Chicago, June 4, 2003.  The law firm of Kirkland & Ellis announced that it represents GTCR Golder Rauner, LLC (GTCR), a leading private equity firm, in connection with its proposal to acquire ownership of the American Stock Exchange, LLC (Amex) from the National Association of Securities Dealers, Inc. (NASD).  GTCR recently announced that it entered into a letter of intent with the NASD to acquire the Amex in a transaction valued at approximately $110 million.  Closing is anticipated following the completion of definitive documentation and receipt of approvals from various parties, including the Securities and Exchange Commission. The transaction is being managed by Kirkland & Ellis corporate attorneys Stephen L. Ritchie, Norbert B. Knapke II and Jamie L. Mignon; William R. Welke and Kevin J. Coenen are providing tax advice; Gregory E. Spitzer, Nathaniel M. Marrs and Brian E. Davis are providing real estate advice; Alexandra Mihalas and Jeffrey S. Quinn are advising GTCR on employee benefits matters; and Neil S. Hirshman, Rashmi Chandra and Krista L. Nunemaker are handling the intellectual property issues.  All of the attorneys on the deal work in the firm’s Chicago office. The American Stock Exchange has been a pioneer in market innovation for more than a century.  As the nation's most diversified financial marketplace, the Amex is the only primary exchange that offers trading across a full range of equities, options and exchange traded funds through an advanced centralized specialist system. Kirkland & Ellis is a 900-attorney law firm representing global clients in complex corporate and tax, workout, insolvency and bankruptcy, litigation, dispute resolution and arbitration, and intellectual property and technology matters.  The Firm has offices in New York, Chicago, Los Angeles, London, San Francisco and Washington.