CHICAGO, IL -- (MARKET WIRE) -- May 17, 2007 -- MorrisAnderson & Associates, Ltd., Chicago, is pleased to announce that Mitchel Steiner has joined the company as a Managing Director in the company's New York office.

"We are extremely pleased to have recruited Mitch to MorrisAnderson. His background in managing field collateral audit services for a sizeable ABL portfolio will be invaluable as we expand our Lender Services practice," says Dan Dooley, Principal and COO.

Steiner, along with John Battaglia, another Managing Director based out of the company's New York office, will help lead the national Lender Services business, providing business assessment and quality of earnings reports, as well as field exams, for firms in all industries. The two are both veterans of United Jersey Bank (now Bank of America), where Steiner was a Senior Field Examiner and Team Leader. They will also be responsible for recurring fraud investigations and forensic accounting services in the division.

Steiner originally began his career in factoring with Iselin-Jefferson Factors after earning his bachelor's degree in accounting from Franklin Pierce College, Rindge, N.H., in 1977.

Over the course of his 20-year career he has uncovered more than $10 million in fraud, has been involved in participation deals of more than $100 million, and has been integrally involved in developing and directing field examinations across a broad spectrum of companies and industries.

Before joining MorrisAnderson, Steiner was an auditor and field examiner for financial institutions including Bankers Trust Co., CIT, CTC Commercial Trust Co., Marine Midland Bank, and United Jersey Bank.

Most recently Steiner spent the better part of twelve years with Webster Business Credit Corp in New York City (formally IBJ Whitehall / IBJ Schroder) where he began as VP Senior Field Examiner and for the past six years was VP Field Examination Manager.

About MorrisAnderson

Chicago-based MorrisAnderson has offices in New York, Atlanta, Milwaukee, Delaware, Los Angeles, Cleveland and Nashville. The firm's eight service offerings include performance improvement, financial advisory, turnarounds and workouts, investment banking, interim management, lender services, information technology services, and insolvency services and wind-downs. MorrisAnderson emphasizes hands-on involvement for companies with $20 million to $250 million in annual sales. Now celebrating its 26th anniversary, the firm recently merged with Centre Health Partners, a management consulting firm specializing in financial and operational performance improvement services for the health-care industry. MorrisAnderson's new health-care division is in Nashville, TN.

Contact Information: For More Information: Marjorie Dunn Manager, Marketing & Communications 312/254-0892 Email Contact New York Office MorrisAnderson & Associates, Ltd. 51 East 42nd Street Suite 700 New York, NY 10017 212/867-6868 phone 212/867-7831 fax