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DAVID H. SPENCER JOINS WEIL, GOTSHAL & MANGES AS PARTNER IN NEW YORK OFFICE

 NEW YORK, April 5 /PRNewswire/ -- Weil, Gotshal & Manges announced today that David H. Spencer will join the Firm to head its project finance practice in New York.
 Mr. Spencer has structured domestic and international joint ventures, investments and financings for sponsors and financial institutions. The projects have included environmental facilities, power plants, chemical facilities, mines, pipelines, railroads and steel mills. He was involved in the first project financings of cogeneration and geothermal facilities.
 Mr. Spencer also has extensive experience in leasing and equipment finance. He has pioneered new techniques for international leasing of long-range aircraft.
 For the past five years, Mr. Spencer has been a partner at Howard, Darby & Levin in New York, specializing in project finance, aircraft finance, workouts, venture capital and acquisitions. Before that he was a corporate attorney at Cravath, Swaine & Moore.
 He received his B.A. degree in mathematics cum laude from Harvard University and his J.D., magna cum laude, from Georgetown University Law Center where he was an Editor of the Georgetown Law Journal.
 Commenting on Mr. Spencer's arrival, Stephen J. Dannhauser, Executive Partner of the Firm, said: "David Spencer's arrival to head our project finance practice represents the Firm's ongoing commitment to provide clients the highest quality legal service in this strategic area. There will be considerable synergism with our corporate finance/structured finance areas where the Firm has been devoting considerable resources."
 Mr. Spencer said: "Weil, Gotshal & Manges has recognized expertise in financing, real estate, bankruptcy and asset-based finance. The Firm has a strong presence in Eastern Europe and Latin America. It is an ideal firm for a first-rate project finance practice, at a time that there is an enormous need for infrastructure and industrial investment in the United States and around the world."
 Weil, Gotshal & Manges, a firm of more than 600 lawyers, is headquartered in New York, with U.S. offices in Dallas, Houston, Miami, Silicon Valley and Washington, D.C. and international offices in Brussels, Budapest, London, Prague and Warsaw.
 -0- 4/5/93
 /CONTACT: David H. Spencer, 212-841-1076, or Stephen J. Dannhauser, 212-310-8326, both for Weil, Gotshal & Manges/


CO: Weil, Gotshal & Manges ST: New York IN: SU: PER

GK-TS -- NY015 -- 2984 04/05/93 11:15 EDT
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Date:Apr 5, 1993
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