KPMG Names Stephen G. Butler as Chairman of Global Firm - WITH PHOTO -

NEW YORK (PROTEXT) - KPMG International announced today thatStephen G. Butler, 51, has been named chairman of the worldwideprofessional services firm. Butler succeeds Colin M. Sharman, 56,former senior partner of the firm's U.K. practice, who completedhis term of office. (Photo: http://www.newscom.com/cgi-bin/prnh/19990701/NYTH006 ) Butler will remain chairman and CEO of KPMG LLP, the UnitedStates accounting, tax and consulting firm, and chairman ofKPMG's recently formed Americas region. An executive with anextensive background in international business, he has beencredited as the chief architect of numerous strategic and clientservice innovations, developed within the United States firm, toserve global clients. As chairman of KPMG International, Butler leads a firm of morethan 100,000 people worldwide that operates in 160 countries fromover 800 offices, providing assurance, tax, consulting andfinancial advisory services. Last year, the international firmrecorded revenues of $10.4 billion, a growth of 15.6 percent overthe prior fiscal year. Paul Reilly, chief executive officer ofKPMG International, will continue in his full-time role as headof the international executive team, working with Butler. "I'm enthused about KPMG's future prospects," Butler said."We'll continue moving KPMG toward a vision that emphasizes acohesive and capable firm that effectively serves multinationalclients anywhere they operate. "KPMG has made substantial investments in new technologies, inknowledge sharing, and in human resources to globalize fasterthan any competitor -- and to serve our clients with experiencedprofessionals and an information-rich product line," he said. Butler also noted, "Colin Sharman has guided KPMG through aperiod of great change -- change within our organization itselfand change in the marketplace. Through it all, Colin hasdemonstrated foresight, adaptability and strategic wisdom. Hisactions will have positive, far-reaching implications for KPMG,and we wish him continued success." Butler was elected chairman and CEO of KPMG LLP, the UnitedStates firm, in October 1996. He was formerly managing partner ofmetro New York, the firm's largest office worldwide, and partner-in-charge of KPMG's financial services practice in New York. Mostrecently, he was named chairman of KPMG's newly formed Americasregion, one of three global operating regions. Butler was appointed to the U.S. firm's management committeein 1992, when he was named partner-in-charge, international, ofKPMG's U.S. practice. During that time, he was a member of theKPMG Japanese practice council, on the board and managementcommittee of KPMG Huazhen (PRC), the KPMG Latin American regionalboard, and the KPMG Asia Pacific regional board. Earlier, Butler was named managing partner of KPMG'sinternational headquarters in Amsterdam in 1989, where hecoordinated the activities of all KPMG international committeesand regional organizations. Previously, he served as managingpartner of the firm's Memphis, Tenn. office and the firm'sJacksonville, Fla. office. He was elected to the partnership in1979. A native of Kansas City, Mo., Butler graduated cum laudewith a degree in business from the University of Missouri,Columbia, in 1969. He joined KPMG that same year. Butler is a member of the American Institute of CertifiedPublic Accountants, and he serves on the advisory board ofINSEAD/the European Institute of Business Administration inFrance. He is a member of the New York City Partnership, theboard of governors of the United Way of Tri-State, the board ofdirectors of the U.S. Chamber of Commerce and the board oftrustees of the U.S. Council for International Business. KPMG LLP is the U.S. member firm of KPMG International. In theU.S., KPMG partners and professionals provide a wide range ofaccounting, tax and consulting services. As a provider ofinformation-based services, KPMG delivers understandable businessadvice helping clients analyze their businesses with trueclarity, raise their level of performance, achieve growth andenhance shareholder value. KPMG International's member firms havemore than 100,000 professionals, including 6,800 partners, in 160countries. KPMG's Web site is http://www.us.kpmg.com. otsOriginal Text Service: KPMG International Internet:http://www.newsaktuell.de Contact: George Ledwith, 201-505-3543,or John Fidler, 201-505-8849, both of KPMG Photo: NewsCom:http://www.newscom.com/cgi-bin/prnh/19990701/NYTH006 PRN PhotoDesk, 888-776-6555 or 201-369-3467 Web site:http://www.us.kpmg.com

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