Contact: Belinda Watson
Deloitte Touche Tohmatsu
+1 212 492 3772

Read this   Press Release in Spanish.

New York, September 15, 2003 — Alberto Terol has been named Regional Managing Partner for Latin America and the Caribbean for Deloitte Touche Tohmatsu. Terol succeeds Tom Cryer, who has retired from his regional role, but will continue to serve as Chairman of Deloitte's global insurance company, Nautilus Indemnity Limited.

"I'm excited about Alberto's selection as leader to succeed me in this regional role," Cryer said. "He has the depth and experience to continue to bring global insights and perspectives to the region. I'm very pleased with the success of the managing partners, professionals and staff and their accomplishments over the past several years to place us in a leading position in Latin America."

Deloitte has grown three-fold in the past seven years, with more than 10,000 employees serving many of Latin America's top 500 companies.

"I would like to continue Tom Cryer's work by strengthening Deloitte's leadership throughout Latin America and the Caribbean," said Terol. "Our practices are now clearly being recognized as being among the best in the region. I look forward to continuing the implementation of our global strategies in the region."

Before joining Deloitte in October 2002, Terol played an important role in numerous global activities throughout Europe, the Middle East, India and Africa for Arthur Andersen. He held many leadership roles at Andersen, most notably as president for Andersen's European region in 2001 and Global Managing Partner of Tax and Legal Services from 1997 to 2001. He was a member of Andersen's Worldwide Board of Partners and Executive Committee. He has more than 25 years' experience in tax and legal services including tax aspects of mergers, acquisitions, planning, and compliance services.

"Throughout my career, I have always wanted to work in the Latin American region. This is the realization of a very personal aspiration. I am very excited about this new role," added Terol.

Terol holds a master's degree in tax consulting from the Comillas University in Madrid and a law degree from the Complutense University in Madrid.

About Deloitte Touche Tohmatsu
Deloitte Touche Tohmatsu is one of the world's leading professional services organizations. The member firms of Deloitte Touche Tohmatsu deliver world-class assurance and advisory, tax, and consulting services. With more than 119,000 people in over 140 countries, the member firms serve over one-half of the world's largest companies, as well as large national enterprises, public institutions, and successful, fast-growing global growth companies. Our internationally experienced professionals strive to deliver seamless, consistent services wherever our clients operate. Our mission is to help our clients and our people excel. Deloitte Touche Tohmatsu is a Swiss Verein, and each of its national practices is a separate and independent legal entity.