Tokyo, September 21, 2004 - Morrison & Foerster is pleased to announce that senior finance partner Tsugumichi Watanabe has joined the firm's Tokyo office. Formerly with the New York office of Milbank Tweed Hadley & McCloy, Mr. Watanabe brings over 20 years of experience in sophisticated international financing transactions.

At the same time, Morrison & Foerster announced its expansion to a third floor of its current office building, giving the firm additional space to expand from the current 65 attorneys to close to 100 in Tokyo.

"Tsugu's arrival represents a significant expansion of our existing strong finance practice in Tokyo. His presence further extends our on the ground capability to handle complex transactions, including project finance, real estate, asset-based lending, structured finance, and acquisition finance," said Ken Siegel, managing partner of Morrison & Foerster's Tokyo office. "With the addition of Katsuhiko Fujihira, a senior finance partner, earlier this summer, we are now uniquely positioned to advise on complex financings under both Japanese and non-Japanese law. Tsugu Watanabe's addition to the office both strengthens and broadens the expertise that is available to our clients here in Japan." Keith Wetmore, Chair of the firm, noted, "Tsugu's arrival in the firm's Tokyo office is yet another step in the growth of the firm's global finance franchise. He has invaluable expertise and market recognition that will bring synergies not only to our Tokyo practice but also to the firm's U.S. finance practice in New York, London, Washington, D.C., and California. In addition, Tsugu's longstanding experience in the New York marketplace is also a logical next step in the ever growing nexus between our Tokyo office and the firm's New York Japanese practice."

Mr. Watanabe has experience in all phases of international financing transactions, including project financings, asset-backed financings, real estate, restructurings and workouts, and cross-border securitizations. He has recently devoted much of his time to power, pipeline, and oil and gas financings in Asia, Latin America, and Russia, representing commercial bank lenders, export credit agencies, and other governmental entities and sponsors.

"I am very pleased to be joining Morrison & Foerster," said Mr. Watanabe. "The firm's strong Japanese law capability and established presence in Tokyo, combined with its leading worldwide finance practice, provide a unique opportunity to expand my practice."

Mr. Watanabe received his undergraduate and graduate degrees from Harvard University (B.A., 1976; M.A., 1978) and his J.D. degree from Harvard Law School in 1981. He began his legal career with Milbank Tweed Hadley & McCloy in New York, and spent several years in their Tokyo office.

In 2003 Morrison & Foerster launched a real estate and distressed asset practice in Tokyo with the arrival of Eric Piesner and Theodore Seltzer (as U.S. partners), and Shinji Itoh and Ryugo Yoshimura (as Japanese partners), two leading practitioners in finance and securitization. Earlier this year the firm further expanded its finance practice and Japanese law capabilities with the addition of Katsuhiko Fujihira, a senior finance partner with nearly 20 years in the finance area in Tokyo.