carter, Ledyard as Counsel in 1997. Ms. Tabberson, 36, received her J.D. from Notre Dame Law School in 1987 and her B.A. summa cum laude, from University of Minnesota in 1984. She is a member of the New York Bar.

"We are very pleased to have added Liz McDonald and Jean Tabberson as Partners and to have promoted four of the firm's other outstanding lawyers to be Counsel to our firm," said Robert A. McTamaney, Chairman of Carter, Ledyard's Corporate Department and a member of the firm's Executive Committee. "Together with the lateral partners who joined us last year, this group reflects the depth of Carter, Ledyard's expertise across a broad range of practice areas and the firm's continuing commitment to provide its clients with direct partner access to handle all of their legal matters, large and small."

NEW COUNSEL

Edmund J. Behan
Trusts & Estates

Edmund J. Behan specializes in tax, estate planning and administration and the representation of individual and corporate fiduciaries. Mr. Behan, 43, received his J.D. from University of Pennsylvania School of Law in 1982 , his B.A. from Wesleyan University in 1976, and is a member of the New York Bar.

Barbara B. Brown
Real Estate

Barbara B. Brown represents major developers, publicly traded corporations and public benefit entities in a wide variety of real estate matters. Ms. Brown, 42, received her J.D. from New York University School of Law in 1979, and her B.A., summa cum laude and Phi Beta Kappa, from Queens College of the City University of New York in 1976. She is a member of the New York Bar.

Stephen V. Burger
Corporate Law

Stephen V. Burger is active in the areas of initial public offerings, Regulation S/Rule 144A offerings, private placements, debt restructurings, shelf registrations, mergers and acquisitions, and periodic issuer reporting, and advises Canadian and other foreign issuers and broker-dealers concerning their obligations, and the opportunities available to them, under U.S. corporate and securities laws. Mr. Burger, 45, received his J.D. from Rutgers School of Law in 1980, and his B.A. with highest honors and Phi Beta Kappa from Rutgers College in 1975. He is a member of the New York Bar.

Judith A. Lockhart
Employment and Commercial Litigation

Judith A. Lockhart focuses in the areas of employment, including discrimination claims, employment policies and procedures, employment contracts, reductions-in-force and wage/hour issues. She represents architects/engineers, manufacturing companies, financial institutions and hospitals in a wide variety of product liability, health, employment and construction matters. Ms. Lockhart, 40, received her J.D. cum laude from Pace University School of Law in 1985 and her A.A.S. in 1982 and B.A.A. in 1983 from Pace University. She is admitted to the Connecticut and New York Bars.

Carter Ledyard & Milburn LLP (www.clm.com), established in 1854, has approximately 90 attorneys and has been headquartered on Wall Street since its founding. Carter Ledyard's general practice includes corporate, securities, mergers and acquisitions, broker-dealer, on-shore and off-shore hedge and other alternative investment funds, private equity, litigation, intellectual property, environmental, employment, media and technology, immigration, investment regulation, antitrust, art law, trusts and estates, maritime, ERISA, tax-exempt organizations, real estate, tax and bankruptcy. A significant part of the firm's practice involves representing overseas-based clients and their U.S. affiliates, financial institutions and other financial services providers, governmental entities and media and technology clients.

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