Accounting, Tax and Business Advisory Firm Reznick Group Will Expand its Presence in the Greater Washington, DC Area by Opening an Office in Northern Virginia

FOR IMMEDIATE RELEASE

CONTACT:
Suzanne Gallagher Bouhia
Reznick Group
(301) 280-3634
suzanne.bouhia@reznickgroup.com

BETHESDA, MD (July 25, 2005) – Reznick Group, an accounting, tax and business advisory firm ranked among the top 20 firms in the nation, today announced plans to expand its presence in the Greater Washington, DC region by opening an office in northern Virginia. Reznick Group has an established history in the Washington, DC area. Founded in Washington, DC in 1977, the firm currently has approximately 500 employees in its Bethesda, Maryland headquarters and 900 people nationally. Reznick Group is the largest CPA firm headquartered in the mid-Atlantic area and the largest non-“Big Four” firm with offices in the Greater Washington, DC area.

The transfer of resources will include approximately 20-25 professionals, including one principal. Approximately 10 new employees will be hired from the Greater Washington, DC area and significant growth is anticipated in the coming years to staff the new office. Reznick Group is currently working to identify space in the Tysons Corner area of northern Virginia. The firm intends to move into the new office on or before November 1, 2005 and is currently seeking about 7,500 square feet of office space with room to expand as the office grows.

“Establishing a physical presence in northern Virginia is an important and natural move for Reznick Group,” said Firm Managing Principal Kenneth E. Baggett. “Northern Virginia has an extremely vibrant business community, we have clients there and many of our employees live there. For years, Reznick Group professionals have been actively involved in the community through our client work and community and trade group involvement. We are excited about this move and the opportunities it will present,” said Baggett.

The northern Virginia office will offer full Reznick Group service capabilities providing accounting, tax and business advisory services to a variety of industries including technology, real estate, manufacturing/distribution and professional services. In addition to its Bethesda, Maryland headquarters, Reznick Group also has offices in Atlanta, Georgia; Baltimore, Maryland; Charlotte, North Carolina; Chicago, Illinois; and Sacramento, California. Reznick Group uniquely maximizes its resources to provide services to clients nationwide while maintaining a strong regional focus.

Reznick Group Principal Alex Castelli will transfer from the firm’s Bethesda office and serve as the principal-in-charge of the northern Virginia office with overall responsibility for profitability, business development and operations. Castelli has been with Reznick Group for 12 years and a principal for eight years providing audit and accounting services for privately-held and publicly-traded companies. Castelli is active in the northern Virginia business community. He holds a bachelor’s degree in accounting from Washington and Lee University.

“I am thrilled to have the opportunity to lead our northern Virginia-based practice. Having a physical presence in the Tysons Corner area will allow us to better serve our local clients and expand our reach and recruiting opportunities in the area,” Principal Alex Castelli said. “Our Bethesda-based employees, who live and serve clients in northern Virginia, will have the opportunity to temporarily work in the northern Virginia office or use it for client and staff meetings. Having a broad presence in the area that reaches from northern Virginia to Bethesda to Baltimore further solidifies our commitment to the Greater Washington, DC area,” Castelli added.

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About Reznick Group

A national leader in providing accounting, tax and business advisory services, Reznick Group serves clients in a broad spectrum of industries. Headquartered in Bethesda, Maryland; Reznick Group has offices in Atlanta, Georgia; Baltimore, Maryland; Charlotte, North Carolina; Chicago, Illinois; and Sacramento, California. The firm has grown from six employees when it was founded in 1977 to approximately 900 today. Reznick Group currently serves clients in industries including real estate, nonprofit, government, healthcare, and emerging and commercial business. Reznick Group uniquely maximizes its resources to provide services to clients nationwide while maintaining a strong regional focus. Reznick Group is a Certified Public Accounting firm and a Professional Corporation.

To learn more about our services, seminars and conferences, or to view our insights on issues that impact your industry, visit www.reznickgroup.com.

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