Contact: Cindy Morgan-Olson  
Manager, National Communications 
Deloitte & Touche LLP 
1 646 408 5896 

NEW YORK, May 20, 2003 — "The role of boards today is making a big impact on the public's trust, therefore to restore this trust, our corporate board members must do the right thing every day, individually and collectively," said Sharon Allen, incoming chairman of Deloitte & Touche LLP's U.S. board of directors yesterday.

Allen made the statement while moderating a panel discussion "Things I Wish I had Known Before Joining a Board," part of Deloitte & Touche's first "Diversifying the American Board," corporate governance seminar hosted by the firm. More than 125 board directors and other professionals in business, academia and the nonprofit sector gathered for the discussion, which was designed to help diverse candidates for board positions better understand corporate governance issues and gain insight into the workings of corporate boards.

Allen and other participants addressed some of the challenges faced by women, minorities and newcomers in serving on corporate boards. The event spotlighted three experienced board members of diverse backgrounds.

A Deloitte & Touche survey presented during the seminar noted that 58 percent of the directors at 209 Fortune 1000 companies agreed that a diverse corporate board is important.

Sharing their personal experiences serving on corporate boards were Martha Clark Goss, chief financial officer of Blaqwell and a director of Foster-Wheeler; Dr. Rosina Dixon, a director of Church & Dwight; and Shirley Young, president of Shirley Young Associates and board member of Teletch and Netro Corporation.

The seminar also featured "Trends in Executive and Director Compensation," a presentation by Martin J. Somelofske and Donna Stetler, senior members of Deloitte & Touche's Human Capital practice. They discussed the role of the compensation committee, emerging trends in the composition levels of executive   and director compensation, and the impact of recent reforms on compensation.

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