United States

McGladrey Pullen LLP signs letter of intent to acquire RSM McGladrey Inc

NEWS RELEASE

BLOOMINGTON, MN McGladrey & Pullen, LLP, a licensed partner-owned CPA firm providing assurance services under the McGladrey brand, announced today that it has signed a letter of intent to acquire RSM McGladrey, Inc. including its employees, assets and infrastructure.

"The Board's objective is to reunite the assurance, tax and consulting practices under an integrated McGladrey & Pullen partnership structure," said Jerry Bourassa, Chairman of McGladrey & Pullen's Board of Directors. "The anticipated transaction will not impact the quality and timeliness of services to our clients. Our partners and employees remain focused on meeting and exceeding client expectations."

Since 1999, McGladrey & Pullen has operated under an alternative practice structure with RSM McGladrey, through which McGladrey & Pullen provided clients with public accounting services, and RSM McGladrey provided non-public accounting services, including most tax and consulting services.

"This is all about what we believe to be in the best interests of our clients, our employees and our partners. We see great opportunities for success and growth for McGladrey & Pullen as a firm reunited in a traditional partnership structure," said Joe Adams, Managing Partner of McGladrey & Pullen. "Our relationship with H&R Block has served us very well but we both agree that it is time to move on."

The final closing of the transaction is anticipated in the fall of 2011.

About McGladrey & Pullen, LLP and RSM McGladrey, Inc.
McGladrey & Pullen, LLP, is a licensed partner-owned CPA firm that provides audit and attest services. McGladrey & Pullen operates in an alternative practice structure with RSM McGladrey, a leading professional services firm providing tax and consulting services. Though separate and independent legal entities, they work together under the McGladrey brand to serve clients' business needs. Together the companies rank as the fifth largest U.S. provider of assurance, tax and consulting services with 7,000 employees in more than 80 offices. McGladrey & Pullen, LLP and RSM McGladrey, Inc. are each member firms of RSM International, a global affiliation of independent audit, tax and consulting firms.

CONTACT FOR MEDIA ONLY:

Terri Andrews
Director, National Public Relations

terri.andrews@mcgladrey.com
980.233.4710


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