Andersen Partners Agree To Accelerate Strategy

Andersen Consulting Partners Agree To Accelerate Execution Of Strategy

Annual Meeting Concludes with Commitment to Investigate Feasibility
of Partial Public Offering

WELLINGTON, October 19, 2000 – At a meeting in Miami last week, the 2,500 partners of Andersen Consulting reaffirmed the firm’s strategy and committed to accelerate its progress. To do so, the partners agreed to proceed with the analytical, legal, financial, regulatory and other work around the world necessary to give the partners an understanding of a partial public offering option.

Joe W. Forehand, managing partner & CEO, said, “We are creating one of the world’s greatest companies, capable of delivering unprecedented value to our clients. As part of that process, we will investigate whether a partial public offering will help us accelerate our strategy while preserving the best qualities of our partnership and the vital entrepreneurial spirit that have made our firm successful.”

Under its strategy, the firm is delivering an expanded range of solutions and services to clients through its consulting and outsourcing business, operating companies, alliances and investments in ventures that employ innovative new technologies and business models. It has more than 100 alliances that extend its client service capabilities. In the last 12 months, the firm has established 25 Business Launch Centres, launched four operating companies, such as Avanade with Microsoft, and invested in 33 companies through AC Ventures, its venture capital unit. In Miami, the partners expressed support for the strategy and for actions that would allow the firm to quicken the pace of progress through greater access to capital.

Andersen Consulting’s existing legal structure is a series of connected partnerships around the world. At the core of its activities is a global consulting organisation with deep reservoirs of industry knowledge, technological expertise and strategic insight. In addition, the firm is forging a series of landmark ventures, operating companies, and alliances that interact with the consulting business to develop and deliver the latest business solutions. Through the firm’s investments in emerging technologies and business approaches, it seeks to offer clients immediate access to early developments from the frontlines of the new economy.

About Andersen Consulting
Andersen Consulting is a US$8.9 billion management and technology consulting organisation that is reinventing itself to become the market maker, architect and builder of the new economy, bringing innovations that improve the way the world works and lives. More than 65,000 professionals in 48 countries deliver a wide range of specialised capabilities through service lines to clients across all industries. The firm's network of businesses provides a range of services including venture funding, business incubation and launch, consulting, technology and alliances. In Australia and New Zealand, over 1800 people are employed, with revenue of AUD$323 million in 1999. Our web site address is www.ac.com. On January 1, 2001, the firm will enter the next century with a new name, marking its wholly independent status and reflecting the firm's bold new approach to serving its clients.

Renamed. Redefined. Reborn. 01.01.01

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Media Contacts:

Sally Siebold Tracy Dillimore
Andersen Consulting Network Communications
Ph: (0061 02) 9005 5403 Ph: 025 405 595
Email: sally.j.siebold@ac.com Email: tracy.dillimore@networkpr.com

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