New York Office Director to Step Down

Washington, DC, Apr. 6, 2006

Esslie W. Hughes, director of the New York office of the Public Company Accounting Oversight Board, has informed the Board that she intends to leave the PCAOB to pursue new career opportunities.

"The past two and a half years have been exciting and rewarding," Ms. Hughes said. "It has been gratifying to be a part of the building of the PCAOB organization, from almost its inception. It was a pleasure to work with outstanding colleagues and to have had the opportunity to engage in constructive dialogue with many financial market participants about the PCAOB’s mission and objectives."

Ms. Hughes joined the PCAOB in her current position in 2003, having previously had a 20-year career in commercial banking, primarily at The Bank of New York. Ms. Hughes will leave on May 8, 2006.