Hro Lateral

PRESS RELEASE

Holme Roberts & Owen LLP 1700 Lincoln Street Suite 4100 Denver, CO 80203-4541

HOLME ROBERTS & OWEN EXPANDS WHITE COLLAR AND SECURITIES LITIGATION PRACTICE Nationally Acclaimed Litigators Cliff Stricklin and Michael MacPhail Join Denver Office

Denver, Colorado, July 7, 2009 – Holme Roberts & Owen LLP (HRO) is delighted to announce the admission of new partners Cliff Stricklin and Michael R. MacPhail, both formerly of Holland & Hart, and with their arrival, the expansion of HRO’s White Collar and Securities Litigation practice. Cliff Stricklin will chair the practice, which will focus on managing all phases of civil and criminal litigation cases at a state and federal level on behalf of client corporations and their officers and directors; it will complement the existing strengths of HRO’s corporate law and litigation groups, and further increase the broad range of legal services the firm offers. The expanded White Collar and Securities Litigation practice will form part of HRO’s wider Complex Commercial Litigation Practice Group, and will result in Cliff and Michael working alongside HRO’s existing team of highly experienced and prominent trial lawyers. Cliff Stricklin is a vastly experienced trial lawyer who has successfully tried some of the nation's largest, most complex cases as an attorney with the U.S. Department of Justice. For the last 20 years, he has as been at the forefront of shaping white collar and corporate fraud law in the U.S. Cliff Stricklin led the prosecution team in the insider trading case against Joseph P. Nacchio, a much publicized and complex case involving matters relating to securities regulation and the telecommunications industry. He has held prominent public service positions, including Special Assistant U.S. Attorney with the Enron Task Force, where he was a key member of the prosecution team that tried and convicted Jeff Skilling and Ken Lay on conspiracy, securities fraud, and insider trading charges. He has also held the position of First Assistant U.S. Attorney for the U.S. District of Colorado and State District Judge in Dallas, Texas. Michael R. MacPhail is a former Deputy Assistant Director of the Securities and Exchange Commission’s (SEC) Denver Regional Office and has previously served as an attorney and Senior Counsel for the Division of Enforcement in Washington, D.C. While at the SEC, he supervised enforcement investigations of, or litigated, a broad range of matters involving public company reporting and disclosure, investment companies and investment advisers, broker-dealer regulation and supervision, securities offering registration and exemption, Internet fraud, stock manipulation, and insider trading. Before joining the SEC, Michael R. MacPhail was a staff attorney with the Office of Chief Staff Counsel, U.S. Court of Appeals for the D.C. Circuit. Michael R. MacPhail has recently

Page 2 been elected to serve as the 2009-2011 Co-chair of the Colorado Bar Association Securities Law subsection of the Business Law Section. “To bring aboard lawyers of the caliber of Cliff and Michael is one of those rare opportunities for our clients and firm,” said HRO Managing Partner, Ken Lund. “Strategically, broadening our Securities and Litigation practice is something we have been looking to do for some time. Our expanded practice is now better positioned to serve our existing clients and develop new business.” Speaking of his appointment, Cliff Stricklin said: “HRO is a great platform for both Michael and me to help build a new and successful White Collar and Securities Litigation practice. We are joining a firm with a first-rate reputation for litigation, corporate/M&A and securities work, and an impressive client list that would be the envy of many of the nation’s largest firms. Our Denver location gives us an ideal base from which to serve clients across the country. I am excited about the possibilities that lie ahead.” Echoing Cliff’s sentiments, Michael R. MacPhail said: “I am delighted to be affiliated with HRO and to have an opportunity to continue to work alongside Cliff. We have formed a strong team, which will no doubt be of benefit to HRO’s clients for many years to come.” ###

About HRO - Holme Roberts & Owen LLP is an international law firm that was established in 1898 and has approximately 250 lawyers practicing in nine strategically positioned offices throughout the world, including Denver, Boulder, Colorado Springs, London, Los Angeles, Munich, Phoenix, Salt Lake City, and San Francisco. The firm's lawyers provide a broad spectrum of legal services in virtually every area of the law, including corporate, securities, mergers and acquisitions, estate planning, commercial litigation, real estate, sports and entertainment, health, employment, tax, government affairs, environmental, and intellectual property.

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