CARTER LEDYARD & MILBURN LLP ELECTS PARTNER AND NAMES THREE NEW COUNSEL

NEW YORK, January 19, 2006 Carter Ledyard & Milburn LLP is pleased to announce that Austin D. Keyes has been elected to partner and that Christine A. Fazio, John J. Hanley and Melinda Poon have been named to counsel. They were previously associates in the firm’s corporate (Mr. Keyes and Mr. Hanley), environmental (Ms. Fazio) and real estate (Ms. Poon) practices.

“These four attorneys have made excellent contributions to our firm, and we are pleased to elevate them today,” said Judith A. Lockhart, managing partner. “Their promotion strengthens the firm’s ability to offer in-depth services across a number of practice areas and reflects in particular out commitment to our growing clientele.”

Austin D. Keyes

Mr. Keyes, a member of the firm’s corporate department, has substantial experience with a wide range of corporate issues. His work has ranged from M&A to joint ventures and strategic alliances to employment, shareholder, investment and general commercial contracts and agreements. From July 1999 through January 2000, he was secunded to the legal department of the U.S. headquarters of United Business Media plc. Recently, he served as an integral member of the firm’s legal team responsible for the launch of the streetTRACKS® Gold Trust on the New York Stock Exchange.

Mr. Keyes received his B.A. with honors in 1987 from Trinity College and his J.D. in 1997 from Fordham University School of Law. He is affiliated with the Association of the Bar of the City of New York and the New York County Lawyers Association. Mr. Keyes, age 40, is a life long resident of New York City.

Christine A. Fazio

Ms. Fazio practices with Carter Ledyard’s Environmental group, and her work includes litigation, land use, environmental impact analyses, project permitting, administrative proceedings and regulatory compliance. From 1991 until 2000, she worked at the U.S. Environmental Protection Agency, Region 2, beginning as a small business liaison and then as an Environmental Scientist within the Air Programs Branch, working on the Title IV Acid Rain, New Source Review and emissions trading programs as well as serving as the national lead on the Title V Operating Permit Program. She has recently worked on the environmental impact statement for the redevelopment of the World Trade Center site on behalf of the Lower Manhattan Development Corporation and on numerous environmental reviews and permitting actions of new power plants for both the Long Island Power Authority and New York Power Authority.

Ms. Fazio received her B.A. in 1987 from the University of Rochester (magna cum laude), her M.P.A. in 1993 from New York University and her J.D. in 2000 from the Fordham University School of Law, cum laude. She is affiliated with the Association of the Bar of the City of New York, currently serving as the Chair of the Environmental Law Committee. She served previously as the Secretary of the Environmental Law Committee and of the Task Force on Downtown Redevelopment. Ms. Fazio, age 40, lives in New York City.

John J. Hanley

Mr. Hanley works in the firm’s corporate group, specializing in the representation of hedge funds, investment banks, trading desks, and special purpose vehicles in the purchase and sale of distressed assets. Mr. Hanley has negotiated and documented transactions involving the transfer of loans, securities and trade claims in the U.S., European, Latin American and Asia Pacific markets. He is actively involved in establishing market practice and developing standards through his participation in the Loan Syndications and Trading Association Trade Practices and Forms Committee.

Mr. Hanley received his B.A. in 1996 from John Jay College of Criminal Justice (summa cum laude) and his J.D. in 2000 from Fordham University School of Law where he was the Associate Articles Editor of the Fordham Urban Law Journal. Mr. Hanley, age 37, lives in Marlboro, New Jersey.

Melinda Poon

Ms. Poon is part of the firm’s real estate practice and her work includes commercial sales and acquisitions, commercial leasing, mortgage loans, real estate aspects of corporate mergers and acquisitions, general representation of tax-exempt organizations in real estate and financing matters, including tax-exempt bond financings, and residential sales and purchases. She’s also worked within the commercial lending practice on secured bank loans and credit facilities.

Ms. Poon received her B.S. in 1991 from New York University (cum laude) and her J.D. in 1997 from the University of Pennsylvania Law School where she was the Managing Editor of Hybrid: The University of Pennsylvania Journal of Law and Social Change. She is affiliated with The Association of the Bar of the City of New York and the New York State Bar Association. Ms. Poon, age 35, lives in New York City.

Carter Ledyard & Milburn LLP (www.clm.com), established in 1854, has approximately 104 attorneys and has been headquartered on Wall Street since its founding and has additional offices in midtown Manhattan and Washington, DC. Carter Ledyard's general practice includes corporate, securities, mergers and acquisitions, private equity, litigation, intellectual property, environmental, employment, media and technology, immigration, investment regulation, antitrust, trusts and estates, maritime, ERISA, 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.