HARRISBURG, PA,  February 9, 2004 – Stevens & Lee announced today that Scott C. Penwell has joined the Firm as a shareholder in its Corporate, Finance & Capital Markets Department and will co-chair its Captive Insurance Group. Mr. Penwell will also be a member of the firm’s Board of Directors and Executive Committee, and will reside in its Harrisburg office.

Mr. Penwell is the former managing partner of the Harrisburg office of Duane Morris LLP, where he practiced for 23 years.

“We are happy to have Scott as part of our team,” said Jeanna M. Hahn, Stevens & Lee spokesperson. “He brings additional breadth and depth to our corporate and securities practices.”

“His national and international captive insurance practice also complements our recently formed Captive Insurance Group,” said Hahn.

Mr. Penwell has significant experience assisting clients in both traditional and non-traditional insurance law matters. He has represented numerous captive and rent-a-captive insureds and reinsurers, primarily in Bermuda and the Cayman Islands.

He is an experienced corporate and securities attorney and assists clients in transactions including debt and equity financing and mergers and acquisitions, as well as with securities law issues.

Mr. Penwell is a Director of the Legacy Bank and Eastern Insurance Group and a Trustee of Emerald Mutual Funds. He is the immediate-past Chairman of the Business Law Section of the Pennsylvania Bar Association, is a member of the attorney advisory committees to both the Pennsylvania Corporation Bureau and the Pennsylvania Securities Commission, and is a Life Fellow of the American Bar Association. He also co-chaired the Insurance Law Practice Group of TerraLex, a network of 140 law firms representing all 50 states and 90 foreign countries. He is a frequent author and lecturer on the subject of captive insurance and other corporate and insurance issues.

Mr. Penwell received a J.D. from Temple University, an M.A. from Villanova University and a B.A. from Rutgers University.

About Stevens & Lee
Stevens & Lee is a professional services firm of approximately 175 lawyers and over 35 business and consulting professionals. The firm represents clients throughout the Mid-Atlantic region and across the country from 12 office locations: Harrisburg, Lancaster, Reading, Philadelphia, Valley Forge, the Lehigh Valley, Scranton and Wilkes-Barre, Pennsylvania; Princeton and Cherry Hill, New Jersey; and Wilmington, Delaware.