Ernst & Young Launches Ernst & Young Corporate Finance LLC; Broker Dealer to offer a Broad Range of Corporate Finance Services

Business Wire, Sept 4, 2001

Business Editors

NEW YORK--(BUSINESS WIRE)--Sept. 4, 2001

In a strategic move, entering the world of corporate finance as a broker-dealer, Ernst & Young LLP today announced that it has launched Ernst & Young Corporate Finance LLC, which will provide a broad range of corporate finance services. Ernst & Young Corporate Finance LLC will be a wholly owned subsidiary of Ernst & Young LLP.

Ernst & Young Corporate Finance LLC will focus on mid-size transactions ($50 million to $1 billion). The firm will offer a broad range of services including all aspects of mergers and acquisitions; divestitures and corporate spin-offs; joint ventures and alliances; leveraged recapitalizations; debt and equity refinancing; management, employee and leveraged buyout strategies; fairness opinions; and restructuring advisory services.

"We recognized an opportunity to meet the corporate finance demands in the mid-size transaction arena in a manner that isn't being fully realized by the marketplace," said Peter Griffith, president and CEO, Ernst & Young Corporate Finance LLC. "Our service model focuses on building long-term relationships and working with clients from the early stages of planning all the way through implementation. We're able to do this, in part, because of our strong relationship with Ernst & Young, but also because of the highly experienced team we've assembled that has the breadth to serve our clients' complex needs. We will also provide clients with an objective and global perspective, since Ernst & Young Corporate Finance doesn't participate as market maker or in research activities."

The company will focus on six key industry areas including:

- Technology, Communication and Entertainment

- Automotive and Industrial Products

- Consumer Industries

- Health Sciences

- Financial Services

- Energy, Chemicals and Utilities

About Ernst & Young Corporate Finance LLC

Ernst & Young Corporate Finance LLC is well positioned to advise and assist key decision makers in developing and executing strategies designed to optimize their business objectives. More than 200 professionals, located in 14 strategically positioned offices throughout the United States, combine their extensive industry experience and management knowledge to provide clients with the creative and value-added advice and solutions demanded in today's challenging economic and capital markets environment. More information about Ernst & Young Corporate Finance LLC can be found at www.eycf.com. Ernst & Young Corporate Finance LLC is a wholly owned subsidiary of Ernst & Young LLP.

Information about our parent company is available at www.ey.com.