May 15, 2002

Alston & Bird Elects Thatcher A. Stone Partner in New York Office; Pioneer in the Use of Residual Value and Other Insurance Products

Alston & Bird announces that Thatcher A. Stone has joined the firm as a partner in the New York office, practicing with the Capital Markets, International and Leveraged Capital teams.

Stone has 20 years of broad experience in the aviation industry and has been cited by both the International Air Transport Association and Euromoney as one of the world’s leading aviation lawyers. A corporate and securities lawyer, he pioneered the use of residual value and other insurance products to wrap Rule 144A debt offerings in order to obtain investment grade ratings.

“Thatcher’s election as a partner represents another step in Alston & Bird’s goal of broadening and deepening our New York practice, adding a significant niche practice with an important global dimension,” said Mark F. McElreath, Co-Leader of the Northeast Capital Markets Group. “Thatcher’s practice not only will complement our existing structured finance practice but also presents significant opportunities for synergies with our Leveraged Capital, Financial Services, and International practices.”

Formerly a partner at KMZ Rosenman in New York, Stone has represented financial institutions and borrowers in the public and rated securitization of debt in leveraged lease, equipment finance transactions and securitization of airline ticket receivables. At
Alston & Bird, he will provide counsel on a broad range of general issues facing the banking, securities and equipment finance industries, including political risk and other forms of insurance, federal regulations, corporate restructurings for limited liability, and the federal securities law. Stone represents lessees, lessors, financial institutions and export credit agencies in the financing of rail, aircraft, telecommunications, real estate, infrastructure and power projects with cross-border tax leases, U.S. leveraged leases, debt or export credit support.

Stone is a member of the Legal Advisory Panel to the Aviation Working Group, which includes Airbus, Boeing, GE, Rolls Royce and others, which is annotating the Cape Town Convention, a new international aircraft mortgage convention. He has written and spoken widely on the subject of aviation law and is an adjunct member of the faculty at the University of Virginia School of Law.

Along with Stone, Matthew J. Dundon, also formerly of KMZ Rosenman, is joining
Alston & Bird as an associate. He is admitted to both the New York and Massachusetts bars. His practice focuses on international aviation finance, financing and strategic transactions of growth companies (particularly in the technology and insurance industries), and technology and media licensing and services.

Thatcher may be reached in New York at 212-210-9538 or tstone@alston.com.

Media Contact
Nicholas Clarke
Senior Communications Manager
Phone: 212.210.1222
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