Bessemer Trust Names New Executive in Atlanta; William I. Rau Joins Wealth Management Firm.

Business Editors

ATLANTA--(BUSINESS WIRE)--July 9, 2001

Bessemer Trust Company N.A., a leading wealth management and investment advisory firm, announced the appointment of William I. Rau as a Principal in its Atlanta office.

"Atlanta is one of the fastest growing

markets in wealth management, where many individuals and wealthy families have prospered with the dynamic growth of this young city," said Robert C. Elliot Senior Managing Director of Bessemer. "With this rapid growth in the Southeast, many individuals are facing issues of wealth management, estate planning, and charitable giving for the first time. Bessemer, with its office in Atlanta since 1999, is uniquely positioned to provide a wide range of personalized services, including asset management, tax, estate, and philanthropic counsel. In order to meet the needs of the rapid growth in Atlanta, we are pleased that Bill Rau, who is very experienced in wealth management business in Atlanta, will be joining our Bessemer team."

Bessemer Trust, a leader in wealth management since 1907, specializes in providing investment counsel and services for individuals with a net worth of $10 million or more. Mr. Rau will be responsible for new business and client development in Southeastern States. In addition to servicing the Atlanta market, the office also provides wealth management services in the region, including Charlotte, Nashville, Memphis, and Savannah.

A graduate of University of Virginia, Mr. Rau holds an MBA from the Columbia University Graduate School of Business. Prior to joining Bessemer Trust, Mr. Rau was Vice Chairman of GMA Partners, Inc., an investment management and investment banking firm in Atlanta. Previously, Mr. Rau spent 26 years as a corporate and investment banker with Continental Bank and Bank of America. From 1993 to 1999, he was Senior Managing Director and Southwest Regional Manager for Bank of America in Atlanta. Mr. Rau is also and active member of the Wilmer Advisory Council at Johns Hopkins University as well as a member of the National Firms Committee of the Woodruff Arts Center in Atlanta. In 1997, Mr. Rau received the Charles R. Yates Award for Philanthropic Leadership.

About Bessemer Trust

Bessemer Trust Company is a unique wealth management and investment advisory firm that has provided wealth management solutions to high-net-worth individuals and select institutions for more than 90 years. The firm supervises assets in excess of $40 billion, and provides a wide range of services including asset management, tax and estate planning, fiduciary counseling, family business planning, and targeted philanthropy. Headquartered in New York City, Bessemer also services clients from offices in Palm Beach, Miami, and Naples FL; San Francisco, Menlo Park and Los Angeles, CA; Washington, D.C.; Chicago, IL; Atlanta, GA; Dallas, TX; Woodbridge, NJ; London, England; and the Cayman Islands. For more information on Bessemer Trust Company, please visit www.bessemer.com.