Increasing Global Demand for Independent Tax Advisors Fuels Major Expansion of Taxand

"Increasing global demand for independent tax advisors has been a
driving force behind the significant expansion of Taxand, founded in
2005 as the first global network of independent tax advisors to
provide a true alternative to the existing global players", according
to Taxand chairman Frederic Donnedieu de Vabres, founder of French tax
advisory firm, Arsene Taxand.

Founded initially with nine member firms, Taxand more than doubled
in size in less than a year. Now celebrating its second anniversary,
the global network now includes more than 1,500 tax professionals,
including 300 international partners, with firms in 38 countries.

"Demand for experienced, independent tax professionals who are
free from conflicts has continued to grow on a global scale," said Mr.
Frederic Donnedieu de Vabres. "Before Taxand was established in 2005,
companies faced a limited set of options - choosing a conventional
route that presented increasingly serious challenges or employing a
patchwork of individual firms around the world. Now companies are able
to access a seamless worldwide network of premier tax firms whose
experienced professionals share a common goal of delivering objective
advice and outstanding service to local and international clients."

"The growth of Taxand in just two short years is a clear
indication of how seriously companies view the need for independent
tax advisors who are not subject to time consuming audit conflicts and
constraints," said Robert N. Lowe, Jr., CEO of Alvarez & Marsal
Taxand, LLC, a founding member of the network. According to Mr. Lowe,
his US-based tax organization which is also part of Alvarez & Marsal's
global professional services platform, officially changed its name to
Alvarez & Marsal Taxand, LLC to signal the growing importance that
Global 1000 companies place on the need for top tier tax expertise
delivered locally and globally. Said Mr. Lowe, "Globalization and
complexity demand sophisticated and customized tax advice delivered by
experienced professionals who meet the highest standards and put the
interests of clients first. Formed by highly respected tax firms in
their own countries, Taxand was the first global network founded two
years ago on that premise. Others may follow, but Taxand will always
be the first premier global network of independent tax advisors - and
the first genuine alternative to Big Four accounting firms around the
world."

Taxand has since grown to include:

Bruchou, Fernandez Madero, Lombardi & Mitrani, Argentina; Shaddick
& Spence, Australia; AB Taxand Bvda, Belgium; Barbosa, Mussnich &
Aragao, Advogados, Brazil; Gowlings, Canada; Barros & Errazuriz
Abogados, Chile; Hendersen, China; Gomez Pinson Abogados, Colombia;
Eurofast Services, Cyprus; Bech-Brunn Lawfirm, Denmark; Borenius &
Kemppinen, Finland; Arsene Taxand, France; BMR & Associates, India; PB
& Co, Indonesia; Fantozzi & Associati, Italy; Sojong Partners, Korea;
Atoz, Luxembourg; Taxand Malaysia Sdn Bhd, Malaysia; Avanzia Tax
Advisors, Malta; Multiconsult Limited, Mauritius; Mijares, Angoitia,
Cortes y Fuentes, S.C. (MACF), Mexico; Van Mens & Wisselink, The
Netherlands; Simon Rutherford Limited, New Zealand; Advokatfirmaet
Selmer, Norway; Miranda & Amado Abogados, Peru; Salvador Guevara &
Associates, Philippines; Accreo, Poland; Garrigues, Portugal; Zaragoza
& Alvarado LLP, Puerto Rico; Taxhouse, Romania; Pepeliaev Goltsblat &
Partners, Russia; Garrigues, Spain; SkeppsbronSkatt AB, Sweden; Tax
Partner AG, Switzerland; Erdikler, Turkey; Chiltern PLC, United
Kingdom; Alvarez & Marsal Taxand, USA; Candal Consultores Tributarios
& Corporativos, Venezuela.