December 17, 1998

Lila White
(804) 692-3110

Joe Conway
Towers Perrin
(914) 745-4175
Jill Lawrence
(804) 371-0049
Towers Perrin Selects Chesapeake for National Center
-Governor Gilmore announces 1,000 new jobs for Hampton Roads -

Richmond - Governor Jim Gilmore today announced that Towers Perrin, one of the world's largest management and benefits consulting firms, will locate a $33 million facility in the City of Chesapeake. The facility will serve as the firm's newest National Employee Benefits Center (NEBC), a high-tech benefits administration facility scheduled to open in the summer of 1999. Towers Perrin will create over 1,000 jobs in Hampton Roads at the world-class facility.

"Today is a great day for Towers Perrin and the Commonwealth of Virginia," said Governor Gilmore. "This project not only brings a significant capital investment, but 1,000 additional job opportunities with excellent wages for the people of Hampton Roads. The company's commitment to technology advancement will complement our proactive stance on information technology."

"We are committed to making this facility an important addition to the city of Chesapeake where we will be hiring from its skilled workforce and calling on many of the excellent resources here to carry out our work in benefits administration," said Marvin H. Greene, Managing Director of Towers Perrin's Administration and Operations. "We thank Governor Gilmore for his support and the resources his team has provided throughout this project."

A world leader in management consulting, Towers Perrin helps organizations improve performance and manage their investment in people, advising them on human resource strategy and management, organizational effectiveness, compensation and benefits communications. The firm has more than 8,100 employees and 79 offices in 72 cities worldwide.

"These new employment opportunities will continue to help diversify the Hampton Roads economy," said Secretary of Commerce and Trade Barry E. DuVal. "We welcome Towers Perrin as Virginia's newest corporate citizen."

The NEBC in Chesapeake will serve clients across the United States and offer a full range of integrated administration solutions to manage employer health and welfare plans, retirement plans, including both defined benefit and defined contribution, as well as general human resource program outsourcing. It joins the Towers Perrin's other NEBC facilities in Australia, Canada, Europe, and the United States. The company was recently cited by Information Week magazine as the fifth most technologically advanced company in the professional services industry.

"Chesapeake continues to attract Fortune 500 and global companies that create job opportunities for all the citizens of Hampton Roads," said Chesapeake Mayor William E. Ward. "This Towers Perrin announcement is the perfect holiday gift for Chesapeake and the region."

Governor Gilmore approved a grant from the Governor's Opportunity Fund in the amount of $600,000 to assist Chesapeake with site preparation. The Virginia Economic Development Partnership, the Hampton Roads Economic Development Alliance and the City of Chesapeake assisted the company with its decision. The Virginia Department of Business Assistance will provide workforce training services.

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