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Thomas R Nides named CEO of Burson Marsteller

19 October, 2004

Young & Rubicam Brands announced today that Thomas R. Nides will become Worldwide President and Chief Executive Officer of Burson-Marsteller, the leading global public relations and public affairs firm, effective November 8. He succeeds Christopher P.A. Komisarjevsky, who has announced his plan to retire effective at the end of the year, after 10 years with the company, the last six of which as Worldwide President and CEO. Mr. Nides and Mr. Komisarjevsky will work together for a period of time to ensure a smooth transition of leadership for Burson-Marsteller and its clients.

"Tom is an outstanding communications professional with a superb track record of leadership in global organizations," said Ann Fudge, Chairman and CEO of Young & Rubicam Brands, the parent of Burson-Marsteller. "At Credit Suisse First Boston he was a key member of the senior management team that achieved the firm’s dramatic turnaround. He recruited world-class talent, served as a trusted adviser to clients and helped set strategic direction for the firm. Tom is a dynamic, hands-on leader with exceptional people skills, who is both a proven business leader and a talented practitioner of strategic communications. As the economy continues to improve, he will provide the leadership necessary to further build the Burson-Marsteller brand and continue the progress the company has made in collaborating with all of the Young & Rubicam Brands companies."

Mr. Nides, 43, has extensive experience as a senior corporate executive as well as in the practice of corporate and financial communications, marketing, public relations, media relations, crisis management and public affairs. Most recently, he served as Global Chief Administrative Officer of Credit Suisse First Boston, the New York-based investment bank, where he managed 2,000 employees worldwide, overseeing corporate communications, government relations, advertising, marketing, human resources, philanthropy and other administrative functions. Prior to working at CSFB, Mr. Nides was a Senior Vice President and member of the Operating Committee at Fannie Mae, the large financial services company. He was involved in all major strategic decisions at the company and ran many of the administrative functions of the business, including Human

Capital. Mr. Nides previously served as a Principal with Morgan Stanley, the New Yorkbased global investment bank, where he was in charge of global communications, marketing, government relations and philanthropy. He earlier served as Chief of Staff to the U.S. Trade Representative, where he worked closely with many large American and multinational corporations. This followed eight years on Capitol Hill, including four years as Executive Assistant to the Speaker of the House of Representatives. "Burson-Marsteller is a powerful global brand with great potential - it has many worldclass people serving some of the finest companies as clients," Mr. Nides said. "I’ve spent much of my career working at professional services firms intensely committed to client service. I look forward to bringing that experience to Burson-Marsteller and working with the talented people there on innovative ways to further enhance service to our clients. I also look forward to leverage ing the opportunities for Burson-Marsteller to work with sister companies both at Young & Rubicam Brands and at WPP."

Ann Fudge said, "We are grateful to Chris for the tremendous commitment and many contributions that he has made to our company over the past decade. Under his leadership, Burson-Marsteller continued to build its global network, leverage its tremendous intellectual property and, as a result, deliver superior value to its clients."

Harold Burson said, "Chris Komisarjevsky has served Burson-Marsteller well, enhancing our global reputation by instilling a strong work ethic and the delivery of gold standard service to our clients. I know that hundreds of Burson-Marsteller employees in 35 countries on five continents join me in thanking him for his commitment and passion for our business from the time he joined us 10 years ago, the past six as Chief Executive Officer. We all wish him well."

Mr. Komisarjevsky said, "Burson-Marsteller is a remarkable company with a deep and broad management team. The brand is strong. Client service is high. Awards from the industry tell us that and so do our clients. We are a very special company with deep, global client relationships and a role in the industry as a thought-leader. I am very proud to have worked with so many outstanding talented professionals and to have been part of the success we have had of late. I believe I leave the company in great shape. I am sure Tom will bring a new approach and new ideas, calling on his experience in industry and public service."

Mr. Komisarjevsky, 59, joined Burson-Marsteller in 1995, and became Worldwide President and CEO in 1998. Prior to assuming that worldwide leadership role, he was president and CEO of Burson-Marsteller’s US operations.

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