Alvarez & Marsal Expands in Midwest Region with New Chicago Office; Industry Veteran and Restructuring Specialist Thomas Hill to Lead New A&M Office.

Business Editors

Alvarez & Marsal, a premier worldwide corporate restructuring, crisis management and creditor advisory firm, announced today its expansion into the Midwest region of the United States with the opening of a new Chicago office to be led by corporate restructuring specialist, Thomas Hill.

The move comes in response to an increased focus on restructuring and interim and crisis management services within the region. Alvarez & Marsal provides financial and operational services to troubled companies and those entities in need of performance improvement.

As Managing Director for the U.S. Central region, Hill will be spearheading Alvarez & Marsal's efforts to serve underperforming or distressed companies throughout the Midwest region, spanning a wide industry spectrum. Hill expects to reinforce the Alvarez & Marsal network in the United States as well as in Europe and Asia.

"This expansion of Alvarez & Marsal in the Chicago area is a result of our tremendous growth and commitment to serve the Greater Chicagoland industrial, commercial, and consumer driven markets," commented Thomas Hill. "We are bringing together a seasoned team of professionals with the ability to not only diagnose problems and identify solutions within companies, but also act as interim and crisis management officers, should the need arise."

Hill has spent the last 15 years specializing in corporate turnaround, loan workout and bankruptcy situations for the manufacturing, transportation, agriculture, retail and distribution industries.

Prior to Alvarez & Marsal, Hill spent 19 years with Big Five public accounting firms in numerous capacities, the last four years serving as partner in Arthur Andersen's Corporate Restructuring practice based in Chicago. Throughout his career, Hill has advised corporations including Allied Products, Inc., Cincinnati Cordage & Paper Company, Dow Corning Corporation, Lason, Inc., Montgomery Ward, Peter J. Schmidt Co., United Press International, and AEI Resources, Inc.

"We are pleased to have Thomas Hill join the Alvarez & Marsal team," said Tony Alvarez II, founding partner of Alvarez & Marsal. "His impressive credentials and highly successful track record are widely respected within the corporate community and he will certainly be an incredibly valued resource that our clients can draw upon."

Hill's Chicago team includes Directors Brian Whittman and James Grady. Whittman has 8 years of experience advising distressed companies, secured lenders and creditors both in and out of court concerning bankcruptcies and restructurings. He has worked with both public and private companies in various industries. Grady has 8 years of experience in developing and implementing financial restructuring strategies, including reorganizations, bankcruptcy and disposition on behalf of underperforming companies, lenders and other stakeholders in a cross-section of industry sectors.

Alvarez & Marsal's Chicago office can be reached at 312-925-5611.

About Alvarez & Marsal

Founded in 1983, Alvarez & Marsal (A&M) is one of the world's premier corporate restructuring, crisis management and creditor advisory firms. A&M's senior consultants are dedicated to solving complex business, financial and operational problems in order to unlock and realize maximum value for stakeholders and shareholders alike. Through 12 offices and 140 employees worldwide, A&M provides unparalleled financial and operational services to troubled and under performing companies through its core services which include, Turnaround Consulting: Crisis and Interim Management: Creditor and Financial Advisory Services: Performance Improvement and Renewal: Business Plan Assessments, and Trustee and Examiner Services. For more information please contact Rebecca Baker, Director of Marketing and Communications at [e-mail]