<p><em>Project Finance</em>'s Deals
of the Year</p>

Project Finance's Deals of the Year

The financing of a new Yankee Stadium, through the issuance of bonds by the New York City Industrial Development Agency, was named 2006 Deal of the Year: North American Leisure by Project Finance magazine. Fried Frank represented the New York Yankees in the financing and development of a new Yankee Stadium in the Bronx. The matter, which closed on August 22, 2006, represented a year and half effort at the Firm, which included all public approvals required for the project, leasing of the site of the new Stadium from the City of New York and a US$960m tax-exempt bond issue by the New York City Industrial Development Agency for financing the construction of the Stadium, expected to open in time for the 2009 baseball season.

The Fried Frank team included real estate partners Stephen A. Lefkowitz and Melanie Meyers and corporate partners Arthur S. Kaufman and Emil Buchman.