New York, April 9, 2007 – Shearman & Sterling has been chosen as the Panama Canal Authority's (ACP) international legal advisor for its expansion financing needs.  The firm will work with the ACP and its financial advisor to determine the most advantageous financing options for the ACP.  The ACP is the autonomous agency of the Government of Panama in charge of managing, operating and maintaining the Panama Canal.

"Shearman & Sterling distinguishes itself as a market leader in infrastructure financing," said ACP Engineering and Programs Management Director Jorge Quijano.  "Shearman & Sterling's project development and finance group enjoys a strong global reputation, especially in Latin America."

Panamanians voted on October 22, 2006, to expand the Canal.  The Expansion Program will create a third lane for transiting vessels and includes the construction of a new set of locks, which will double Canal capacity and allow for the passage of larger ships.