BDO Seidman LLP Announces Strong Revenue Growth; Growth of 21 Percent on Revenues of $440 Million

Business Wire, August 15, 2005

CHICAGO -- BDO Seidman, LLP today announced revenue for the fiscal year ended June 30, 2005, increased to $440 million, a 21 percent increase over last year's revenue of $365 million. The revenue jump was led by the firm's assurance business line which added more SEC audit clients than any other firm for the second consecutive year. The assurance practice now represents 62 percent of BDO Seidman's business. The firm's tax and specialized services business lines represent 26 percent and 12 percent of revenues respectively.

"In the past year, BDO Seidman has experienced unprecedented growth in the core assurance business line as our superior SEC practice has made BDO the chief beneficiary of companies leaving the Big Four," said BDO Seidman CEO Jack Weisbaum. "Due to resource constraints brought about by the new regulatory environment, Big Four firms have walked away from clients for economic reasons or had clients leave for service concerns. BDO's excellent technical skills and close partner attention, reflected in our lower partner to professional ratio, is a real service alternative that is a welcome change for these businesses."

About BDO Seidman, LLP

BDO Seidman, LLP is a national professional services firm providing assurance, tax, financial advisory and consulting services to a wide range of publicly traded and privately held companies. Guided by core values of integrity, trust, professionalism, independence and service for more than 90 years, we have provided quality service and leadership through the active involvement of our most experienced and committed professionals.

BDO Seidman serves clients through more than 30 offices and 250 independent alliance firm locations nationwide. As a Member Firm of BDO International, BDO Seidman, LLP serves multi-national clients by leveraging a global network of resources comprised of more than 600 member firm offices in 105 countries. BDO International is a worldwide network of public accounting firms, called BDO Member Firms, serving international clients. Each BDO Member Firm is an independent legal entity in its own country.