Ernst & Young Selects John Loffredo for National Tax - Global Tax Operate, Auto Industry Leadership Role

    DETROIT, May 30 Ernst & Young LLP today announced John L.
Loffredo has been appointed to a key tax leadership role in the firm's Global
Automotive Practice located in Detroit.  Loffredo will also focus on the
Global Tax Operate business, which offers tax process solutions and provides
outsourcing capabilities to clients.
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    Loffredo brings more than 30 years of diverse tax experience in the
automotive industry to his new position at Ernst & Young.  Most recently, he
served as Vice President and Chief Tax Counsel responsible for managing the
tax activities of the North American operations of DaimlerChrysler
Corporation.  He previously managed the Tax Affairs Department at Chrysler and
worked in tax-planning and tax counsel leadership roles at General Motors.
    "John's background in tax and his extensive knowledge of the automotive
industry will further enhance our skill set in the Detroit market and on a
national level," said Steve Hidalgo, Director Global Tax Operate for Ernst &
Young.  "His experience is unrivaled and we're pleased to have him join us."
    A native of Stamford, Connecticut, Loffredo holds a LLM in Taxation from
New York University School of Law, a JD degree from the University of
Connecticut School of Law, and a BS degree in Economics from Villanova
University.
    Ernst & Young, a global leader in professional services, helps clients to
quickly and confidently make financial decisions designed to enhance value.
Its 77,000 people in more than 130 countries have the industry and financial
experience to provide fresh perspectives on operating in the new economy.
Ernst & Young offers traditional audit and tax services, as well as customized
services in corporate finance, online security, risk management, the valuation
of intangibles and e-business acceleration.  In addition, legal services are
available in various parts of the world where permitted.  A collection of
Ernst & Young's latest ideas on the new economy can be found at
http://www.ey.com/thoughtcenter .
    Ernst & Young refers to the U.S. firm of Ernst & Young LLP and other
members of the global Ernst & Young organization.

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