SOURCE: King & Spalding

February 19, 2007 12:53 ET

/ CORRECTION - King & Spalding

ATLANTA, GA -- (MARKET WIRE) -- February 19, 2007 --In the news release, "King & Spalding Worldwide Revenues Reach a Record $582 Million," issued Friday, February 16, 2007, by King & Spalding, we are advised by the company that the last sentence of the first paragraph should read "The firm also announced a 14.7 percent increase in revenue per lawyer in fiscal 2006, to $782,000" rather than "The firm also announced a 14.7 percent increase in revenue per partner in fiscal 2006, to $782,000" as originally issued. Complete corrected text follows.

King & Spalding Worldwide Revenues Reach A Record $582 Million

Profits per Partner up 25 Percent to a Record $1.3 Million

ATLANTA, GA -- February 16, 2007 -- King & Spalding, a leading international law firm, announced today record worldwide revenues of $582.448 million and record profits per partner of $ 1.312 million for the fiscal year ending December 31, 2006. These performances represented increases of 13.2 percent and 25.0 percent, respectively, over the prior year. The firm also announced a 14.7 percent increase in revenue per lawyer in fiscal 2006, to $782,000.

"Our continued growth in the past fiscal year is the result of the efforts of the 800 King & Spalding lawyers worldwide," said Robert D. Hays, Jr., chairman of the firm. "I believe we have been successful because we provide our clients with the best legal advice, superior service and a deep understanding of their industries. In addition, we have a firm culture that enables us to partner with our clients to address their sophisticated legal needs and business issues."

Among the factors contributing to King & Spalding's performance in the past year were continued success and expansion in the health care, pharmaceutical and energy practices as well as growing client demand in the areas of Islamic finance, energy, real estate, private equity and international arbitration in the Middle East, Asia and North Africa. In response to that demand, the firm recently opened an office in Dubai, United Arab Emirates. In addition, the firm is entering its third year of a process improvement program that has brought about greater efficiencies in many areas firm wide.

Hays said the firm was strong in virtually every practice area in 2006 and is well-positioned to serve companies with a high volume of work and ongoing need for legal services.

About King & Spalding

King & Spalding is an international law firm with more than 800 lawyers in Atlanta, Dubai, Houston, London, New York and Washington, D.C. The firm represents half of the Fortune 100, and in a Corporate Counsel survey in August 2006 was ranked one of the top ten firms representing Fortune 250 companies overall. For additional information, visit http://www.kslaw.com/.

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