Hong Kong (November 5, 2002) - International law firm Debevoise & Plimpton is pleased to announce the opening of its Shanghai office. The Shanghai office will serve China-based clients seeking to raise capital, develop sources of raw materials, and acquire new operating assets located outside of China, as well as the firm's international clients investing in China. The firm's Shanghai-based lawyers will be closely integrated with its existing Hong Kong office, and will draw directly from the firm's worldwide corporate, tax and arbitration teams.

A significant element of the office's work is expected to be in the formation of China-oriented private equity funds for domestic and international sponsors, and assisting international private equity funds to invest in China. The firm is a leader in the formation of private equity funds and is working closely with fund sponsors and other interested parties to make China's rules on the participation of international sponsors and investors in onshore fund formation more user friendly.

Ms. Li Li To Head Office
The firm also announces the appointment of Ms. Li Li , who has recently joined Debevoise as International Counsel, to head the firm's China practice. Ms. Li is a native of Beijing and before joining Debevoise spent her entire professional career with the New York firm of Winthrop Stimson (now Pillsbury & Winthrop LLP) in New York and then in that firm's China practice. While in New York, Ms. Li represented U.S. and foreign financial institutions in a wide range of lending, leasing and project financing activities. In China, she has represented U.S. and other multinational companies investing in China, as well as Chinese companies involved in international equity and debt offerings and cross-border acquisitions.

Ms. Li received an M.A. in economics from Duke University and then, in 1991, a J.D. from Columbia University School of Law. She is a member of the New York bar and is also qualified, but not currently licensed, to practice Chinese law.

Debevoise & Plimpton was founded in 1931 and has eight offices in financial centers around the world: New York, Washington, D.C., London, Paris, Frankfurt, Moscow, Hong Kong and now Shanghai. The firm, with more than 500 lawyers, provides international services in corporate, litigation, tax, and trusts and estates law.

The firm's new Shanghai office is located at 22/F Jin Mao Tower, 88 Century Boulevard, Pudong New District, Shanghai 200121. The telephone number is (86 21) 5047-1800 or 5047-1500 and the fax number is (86 21) 5047-1600.

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