Prominent Litigators Launch Elite National Boutique

Shearman & Sterling and Baker Botts Litigation Partners Steven Molo and Jeffrey
Lamken Establish Firm with Offices in New York and Washington, D.C.
NEW YORK--(Business Wire)--
Nationally recognized litigators Steven F. Molo and Jeffrey A. Lamken today
announced the formation of MoloLamken LLP, a litigation boutique with a national
practice focused on complex, high-stakes civil litigation, white collar criminal
defense, U.S. Supreme Court and appellate cases, and regulatory matters before
administrative agencies.

Molo is leaving Shearman & Sterling in New York, where he was a partner in the
litigation group. He was previously a partner with Winston & Strawn in Chicago
for 18 years and served on that firm`s executive committee. Lamken was the head
of the Supreme Court and appellate practice for Baker Botts in Washington, D.C.
and previously served as an Assistant to the Solicitor General in the U.S.
Department of Justice. Lamken also clerked for the Honorable Sandra Day O`Connor
of the U.S. Supreme Court and the Honorable Alex Kozinski of the U.S. Court of
Appeals for the Ninth Circuit.

Molo and Lamken bring an established record of success in high-profile cases to
their new firm. Molo recently successfully defended former Reagan cabinet member
David Stockman, who had been charged with securities fraud in New York following
the bankruptcy of auto supplier Collins & Aikman; all charges were dismissed. He
has been involved in a number of notable matters arising from the current
financial crisis. Lamken represents parties in four matters pending before the
U.S. Supreme Court this Term; he has argued another 17 cases before the Supreme
Court.

Molo and Lamken also recently worked together to successfully reverse a $1.6
billion verdict against Morgan Stanley that a Florida jury had awarded to
Coleman (Parent) Holdings, a company controlled by financier Ron Perelman.

With initial offices in New York and Washington, D.C., MoloLamken will represent
both plaintiffs and defendants in trials, appeals, grand jury and regulatory
defense, and internal investigations. With a focus on quality and experience,
and an intention to remain small in size by today`s law firm standards, the
firm`s strategic plan calls for measured growth over the next three to five
years with the objective to build a team of 40 to 50 attorneys.

Market Conditions Ripe for National Litigation Boutique

Molo noted that despite the broader economic and legal industry downturn, market
conditions are heightening the demand for agile and experienced litigation
counsel. He believes the success of his and Lamken`s new venture will be
enhanced by a growth in complex litigation due to the recession and the
re-organization of the financial services industry, as well as continued growth
in intellectual property and product liability litigation.

"Clients have validated the opportunities we see in the marketplace. They
understand the logic of our philosophy of providing alternative fee arrangements
that align our interests with their own and reward success," explained Steven
Molo. "We`re excited about the response our new platform is generating already."

"We are committed to be among the handful of exclusive `go-to` boutique
litigation firms in the country," added Jeffrey Lamken. "Our mission is to
provide clients with the highest quality representation. We are pleased to begin
working with a group we have known for some time - team-oriented individuals
who, like us, are dedicated to excellence in advocacy."

Firm Aligns Delivery Model to Reward Value

Consistent with MoloLamken`s strategy, the Wall Street Journal`s recent
front-page story highlighting a growing mandate for flat-fee billing
arrangements among the largest corporate purchasers of legal services reinforces
the dynamics behind the firm`s creative fee arrangements that lower costs and
provide predictability for clients.

According to the Wall Street Journal report, money spent on alternative billing
arrangements has totaled $13.1 billion this year, versus $8.6 billion during the
same period in 2008, and corporate counsel say they plan to further increase
their use of alternative fee arrangements in the coming year.

"Today, more than ever, clients faced with complex disputes, appeals, and other
high-stakes litigation are looking for their law firms to enter alternative fee
arrangements and share in the economic risks inherent in these types of
matters," said Molo. "This risk-sharing plays to the strengths of our
firm-experienced, well-credentialed attorneys with a history of winning."

"We are proud to have come from Shearman & Sterling and Baker Botts, two
world-class law firms. We would be pleased to have the opportunity to
collaborate with them in future," explained Lamken.

Beyond using innovative fee arrangements that provide clients with
predictability and reward success, MoloLamken is looking to capitalize on a
number of other competitive advantages inherent to its method of delivering
litigation services, including:

* Technology - The firm`s size allows it to implement and upgrade leading
litigation and back-office technologies with less expense and less time.
* Multiple Office Platform - The firm has launched with a multi-office strategy
driven by business opportunity, a rarity among litigation boutiques. The firm`s
offices are located at 350 Park Avenue in New York and 600 New Hampshire Avenue
NW in Washington, D.C.
* Exceptional Talent - Focused on providing clients with experience, judgment,
and superior counsel at every level, the firm plans to only hire associates with
at least two years` of experience, preferably more, with an emphasis on those
who served as judicial clerks. In addition, the firm will do no law school
recruiting and have no summer associate program, thus allowing it to avoid
overhead that is non-essential to its model.

About the Attorneys

Steven F. Molo focuses his trial and appellate practice on representing
corporations, boards of directors, funds, special committees, and individuals in
complex business litigation, regulatory matters, and white collar criminal
matters throughout the United States and abroad. Among the notable matters he
has handled over the past five years at Shearman & Sterling are:

* The successful defense of the former CFO of Symbol Technologies charged with
22 counts of securities and mail fraud based on alleged accounting
irregularities. Five cooperating witnesses testified during a seven-week trial
which resulted in a hung jury and a resolution involving no jail time for the
client.
* The defense of BARBRI, the nation`s largest bar review provider, in antitrust
class actions in New York and Los Angeles which were settled.
* The successful defense of Aon in a jury trial involving allegations by the
former CEO of re-insurance broker Swett & Crawford, who claimed the company owed
him in excess of $15 million in bonuses at the time of his departure.
* The successful defense of Morgan Stanley and Van Kampen in obtaining the
dismissal of class action suits in Chicago and New York which challenged their
methods of operating their mutual funds.
* The successful defense of Hub International, obtaining dismissal of
consolidated civil antitrust class actions in New Jersey.
* Significant victories in the Illinois Supreme Court in separate cases for UBS
(striking as unconstitutional a portion of the Illinois Whistleblower Act in a
municipal bond "yield burning" case) and a group of prominent banks (striking as
unconstitutional certain limitations of the Illinois Interest Act).

While at Winston & Strawn, he represented a wide range of corporate clients,
executives, politicians, and entertainers in a variety of notable matters.

Jeffrey A. Lamken focuses his practice on high-profile appellate matters and has
argued 17 cases before the U.S. Supreme Court and briefed the Supreme Court on
numerous other cases. These cases have involved a wide variety of issues,
including administrative law, antitrust, bankruptcy, civil rights, criminal
procedure, free speech, intellectual property, search and seizure, statutory
construction, and telecommunications law. Among the notable appellate matters he
has recently handled are:

* Successfully obtained a decision of the U.S. Court of Appeals for the Second
Circuit overturning a district court decision that had enjoined the
implementation of a remote storage digital video recorder as a violation of the
Copyright Act. Successfully defeated a petition for a writ of certiorari in the
U.S. Supreme Court, notwithstanding seven amicus briefs in support of the
petition.
* Filed a successful petition for a writ of certiorari of behalf of an energy
company, obtaining U.S. Supreme Court review of a decision of the D.C. Circuit
regarding the circumstances in which Federal Energy Regulatory Commission can
overturn wholesale power rates agreed upon by contract. The case is now pending
before the Supreme Court.
* Filed a successful petition for a writ of certiorari on behalf of gasoline
refiners and distributors regarding the circumstances under which a service
station operator may bring suit against an oil refiner or distributor for
"constructive termination" under the Petroleum Marketing Practices Act. The case
is now pending before the Supreme Court.
* Successfully represented an energy company on appeal in the Fourth Circuit,
obtaining a decision holding that federal law preempted a Baltimore County
zoning ordinance regarding LNG terminals.

Also joining MoloLamken as partners are Michael G. Pattillo, Jr. and Robert Kry.

Before joining MoloLamken, Pattillo practiced with Baker Botts and Williams &
Connolly. He clerked for the Honorable Nathan L. Hecht of the Supreme Court of
Texas and the Honorable Stanley F. Birch Jr. of the U.S. Court of Appeals for
the Eleventh Circuit. He is a graduate of the University of Texas School of Law.

Before joining MoloLamken, Kry practiced with Baker Botts. He clerked for the
Honorable Antonin Scalia of the U.S. Supreme Court and the Honorable Alex
Kozinski of the U.S. Court of Appeals for the Ninth Circuit. He is a graduate of
Yale Law School.

About MoloLamken LLP

MoloLamken LLP is a litigation boutique with a national practice focused on
complex, high-stakes civil litigation, white collar criminal defense, U.S.
Supreme Court and appellate cases, and regulatory matters before administrative
agencies. For more information please visit www.mololamken.com.

MoloLamken, New York Office
Steven Molo, 212.607.8160
or
Greentarget
Brian Kiefer, 312.252.4113 (Media Relations)

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