Ambassador Luis Lauredo Named Executive Director of FTAA Trade Ministerial and VIII American Business Forum.

Business Editors

MIAMI--(BUSINESS WIRE)--Feb. 12, 2003

Key Leader in Hunton & Williams' Latin America Practice Group

to Play Strategic Role in Critical November Trade Meetings

Ambassador Luis Lauredo, President of Hunton & Williams Latin American Services, LLC, a wholly-owned subsidiary of the international law firm of Hunton & Williams, was recently appointed to serve as the Executive Director of the Free Trade Area of the Americas (FTAA) Trade Ministerial and the Americas Business Forum to be held in Miami on Nov. 18-21, 2003.

This eighth round of FTAA trade negotiations will bring together ministers from 34 nations in the Western Hemisphere to discuss economic and political integration. This event will immediately follow the eighth Americas Business Forum, a policy meeting where business leaders from throughout the Americas put forth recommendations to trade ministers.

Ambassador Lauredo, former U.S. Ambassador to the Organization of American States, previously served as U.S. Coordinator for the Presidential Summit of the Americas in Quebec City in April 2001 and as Executive Director of the first Summit of the Americas, held in Miami in December 1994.

The FTAA process will culminate in January 2005 with the completion of an FTAA Treaty, which will create the largest free trade area in the world, stretching from Tierra del Fuego to Alaska, with a total GDP of more than $14 trillion and 800 million consumers. In comparison, the European Union has only 376 million people and a GDP of $8.5 billion. The FTAA Treaty will increase the political, economic and cultural connections between Florida, the U.S. and the entire region.

"We are thrilled that the Ambassador has been chosen to take charge of this landmark event," noted Thurston Moore, Managing Partner of Hunton & Williams. "The success of the ministerial and business forum is critical to Inter-American trade relations. We know that Luis has the diplomatic and management skills necessary to ensure that the meetings are cooperative and productive for all concerned."

"Luis is a leader in both the private and public sectors and will bring to the position an unparalleled understanding of the complexity, intricacy and gravity of these trade discussions," noted Gordon Rainey, Chairman of the firm's Executive Committee. "In addition, his vast experience in the Miami business community makes him an excellent representative for the city and region."

Ambassador Lauredo will work in concert with FTAA, Inc., a public/private partnership devoted to securing Miami as the permanent seat of the Secretariat of the FTAA beginning in 2005.

Hunton & Williams has one of the largest and most experienced Latin American practices among any law firm in the world. Its team of Latin America specialists exceeds 45 attorneys and consultants who have a long history in the region representing numerous types of clients, ranging from some of the world's largest financial institutions and multinational corporations, to local governments and agencies, and prominent Latin American families. The Latin America Practice Group has handled matters in every Latin American and major Caribbean country.

Hunton & Williams provides legal services to corporations, financial institutions, governments and individuals as well as a broad array of other entities. Since its establishment in 1901, Hunton & Williams has grown to almost 900 attorneys serving clients in 80 countries from 16 offices around the world. While Hunton & Williams' practice has a particular emphasis on corporate transactions, corporate and structured finance, energy and environmental law, governmental relations and commercial litigation, the firm's depth and breadth of experience extends to more than 50 separate practice areas.