Gibson Dunn Adds Capital Markets Partner in New York

18 October 2005

Gibson, Dunn & Crutcher LLP is pleased
to announce that Steve Guynn, Chair of Jones Day's Latin America Practice for
the past 12 years and a member of its Corporate Finance and M&A practices,
will join the firm's New York office as a partner. Guynn will join the
Capital Markets and Latin America Practice Groups and will focus his practice
on capital markets and acquisitions work with an emphasis on cross-border
transactions.
"Building our capital markets capability is a key part of our strategy for
New York," said Gibson Dunn Managing Partner Ken Doran. "Steve is a highly
regarded lawyer with a very strong capital markets practice. He will be a
terrific addition to the firm."
"We are pleased to welcome Steve to the firm," said Steven Shoemate,
Co-Partner in Charge of the New York office. "His experience in international
capital markets transactions, in cross-border acquisitions and in working with
banks and insurance companies and a variety of corporations in Latin America
complements the firm's capital markets, Latin America and other international
practices."
Guynn stated, "I have been privileged during the past several years to be
involved in more than $16 billion of equity and debt securities offerings, as
well as many major M&A transactions. The opportunity to combine this type of
practice with Gibson Dunn's exceptional lawyers and practices in New York,
Europe and Latin America, and its remarkable culture of collegiality and
teamwork, is compelling."

About Steve Guynn
Guynn handles a wide variety of securities offerings, mergers and
acquisitions, restructurings, and related matters for U.S. and non-U.S.
corporations, insurance companies, financial institutions and investment
firms.

Representative clients include:

* Credit Agricole in its $20 billion merger with Credit Lyonnais
* TNK in its $19 billion TNK-BP joint venture, and in a related
$3.74 billion monetization of BP ordinary shares
* Petrobras in its $3.4 billion IPO and an additional $2.0 billion of
other securities financings
* Bridgestone/Firestone in its $3.2 billion Latin American and global
recapitalization
* OIL Insurance Group of Companies in more than $2.7 billion of debt
securities offerings
* Banc of America Securities in debt and equity securities purchases in
Latin America
* Digicel in its acquisition of Cingular Wireless businesses in more
than a dozen jurisdictions throughout the Caribbean
* Virgin Group/Virgin Express Airlines in its merger with SN Air
(successor to Sabena Airlines)

Prior to joining Gibson Dunn, Guynn practiced with Jones Day since 1980,
spending three years as a lead capital markets and M&A Partner in the London
office. He also served as Chair of the Latin American practice since 1993 and
as Practice Leader of the International Securities practice since 1995. Guynn
received his law degree from University of Virginia in 1980 and served as
Notes Editor for Virginia Law Review. Guynn is fluent in French and Spanish.

About Gibson Dunn's Capital Markets Practice Group
Gibson Dunn corporate attorneys have experience with, and routinely advise
clients in connection with, virtually every type of corporate or commercial
transaction. Regardless of a client's size or stage of development, the Firm
takes the collective expertise gained from handling the most complex
transactions for the world's preeminent companies and make that expertise
available to every client. Like our peer firms, Gibson Dunn has deal lists
that demonstrate the competence that comes from multiple transactions across a
wide spectrum of deal structures. Recent transactions include representation
of:

* Neustar in its $605 million IPO
* American Home Mortgage Investment Corp. in its $319 million offering
of common stock
* K&F Industries Inc. in its $315 million IPO
* Herbalife in its $203 million IPO
* JPMorgan as underwriter in Wells Fargo & Co. issuance of floating rate
notes and notes valued at $5 billion
* Goldman Sachs & Co. as underwriter in Wells Fargo & Co.'s issuance of
extendible notes valued at $3.5 billion
* ABN Amro Inc. as underwriter in SLM Corp.'s offering of medium term
notes valued at $3 billion
* ABN Amro Inc. as underwriter in John Hancock Life Insurance Co.'s
issuance of medium term notes valued at $2.4 billion
* Pitney Bowes Inc. in its $2.1 billion offering of medium term notes
* Qwest Corp. in its $1.15 high yield offering of notes/floating rate
notes
* Morgan Stanley in its role as underwriter in Wells Fargo & Co.'s
offering of notes valued at $1 billion
* Qwest Communications International Inc. in its $600 million high yield
offering of senior notes
* CSN Islands X Corp. in its $500 million high yield offering (private)
of guaranteed perpetual notes
* American Tire Distributor in the high yield offering (private) of
senior notes, senior floating rate notes and senior discount notes
valued at $341.5 million

About Gibson Dunn's Latin America Practice Group
Gibson Dunn lawyers have been active in Latin America for more than
30 years, acting for a wide variety of North American, European and Latin
American clients in diverse transactions in most of the Latin American
countries.

Recent representative matters include:

* Telemar (leading Brazilian telecoms company) and Contax (leading
Brazilian call center company) in the distribution, to shareholders of
Telemar, of 379,603,460 shares and ADSs of Contax that were spun-off
by Telemar
* Telemar in a public exchange offer of up to $300 million of Telemar's
Series B 8% PRI Notes due 2013 for Series A 8% PRI Notes due 2013
* Morgan Stanley as underwriter in a Reg S/144A offering of $200 million
8.75% Senior Notes due 2010 issued by Banco BMG S.A. (Brazilian bank).
* CSN (second largest fully-integrated steel producer in Brazil and one
of the largest in Latin America in terms of crude steel production) in
a public exchange offer of $400 million of CSN Island IX's registered
10% Guaranteed Notes due 2013 for unregistered 10% Guaranteed Notes
due 2013
* Bear Stearns as underwriter in the public offering of $300 million
9.0% Notes due 2015 issued by the Government of Jamaica
* Bear Stearns as underwriter in a Reg S/144A offering of $200 million
9.375% Amortizing Notes due 2015 issued by Air Jamaica and guaranteed
by the Government of Jamaica.
* CSN in a Reg S/144A offering of $750 million 9.5% Guaranteed Perpetual
Notes guaranteed by CSN
* Vicunha in an offering of up to $500 million of its Perpetual Notes
secured by shares of CSN

About the Firm
Gibson, Dunn & Crutcher LLP is a leading international law firm.
Consistently ranking among the world's top law firms in industry surveys and
major publications, Gibson Dunn is distinctively positioned in today's global
marketplace with 800 lawyers and 13 offices, including Los Angeles, New York,
Washington, D.C., San Francisco, Palo Alto, London, Paris, Munich, Brussels,
Orange County, Century City, Dallas and Denver. For more information, please
visit gibsondunn.com.