Grant Thornton Enters the Charlotte Market With the Addition of the Partners and Staff of Gleiberman Spears Shepherd & Menaker.

Business Editors

CHICAGO--(BUSINESS WIRE)--Jan. 17, 2002

Location Presents Tremendous Middle-market Opportunities --

Grant Thornton to Pursue Additional Acquisitions in Southeast

Grant Thornton LLP, one of the Global Seven accounting firms and the leader in accounting, tax and management-consulting services to middle-market companies, today announced its expansion into Charlotte, North Carolina, through the addition of the partners and staff of Gleiberman Spears Shepherd & Menaker, P.A. (GSSM), an established accounting and consulting practice.

"These are outstanding professionals who will be joining Grant Thornton, and we warmly welcome them," said Grant Thornton CEO Ed Nusbaum. "The Charlotte area has a high concentration of middle-market, entrepreneurial organizations that will benefit from this merger and is also home to many technology-oriented companies, which is one of Grant Thornton's core practice areas." Nusbaum continued, "These companies will have access to the best of both worlds -- middle-market expertise that differentiates us from our Global Seven colleagues and international reach through more than 620 offices in 106 countries."

Tom Shepherd, Managing Partner of GSSM, enthused, "We are excited to join a Global Seven firm which focuses and specializes on middle-market, entrepreneurial organizations. This presents an exceptional opportunity to provide additional resources and value to our clients and our staff. Grant Thornton and GSSM share a similar culture and focus."

Gleiberman Spears Shepherd & Menaker is a former Laventhal & Horvath practice office. Approximately 47 professionals will be joining Grant Thornton, including three partners. Closing on the transaction occurred on January 16th, 2002.

Nusbaum also indicated, "Grant Thornton will continue to look for acquisitions in the Southeast region and in other U.S. markets that provide growth opportunities in servicing middle-market companies."

Grant Thornton is one of the Global Seven accounting firms and the leading accounting, tax and management-consulting firm dedicated to serving the needs of middle-market companies. Founded in 1924, Grant Thornton serves public and private middle-market clients through 48 offices in the United States and in more than 620 offices in 106 countries through Grant Thornton International. Grant Thornton's Web site address is www.GrantThornton.com.