ROBERT D. DRAIN APPOINTED UNITED STATES BANKRUPTCY JUDGE FOR THE SOUTHERN DISTRICT OF NEW YORK

New York, May 28, 2002-- Robert D. Drain, a partner in Paul Weiss' Bankruptcy Department, has been appointed by the United States Court of Appeals for the Second Circuit as a United States Bankruptcy Judge for the Southern District of New York, sitting at the Bowling Green Courthouse in Manhattan. Judge Drain's public induction ceremony is scheduled for June 10, 2002 at 4:00 p.m. in the Bowling Green Courthouse. Judge Drain, until his appointment, was a partner for ten years with Paul Weiss, where he specialized in representing creditors, committees and debtors in large Chapter 11 cases as well as transnational insolvency matters and bankruptcy acquisitions. He is a member of the Association of the Bar of the City of New York and a past secretary of its Committee on Bankruptcy and Corporate Reorganization. Judge Drain graduated from Yale University (1979) and the Columbia University School of Law (1984), where he was a Harlan Fiske Stone Scholar for three years.