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1201 Pennsylvania Avenue, NW Washington, DC 20004-2401 Tel: 202.662.6000 Fax: 202.662.6291 www.cov.com
Covington was once considered the most elite firm inside the Beltway. In 2004 that title looked as if it might be gone for good when Skadden, Arps, Slate, Meagher & Flom pushed Covington into fifth place in the D.C. 20 rankings. Last year, Covington fought back and reaped the reward. The firm posted a 17 percent jump to $259 million, vaulting it back to fourth place, just after Washington heavyweights WilmerHale, Hogan & Hartson, and Arnold & Porter. Financial indicators were fairly strong. Profits per partner shot up 18 percent to $975,000, and revenue per lawyer moved upward by 6.2 percent. Much of the growth, says Mitchell Dolin, a member of the firm’s executive committee, stemmed from new hires and a steady hold on expenses. Covington remains the smallest of the top D.C. firms but continues to bring in a few key laterals. One of the biggest names is George Pappas, an intellectual property attorney the firm wooed away from Venable. Government investigations proved a fruitful business center for the firm. Covington attorneys helped Pfizer Inc. and GlaxoSmithKline wend their way through regulatory probes. The firm also handled some securities work, including defending Freddie Mac in securities class actions stemming from accounting misstatements. It counseled Kerr-McGee Corp. in its fierce proxy fight with billionaire investor Carl Icahn. And attorneys won a $1.1 billion judgment in favor of 11 oil and gas companies over an environmental regulation at the U.S. Court of Federal Claims. Though Covington’s international reach is limited to offices in London and Brussels, foreign companies’ increasing interest in the U.S. market led the firm to one of its most significant matters. It shepherded IBM Corp. in its national security review for the sale of its personal computing division to China-based Lenovo Group Ltd.
• RANKINGS •
D.C. 20 (2006)Rank by D.C. revenue: 4D.C. Revenue (2005): 259,000,000D.C. Revenue (2004): 221,300,000Revenue per lawyer: 775,000Profits per partner: 975, 000Average Compensation All Partners: 975,000Lawyers/Equity: 335/110Firmwide Revenue (2005): 380,000,000 D.C. 20 (2005)D.C. Revenue 2004: 221,300,000D.C. Revenue 2003: 209,700,000Revenue Per Lawyer: 730,000Profits Per Partner: 825,000Average Compensation All Partners: 825,000Lawyers/Equity Partners: 304/108Firmwide Revenue 2004: 337,500,000

LT150 (2006)Rank by size of D.C. office (2005): 5Lawyers in Office (2006): 390Partners in Office (2006): 123Lawyers in office (2005): 375Partners in office (2005): 120Percent Change in Number of Lawyers: 4.0Associate Hires Expected 2006: 53 LT150 (2005)Rank: 4Lawyers 2005: 375Partners 2005: 120Lawyers 2004: 35Partners 2004: 131Percent Change: 5.3Associate Hires: 53+

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