King & Spalding Establishes Financial Restructuring Capability in Houston With Addition of Senior Counsels Mickey Sheinfeld and Jerry McDaniel

HOUSTON, TX -- (MARKET WIRE) -- May 14, 2007 -- King & Spalding, a leading international law firm, today announced the expansion into Houston of its highly regarded financial restructuring practice with the arrival of Myron "Mickey" Sheinfeld and Jarrel "Jerry" McDaniel as senior counsels. Their addition to the Houston office complements the firm's existing financial restructuring practices in Atlanta and New York, bringing to 24 the total number of lawyers in the group. Sheinfeld and McDaniel are joining King & Spalding from Akin Gump Strauss Hauer & Feld LLP, where they were senior counsels.

"Mickey and Jerry are highly recognized bankruptcy lawyers with a long history of handling high-profile matters," said Robert E. "Bobby" Meadows, managing partner of King & Spalding's Houston office. "We are thrilled these outstanding lawyers have joined King & Spalding and look forward to the contributions they will make to our clients."

Sheinfeld, widely regarded as the "dean" of the bankruptcy bar in Houston, has more than 40 years of experience in bankruptcy and reorganization. His practice also includes bankruptcy tax, creditors' rights, financial restructuring, corporate governance and director duties and responsibilities. A former Assistant United States Attorney for the Southern District of Texas, he had spent the majority of his legal career at his own firm, Sheinfeld, Maley & Kay, P.C.

McDaniel focuses his practice on reorganization and insolvency matters and has extensive experience litigating the value of assets. He began practicing law in 1957 and spent most of his career at Vinson & Elkins, where he formed and headed its creditor rights and insolvency group. He is a Fellow of the American College of Bankruptcy.

Sarah R. Borders, head of King & Spalding's financial restructuring practice, said, "We are proud to welcome Jerry and Mickey to King & Spalding. In handling some of the most significant bankruptcies and financial restructurings in Texas and throughout the country, they have been at the cutting edge of the legal profession."

King & Spalding has one of the nation's preeminent financial restructuring practices. It 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. This practice 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 Houston office of King & Spalding, with more than 100 lawyers, provides a wide range of services to clients the world over. Chief among its practices are those focusing on litigation and transactional law, especially energy, international arbitration and Latin American matters.

Note to Editors: For a photo of Mickey Sheinfeld or Jerry McDaniel, please contact Matthew Hyams at 212-827-4057 or mhyams@kslaw.com.

About King & Spalding

King & Spalding is an international law firm with more than 800 lawyers in Atlanta, Dubai, 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 August 2006 was ranked one of the top ten firms representing Fortune 250 companies overall. For additional information, visit www.kslaw.com.

Contact Information: Contacts: Matthew Hyams King & Spalding Ph (212) 827-4057 Email Contact