NEW YORK, NY - January 7, 2008 "“ As part of Ernst & Young LLP's ongoing focus on the recruitment and retention of diverse professionals, the firm kicked off the Discover Tax leadership conference today in New York City. More than 100 ethnically diverse sophomores, juniors, and seniors from more than 50 college campuses across the U.S. - eighty percent of whom are Black or Hispanic - will attend the three day seminar, which is fully subsidized by Ernst & Young. Following the conference, all attendees will be eligible to interview for internships with the firm.

Over the past three years, Ernst & Young's tax practice has seen significant growth and, as a result, has increased campus hiring by more than 60 percent. Ernst & Young plans to hire more than 600 full-time college recruits for the U.S. tax practice this year and more than 3,000 recruits firm-wide throughout all practice areas in the Americas.

Historically, according to the AICPA, low numbers of ethnically diverse students have pursued master’s degrees in accounting or tax (five percent of students in these programs are Black or African American, and three percent are Hispanic). To ensure that Ernst & Young is able to recruit the best and brightest students "“ students that bring a wide range of diverse perspectives, background, and experience to the firm "“ the leadership within the tax practice launched the Discover Tax program in 2007. Now in its second year, the program has doubled in size to more than 100 participants.

"We have long recognized the importance of diversity and the role it plays in serving our global client base," noted Mark Weinberger, Ernst & Young's Americas Vice Chair - Tax Services. "In the first year of the Discover Tax program, we were able to increase the number of ethnically diverse interns in our tax practice by twenty percent. The program has helped us to expand our talent base and leverage the diversity of thought that comes from professionals with a wide range of backgrounds and perspectives."

The Discover Tax conference agenda includes a panel discussion among leaders in the tax profession, a leadership development session, fun networking activities such as a photo scavenger hunt in Grand Central Station, and dinner with key leaders from Ernst & Young's tax practice. The conference also includes an overview of Ernst & Young’s tax practice and a tour of the firm's Times Square headquarters. At the conclusion of the conference, Ernst & Young will be awarding book scholarships to all attendees and will be offering signing bonuses to those participants who join the firm’s tax practice full time.

"We know that minority students are often under-exposed to careers in accounting and, more specifically, careers in tax. We want to show the students that these fields offer exciting career paths with tremendous potential for growth and development," continued Christine Yamamoto, Ernst & Young’s Americas People Leader for Tax Services. "The Discover Tax program is about educating diverse students on what this profession is really like "“ and what a job at Ernst & Young has to offer."

Ernst & Young identified students to participate in the Discover Tax program through its strong relationships with affinity groups, faculty, and student organizations on campus, such as the National Association of Black Accountants (NABA), and the Association of Latino Professionals in Finance & Accounting (ALPFA), as well as national organizations including Management Leadership for Tomorrow and Hispanic College Fund. Students participating in the program have an average GPA of 3.5 or higher.

To view a short video about the Discover Tax program, visit http://www.ey.com/us/discovertax.

About Ernst & Young

Ernst & Young, a global leader in professional services, is committed to enhancing the public's trust in professional services firms and in the quality of financial reporting. Its 130,000 people in 140 countries pursue the highest levels of integrity, quality, and professionalism in providing a range of sophisticated services centered on our core competencies of auditing, accounting, tax, and transactions. Further information about Ernst & Young and its approach to a variety of business issues can be found at www.ey.com/perspectives. Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited does not provide services to clients. Ernst & Young LLP, a Delaware limited liability partnership, is a U.S. client-serving member firm of Ernst & Young Global Limited.

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