Mark Wege, Edward Ripley Join King & Spalding's Insolvency Practice

HOUSTON, TX--(Marketwire - October 23, 2007) - King & Spalding, a leading international law firm, announced today that Mark W. Wege, a bankruptcy attorney with significant experience representing entities in bankruptcies and reorganizations across an array of industries, and Edward L. Ripley, a business bankruptcy specialist noted for his expertise in Chapter 11 reorganizations, have joined the firm's financial restructuring group. They will practice from the firm's 100-lawyer Houston office, Wege as a partner and Ripley as counsel.

"We are very excited to welcome Mark and Ed to King & Spalding and look forward to the contributions they will make to our bankruptcy practice," said Paul K. Ferdinands, the leader of King & Spalding's financial restructuring group. "They join Henry Kaim, Mickey Sheinfeld and Jerry McDaniel, recent additions to our Houston office, and together will provide our clients with a vast reservoir of legal skill and experience."

Wege joins King & Spalding from Bracewell & Giuliani, where he was a partner in the financial restructuring practice. Over the past 15 years, he has handled multibillion dollar out-of-court restructurings and represented debtors, DIP lenders, creditor committees, purchasers and creditors in Chapter 11 proceedings in bankruptcy courts throughout the United States and around the world. Many of his clients have been in the energy industry, including companies in oil and gas exploration and production, petrochemicals, integrated oil and gas, refining, electrical generation and transmission, oil field service and supply. He has also handled matters within the transportation, telecommunication, grocery and convenience store, wholesale product production and distribution, restaurant and healthcare industries.

Wege received a B.B.A. in Finance from the University of Texas and a J.D. from Baylor University School of Law. He is chair of the Houston Bar association's bankruptcy section.

Ripley was a partner in the bankruptcy and creditors' rights practice of Baker Hostetler. He is experienced in all aspects of Chapter 11 reorganizations, including the negotiation and approval of complex plans of reorganization. He also has experience in the litigation of contested matters, adversary proceedings, including preference and fraudulent conveyance actions, and bankruptcy appellate practice. He has represented debtors in possession, creditors' committees, secured creditors, indenture trustees and parties acquiring assets from bankruptcy cases. He has significant involvement in the oil and gas, manufacturing and chemical industries, as well as electric and gas utilities, retail sales, construction, gaming and biotechnology.

Ripley earned a B.A., magna cum laude, at the University of Akron and a J.D. at Drake University Law School.

"I am especially delighted that Mark and Ed have joined King & Spalding," said Kaim. "Their arrival reunites them with Mickey Sheinfeld, Jerry McDaniel and myself as a team that has worked together very successfully in the past. Our Houston financial restructuring team is now well-equipped and ready to expand our services to clients in Texas and throughout the United States."

King & Spalding opened its Houston office in 1995 with three litigators; today the office has grown to more than 100 attorneys focusing on a diverse array of litigation and transactional law.

King & Spalding has one of the nation's preeminent financial restructuring practices. This practice provides valuable knowledge and in-depth experience to virtually all facets of corporate reorganizations, in-court and out-of-court debt restructuring, bankruptcy and insolvency litigation, and distressed asset mergers and acquisitions. The firm is 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. The financial restructuring practice covers all segments of the economy, with particular emphasis on manufacturing, retail, construction, healthcare, insurance, energy and telecommunications.

(Note to Editors: For a photo of Mark Wege or Edward Ripley, please contact Kimberly Brooks at 212-827-4378 or kbrooks@kslaw.com.)

About King & Spalding

King & Spalding is an international law firm with more than 800 lawyers in Atlanta, Charlotte, Dubai, Frankfurt, Houston, London, New York, Riyadh (affiliated office) and Washington, D.C. The firm represents half of the Fortune 100 and in a Corporate Counsel survey in September 2007 was among the top firms representing Fortune 250 companies. For additional information, visit www.kslaw.com.

Contact Information: Contact: Kimberly Brooks King & Spalding Ph (212) 827-4378