New York, June 9, 2005 — Almost 250 Deloitte member firm leaders from around the world are meeting in New York this week. They will determine how best to meet the changing expectations of their various stakeholders and grow the businesses of the member firms of the global organization that today announced estimated aggregate member firms revenues of US$18 billion.

Preliminary figures suggest FY05 aggregate member firm revenue growth of more than 10 percent, consistent with an increase in demand for services. Audit and enterprise risk services showed the strongest growth at almost 15 percent; followed by financial advisory services and consulting growing at 9 percent each; and, an increasing market share for tax services despite tough market conditions.

William G. Parrett, CEO of Deloitte, said, "The growth has been the direct result of the increased demand for services. Simply, it is a case of increased service hours across member firm markets.

"This is the member firms 12th year of aggregate revenue growth. That is a proud achievement for all the leaders here in New York. This reflects the expertise and commitment of member firm people, not just to clients but also to their member firms. It is also the result of the key strategic decisions that have been made over the years — decisions to merge, not to merge or to continue delivering consultative services."

It is no coincidence the 2005 Annual World Meeting is in New York, the location of the organization's global headquarters. It is also the location where some of the most significant transactions in the organization’s history have been signed.

Mr. Parrett said, "The decisions made at this week's World Meeting in New York will determine DTT's success tomorrow. We want Deloitte member firms to build on their strong reputation for delivering excellence and Deloitte firm leaders are taking decisive steps now to do this."

Some of the strategic scenarios being considered by member firm leaders at the Annual Meeting include:

• Key competitor moves — acquisitions and divestures
• Major legal developments impairing current business models and heightening risk
• Further regulatory developments — including closer scrutiny and scope of service
• Structural change

In less than a decade, the Deloitte Touche Tohmatsu (DTT) organization has grown from being the smallest among the then Big 8 to one of the largest professional services organizations globally. The expected aggregate member firm revenue growth this year will be seen across the regions: the Americas and Europe/Middle East/Africa experiencing 10 percent aggregate growth each and Asia Pacific/Japan, with expansive growth in China, experiencing 15 percent aggregate growth.

The strategic decision for Deloitte member firms to keep their consulting capabilities is proving to be right, with 9 percent growth in aggregate firm consulting revenues in FY05.

Mr. Parrett said, "This is an indication that the consulting and advisory services are clearly part of the broader solution that businesses are looking for, and that this was the right strategic decision for Deloitte member firms.

"Deloitte's reputation for quality, particularly in audit, and excellence in service delivery in tax, consulting and financial advisory is clearly differentiating our member firms."

Mr. Parrett considers that in the future DTT leaders will view this week's meeting as one of the most defining moments in the organization's history. A new DTT vision and strategy is being developed and will be announced in the coming months.

For members of the media:
Downloadable, high resolution photo: Deloitte CEO William G. Parrett addresses the World Meeting audience in New York.

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.

As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names "Deloitte," "Deloitte & Touche," "Deloitte Touche Tohmatsu" or other related names.