Press Release

Milbank Elects Eleven New Partners Throughout its Worldwide Offices

Appointments Reflect Surge in Firm’s Global Corporate, Securities, Private Equity and Outsourcing Practices

NEW YORK, NY, November 21, 2005 – The Partnership of the international law firm Milbank, Tweed, Hadley & McCloy LLP has announced the election of eleven new partners to the Firm’s New York, Washington, DC, Los Angeles, London, Munich, Hong Kong and Tokyo offices.

Commenting on the announcement, Milbank Chairman Mel Immergut stated, “We are delighted to welcome these outstanding lawyers to the partnership, all of whom have demonstrated superb technical capabilities and a deep commitment to clients and teamwork during their tenure at Milbank. The promotion of these attorneys is indicative of the depth of experience and strength of their practice areas and offices, further emphasizing the Firm’s commitment to expanding our global capabilities and maintaining our high standard of leadership in all practice areas.”

NEW YORK OFFICE:
WILLIAM B. BICE, formerly an associate, has been named partner in Milbank’s Global Project Finance Department. He has extensive experience representing developers and lenders in the development and financing of complex domestic and international energy and infrastructure projects. Mr. Bice has been the lead associate for a number of project financings, including the EcoEléctrica LNG and Power Project in Puerto Rico, the GasAndes Pipeline Project in Argentina and Chile, the AES Panama, S.A. generation facilities in the Republic of Panama, the Progress Genco Ventures generation portfolio in the Southeastern United States, the Centro Energia Teverola and Comunanza Projects in Italy, and the Ilijan Power Project and the EDSA MRT III Light Rail Project in the Philippines. 

Mr. Bice has also spent significant time working on transactions involving distressed energy assets including representing lenders in the ANP Funding I, MACH Gen, Lake Road and La Paloma transactions as well as potential purchasers of, and investors in, other power generation assets. Mr. Bice additionally provides group-wide support for commodity and fixed income derivatives transactions. 

Mr. Bice joined Milbank in 1995 and was resident in the firm’s Tokyo office from 1998 to 2000. He received his A.B. from Duke University and his J.D. from the University of Pennsylvania School of Law.

JOHN H. COBB, formerly an associate, has been named partner in Milbank’s Global Securities Department. Focusing on capital markets transactions, Mr. Cobb has extensive experience in representing investment banks, investors and issuers in connection with a broad range of securities transactions, including high yield debt offerings, investment grade debt offering, initial public offerings, secondary equity offerings, debt tender offers, consent solicitations, exchange offers, restructurings and reorganizations. Mr. Cobb also focuses on representing investment and commercial banks in connection with financing for leveraged buyouts, leveraged recapitalizations and other acquisition finance transactions. His practice also includes representation of both public and private companies in connection with general corporate and securities law matters. 

Mr. Cobb earned his B.S. from Providence College and his J.D., magna cum laude, from St. John’s University School of Law, where he was Articles Editor of The Law Review.

JOHN D. FRANCHINI, formerly an associate, has been named partner in Milbank’s Global Corporate Department. His practice concentrates on representing private equity sponsors, hedge funds and their portfolio companies in investment, acquisition, finance, restructuring, disposition and fund-of-fund transactions. He has advised private equity clients in numerous auction scenarios, both as sellers and bidders. Mr. Franchini also has extensive experience in representing public and private companies in connection with mergers, acquisitions, divestitures and other corporate transactions, including stock-for-stock mergers, tender offers, private stock and asset purchases, complex joint ventures and restructurings. 

Mr. Franchini has represented numerous private equity and hedge fund clients, including Apax Partners, Cerberus Capital Partners, JP Morgan Partners and One Equity Partners. He has worked on transactions in regulated industries including energy/public utilities, telecommunications, banking and airlines, and on deals throughout Asia, Latin America and the United States. 

Mr. Franchini joined Milbank in 1995 and was resident in the firm’s Tokyo office in 2001. He received his B.A., cum laude, from Lehigh University and his J.D. with honors from Fordham University School of Law, where he was an Associate Editor of the Fordham Law Review and a recipient of the MCI International Law Fellowship.

SEAN M. MURPHY, formerly of Counsel, has been named partner in Milbank’s Litigation Department. Mr. Murphy’s practice focuses on complex securities and antitrust matters. He has defended companies in class action and derivative litigation, often involving regulatory investigations by federal or state agencies.

In securities litigation, Mr. Murphy has defended dozens of companies and financial institutions in multi-jurisdictional class actions on a wide range of issues under the federal securities laws. He has extensive experience representing mutual fund advisors in class and derivative litigation filed under the Investment Company Act of 1940, including management fee, disclosure, fund distribution, and fiduciary duty litigation. He has represented some of the largest registered investment advisers in the country, such as Alliance Capital, American Century, Capital Research, Dreyfus, Fidelity, Merrill Lynch and Prudential.

Mr. Murphy’s antitrust practice includes defending litigation on complex issues involving conspiracy or monopolization allegations, exchanges of information, deal structuring, trade association membership, and vertical agreements and relationships. He has also worked extensively on antitrust investigations by the Federal Trade Commission and the Department of Justice, and has obtained regulatory clearance on numerous mergers and acquisitions involving assets of over $1 billion. His clients have included DuPont, Hearst Corporation, Nine West, Shell Oil and Tyco International. 

Sean Murphy received his B.A. with honors from St. Lawrence University and his J.D. with honors from Albany Law School, where he was an Associate Editor of the Albany Law Review.

STEPHEN D. NORDAHL, formerly an associate, has been named partner in Milbank’s Strategic Sourcing & Technology Group. His practice encompasses all areas of technology and sourcing law, with a particular emphasis on information technology and business process outsourcing transactions and private equity transactions involving technology or sourcing companies. 

Mr. Nordahl has represented clients in many of the largest information technology and business process outsourcing transactions, including AT&T, BellSouth, DuPont, JPMorgan Chase, Omnicom and Prudential. 

Mr. Nordahl has written articles and frequently lectures on technology and outsourcing. He received his B.S. cum laude from Lehigh University, a General Course Degree in Economics from the London School of Economics and a J.D. from Fordham University School of Law.

WASHINGTON, DC:
DEBRA ALLIGOOD WHITE, formerly an associate, has been named partner in Milbank’s Strategic Sourcing & Technology Group. Ms. White’s practice focuses on outsourcing transactions, particularly offshore technology and business process outsourcing. She has negotiated Applications Development and Management offshore outsourcing transactions for The Home Depot and PepsiCo, a project management co-sourcing transaction for Aetna Life Insurance Company, a full-scope Human Resources Outsourcing transaction for PepsiCo and several infrastructure and offshore ADM outsourcing transactions for Lehman Brothers. 

Debra Alligood White earned her A.B. from Harvard University and her J.D. from the University of California, Los Angeles School of Law, where she was Chief Comment Editor of Volume 40 of the UCLA Law Review and a recipient of an Association of Academic Women “Graduate Woman of the Year” award.

LOS ANGELES:
BRETT D. GOLDBLATT, formerly an associate, has been named partner in Milbank’s Global Corporate Department. Mr. Goldblatt represents investment funds, fund sponsors, companies and investment banks in a wide variety of business matters, including mergers and acquisitions, debt and equity offerings in the public and private markets, fund formations, joint ventures and general corporate and contractual matters. His practice also focuses on representing private equity funds and creditors’ committees in recapitalizations and restructurings both in and outside of bankruptcy. Mr. Goldblatt has represented numerous private equity fund clients, including TCW Asset Management Company, Cerberus Capital Partners and Oaktree Capital Management. Recently, he was involved in the Trump Casinos and WorldCom bankruptcy restructurings. 

Mr. Goldblatt has been teaching corporate transactions as an Adjunct Professor at UCLA Law School since 2002, and has authored numerous articles. He received his B.A., cum laude, from Rutgers University and his J.D. with honors from the University of Pennsylvania Law School.

LONDON:
JAMES WARBEY, formerly an associate, has been named partner in Milbank’s Global Finance Group. Mr. Warbey’s practice encompasses international capital markets, securitisations and structured finance transactions with a particular focus on CDOs and derivatives. 

Mr. Warbey has extensive experience in relation to asset securitisation with a wide range of asset classes, including residential mortgages, commercial property, auto loans, leases, consumer loans and swap receivables originated across Europe. He has acted on behalf of issuers, arrangers and investors on listed and unlisted CDO transactions across the full product spectrum, including synthetic transactions.

In addition, Mr. Warbey has considerable familiarity with a full range of derivative documentation and practice, the development of new products and the use of collateral techniques to manage risk in derivative transactions. He has advised a number of leading financial institutions and end-users in relation to the development of equity and credit derivative products as well as insurance-related derivatives. His practice also includes advising in relation to stock lending and repos, both in the domestic UK market and in international transactions. 

James Warbey received an L.L.B. from Exeter University and attended the Guildford College of Law.

MUNICH:
ULRIKE DORMANN, formerly an associate, has been named partner in Milbank’s Global Corporate Department. Ms. Dormann has broad experience in “Public M&A” transactions and corporate advisory work (“Aktien- und Konzernrecht, Umwandlungsrecht, Übernahmerecht”) which include corporate reorganizations, public takeovers and take privates. She has advised numerous listed companies and financial sponsors on all aspects of corporate law and takeover law. She has also worked for clients in the context of actions of minority shareholders and appraisal proceedings following corporate reorganizations. 

Ms. Dormann is widely recognized for public takeovers and corporate advisory work in the market and has been named an “upcoming star” by the German JUVE magazine for the second year in a row. She has also been elected to the “Legal Hot 100” by The Lawyer in 2005. 

Ulrike Dormann studied at the universities of Mainz and Dijon/France and earned her doctorate degree (Dr. jur.) from Mainz. She speaks German, English and French.

HONG KONG:
EDWARD T. SUN, formerly Of Counsel, has been named partner in Milbank’s Global Securities and China Practice Groups. Mr. Sun is a New York trained attorney with broad experience in the Greater China and Asian markets generally. His practice focuses on M&A/private equity, capital markets and distressed transactions. Mr. Sun is expected to relocate to Beijing when the Firm opens an office there in 2006. 

Mr. Sun’s capital markets work encompasses U.S. SEC registered and Rule 144A/Regulation S offerings for both underwriters and Asian issuers. His recent capital markets transactions include high-yield debt offerings from Chinese, Indonesian and Philippines issuers, the first Nasdaq and GEM (Hong Kong) dual listing IPO (of a Chinese internet company) and a rights offering by a major listed Indonesian company. His recent M&A transactions include private equity investments for Citigroup, Goldman Sachs and Farallon Capital. Most recently Ed Sun, along with Anthony Root, were the lead Milbank attorneys representing China Construction Bank (“CCB”) in negotiating and closing a series of strategic investments made in CCB by Bank of America and Temasek’s subsidiary Asian Financial Holdings, as well as advising CCB in its recently completed US$8 billion IPO on matters relating to the strategic investments. 

Mr. Sun earned his B.A., Phi Beta Kappa, from Stanford University and his J.D., cum laude, from Harvard Law School. In addition to his native language English, he is fluent in Mandarin and Taiwanese.

TOKYO:
DARREL J. HOLSTEIN, formerly of Counsel, has been named partner in Milbank’s Global Corporate Department. His practice concentrates on cross-border mergers and acquisitions and corporate transactions, with a particular focus on Japan. Mr. Holstein represents foreign corporations, private equity firms and financial institutions in connection with public and private acquisitions, joint ventures and restructurings in Japan, and Japanese corporations and financial institutions in connection with cross-border projects in Japan and acquisitions, joint ventures and other corporate transactions in the United States and other jurisdictions. 

Mr. Holstein’s projects in Japan include establishing the first wave of satellite television broadcasting platform companies and cable television MSOs, and the development of the Universal Studios Osaka theme park. He advises Japanese issuers in connection with international securities offerings and compliance with U.S. securities laws. Mr. Holstein also assists foreign corporations with licensing and distribution arrangements, employment matters, financings and other commercial aspects of their business activities in Japan. 

Darrel Holstein received an LL.B. from Tohoku University in 1986 and a J.D. from Harvard Law School in 1989. A resident of Japan for more than ten years, Mr. Holstein is fluent in Japanese and knowledgeable in all areas of Japanese commercial law and business practice.

MILBANK, TWEED, HADLEY & MCCLOY LLP is a premier global law firm headquartered in New York, with offices in Washington, D.C., Los Angeles, Palo Alto, London, Frankfurt, Munich, Tokyo, Hong Kong and Singapore. Named Legal Week’s “INTERNATIONAL FIRM OF THE YEAR” for 2004, Milbank is a recognized leader in capital markets, corporate finance, project finance, acquisition finance, and other major fields of legal practice. The Firm's practice includes cross-border mergers and acquisitions and global securities transactions as well as assisting multinational clients with their cross border investments. Milbank provides a full range of services to many of the world’s leading financial, industrial and commercial enterprises, as well as governments, institutions and individuals.