Bracewell & Patterson Forms New Practice Group to Address Needs of Internet-Based Businesses.

HOUSTON--(BUSINESS WIRE)--July 20, 1999--

Bracewell & Patterson, L.L.P. today announced the formation of a new multidisciplinary practice group to provide comprehensive counsel to clients whose businesses are based on or conducted on the Internet. Referred to as the ITEC Group (for Internet, Telecom and E-Commerce), the group includes attorneys from all the firm's diverse practice areas and each of its domestic offices. Full information is available on the group's web site at http://www.itec-law.com.

According to William D. Gutermuth, the Bracewell & Patterson partner heading the ITEC Group, "This is our firm's response to our clients' desire for `one-stop shopping' for their legal needs relating to the Internet. Internet law is developing rapidly and presents many legal issues that have not arisen before. We believe we are one of the first major law firms in the country to recognize and respond in a comprehensive way to the growing demand for legal services related directly to business on the Internet."

The growth of the Internet and related technologies affects almost all of our clients in one or more ways, explains Gutermuth. "Early stage and startup companies need assistance in developing and implementing financing and operational strategies, while other clients need advice on intellectual property matters, taxation of Internet transactions, validity and enforceability of contracts made over the Internet and defamation and employee privacy issues," he said.

Attorneys in Bracewell & Patterson's ITEC Group represented the investor group in the charter of the first virtual national bank. The group also represents venture capitalists seeking technology investment opportunities and companies seeking access to public equity markets. A rapidly growing area centers around the relationship between information appearing on the web site of a public company and disclosure requirements under federal and state securities laws, as well as the sale of securities over the Internet. The firm also represents school districts and other public entities on Internet and e-mail liability issues, and specializes in such areas as Y2K compliance and telecommunications regulations.

Bracewell & Patterson, L.L.P., founded in Houston in 1945, has more than 250 attorneys in seven cities worldwide. In addition to Houston, the firm has offices in Austin, Dallas, Fort Worth, Washington, D.C., London and Almaty, Kazakhstan.