Deloitte Continues Record Growth for Seventh Year; 14.1% Increase Results From Commitment to Clients and Dedication to Global Strategy 17.2% Global Revenue Growth at Constant Exchange Rate NEW YORK, Jan. 4 /PRNewswire-AsiaNet/ -- Deloitte Touche Tohmatsu, the global professional services firm, announced today global annual revenues of U.S. $11.2 billion for the year ending May 31, 2000. The 14.1% increase in revenue over the previous year continues Deloitte's strong revenue growth for the seventh consecutive year. During the past fiscal year, Deloitte & Touche's practice grew by 15.4% and Deloitte Consulting's revenues increased by 11%. Global growth based on a constant exchange rate was 17.2%. Consistent with Deloitte's integration of national practices in June 2000, the firm's fiscal year-end changed to May 31 from August 31. The fiscal 2000 growth rate reflects disposal of business operations that were not consistent with Deloitte's business strategy. James E. Copeland, Jr., having recently completed his first fiscal year as global Chief Executive Officer, said, "Deloitte's growth is clear evidence that our global strategy, commitment to client service, and determination to remain a united, multidisciplinary organization are setting us apart as the profession's world class firm of choice. Achieving our financial and client service goals, coupled with the divestment of our competitors' intellectual capital, have put us in the best competitive position in Deloitte's long history. We're poised to become the second largest firm in the Big Five with excellent prospects of ultimately being the largest firm." Copeland said, "Deloitte continues to enjoy a tremendous competitive advantage by being able to provide solutions through our multidisciplinary approach to our growing list of global clients. We remain committed to a successful strategy of maintaining a multidisciplinary approach; one that provides the valuable synergy of consultative and audit services to provide unparalleled client service." Recent examples of this growth, based on excellent client service, include major engagements achieved with Long Term Credit Bank in Japan and Royal Bank of Scotland Group, one of the ten largest banks in Europe. A significant factor in the firm's continuing growth is successful human resources programs that are helping Deloitte win the war for talent. "Our strategies of attracting and retaining the best partners and employees enable us to serve as a source of intellectual capital for our clients," Copeland said. Recent achievements in this area include being the only Big Five firm named to Fortune magazine's list of 100 Best Companies to Work For in the U.S. for the fourth consecutive year, along with being named to Working Mother magazine's list of 100 Best Companies for the seventh consecutive year. Also, Deloitte in Australia, Spain, Canada, New Zealand, the United Kingdom, the Netherlands, and South Africa was named one of the best employers. During the past year, worldwide employment grew to 92,000. The firm's strong financial performance was also influenced by the continuing commitment to technology and e-business opportunities. Copeland said, "The potential of e-business is vast. Our strong results and prominent recognition show that we're leading the profession in e-business. We're helping our clients excel by helping them understand and use e-business to its full advantage. Recognition in this area includes Deloitte Consulting's being named a "Market Maker" for its ability to execute and completeness of vision as a consultant to e-business by GartnerGroup, Inc., and recipient of the Year 2000 Consulting Partner Award of Excellence in North America by Siebel Systems, Inc. Deloitte Touche Tohmatsu is one of the world's leading professional services firms, delivering world class assurance and advisory, tax, and consulting services through its national practices. Over 92,000 people in more than 130 countries serve approximately one-fifth of the world's largest companies as well as large national enterprises, public institutions, and successful fast-growing companies. Our consulting division, Deloitte Consulting, is one of the world's leading e-business consulting firms, providing services in all aspects of enterprise transformation, from strategy and processes to information technology and human resources. Our internationally experienced professionals strive to deliver seamless, consistent services wherever our clients operate. Our mission is to help our clients and our people excel. SOURCE: Deloitte Touche Tohmatsu CONTACT: Rick Hansen of Deloitte Touche Tohmatsu, 212-492-3746, [email protected] End.