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New International Securities Partner Joins Baker & McKenzie Paris

Paris, 9 September 2003 - Baker & McKenzie announced today that Raphaële François-Poncet has joined the Paris office of the Firm as an international partner. The Firm now has 19 international partners in Paris.

Raphaële François-Poncet, 41, attorney and member of the Paris bar (Institut d'Etudes Politiques of Paris 1986, DEA Droit des Sociétés Paris II 1985) has joined the Firm to further develop its securities and capital markets practice which is part of the Mergers & Acquisitions / Corporate Law group. From 1987 to 1990, she practised at Shearman & Sterling and Cabinet Klein Goddard Associés, of which she was made a partner in 1995.

During her time with Cabinet Klein Goddard Associés she developed a particular expertise in providing legal advice and consultancy services to non-French companies listed in France. Since January 1991 she has been a partner with HSD Ernst & Young, where she was responsible for the securities team within the mergers & acquisitions department. Raphaële François-Poncet currently advises several French and foreign companies in their mergers and acquisitions operations (public exchange offerings and takeover bids) and calls on capital markets (primary or secondary admissions) as well as in public and criminal liability of their officers, in particular under the new regulations (Financial Security Act, Sarbanes-Oxley Act ).

Commenting on the appointment, Eric Lasry, Managing Partner of the Paris office of Baker & McKenzie, said, "Raphaële François-Poncet, thanks to her 15 years of experience in arranging financial transactions, will undoubtedly strengthen Baker & McKenzie's securities practice as well as offering the Firm's French and international clients global expertise in all their strategic operations".

Raphaële François-Poncet added, "I am delighted to join Baker & McKenzie whose practical experience of cross border mergers and acquisitions transactions in Europe and beyond is among the most renowned. With 66 offices in 36 countries around the world, Baker & McKenzie is distinguished by its outstanding capability to mobilise its resources and react rapidly and efficiently for the benefit of its clients".

Baker & McKenzie Adds Commercial Real Estate Partner to Banking & Finance Team in Toronto

Toronto, September 18, 2003 – Baker & McKenzie announced today that lawyer Michael Brady has joined the Firm's Toronto office as a Partner in the Banking & Finance Practice Group. Mr. Brady will enhance the Firm's real estate and finance capabilities in the Canada marketplace, including its growing commercial mortgage-backed securitization practice. He brings ten years of experience in secured lending and commercial real estate transactions.

"Our securitization practice is growing throughout the region under the leadership of Richard Rudder and David Wolin in New York. Mike's joining will enhance our resources for clients eager to advance their Canadian business through securitization and other specialized areas of structured finance," said John Conroy, Global Coordinator of Baker & McKenzie's Banking & Finance Group and the Firm's North American Managing Partner. "His experience in secured lending and commercial real estate, as well as other areas of corporate and commercial law, will be an asset in facilitating the securitization needs of our clients and in helping them access capital markets."

Mr. Brady has acted for a large and diverse clientele in the secured lending and real estate industries, including institutional lenders, pension funds, entrepreneurs, private developers and REITs.

He received his Masters of Business Administration and Bachelor of Laws from Dalhousie University in 1992, and was admitted to the Ontario Bar in 1994.

"We are delighted to welcome Mike to the Toronto office and eager to continue to respond to our clients' needs in the real estate and banking industries," said Stewart Saxe, Managing Partner of the Firm's Canadian offices. "His addition represents the continued effort to attract talented attorneys of such high caliber to advance innovative and pragmatic business solutions for companies with business interests in Canada and around the world. "

Baker & McKenzie Partner Acknowledged for Contributions in Vietnam

Ho Chi Minh City, 4 November 2003 – Baker & McKenzie partner Fred Burke was last week presented an award by the Ministry of Justice in Vietnam for "Many Active Contributions to International Cooperation in the Field of Law".

The award was the first of its kind presented to foreign lawyers in Vietnam, and Fred was one of 4 international lawyers to receive this prestigious recognition. Speaking on the win, Fred said, "it is a great honour to have been acknowledged by the Government of Vietnam in this way. In the past decade that we've been working here, we've seen tremendous changes and the future promises even greater progress. All of us at Baker & McKenzie remain committed to the economic and social development of the country and in particular the legal profession."

Fred, Managing Partner of Baker & McKenzie's Hanoi and Ho Chi Minh City offices has been resident in Vietnam since 1993. The first American student to study at the University of Ho Chi Minh City since 1975, he speaks Vietnamese and holds the positions of Co-Chairman of the Executive Committee of the Vietnam Business Forum, Secretary of the American Chamber of Commerce and Vice Chairman of the Hong Kong Business Association of Vietnam.

The award comes just weeks after Global Counsel 3000 named Baker & McKenzie as the overall highest ranked law firm in Vietnam. The Vietnam offices were named as "leading" or "highly recommended" in all six categories the directory assessed this year, with higher rankings than any of the 26 other firms who made the list.

New International Tax Partner Joins Baker & McKenzie Brussels

Brussels, November 13, 2003 – Baker & McKenzie announced today that Philippe Lion has joined the Brussels office as an international partner. The Firm now has 13 international partners in Brussels.

Philippe Lion, formerly a tax director at PricewaterhouseCoopers, specialises in corporate tax and international tax planning for multinational companies, with a special focus on international tax structuring, structured finance, international reorganisations and tax optimisation strategies. He also has experience of German inbound and outbound tax strategies.

Philippe brings approximately 12 years of tax experience to Baker & McKenzie. Prior to joining PricewaterhouseCoopers in 1999, he worked for Tiberghien & Co. (1998-1999) and for Coopers & Lybrand (1992-1998) in Brussels, including an 18 month secondment to Frankfurt.

Philippe joins the highly regarded tax team in Baker & McKenzie's Brussels office, led by partner Alain Huyghe. The tax practice, which consists of 10 lawyers, advises on domestic and international tax issues.

Commenting on Lion's addition, Koen Vanhaerents, Managing Partner of Baker & McKenzie Belgium said, "Philippe Lion, thanks to his 12 years of tax experience, will be offering the Firm's Belgian and international clients global expertise in all their tax operations. We are proud to welcome him to our Firm".

Commenting on his joining Baker & McKenzie, Philippe Lion said: "Auditors independence rules are about to dramatically change the world of tax consultancy. Increasingly, law firms with a strong tax practice and a large network will become major players. In this context, I am very enthusiastic about joining Baker & McKenzie which, in my view, is the law firm with the best reputation when it comes to global tax advice and solutions".

Acts on Synthetic Securitisation of €1.6 Billion Portfolio of Dutch Residential Mortgages

London, 25 February 2004 - Baker & McKenzie announced today that it acted for Argenta Spaarbank N.V. (“Argenta”), the Belgian Bank, in relation to its synthetic securitisation of a €1.6 billion portfolio of Dutch Residential Mortgages. The transaction represents Argenta’s first residential mortgage backed securitisation (RMBS).

The transaction involved the use of a series of credit default swaps and was structured in order to enable Argenta to achieve capital relief. Dexia Bank Belgium acted as arranger of the transaction.

The team was led by Finance Partners Matthew Dening (London) and Jan Cerfontaine (Antwerp) with assistance from others in the London, Antwerp and Amsterdam offices.

Commenting on the transaction, Matthew Dening said “We were very pleased to assist Argenta with its first RMBS transaction. I am quite sure that we will see many more of these deals across Europe this year.”

Baker & McKenzie Hires New Securitisation Partner

London, March 11, 2004 - Baker & McKenzie is delighted to announce that securitisation specialist Paul-Michael Rebus is to join its Finance Department in London as a partner. Rebus joins the Firm from Cadwalader, Wickersham & Taft's London office.

Rebus's extensive securitisation experience includes acting on behalf of programme sponsors, leading teams in structuring a significant number of European and US multi-seller asset-backed commercial paper conduits, and acting on behalf of financial institutions across Europe, the US and Canada with respect to the securitisation of numerous classes of assets.

Rebus is the latest lateral securitisation hire by Baker & McKenzie, following the appointments of German partner Mark Odenbach earlier this year and US partners James L Gregory III in 2003, and Richard Rudder and David Wolin in late 2001.

Chris Hogan, Head of the Finance Department, commented, "We are delighted to welcome Paul-Michael to Baker & McKenzie. He brings with him a wealth of technical expertise in an area of leading-edge finance work which is currently the preserve of only a few firms. He joins a growing global securitisation practice which is ideally placed to take advantage of opportunities arising in the European market."

Paul-Michael Rebus said, "I am very excited about the opportunity to join Baker & McKenzie's Finance Group and to help build the global securitisation practice. Baker & McKenzie provides a tremendous platform from which to deliver global securitisation services to clients."

Rebus, 36, is qualified in England, New York and Alberta, Canada.

Chicago, Illinois, 11 October 2004 - Mr Conroy, a US national, took up his new role as Chairman at the conclusion of the firm's Annual Meeting in Barcelona last week. The Executive Committee is the primary management team of Baker & McKenzie which has responsibility for developing and implementing the firm's global strategy, as well as managing the day-to-day business of the firm. It consists of eight elected partners including the Chairman. A partner of the Chicago office since 1987, Mr Conroy has served on the Executive Committee for 6 years, the last 5 of which as North American Managing Partner. A distinguished Banking & Finance attorney, Mr Conroy has held numerous management roles during his career with Baker & McKenzie, including Chairman of the Global Banking & Finance Practice Group. As North American Managing Partner, he spearheaded a highly acclaimed program to fully integrate the firm's North American offices and introduced a new, discretionary based partner compensation system. "To have the opportunity to serve my partners as Chairman is a genuine privilege. Baker & McKenzie is a truly unique and extraordinary organization, with a heritage, culture and track record which sets it apart from the field. The firm is in excellent shape; aligned, focused and financially strong. I am confident that we can use this solid foundation as a springboard for the growth and success I know we are capable of achieving." Mr Conroy succeeds Mme Christine Lagarde as Chairman, who has assumed the role of Chairman of the Policy Committee with immediate effect. The Policy Committee consists of representatives from each Baker & McKenzie office. Its primary purpose is to make recommendations to the firm on policy issues, although it also has specific responsibilities such as electing new partners. A partner of the Paris office since 1987, Mme Lagarde was elected Chairman of the Executive Committee in 1999. An accomplished labor and anti-trust attorney, Mme Lagarde was elected Managing Partner of the Paris office in 1991 before joining the Executive Committee in 1995. In addition, Mme Lagarde served as Chairman of the European Regional Council and the Professional Development Committee from 1995 to 1998. A high profile, visionary and respected leader, Mme Lagarde led the firm to an aggregate increase in global fee income of 50% during her term as Chairman of the Executive Committee. Mme Lagarde was recently named the 76th most powerful woman in the world by Forbes magazine. Commenting on the announcements, Christine Lagarde said, "I am delighted to hand over the reins to my good friend and colleague John Conroy. Having had the privilege to work closely with John over many years, I know there is no individual more deserving or better equipped to take the firm forward than he. He has my warm congratulations on his appointment. I am proud to have an opportunity to continue to serve the firm as Chairman of the Policy Committee and look forward to the challenge of taking on a new role."

This represents an 8% increase on the previous year's income of US$1.134 billion. Of the total fees for fiscal year 2004, 42% was generated in Europe & Middle East, 34% in North & Latin America and 24% in Asia. Fueled by the growth in revenues and prudent cost management, both total net income and average profit per partner increased by 10% over the prior year. Commenting on the results, John Conroy, Chairman of the Executive Committee, said, "These impressive figures speak for themselves. In a challenging year for the legal industry we have generated strong revenue growth and improved income and per partner profitability across our practice. Our business is in robust financial health, and our strategy and investments are providing sustained returns. As I begin my term as Chairman, I look forward with confidence to further growth and success."