King & Spalding Adds to Its Bankruptcy Practice in New York

NEW YORK, NY--(Marketwire - October 22, 2008) - King & Spalding, a leading international law firm, announced today that Arthur Steinberg, a high-profile financial restructuring lawyer with 29 years' experience, has joined the firm's New York office. Steinberg is the seventh bankruptcy lawyer the firm has hired in the past 16 months and continues the firm's expansion of its restructuring practice, including the addition of a bankruptcy practice in Houston.

"Arthur augments King & Spalding's already comprehensive financial restructuring and bankruptcy practice by broadening our national capability in New York -- one of the most active bankruptcy courts in the United States," said Paul K. Ferdinands, head of the King & Spalding's financial restructuring practice group.

Steinberg joins King & Spalding from Kaye Scholer LLP, where he was a partner and co-head of the business reorganization and creditors' rights department. Steinberg has represented a broad range of clients, including debtors, creditors' committees, secured and unsecured creditors groups/individuals, distressed investors and asset buyers, and parties to bankruptcy related litigation. He also has acted as a receiver and Investment Company Act trustee for failed hedge funds and investment advisors.

Steinberg earned a B.A., cum laude, from Columbia University and a J.D. from New York University School of Law, order of the coif.

"Arthur has a high profile within the restructuring community in New York. He has worked on a number of major restructurings and his experience will add significantly to the firm's restructuring practice in New York City," said Robert F. Perry, managing partner of King & Spalding's New York office.

King & Spalding's 26-lawyer financial restructuring group is one of the nation's preeminent financial restructuring practices and is frequently ranked among the most active in the nation by industry publications. The firm's lawyers are regularly retained in large bankruptcy matters and workouts to represent debtors, trustees, creditors' committees, institutional lenders, other critical creditors and parties-in-interest, and potential acquirers of businesses and large assets. King & Spalding was named as one of the top 15 bankruptcy law firms in the nation in September 2008 based on the number of active cases, according to the weekly financial publication The Deal.

King & Spalding's New York office employs 100 attorneys practicing in a variety of areas including banking, business litigation, corporate finance, energy, financial restructuring, intellectual property, Islamic finance, mergers and acquisitions, private equity, tax and real estate, among others.

About King & Spalding

King & Spalding is an international law firm with more than 880 lawyers in Abu Dhabi, Atlanta, Austin, Charlotte, Dubai, Frankfurt, Houston, London, New York, Riyadh (affiliated office), San Francisco, Silicon Valley and Washington, D.C. The firm represents half of the Fortune 100 and in Corporate Counsel surveys consistently has been among the top firms representing Fortune 250 companies. For additional information, visit www.kslaw.com.

Contact Information: Contact: Kimberly Brooks 212-827-4378