FAITH COLISH JOINS CARTER, LEDYARD & MILBURN’S CORPORATE DEPARTMENT

NEW YORK, October 22, 2002 – Wall Street law firm Carter, Ledyard & Milburn is pleased to announce that securities attorney Faith Colish joined the firm as counsel on October 1. Ms. Colish was previously in private practice.

“We are very pleased to welcome Faith to our firm,” said Robert A. McTamaney head of Carter, Ledyard’s Corporate Department. “Faith’s extensive background in securities laws, commodities regulation and general corporate law will be an excellent complement to our existing corporate practice, and reflects our commitment to further strengthening our financial services practice.”

Ms. Colish has over 24 years of experience in private practice representing securities broker-dealers and money managers, investment advisers, issuers involved in private placements of securities, and registered investment companies. She has extensive experience in process for approval of broker-dealers as members of NASD and national securities exchanges. Before starting her own practice, Ms. Colish was partner at Delson & Gordon where she dealt with a wide variety of SEC-related and corporate law matters, including registration of securities, private placements, regulation of broker-dealers and investment advisers, proxy statements, tender offers, acquisition and divestitures, and SEC reporting rules.

She has been a director of Neuberger Berman mutual funds since 1982 and is currently a Director or Trustee of all of the Neuberger Berman funds and Chairman of their Contract Review Committees. Ms. Colish also serves as Director of the American Bar Retirement Association. Additionally, she served on the Legal Advisory Board of the National Association of Securities Dealers, Inc., is a member of the Market Operations Review Committee of Nasdaq, Inc., and was named as (Mutual Fund) Trustee of the Year by Institutional Investor for 2001. A frequent lecturer and author on broker-dealer and investment adviser issues, Ms. Colish sits on a number of editorial Advisory Boards including The Bureau of National Affairs Securities Regulation Law Report, Prentice Hall Law & Business Insights, and Board IQ.

Ms. Colish attended Smith College and graduated from University of Michigan in 1956 and received her J.D. from Columbia Law School in 1960

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.