Marks Paneth & Shron LLP, Leading New York Area Accounting Firm, Merges With Montalto CPA, LLC

NEW YORK, NY--(Marketwire - April 15, 2009) - Marks Paneth & Shron LLP (MP&S), a leading New York-area accounting firm with nearly 500 people, approximately 70 of whom are partners and principals, announced today that it has merged with Westchester-based accounting firm Montalto CPA, LLC. The merger expands MP&S's tax and family office and business management services offered to small businesses and high-net-worth individuals in Westchester County, the northern suburbs and Connecticut. A partner, Anthony V. Montalto, CPA, 64, one senior tax manager, Lucille Murray, 53, and four supporting staff members will join the MP&S Tarrytown, New York office.

Said Arthur E. Cannata, CPA and Mark Levenfus, CPA, managing partners of Marks Paneth & Shron, "Expanding the firm's Tax and Family Office and Business Management Groups in our Westchester office allows us to be more focused in the services we provide that market and its surrounding areas. We are excited to welcome Tony, Lucille and their team to Marks Paneth & Shron and value the strength they will lend to our firm's tax and family office and business management practices."

Montalto CPA, LLC is the successor firm to Montalto & Company, LLP that was established in New York in 1970. In its nearly forty years operating in New York, the firm has specialized in providing tax preparation and compliance, as well as family office and business management services to over 350 businesses, service organizations, not-for-profit organizations and individual clients.

New MP&S Partner and Senior Tax Manager

Anthony V. Montalto, CPA, Partner
Anthony V. Montalto, CPA served as the managing member of Montalto CPA, LLC where he spent 38 years establishing and building the firm's practices in Westchester County and in Stamford, Connecticut before merging Montalto CPA, LLC with Marks Paneth and Shron in 2009. He brings to MP&S more than 40 years of experience in general accounting, review and compilation, consulting and tax advisory services. Mr. Montalto has worked extensively with high-net-worth individuals, companies in the construction, food importing and distribution, entertainment and personal service industries, as well as municipalities and private foundations.

Mr. Montalto is a member of the American Institute of Certified Public Accountants (AICPA), as well as a member of the New York, Connecticut and California Societies of Certified Public Accountants and the National Association of Tax Professionals.

Mr. Montalto completed the AICPA WebTrust Certification Program which qualifies him to issue the WebTrust seal of assurance service to clients. He has also completed and received the NYSSCPA Certificate of Educational Achievement in Personal Financial Planning. Mr. Montalto holds a Bachelor of Science degree from Fordham University. He is a resident of Pleasantville, NY.

Lucille S. Murray, Senior Tax Manager
Lucille S. Murray was a senior tax manager of Montalto CPA, LLC, where she served in the Taxation & Family Office Practice. An accounting professional with 30 years of experience, Ms. Murray specializes in the tax aspects of the medical industry, as well as serving the needs of high-net-worth families and individuals. Ms. Murray is an associate member of the New York State Society of Certified Public Accountants (NYSSCPA), the National Association of Tax Professionals and the American Society of Women Accountants. She holds a Bachelor of Business Administration in Accounting from Iona College, New Rochelle. She is a resident of Pleasantville, NY.

About Marks Paneth & Shron

Marks Paneth & Shron LLP (MP&S) is an accounting firm with nearly 500 people, approximately 70 of whom are partners and principals. The firm provides businesses with a full range of auditing, accounting, tax, bankruptcy and restructuring services as well as litigation and corporate financial advisory services to domestic and international clients. The firm also specializes in providing tax advisory and consulting for high-net-worth individuals and their families, as well as a wide range of services for international, real estate, media, entertainment, nonprofit, professional and financial services and energy clients.

The firm also provides information technology consulting services through its Tailored Technologies subsidiary. In addition, its membership in JHI, the leading international association for independent business advisers, financial consulting and accounting firms, facilitates service delivery to clients throughout the United States and around the world.

Marks Paneth & Shron, whose origins date back to 1907, is the 32nd largest accounting firm in the U.S., and the 15th largest in the New York area. Its headquarters are in Manhattan. Additional offices are in Westchester, Long Island and the Cayman Islands. For more information, please visit www.markspaneth.com.

Contact Information: Contact: Adria Greenberg Sommerfield Communications, Inc. 212-255-8386 adria@sommerfield.com