PKF German Firms' Merger Creates Top 10 Firm

PRESS RELEASE

PKF GERMAN FIRMS’ MERGER CREATES NEW TOP TEN ACCOUNTANCY FIRM

9 December 2009: The merger of four high-profile PKF International (PKFI) member firms in Germany has created a top ten accounting firm with an estimated turnover of € 58 million. Called PKF Fasselt Schlage, the firm is headquartered in Berlin with 14 offices in Germany employing around 600 staff of whom over 180 are qualified professional experts (certified public accountants, tax consultants, lawyers), many of whom have multiple qualifications.

Dr Marian Ellerich, Partner of PKF Fasselt Schlage in Duisburg said: “The merger will reinforce our position as one of the leading independent, partner-managed auditing and consultancy firms in Germany. Our aim is to pool our expertise and make our range of services available to clients in all locations.”

Wolfgang Hofmann, Chairman of the PKF International Board and PKF Fasselt Schlage Partner in Frankfurt, said: “The merger will increase the presence of the PKF brand in the German marketplace. It is a positive message that member firms who have worked together closely before have now joined forces to create a new and stronger single entity.”

End

Note to Editors:

PKF International Limited (PKFI) is a network of legally independent member firms with around 245 member and correspondent firms located in over 440 offices in 125 countries throughout the world. PKFI is the 11^th largest global accountancy network with $1.9 billion fee income (year end June 2009). Over 1,800 partners and 15,700 staff are employed by PKFI member firms.

PKFI is a network member of the Forum of Firms, an organisation dedicated to consistent and high quality standards of financial reporting and auditing standards worldwide.

The PKFI network of legally independent firms does not accept any responsibility or liability for the actions or inactions on the part of any individual member firm or firms.

For further information about PKF International, please visit www.pkf.com