Boston, MA -- (ReleaseWire) -- 06/14/2006 --Downer & Company, LLC, an international investment banking firm specializing in middle-market cross-border divestitures and acquisitions, today announced several key leadership changes.

Effective June 1, 2006, an executive committee consisting of four Downer & Company partners, R. Wade Aust, Joseph Downing, Arthur Gottlieb, and Ashley Rountree, have assumed primary responsibility for managing the firm. This change is the next step in a process that was set in motion more than five years ago.

“The past two years have been our best ever in terms of both transaction volume and revenues,” said Ashley Rountree, Managing Director, Downer & Company, Europe. “The strategy originally pioneered by our founders—cross-border M&A services for the middle market—is more relevant today than ever before.”

Also effective June 1, 2006, Charles Downer has retired as Chief Executive and has become the Chairman of Downer & Company. In this new capacity, Mr. Downer will advise the firm’s partners on a variety of strategic and business development issues. “We are delighted that Charlie will continue to play a role in the ongoing success of Downer & Company,” said Joseph Downing, Managing Director.

In the year 2000, Charles Downer, Thomas Munnell and Robert Reilly, the founding partners of Downer & Company, made a deliberate decision to recruit and promote the talent needed to lead the firm in the 21st century. Since that time, responsibility for running Downer & Company has been transitioned to the next generation of partners. “I am deeply grateful that our founders had the foresight to take all of the steps necessary to ensure a successful management transition between generations,” said Wade Aust, Managing Director.

Mr. Downer founded Downer & Company in 1975. “It is with great satisfaction and pride that I hand the reigns of Downer & Company to new leadership,” said Mr. Downer. “When we began to implement our transition plans in 2000, I had great expectations of this next generation of partners, all of which have been exceeded. I have enjoyed a wonderful career at the firm, and am convinced that Downer & Company is poised for even greater accomplishments in the years ahead.”

“Charlie’s commitment and hard work have laid the foundation for our continued success,” said Arthur Gottlieb, Managing Director and Chief Operating Officer. “All of us will value his friendship and counsel for many years to come.”

About Downer & Company
Since its inception in 1975, Downer & Company, LLC, has earned distinction as a leading middle-market M&A firm focused on the execution of acquisition and divestiture mandates for international and domestic corporations and private equity firms. Downer & Company is headquartered in Boston, Massachusetts, and has offices in Paris, Dublin, Frankfurt and Sydney. Downer & Company received an award for transacting the “International/Cross-Border Deal of 2004” and was recognized as the top middle-market “Investment Banking Firm of 2003” by The Mergers & Acquisitions Advisor. Downer & Company's corporate headquarters are located at 60 State Street, Boston, MA 02109. For further information, visit www.downer.com.

Contact:
Ashley Rountree, Managing Director
Downer & Company, Europe
(33 1) 48 00 27 00
arountree@downer.com

Arthur Gottlieb, Managing Director
Downer & Company, LLC
617.482.6200
agottlieb@downer.com

Patti Allan, Marketing Director
Downer & Company, LLC
617.482.6200
pallan@downer.com