Press Release: Heller Financial, Inc.
October 3, 2001
MINNEAPOLIS, MN -- Heller Financial, Inc. (NYSE:HF), a leading provider of commercial finance products and services,
Sept. 27 announced that the company has entered into a strategic agreement with Commercial Law Affiliates for its
legal service needs in the United States and Canada.
Under the agreement, Heller will designate Commercial Law Affiliates' (CLA) member firms as preferred providers
of local counsel services in order to supplement and work in concert with Heller's primary partnering law firms.
CLA, a worldwide nonprofit group of business law firms, will also provide legal counsel and services for Heller
in selected international markets when needed.
By redirecting its local counsel needs to CLA's network, Heller expects to achieve significant efficiencies from
a more coordinated use of outside local counsel without sacrificing quality of service. Heller currently uses more
than 200 separate law firms annually for its local counsel needs.
``We believe that CLA's focus and philosophy is aligned with our partnering goal of efficiently delivering quality
legal services to our business units and their clients,'' said Mary Alden, Heller's director of the CLA Partnering
Program. ``In addition, CLA's extensive domestic and international network means we have coverage in any location
where Heller requires legal services. Furthermore, CLA's rigorous quality control system provides assurance that
CLA member firms will be responsive to our clients' needs.''
``This agreement reflects the growing interest that corporations have in developing efficient assistance with their
legal needs in multiple locations,'' said Wendy Horn, CLA president. ``CLA provides Heller with a coordinated,
unified and cost-efficient solution to meet its legal counsel needs, while retaining the highest caliber and quality
of legal representation. We will also provide Heller with evaluation records on members and a searchable database
of information on each CLA lawyer. These resources aren't available from other law firms or networks.''
Heller Financial, Inc. is a worldwide commercial finance company providing a broad range of sophisticated financing
solutions. With nearly $20 billion in total assets, Heller offers equipment financing and leasing, sales finance
programs, cash flow and collateral-based financing, financing for healthcare companies and financing for commercial
real estate. Heller also offers trade finance, factoring, asset-based lending, leasing and vendor finance products,
and programs to clients in Europe, Asia, and Latin America. Heller's common stock is listed as ``HF'' on the New
York and Chicago Stock Exchanges. Heller can be found on the World Wide Web at http://www.hellerfinancial.com.
Headquartered in Minneapolis, Minnesota, the over 200 closely integrated member law firms of CLA provide business
clients worldwide access to comprehensive legal advice and exceptional service. Membership in CLA is by invitation
only. In order for firms to maintain their membership in CLA, they must adhere to its specific client service standards
and rigorous membership requirements. This allows clients using CLA firms the comfort of knowing that their legal
work will be handled reliably and consistently around the world. CLA's Web site can be accessed at http://www.claonline.org
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Contact:
Heller Financial, Inc.
Mary Alden, 818/409-1881
malden@hellerfin.com
or
Commercial Law Affiliates
Cheryl Siemering, 612) 339-8680
csiemering@claonline.org