Mayer Brown Opens Office in Brazil

Leading international law firm Mayer Brown(1) today announced it
is expanding its geographic presence in Latin America and is in the
process of establishing an office in Sao Paulo, Brazil. Stephen Hood,
a lawyer with extensive international experience, particularly in the
Brazilian legal community, will become a Partner of the firm and will
run the office.

"Our expansion into Latin America represents another significant
step forward in our global growth plans," said James D. Holzhauer,
chairman of Mayer Brown. "We have actively represented clients in
Brazil and throughout Latin America for more than 15 years but have
done it from afar."

Holzhauer noted that Brazil is one of the world's fastest-growing
financial markets and a country that continues to experience a surge
in IPOs, infrastructure financing and cross-border acquisitions.
Foreign investment in Brazilian businesses and real estate continues
to be brisk. He added, "Mr. Hood is a tremendously well-respected and
experienced lawyer with established legal and business relationships
in Brazil that will immediately benefit our clients."

As to office growth, Holzhauer said the firm expects to add
approximately a dozen lawyers in Sao Paulo over the next 18 months,
complementing the 40 Latin American practice group lawyers who will
continue to work from other Mayer Brown offices around the world. It
is expected that lawyers in the Sao Paulo office will focus on foreign
investment, debt and equity capital markets, structured finance,
corporate transactions, infrastructure, trade and project finance.
Lawyers will practice U.S. and English law only, and will continue
close working relationships already established with major Brazilian
law firms.

Commented Vice Chairman Paul Maher, "It is rewarding to be taking
another step toward achieving our goals and establish a long-term
presence in Sao Paulo. Latin America, in particular, is a market of
clear strategic importance to our clients' interests."

Mr. Hood joins Mayer Brown from Clifford Chance, where, since
1978, he was an equity partner. During that time, Mr. Hood served on
the management committee as well as serving as Managing Partner of the
Hong Kong office, the New York City office and, since 1999, the Sao
Paulo office. Additionally, he was head of Clifford Chance's
International Capital Markets group in London from 1986 to 1992.

"Mayer Brown is a dynamic firm that recognizes the benefits of
providing local knowledge and expertise to its clients, which operate
in complex legal and regulatory environments across the globe," said
Mr. Hood. "The scale of the firm's services in the North American
market, combined with its first class capability in London and other
European cities, will be very attractive to the increasing number of
Brazilian companies expanding abroad."

Mayer Brown is among the largest law firms in the world with more
than 1,500 lawyers in seven U.S. cities (Charlotte, Chicago, Houston,
Los Angeles, New York, Palo Alto and Washington), six European cities
(Berlin, Brussels, Cologne, Frankfurt, London and Paris), and Hong
Kong. When established, the Sao Paulo office will be Mayer Brown's
fifteenth office. For further information please visit
www.mayerbrown.com.

(1) Mayer Brown is a combination of two limited liability
partnerships: one named Mayer Brown LLP, established in Illinois, USA;
and one named Mayer Brown International LLP, incorporated in England