Berenson Minella Announces Appointment of Edward J. Tirello, Jr. as Managing Director and Senior Power Strategist in the Power and Utilities Group

12/20/2001

NEW YORK, NY – Berenson Minella, the New York-based investment bank, today announced the appointment of Edward J. Tirello, Jr. as Managing Director and Senior Power Strategist in the firm’s Power and Utilities Group. Ed will be responsible for furthering the firm’s activities in the power and utilities sector.

Prior to joining Berenson Minella, Ed was a strategist and senior research analyst for Deutsche Bank in their Utility Investment Banking Group. Previously, he held positions at BT Alex Brown, NatWest Securities, Smith Barney and Lehman Brothers. During his research tenure, Ed had been on the Institutional Investor “All-Star” Team for 16 years.

“Berenson Minella offers me an excellent opportunity to capitalize on my years in the power and utilities sector,” said Tirello. “The firm has a top group of banking professionals in all the areas important to the industry at this critical time, in particular M&A, private finance, and restructuring. I am confident that we will be able to expand on the solid foothold the firm already has in the power and utilities sector.”

“We are pleased to have someone of Ed Tirello’s caliber join Berenson Minella. Throughout his career, he has gained a reputation for the accuracy of his analysis and ability to identify market trends. His experience on both the banking and research sides of the business will be invaluable to us as we strengthen our services and offerings in power and utilities,” said Jeffrey Berenson, the firm’s President and CEO.

About Berenson Minella

Founded in 1990, Berenson Minella is a private investment bank with a broad range of advisory and financing capabilities. Based in New York City, the firm provides clients with core services in M&A, private finance, restructuring and real estate. Berenson Minella’s ability to devise solutions to highly complex problems has resulted in its involvement in some of the most creative deals in each of its core business areas. In the power and utilities sector, the firm works with clients on a variety of strategic advisory assignments. In 2000, Berenson Minella served as Illinova’s advisor through its merger with Dynegy, one of the industry’s largest transactions.