BAKER & MCKENZIE OPENS NEW OFFICE IN SHANGHAI

Shanghai, People's Republic of China, 13 February, 2003 - Baker & McKenzie, an international law firm with 65 offices in 35 countries and regions around the world, today announced the official opening of an office in Shanghai, China. The office, which is the Firm's second on the Chinese mainland following Beijing, expands Baker & McKenzie's long history of commitment to developing its business and offering assistance to its clients in the region. With over 30 years' experience in China, Baker & McKenzie was one of the first foreign law firms to receive a licence to operate in the Chinese mainland, and is widely considered to be one of the leading law firms in the market. Today's announcement underlines the Firm's long history of commitment to developing its business in China.

Speaking today at a press conference with Chinese and international media, Chairman of the Executive Committee of Baker & McKenzie, Christine Lagarde, commented on the depth of the Firm's practice in China: "As one of the first firms to work with the Chinese government, Baker & McKenzie hopes to continue to play an instrumental role in the development of Chinese law and the legal environment. A long-time pillar of the Chinese legal community, Baker & McKenzie has advised in relation to China's policy of liberalisation and reform, providing legal advice on WTO and numerous other issues. We are grateful to the Ministry of Justice for granting us permission to expand our presence in China. The Shanghai office allows us to better meet the increasing demands of our domestic and international clients in relation to international legal issues."

Baker & McKenzie's China Practice Group comprises of more than 50 lawyers and legal consultants, based in Chinese mainland, Hong Kong and the United States. Attorneys are highly proficient in multiple languages and represent numerous multinational corporations, including many Fortune 100 companies.

Baker & McKenzie's expansion in China brings further opportunity for progress in the local market. According to Danian Zhang, the Chief Representative of Baker & McKenzie in Shanghai, "Baker & McKenzie has long been recognized for its pre-eminent law practice in China. Our presence in Shanghai marks another milestone. As a leader in this market, we believe that our global reach and commitment to excellence will add to the pool of talented lawyers already working in Shanghai."

Significant increases in foreign investment and the economic success of 2002 serve as a driving force for modernization and change. In 2003, growth and a rapidly changing legal landscape will continue to mark China's progress. In addition to the reduction of tariffs, the liberalization of trade and investment, and the opening up of domestic sectors to foreign participation, China has also granted approval to a number of foreign law firms to operate in more than one city in China. This reform marks a shift in the legal industry and represents an expanding market where foreign firms work closely together with local law firms to provide quality of service and depth of expertise. Baker & McKenzie's in-depth local knowledge and extensive web of relationships in China, coupled with its global capabilities, ensures that clients receive first-class support for their China business activities.