NEW YORK, Feb. 4, 2004 – Marakon Associates, one of the world's premier strategy consulting firms, announced today that its co-chairman and co-founder, Peter Kontes, has decided to retire from the firm after 25 years and will be winding down his activities in the coming weeks.

Kontes, who will continue to be involved in the firm as chairman emeritus starting March 1, said he has been thinking about retiring for several years and decided to leave now because at 57, he still has time to explore other professional and public service opportunities outside of consulting.

"Marakon has had many wonderful achievements over the past 25 years, and I’m proud that we have made a difference in modern management practices and in the consulting industry itself," Kontes said. "I am sure that my fellow partners will continue on in this great tradition and take the firm to even higher levels of success."

Marakon Chief Executive Ken Favaro commented, "Marakon would not be what it is today without Peter’s enormous contribution. Our leadership team and the worldwide partners overall are committed to building on the strong foundation Peter helped establish."

Kontes is a leading authority on managing large companies to achieve superior value growth. He has authored a number of publications and co-authored (with Jim McTaggart and Michael Mankins) The Value Imperative: Managing for Superior Shareholder Returns (Free Press, 1994).

Prior to co-founding Marakon in 1978, Kontes was a corporate finance officer at Bank of America and subsequently at Wells Fargo Bank.

About Marakon Associates:

Marakon Associates advises top executives on growing the long-term value of their companies. The Economist has called the firm "a consultancy that has advised some of the world’s most consistently successful companies." Marakon is based in New York and London, with additional offices in Chicago, San Francisco and Singapore.