Beijing, June 7, 2004 — Shearman & Sterling is expanding its reach in Asia by establishing a dedicated International Arbitration team in its Beijing office.

Recent sustained growth in cross-border investment and trade involving China has led to a rise in the number of China-related international disputes. Many of these are resolved by international arbitration, either in or outside China. In addition, China has signed or ratified up to 71 bilateral investment treaties, which offer both investors in China and Chinese investors abroad the opportunity to enforce investment protections through international arbitration.

Shearman & Sterling has a market leading International Arbitration practice. The group comprises some 60 lawyers working out of the firm's offices in Abu Dhabi, Beijing, Frankfurt, London, New York, Paris, Singapore and Washington, D.C. The firm's arbitration lawyers represent clients in proceedings throughout the world and have been involved in arbitrations held under 62 governing laws.

The firm's commitment to Asia is an integral part of its long-term strategy to provide clients with high quality legal services around the world. Shearman & Sterling has been active in China since 1979. When the Beijing office opened in 1993, Shearman & Sterling was one of the first law firms to be granted a license by the Ministry of Justice in China.