Ernst & Young Announces Appointment of Frank Mahoney as Boston Office Managing Partner.

BOSTON -- Ernst & Young has announced the appointment of Frank Mahoney as the Boston Office Managing Partner effective July 1, 2006. Frank succeeds Daniel Kaye, who will take on the role of AABS Managing Partner of the Midwest Area.

"I could not think of a better leader than Frank, who has been an outstanding Partner with Ernst & Young for eight years," said Ernst & Young CEO and Chairman, Jim Turley. "Our Boston office will benefit from his local perspective and experience."

Frank has served as Coordinating Partner for some of the Boston area's largest companies. For the past five years, he has served as the New England Area Industry Leader for the firm's Retail, Consumer Products and Industrial Products practices. While Frank has focused almost exclusively on the retail, manufacturing, and consumer products industries, he has held various other roles during his 21 years with Ernst & Young. Most notably, Frank served as one of the firm's senior resources on the accounting and reporting issues related to business combinations, consolidations, and accounting for income taxes.

A native Bostonian, Frank is very active in the Boston business community. "It is with great enthusiasm that I take on this position" said Frank. "Boston has a robust marketplace, and I am excited for the opportunity to continue Ernst & Young's proud tradition of having a strong commitment to this community and to drive further success and growth in the Boston office. I will continue to be committed to our people and the quality of our service."

Frank joined Ernst & Young in 1985 with a B.S.B.A. from Boston College. A member of the Massachusetts Society of CPAs and the AICPA, he is a frequent writer and speaker on a variety of accounting topics.

Born and raised in Needham, Massachusetts, Frank is a 1981 graduate of Xaverian Brothers High School. He now lives in Medfield, Massachusetts with his wife, Mary, and their four children.

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