DELOITTE & TOUCHE ANNOUNCES NEW LEADERSHIP

Deloitte & Touche has announced that, effective May 30, 1999, James E. Copeland Jr. will be its CEO, Douglas M. McCracken will chair its board, and William G. Parrett will be managing partner. In their respective new roles, Copeland and McCracken succeed J. Michael Cook, the current chair and CEO of Deloitte & Touche. Parrett assumes the position formerly held by Copeland. All positions have four-year terms.

The three management positions were subject to the approval of Deloitte & Touche's U.S. partners through a voting process accelerated in order to accommodate the needs of its global parent, Deloitte Touche Tohmatsu (DTT), which is moving to further globalize its audit and tax and regulatory services after its consulting practice. DTT is expected to select Copeland as its global CEO. Edward A. Kangas, who has served as chair and CEO of DTT since 1989, will continue chairing DTT's board of directors.

"I believe the future leaders approved by our partners will successfully create a cohesive global firm while maintaining our strong commitment to client service excellence," said Cook, who has been chair and CEO of Deloitte & Touche for 15 years. "I congratulate each of them and wish them success as they lead the firm into the next millennium."

Cook was ineligible to stand for reelection. *

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