Marks Paneth & Shron LLP, Leading New York Area Accounting Firm, Elects New Leadership

January 22, 2008

Arthur Cannata and Mark Levenfus Become Co-Managing Partners of Firm that Serves Businesses as Well as High Net Worth Individuals

New York, NY - (January 22, 2008) - Marks Paneth LLP , a full-service accounting firm with nearly 500 people, 69 of whom are partners and principals, has elected new leadership.

Arthur E. Cannata CPA, (58), a specialist in the real estate, retail and high-net-worth areas, and Mark Levenfus CPA, (57), a general accounting and audit expert with a specialty in the media and entertainment industries, have assumed the role of co-Managing Partners. Mr. Cannata and Mr. Levenfus succeed Steven C. Baum and Arnold A. Gruber, who previously served as co-managing partners of Marks Paneth.

Said Steven Baum, who is ending his 8-year tenure as Managing Partner, "As Marks Paneth grows rapidly – in size and expertise – we remain firmly committed to serving our clients in the most strategic, creative and practical ways possible. Arthur Cannata and Mark Levenfus are not only great leaders and deeply experienced professionals, but they also embody and inspire our approach to working with and providing real value to our clients. They will ensure that we continue to be the straightforward, proactive, dependable experts that our clients deserve."

Marks Paneth is the 15th largest accounting firm in the New York area. It provides businesses with a full range of auditing, accounting and tax services as well as litigation and financial advisory services to domestic and international clients in selected industries. The firm specializes in providing tax advisory and consulting for high net worth individuals and their families, as well as a wide range of services for international, real estate, media, entertainment, nonprofit, professional services and energy clients.

Arthur Cannata has over 30 years of experience in the accounting and financial advisory field. In addition to his real estate, retail and high net worth expertise, he has a sub-specialty in asset management for real estate. He is currently responsible for the operation of a large portfolio of commercial properties. Mr. Cannata has spent nearly his entire career at Marks Paneth and its predecessor firms. He became a partner in 1986. He is a key player in planning and executing the firm's growth, acquisition and client service strategies. A member of the Real Estate Board of New York, Mr. Cannata holds a Bachelor of Business Administration from Kent State University. Mr. Cannata is based in Marks Paneth's Manhattan office.

Mark Levenfus also has more than 30 years of experience in the industry and has recently been Marks Paneth's partner in charge of the accounting and auditing practice. In addition to serving the media and entertainment industry where he works with a significant number of production companies, studios, advertising agencies, direct marketers, broadcasters, publishers and new media clients, Mr. Levenfus is known for his expertise in financial services. He works with a number of clients that require hedge fund, fund of fund and private equity management consultative services; he provides them with guidance on tax planning and fund structuring. Mr. Levenfus began his career at Marks Paneth and its predecessor firms. He became a partner in 1983. He is a member of the Association of Independent Commercial Producers, past president and current board member of the American Pardes Foundation and an Audit Committee member of the New York Roadrunners Club. Mr. Levenfus holds a Bachelor of Science in Accounting from Brooklyn College and did graduate work in accounting at Baruch College. He is based in Marks Paneth's Manhattan office.

About Marks Paneth LLP

Marks Paneth LLP is an accounting firm with nearly 500 people, 69 of whom are partners and principals. The firm provides businesses with a full range of auditing, accounting and tax services as well as litigation and financial advisory services to domestic and international clients in selected industries. The firm specializes in providing tax advisory and consulting for high net worth individuals and their families, as well as a wide range of services for international, real estate, media, entertainment, nonprofit, professional services and energy clients.

The firm's subsidiary, Tailored Technologies, LLC, provides information technology consulting services. In addition, its membership in JHI, the leading international association for independent business advisers, financial consulting and accounting firms, facilitates service delivery to clients throughout the United States and around the world.

Marks Paneth, whose origins date back to 1907, is the 28th largest accounting firm in the U.S., and the 15th largest in the New York area. Its headquarters are in Manhattan. Additional offices are in Westchester, Long Island and the Cayman Islands.