November 18, 2002 – Marakon Associates has formed a Board of Advisors to help guide the firm on its strategy, practice and growth opportunities. The board consists of five eminent business leaders – all former chairmen and CEOs of major multinational corporations. They are:

• Sir George Jeffrey Bull, Chairman of J. Sainsbury plc, former Chairman of Diageo plc, and former Chairman and CEO of Grand Metropolitan plc
• Arthur C. Martinez, former Chairman and CEO of Sears, Roebuck and Co.
• Sir Brian Pitman, former Chairman and CEO of Lloyds TSB Group
• Lewis E. Platt, former Chairman, President and CEO of Hewlett-Packard Co. and former CEO of Kendall-Jackson Wine Estates Ltd.
• Frank G. Zarb, former Chairman and CEO of the National Association of Securities Dealers and the Nasdaq Stock Market, Inc.

"We feel extremely fortunate to have attracted such luminaries to advise Marakon, particularly since demand for prominent former CEOs has been enormous over the last few years," said Marakon Chief Executive Ken Favaro. "It is a tremendous vote of confidence in Marakon that business people of such caliber and distinction have chosen to allocate some of their precious time to working with us."

Following are biographical details on the five advisory board members:

Sir George Jeffrey Bull: Has served as Chairman of J. Sainsbury plc since 1998. Before that, he was Chairman of Diageo plc and one of the principal architects behind the merger of Grand Metropolitan and Guinness, which formed Diageo. His earlier posts included Chairman of Grand Metropolitan (1996-1997), CEO of Grand Metropolitan (1993-1996), CEO and Chairman (1988) of IDV Ltd. (1984-1992). He is a Director of BNP Paribas UK Holdings Ltd. and a Director of The Maersk Co. Ltd.

Arthur C. Martinez: Was Chairman and CEO of Sears, Roebuck and Co. (1995-2000). He joined Sears in 1992 as Chairman and CEO of its retail arm, Sears Merchandise Group. Previously, he was Vice Chairman and Director of Saks Fifth Avenue (1990-92). From 1987 to 1990, he was Group Chief Executive for the retail division of BATUS, Inc., which included Saks, Marshall Field’s and other chains. He is a Director of ABN Amro Bank N.V., PepsiCo, Inc., Liz Claiborne, Inc., International Flavors & Fragrances, Inc., and Martha Stewart Living Omni Media, Inc. He also serves as a Director and former Chairman of the Federal Reserve Bank of Chicago and as a Trustee of Northwestern University.

Sir Brian Pitman: Became Chief Executive of Lloyds Bank in 1983 and Group Chief Executive of the new Lloyds TSB Group in 1995, when Lloyds merged with TSB. He was appointed Chairman in 1997 and retired in 2001. He currently serves as a Director of Carlton Communications, Plc; Tomkins PLC, and The Carphone Warehouse Group Plc. He also serves as a Senior Advisor to Morgan Stanley and as a Governor of Ashridge Management College. Additionally, he is a former Chairman of NEXT Plc; a former President of the British Bankers Association and a former President of The Chartered Institute of Bankers.

Lewis E. Platt: Served as CEO of Kendall-Jackson Wine Estates, Ltd. from 2000-2001. Previously, he was Chairman and CEO of Hewlett-Packard Co. (1992-1999). He joined HP in 1966. In 1995, he was appointed to the Advisory Committee on Trade Policy and Negotiations by President Clinton. He served as Chairman of the World Trade Organization Task Force. He is a Director of The Boeing Company, 7-Eleven, Inc. and a Trustee of The David and Lucille Packard Foundation. He is also a member of the Wharton School Board of Overseers and a former member of The Business Roundtable.

Frank G. Zarb: Became Chairman and CEO of the National Association of Securities Dealers (NASD) in 1997. He served as CEO until Feb. 2001 and as Chairman until Sept. 2001. He served as CEO of the Nasdaq Stock Market, Inc. from January 2000 to September 2001. Currently, he is Chairman of Frank Zarb Associates and is Senior Advisor to Hellman & Friedman LLC. Previously, he was Chairman, CEO and President of Alexander & Alexander (1994-1997). Before that, was Vice Chairman and CEO of The Travelers, Inc. (1991-94) and Chairman and CEO of Smith Barney, a Travelers subsidiary (1988-93). Prior to Smith Barney, he was a Senior Partner at Lazard Frères & Co. (1978-1988). From 1974 to 1977, he was the senior official for all U.S. government energy-related activities (the "Energy Czar"). He currently serves on the board of American International Group (AIG), FPL Group and the Lower Manhattan Development Corp.

About Marakon Associates

Marakon Associates is a management consulting firm that advises top executives on growing the long-term value of their companies. The firm is widely recognized for its distinctive practice comprising the disciplines of leadership, organization, strategy and finance in an integrated approach to long-term value growth. Marakon is based in New York and London, with additional offices in Chicago, San Francisco and Singapore. For more information, contact David Fondiller at (212) 377-5016.