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Leading Corporate Finance & High-Yield Debt Attorney Ian B. Blumenstein Joins Proskauer
Addition Continues Rapid Growth of Firm's International Finance Practice

March 6, 2006 - (New York, NY) - Proskauer Rose LLP, an international law firm with more than 700 lawyers in the United States and Europe, announced that Ian B. Blumenstein, a leading corporate finance and high-yield debt lawyer, has joined the firm as a partner. He will be resident in Proskauer's New York and Boston offices.

Mr. Blumenstein specializes in high-yield debt financings and is widely considered one of the leading advisors to both issuers and underwriters in the market. He also has extensively handled other corporate and corporate finance transactions for a large array of corporate and investment banking clients. Over the course of his career, Mr. Blumenstein has represented many of the world's top investment banks including Bear, Stearns & Co., Jefferies, Credit Suisse First Boston, UBS, Bank of America, Morgan Stanley, and Merrill Lynch.

""Ian's finance, transactional and general corporate experience is well-known in the market and will bring a dynamic dimension to our corporate finance capabilities and our international platform,"" said Steven M. Ellis, co-chair of the firm's Finance Group.

""Ian's practical experience in the market and his legal expertise are invaluable additions to our robust corporate group and high yield debt practice,"" said Bruce Lieb, co-chair of Proskauer's Corporate Department. ""His extensive background working with issuers and underwriters as well as his overall corporate transactional experience will enhance the already significant breadth of our international practice.""

Mr. Blumenstein previously was a partner at Latham & Watkins LLP, which he joined as an associate in 1989. Mr. Blumenstein also was a Managing Director of BancBoston Robertson Stephens from 1998 to 1999. He is a graduate of Harvard Law School and the University of Michigan.

Proskauer's Corporate Finance Group works with domestic and international businesses and institutions on a range of matters including initial public offerings, follow-on offerings, investment-grade, convertible and high-yield debt offerings, real estate securities transactions, and regulatory issues. The firm represents domestic and foreign private issuers and underwriters in registered transactions and exempt Rule 144A, Regulation S and Regulation D transactions and serves as general or special counsel to a broad spectrum of domestic and foreign banking institutions including bank holding companies, United States branches and agencies of foreign banks, commercial and savings banks, and insurance companies.

03-06-2006

James Stengel Appointed Managing Director of Orrick’s Firm-wide Litigation Division
NEW YORK--Orrick, Herrington & Sutcliffe LLP announced today that James L. Stengel has been named Managing Director of the firm’s Litigation Division. Stengel succeeds Michael Delikat, who led the 270-lawyer division in 2005.

“Orrick has one of the leading litigation practices in the nation in terms of our size and collective experience as well as the results we obtain for our clients,” said Ralph Baxter, chairman and CEO of Orrick. “We are grateful for Mike’s commitment last year and look forward to our continued success under Jim’s stewardship.”

“This is an exciting time for Orrick’s litigation division,” said Stengel. “We are recognized leaders in all our primary litigation practice areas, including commercial litigation, intellectual property, employment law, and securities litigation, and we are building an elite international dispute resolution practice, as well. With client service our number one goal, we will continue to build on our litigation strengths, innovate in and outside the courtroom, and add value to every engagement. I couldn’t ask for a more talented enjoyable group of people with whom to do that.”

Stengel represents clients in large, complex, and multi-party class action litigation. He is the leader of the Orrick team serving as National Counsel for Union Carbide in asbestos litigation. Selected as a leading lawyer in the area of products liability litigation for the upcoming 2006 edition of Chambers USA: America’s Leading Lawyers for Business, Stengel has handled significant actions involving the chemical, tobacco, and medical device industries. He has written and lectured on complex litigation and mass tort subjects at a variety of law schools and seminars. Before joining Orrick in 1998, he was a partner at Donovan Leisure Newton & Irvine LLP.

03-06-2006

K. Hovnanian Enterprises Senior Notes Offering
Davis Polk & Wardwell advised Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc., Wachovia Capital Markets, LLC and UBS Securities LLC as joint book-running managers and representatives of the underwriters on an SEC-registered offering by K. Hovnanian Enterprises, Inc. of $300 million aggregate principal amount of its 7.50-percent senior notes due 2016.

K. Hovnanian Enterprises, Inc. is a subsidiary of Hovnanian Enterprises, Inc., which is headquartered in Red Bank, New Jersey, and is one of the nation's largest builders of residential homes.

The Davis Polk corporate team included partner Michael Kaplan and associates Jeff Ramsay and Andrew Ralston. Partner Gail A. Flesher provided environmental advice. Partner Michael Mollerus and associate Grace M. Lee provided tax advice. Noreen Faughnan was the legal assistant for the transaction. All members of the Davis Polk team work in the New York office.

03-06-2006

Baker Botts Expands Legal IP Team in New York
Fehlner, Hulseberg Add Life Science, Medical Device Experience to Nationally-Recognized Department


HOUSTON, March 6, 2006 -- Baker Botts strengthened its nationally-recognized Intellectual Property department with the addition of two partners with extensive experience in handling complex IP issues -- Paul F. Fehlner and Daniel J. Hulseberg -- in its New York office.

Fehlner and Hulseberg will join a team of more than 100 Baker Botts IP lawyers that has consistently been ranked in the Top 5 in the country by IP Law & Business and Chambers USA.

Fehlner, 42, joins Baker Botts from Darby & Darby, where he was a partner. He brings a substantial practice counseling both Fortune 500 and early stage biotechnology and pharmaceutical companies in their development of comprehensive IP strategies, including patent and other proprietary protections, enforcement and licensing. He also provides technical and strategic intellectual property advice to both investors and companies in business transactions, including private equity investments, public offerings, and royalty purchases.

Hulseberg, 43, maintains a comprehensive IP practice that includes client counseling, due diligence, business transactions, patent prosecution and litigation support, principally in the areas of medical device arts and mechanical science. A significant portion of his practice includes advising major pharmaceutical and medical device companies in their development of cardiovascular, orthopedic, spinal and interventional products. Hulseberg was previously a partner at Winston & Strawn.

""Paul and Dan will provide a depth of knowledge on biotechnology and medical-related issues that will enhance the service we provide our clients,"" said Walt Smith, Managing Partner of Baker Botts. ""For more than a decade we have been intent on building an IP practice team that is second-to-none. Paul and Dan joining our firm demonstrates our commitment to maintaining our leadership position in these dynamic practice areas.""

Most Baker Botts intellectual property lawyers hold at least one engineering or science degree and are members of the patent bar. The firm's intellectual property department is well-known for its particular expertise in complex, high-stakes patent, trade secret, trademark, and copyright litigation nationwide.

Fehlner received a B.S. degree in chemistry from Haverford College (with high honors), a Ph.D. in immunology and biochemistry from The Rockefeller University, and his law degree from Fordham University School of Law. He is a member of the New Jersey bar and New York bar and is registered before the U.S. Patent and Trademark Office.

Hulseberg received a B.S. in civil and environmental engineering with distinction from Clarkson University. He earned an M.S. in engineering management and Juris Doctorate from the Catholic University of America. He is a member of the bar of New York, Illinois and the District of Columbia, and is registered to practice before the U.S. Patent and Trademark Office.

03-06-2006

Industry Leaders To Discuss Ethics And Law At The 13th Annual Health Law And Policy Forum
Discussions Range from Influenza Pandemic to the Future of Medicaid to Managed Care Class Action Settlements

ATLANTA, March 6, 2006 – The 13th Annual King & Spalding Health Law and Policy Forum will take place on March 20, 2006, at the Four Seasons Hotel from 8 a.m. to 4:30 p.m. The forum will feature a roster of industry experts addressing a range of healthcare topics, including the enforcement climate in healthcare and managed care class action lawsuits, effective corporate compliance programs, healthcare antitrust and hospital acquisitions of physician practices.

Lawrence O. Gostin – one of the nation’s foremost experts on public health policy and Associate Dean for Research and Academic Programs at the Georgetown University Law Center – will deliver the keynote address, titled “Pandemic Influenza: Ethics, Law and the Public’s Health.”

In addition to Gostin, other forum guest speakers and their topics are:

Dr. Rhonda Medows, the Commissioner of the Georgia Department of Community Health, will discuss the future of Medicaid.
William Blumenthal, General Counsel to the Federal Trade Commission, will deliver a lecture about healthcare antitrust in 2006.
Lawrence Pixley, a founding partner of a leading healthcare consulting firm, Stroudwater Associates, will speak about hospital acquisitions of physician practices.
John E. Steiner, Jr., the Chief Compliance Officer and Privacy Official for The Cleveland Clinic Health System, will open the conference with a presentation about effective corporate compliance programs.
The King & Spalding partners participating in the forum include James W. Boswell III, a partner in the Litigation and Healthcare practices; Laura E. Loeb, a partner in the FDA/Healthcare practice; Glen A. Reed, the chair of the Healthcare practice; Richard L. Shackelford, a partner in the Litigation and Healthcare practices; Jeffrey S. Spigel, a partner in the Litigation and Antitrust practices; and Christopher A. Wray, the chair of the Special Matters and Government Investigations practice.

Journalists from The Wall Street Journal, The Atlanta Journal Constitution and Modern Healthcare will participate in a panel titled “Covering Healthcare – The Players, The Issues and The Future.”

The 13th Annual King & Spalding Health Law and Policy Forum is sponsored by the American College of Healthcare Executives (ACHE) and the American Association of Homes and Service for the Aging (AAHSA).

03-06-2006

Wilson Sonsini Goodrich & Rosati Adds Employment Law Expertise to East Coast Practice
PALO ALTO, CA (March 6, 2006) - Wilson Sonsini Goodrich & Rosati, the premier provider of legal services to technology, life sciences, and growth enterprises worldwide, today announced that partner Marina Tsatalis has relocated to its New York office. Tsatalis, formerly based in the firm's Palo Alto headquarters, adds her employment law expertise to the firm's growing East Coast practice. Tsatalis will continue to work closely with her existing client base across the country.

Tsatalis has significant experience litigating cases and counseling clients on a wide variety of employment law issues, including employment discrimination, retaliation, harassment, unfair competition, misappropriation of trade secrets, wrongful termination, contract disputes, and fraud. She has served as lead trial counsel in a number of cases, and has litigated a broad spectrum of cases in state and federal courts, as well before appellate courts and in nationwide arbitrations. In one of her recent high-profile and high-stakes cases, Tsatalis served as lead counsel in Reid v. Google, successfully defending client Google against allegations of age discrimination in Santa Clara County Superior Court.

""We are growing our practice aggressively on the East Coast and Marina's expertise will be invaluable as we continue to expand key practice areas to match client needs,"" says Chief Executive Officer John Roos.

Tsatalis, who was cited as a ""rising star"" in the 2005 edition of Chambers USA Clients' Guide, is a frequent writer and speaker on matters of employment law. She received her J.D., cum laude, from Harvard Law School in 1992. She graduated summa cum laude and Phi Beta Kappa from Villanova University in 1989 with a B.A. in English and history.

03-06-2006

\"Alive & Kicking\" - Ken Cutler Noted in MinnesotaBusiness Magazine
Dorsey Partner Ken Cutler commented recently on the the prospects of Minnesota's venture capital market. In a MinnesotaBusiness article, Cutler explained that attracting venture capital has become more difficult for Minnesota companies following the market crash of 2000. Investors have become more cautious, said Cutler, while the multiples of rates of return have also diminished since the tech boom of the late 1990s.

Cutler identified positive trends in medical device-investing, which result from Minnesota's national reputation as a leader in med-tech. Nonetheless, Cutler believes the state could still use more early-stage money for all industries, with the degree of difficulty in obtaining venture financing depending on ""the industry you're in and the stage you're at.""

Cutler concluded with the advice that entrepreneurs seeking capital should ""make sure your house is in order, and seek money before your back is against the wall. Make sure you have a really clear message why your company, product or technology is worth investing in.

03-06-2006

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