Press Release: Ernst & Young
August 21, 2002
NEW YORK, NY -- Ernst & Young LLP yesterday announced the creation of an Environmental Advisory Services practice
within its Real Estate Advisory Services group.
Brian Gilbert, a veteran environmental professional and engineer, was named to head the new practice, which will
be based in Chicago. Gilbert formerly helped lead the environmental services efforts at Arthur Andersen. Also joining
Gilbert in the new practice are former Andersen colleagues Greg Miller and Mike Williams. Combined, the team has
more than 50 years' experience in helping real estate and corporate clients control costs and manage risks associated
with environmental issues.
According to Mark Smith, Managing Partner of Ernst & Young's Real Estate Advisory Services (REAS) practice
(212/773-4990), creating an Environmental Advisory practice has been a major goal for the REAS group because of
the highly significant role played by environmental matters in all aspects of real estate, from development through
management and disposal. "The addition of Brian and his team provides a timely complement to our existing
experience in engineering, environmental science, environmental accounting and tax issues as well as real estate
and construction," Smith said. "This will provide clients with an even greater array of resources when
seeking to control costs and minimize risks."
"Environmental issues have the potential to create huge cost overruns for a corporation. By providing advisory
services attuned to the unique aspects of environmental issues we will help clients manage costs more efficiently,
avoid unnecessary cost overruns, reduce risk and better align their environmental and corporate goals," said
Brian Gilbert. "Clients are interested in reducing costs while holding steady or reducing risk. Some of the
more exciting opportunities exist in the areas of contaminated property portfolio management and pollution tax
credits."
Gilbert added that Environmental Advisory Services will help clients manage the interface where technical and financial
issues meet, such as enhancing the systems used to project and manage environmental remediation and construction
costs including those systems that are used to reflect environmental costs in the company's financial statements.
For more information regarding Ernst & Young's Environmental Advisory Services or to discuss how Ernst &
Young can help companies control costs and manage risk, contact Brian Gilbert at (312) 879-2464 or Brian.Gilbert@ey.com,
or Greg Miller at (312) 879-2462 or Greg.Miller@ey.com.
About Ernst & Young's Real Estate Advisory Services
Through its Real Estate Advisory Services practice, a professional services industry leader, Ernst & Young
delivers advisory services to users, owners, operators, investors, builders, and developers of real estate. We
offer strategic advantages to clients: we ensure independent objective real estate advice and counsel; we deliver
knowledge of industry best practices and we bring world-class analytical and process-based methodologies to bear
upon corporate issues. We also help our clients achieve superior results by assisting them in aligning real estate
holdings and operations with business and operating strategies. Discover more about Ernst & Young's Real Estate
Advisory Services at our U.S. Web site of www.ey.com/us/reas or our global
Web site of www.ey.com/reas.
About Ernst & Young:
Ernst & Young, a global leader in professional services, understands the business issues that are important
to senior executives. With extensive business knowledge and hands-on industry experience, the global Ernst &
Young organization can implement a broad array of solutions to help companies capture growth, improve financial
performance and manage risk--anywhere in the world. Its 84,000 people serve as trusted business advisers in more
than 130 countries, offering audit, tax, corporate finance and transaction services across all industries to many
of today's leading global corporations as well as emerging growth companies. In addition, legal services are available
in various parts of the world where permitted. A collection of Ernst & Young's views on a variety of business
issues can be found at www.ey.com/thoughtcenter. (Ernst & Young
refers to all members of the global Ernst & Young organization, including the U.S. firm of Ernst & Young
LLP.)
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Contact:
E&Y Environmental Advisory Services
Brian Gilbert, 312/879-2464
Greg Miller, 312/879-2462
or
Gallen.Neilly & Associates
Andrew Neilly, 925/930-9848 or 925/595-1356