Jonathan B. Stone — Partner at Skadden, Arps, Slate, Meagher & Flom

Mr. Jonathan B. Stone is a Partner at Skadden, Arps, Slate, Meagher & Flom, L.L.P. He represents issuers and investment banks in a variety of corporate finance transactions, including SEC-registered offerings and Rule 144A and Regulation S transactions. He also represents acquirors and target companies in cross-border merger and acquisition transactions and financial investors in private equity transactions. Mr. Stone has worked on transactions in a wide range of industries, including banking and financial services, gaming, insurance, manufacturing, oil and gas, power, real estate, technology, telecommunications and utilities. Recently, Mr. Stone represented PT Telekomunikasi Indonesia Tbk, Indonesia's leading telecommunications provider, in a series of acquisition and sale transactions valued at more than US$1.5 billion. The transactions were awarded Finance Asia's 'Most Innovative M&A Deal' award for 2001. He also represented Korea Deposit Insurance Corporation in its US$685 million sale of 51 percent of Korea Life Insurance, Korea's second-largest life insurer and Korea Electric Power Corporation in its US$682 million sale of 45.5 percent of Powercomm Corporation. Mr. Stone has represented Citigroup Inc. in a major cross-border acquisition in Asia, as well as Telekom Malaysia Bhd., Malaysia's largest telecommunications provider, in a substantial acquisition transaction. He also represented Indonesian Bank Restructuring Agency (IBRA) in its US$551 million sale of 51 percent of PT. Bank Central Asia Tbk. and SK Corporation and its wholly owned subsidiary SK Evertec Co., Ltd., in the sale of their Korean petrochemical business to BASF AG for US$158 million. Mr. Stone also represented Quality Semiconductor Inc. in its acquisition of AWA Limited's semiconductor operations and Blockbuster Entertainment Corporation in certain aspects of the worldwide dissolution of the Blockbuster/Virgin Music joint venture. Mr. Stone's corporate finance experience has included transactions covering the broadest spectrum of securities and financial products. Recently, he represented SK Corporation, SK Global Co., Ltd. and SK Telecom Co., Ltd. in an offering through a special purpose vehicle of US$1.25 billion of guaranteed exchangeable notes, exchangeable into SK Telecom ADRs and in a concurrent US$431 million U.S.-registered global secondary offering of ADRs of SK Telecom. These transactions won Finance Asia's 'Most Innovative Equity Deal' award for 2002, International Financial Law Review's 'Asian Debt and Equity-linked Deal of the Year' award for 2002 and Asiamoney's 'Equity-linked Deal of the Year' award for 2002. Mr. Stone also represented the underwriters in the US$2.2 billion registered ADR offering and NYSE listing by Korea Telecom, the largest ADR offering by an Asian company and Finance Asia's 'ADR Offering of the Year' in 2001. Mr. Stone has represented issuers and underwriters in numerous other U.S-registered offerings, including priceline.com Incorporated in its US$160 million initial public offering and Nasdaq listing and its US$346 million 'follow-on' equity offering; Internet Gold-Golden Lines Ltd., Israel's leading Internet service provider, in its U.S. initial public offering; the underwriters in the US$300 million global initial public offering and dual listing of Sunday Communications Limited; and the underwriters in several U.S.-registered offerings and the New York Stock Exchange listing of United Rentals, Inc., the largest U.S. equipment rental company. Mr. Stone regularly works on significant Rule 144A and Regulation S offerings of debt, equity and hybrid securities. He represented the underwriters in the US$700 million initial public offering and privatization of Petroleum Authority of Thailand, Finance Asia's 'IPO of the Year' in 2001. He also represented Aptech Limited, India's largest training and education company, in its Rule 144A and Regulation S offering of GDRs and its London Stock Exchange listing. Mr. Stone has substantial experience representing issuers and underwriters of high-yield and investment grade debt. Recently, he represented the underwriters in a US$300 million offering of high-yield notes by Philippine Long Distance Telephone Company Co., Ltd. He also represented the underwriters in an offering by Hong Kong's ASAT Group of US$151 million of units comprised of senior notes and warrants. This offering provided financing for the leveraged buyout of ASAT and was the first Asian LBO financed by a U.S.-style high-yield debt transaction. Mr. Stone also represented Aladdin Gaming Holdings LLC and Aladdin Enterprises, Inc. in their US$115 million offering of units comprised of senior discount notes and warrants. He also represented LGT Asset Management, Inc. and LGT Bank in Liechtenstein AG in a US$250 million offering of two tranches of senior notes, the underwriters in a US$300 million offering of guaranteed bonds by Jardine Strategic Holdings Limited and the underwriters in a US$200 million offering of senior subordinated notes by United Rentals, Inc. Mr. Stone has extensive experience advising issuers and underwriters in offerings of sophisticated hybrid financial products. He represented the Brazilian government's principal investment vehicle, BNDESPAR, in the first-ever offering of cross-border DECS (dividend enhanced convertible securities), convertible into ADRs of Eletrobras, Brazil's leading electricity provider, as part of the privatization of Eletrobras. He also represented American Express Credit Corporation in a US$150 million registered offering of cash exchangeable equity-linked notes, MCN Energy Group, Inc. in two offerings of remarketed reset securities, the underwriters in a US$650 million offering of TOPrS (trust originated preferred securities) by Xerox Corporation and the underwriters in a US$300 million offering of convertible QUIPS (quarterly income preferred securities) by United Rentals, Inc. Prior to moving to Hong Kong, Mr. Stone was based in Skadden's New York office for several years.