CPA Firms Gallagher, Flynn & Company and Pierson & Associates
Announce Merger

Burlington, VT - Gallagher, Flynn and Company, LLP of Burlington, VT and Pierson & Associates, PLLC of Hanover, NH have announced the merger of the two regional CPA firms.

Gallagher, Flynn & Company, LLP, is Vermont's largest and Northern New England's second largest independent CPA and business consulting firms. In addition to a complete array of traditional accounting, auditing and tax services, Gallagher, Flynn also offers a broad range of Business Consulting services which include:

" Estate Planning
" Family Business Succession Planning
" Business Valuations
" Human Resource Management
" Information Technology Consulting
" Mergers and Acquisitions
" Employee Benefits Management
" Executive Search Services
" Financial Advisory and Investment Management

Gallagher, Flynn & Company is also a member of the McGladrey Network of CPA firms, a national and international accounting firm association. This network services clients' needs from more than 150 offices nationwide and over 600 offices in 70 countries globally.

Jay Pierson will be Partner-in-charge of the Hanover office. Mr. Pierson was formerly the principal of Pierson & Associates, PLLC a certified public accounting and management advisory firm, providing clients with accounting, auditing, tax compliance and planning and management advisory services.

Mr. Pierson graduated from Dartmouth College in 1962 with a degree in Economics and from Amos Tuck School in 1963 with an MBA. Following graduation, he worked in New York City for six years with Arthur Andersen & Co., as an audit manager. In 1969, he moved to Hanover, NH and joined the CPA firm Smith, Batchelder, & Rugg and became the managing partner in 1979. In August 1993, Mr. Pierson was a co-founder of Pierson, Grill & Co., a predecessor of the firm.

The Gallagher, Flynn & Company Hanover office will be located at the former Pierson & Associates address of 45 Lyme Road in Hanover, NH.

Both organizations are very positive about the merger which enhances their ability to expand into and service the needs of companies throughout the Upper Valley regions of New Hampshire and Vermont.

"I think this is an exciting development for Pierson & Associates and especially for the Upper Valley region" commented Jay Pierson. "Companies and individuals in the region will now have access to the extensive resources of one of Northern New England's top accounting and consulting firms and the personalized service that both organizations have always held to be most important".

Gallagher, Flynn's Co-Managing Partners Greg Bourgea and Mike Keller share Mr. Pierson's enthusiasm. "We are extremely fortunate to have the opportunity to collaborate with a seasoned professional like Jay Pierson. Jay's years of experience serving the Upper Valley will be an invaluable asset to the Hanover office and to our firm's overall capabilities to grow further into that region".