Alvarez & Marsal Expands in Southeast U.S. Region with New Atlanta Office.

Business Editors

Debtor Advisory and Restructuring Experts

William H. Runge III and Lawrence R. Hirsh to Lead New Team

Alvarez & Marsal, a premier worldwide corporate restructuring, interim and crisis management and creditor advisory firm, announced today its expansion into the Southeast region of the United States with the opening of a new Atlanta office led by corporate restructuring specialists, William H. Runge and Lawrence R. Hirsh.

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

As Managing Directors for the U.S. Southeast region, Messrs. Runge and Hirsh will be spearheading Alvarez & Marsal's efforts to serve under performing or distressed companies throughout the Southeast region, spanning a wide industry spectrum. Bill and Lawrence expect to reinforce the Alvarez & Marsal network in the United States as well as in Europe and Asia.

"This expansion of Alvarez & Marsal in the Atlanta area is a result of our tremendous growth and commitment to serve the industrial, commercial, and consumer driven markets," commented Bill Runge. "Alvarez & Marsal is uniquely qualified to address the needs of the region, and members of our team have been in the area for over 20 years."

Runge has over 27 years of combined experience working in operations, financial and administrative management and turnaround consulting. Additionally, he has held various posts as controller, CFO and COO in the manufacturing, distribution and service industries. Runge currently serves as President of the Turnaround Management Association, Atlanta Chapter, and on the Turnaround Management Association National Board of Directors.

Prior to Alvarez & Marsal, Runge served as partner-in-charge of Arthur Andersen's Corporate Restructuring practice based in Atlanta. Throughout his career, Runge has acted as operational and financial advisor for underperforming companies and leading financial institutions with troubled companies in their loan portfolios.

"Our seasoned team of professionals has 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," added Lawrence Hirsh. "The size and experience of our office, coupled with the breadth of services, enables us to provide an unmatched level of service and expertise."

Hirsh has over 17 years of experience providing financial advisory, corporate restructuring, valuation consulting and transaction advisory services. He brings hands-on and practical experience across industry sectors including manufacturing, distribution, services, healthcare, steel, technology, telecommunications, and financial services.

Formerly, Hirsh was a partner in Arthur Andersen's Atlanta Corporate Restructuring practice, and provided financial advisory work for many corporations and financial institutions with loans to troubled companies.

Alvarez & Marsal's Atlanta team includes Senior Directors Sajan P. George and Ira J. Genser. George has 10 years of international turnaround and restructuring experience in the technology, telecommunications, transportation and consumer products industries. Genser has 11 years of experience specializing in turnaround consulting on behalf of distressed companies and secured stakeholders. His industry experience includes transportation, financial services, manufacturing, distribution, private label and branded consumer goods industries.

"We are pleased to have both Bill and Lawrence and their team join Alvarez & Marsal," said Bryan Marsal, founding partner of Alvarez & Marsal. "Their impressive credentials and highly successful track record are widely respected within the corporate community and they will certainly be an incredibly valued resource that our clients can draw upon."

Alvarez & Marsal's Atlanta office can be reached at 404-223-7369.

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]