New York, November 11, 2005 — Mr. William G. Parrett, CEO Deloitte Touche Tohmatsu, today welcomed the appointment of Ingebret Hisdal, Managing Partner of Deloitte Norway, and Adir Inbar, Professional Leader and Audit Partner of Deloitte Israel as members of the reconstituted Standards Advisory Council (SAC) of the International Accounting Standards Board (IASB).

The primary objective of the SAC is to provide a forum where the International Accounting Standards Board consults individuals (and representatives of  global organizations affected by its work) who are committed to the development of high quality International Financial Reporting Standards (IFRS).

In congratulating Ingebret Hisdal and Adir Inbar on their appointments, Mr. Parrett said, "I could not be more delighted. In their letter of appointment, the IASC Foundation Trustees stated that Ingebret and Adir were chosen from a field of candidates with exceptional quality and were impressed by their qualifications and expertise. Not only do these comments reflect well on these gentlemen personally, but on the commitment of Deloitte member firms to providing high-quality support to the IASB at all levels."

Mr. Parrett continued, "Enhancing the quality of financial reporting is critical to the development of capital markets around the world. And as a profession, we can play a role through bodies such as IASB."

Mr. Hisdal and Mr. Inbar said they are honored to be appointed to the reconstituted SAC. They said "We look forward to participate in the SAC’s activities, providing the IASB the benefits of real-life experience as audit partners in IFRS jurisdictions and appreciate the opportunity to be a link between them and our colleagues in our regions."

The appointments are effective immediately and expire December 31, 2008. The first meeting of the reconstituted SAC will be November 10-11, 2005 in London.

Notes for editors and biographical information appear below. Photographs of Mr. Hisdal and Mr. Inbar are available on request.

About Ingebret Hisdal
Ingebret Hisdal is the Managing Partner of the Norwegian Member Firm of Deloitte Touche Tohmatsu (since 1992). He is a State Authorized Accountant, Norway. He has served multinational companies headquartered in Norway, including Norsk Hydro, Dyno Nobel, Yara International and Storebrand. Ingebret has also assisted companies with SEC filings, SEC Foreign Stock Exchange corporate governance issues and Stock Exchange/ SEC filings related to international capital market transactions. He has also advised on financial reporting issues under Norwegian GAAP, IFRS and U.S. GAAP, within Deloitte and externally. He has served on the Board of Directors of Deloitte Touche Tohmatsu and is the chairman of the IFRS Strategy Board of Deloitte Touche Tohmatsu.

About Adir Inbar
Adir Inbar is professional leader and audit partner of Deloitte Israel, and has provided audit services to some of Israel's largest entities in various industries, including building and infrastructure, manufacturing, insurance, and finance. Adir holds many professional positions within the accounting industry including being a member of the Standards Advisory Council of the IASB from its inception, Chairman of the Professional Board of ICPAI, Vice President, Member of Council and Member of Executive Committee, Institute of Certified Public Accountants in Israel (ICPIA), and permanent participant of the Technical Committee of the Israel Accounting Standards Board. Mr. Inbar is also one of the leading members of the team designing the process to replace the entire set of Israeli accounting standards with IFRS.

About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms, and their respective subsidiaries and affiliates. Deloitte Touche Tohmatsu is an organization of member firms around the world devoted to excellence in providing professional services and advice, focused on client service through a global strategy executed locally in nearly 150 countries. With access to the deep intellectual capital of 120,000 people worldwide, Deloitte delivers services in four professional areas — audit, tax, consulting and financial advisory services — and serves more than one-half of the world's largest companies, as well as large national enterprises, public institutions, locally important clients, and successful, fast-growing global growth companies.

Services are not provided by the Deloitte Touche Tohmatsu Verein, and, for regulatory and other reasons, certain member firms do not provide services in all four professional areas.