Glass Lewis To Acquire Washington Analysis


We expect that insight into upcoming changes in US government policy and legislation, and the impact this will have on businesses, will be among the most in-demand forms of research over the next few years. The market’s ecstatic reaction to the Tim Geithner nomination to the post of Treasury Secretary today seems to prove that investors perceive a great deal to be at stake here. The injection of public funds into financial and other companies will mean that Washington will loom larger in investors’ mindsets than at any time in recent memory. As such, this acquisition by Glass Lewis, news of which recently arrived in our inbox, appears to be exceptionally well timed:

SAN FRANCISCO (Nov. 19, 2008) – Glass, Lewis & Co. today announced it
has signed a definitive agreement to acquire Washington Analysis Corporation,
a top-rated political and economic advisory firm based in Washington, D.C.
Founded in 1973, Washington Analysis anticipates and analyzes the impact of
political, legislative and regulatory developments on the financial markets. The
firm’s senior analysts are renowned for their sector expertise – including defense,
energy, financial services, healthcare, media and telecommunications – and indepth
knowledge of geo-politics and political economics, including fiscal,
monetary and trade policy.

“More than ever, investors are looking for unique insight into the risks within their
portfolios,” said Katherine Rabin, chief executive officer of Glass Lewis. “The
combination of Glass Lewis and Washington Analysis will enable institutions to
have an unparalleled, comprehensive understanding of the risks at public
companies – including business, governance, accounting, legal and political

Dr. Leslie Alperstein, who has led Washington Analysis since its inception, will
continue to lead the research firm. Dr. Alperstein served as executive managing
director and director of research at HSBC Securities Inc. and director of
investment research for NatWest Securities, Prudential Securities, Shields Model
Roland and Legg Mason & Co. He is a member of the National Association of
Business Economists, the National Economists Club and the Washington CFA

“We are very excited to be joining the Glass Lewis Group,” said Dr. Alperstein.
“Together our firms can provide institutions worldwide with powerful investment
and risk management tools at a historic time for the capital markets.”

The agreement to acquire Washington Analysis is with Xinhua Finance Limited of
Shanghai and is subject to certain closing conditions. The transaction is expected
to close by the end of the quarter, at which time Washington Analysis will
become a wholly-owned subsidiary of Glass Lewis.


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