Contact: Madonna Jarrett
Deloitte Touche Tohmatsu
Director, Global PR & CEO Communications
+1 212 492 3738

Rome, Italy – June 8, 2007 —Business leaders gathered today at the Deloitte Global Forum in Rome to address the economic challenges in Europe and related corporate governance and talent management issues—two essential ingredients to protect and create shareholder value for European and global companies, and for sustainable business and economic development.

José María Aznar, the former prime minister of Spain, who was the guest speaker at the Deloitte Global Forum shared his thoughts on the development of Europe.

According to Mr. Aznar, "Europe as a whole is now growing at practically half the rate of growth of the world economy. It is disappointing that Europe is only able to expand at the same rate as the US economy. The current European rate of growth is not especially high, therefore economic reforms in Europe are necessary. Europe's leaders must, first of all, re-launch the Lisbon Agenda and approve an action plan based on reform and liberalization measures, and ensure a successful conclusion to the Doha Round. In my opinion, Europe should work to create an Atlantic Area of Prosperity, one that is also open to the rest of the world."

The Forum, which brought together 120 business leaders, is part of a series of knowledge-sharing events organized around the world by Deloitte Touche Tohmatsu, to address critical business issues.

James H. Quigley, the new CEO of Deloitte Touche Tohmatsu, who made his first public speech at the Deloitte Global Forum after beginning his tenure this week, said, "In order to sustain economic development there must be trust in the capital markets systems. Current corporate governance models, regardless of where they are in the world, were developed to generate such trust, and companies that embrace good governance will have a competitive advantage and be sustainable in the long term."

Mr. Quigley continued, "Corporate governance is more important today than ever because there are higher expectations, and increased scrutiny from investors, regulators and other capital market players. Good governance protects value and mitigates risk, which is important in an ever changing business environment."

Libero Milone, chairman of Deloitte Italy, who hosted the Forum, added that Italian companies have successfully started their journey toward internationalization and meeting the highest standards of corporate governance.

Another topic discussed at the Forum was talent management. It is fast becoming a top priority for many businesses around the world, as they address how the challenge will impact their performance in the long term.

The Deloitte Global Forum is a series of focused, knowledge-sharing events held around the world to address some of the most critical issues facing business. The inaugural Forum was held in 2006 in Buenos Aires, with former President of Brazil, Fernando Henrique Cardoso. Following that event was the Deloitte Global Forum in Shanghai, featuring the Vice Mayor of Shanghai, Feng Guoqin, and the Secretary General of the BOAO Forum for Asia, Long Yongtu. The most recent Forum in Washington, D.C. involved discussions with former US Secretary of Transportation Norman Mineta who spoke on private investment in public infrastructure.

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