MUNICH, STUTTGART, WIESBADEN – Hewitt Associates, a global human resources consulting and outsourcing company, has acquired the remaining interest in BodeHewitt AG & Co KG, a German pensions and benefits consulting specialist, from Bayerische Hypo- und Vereinsbank AG (HVB). Together, BodeHewitt and Hewitt will have 230 associates working from offices in Munich, Stuttgart, and Wiesbaden. BodeHewitt is the leading benefits consulting firm in Germany, advising more DAX30 companies than any other firm. It also serves as the actuary to many mid-size and smaller companies, as well as a variety of other pension schemes in Germany.

BodeHewitt has operated as a joint venture since 2005, providing corporate pension services to both trustees and management of German and international companies while expanding the business substantially. The business becomes Hewitt's German Retirement and Financial Management (RFM) consulting practice and will be jointly led by Olaf Petersen and Georg Thurnes, both currently board members of BodeHewitt. Niels Rasmussen continues as managing director of Hewitt Associates in Germany.

Yvan Legris, president Global Consulting at Hewitt, said: "We are delighted that BodeHewitt is now wholly-owned by Hewitt Associates. Germany is a key market for us and this further strengthens our ability to serve our increasingly global clients with a top tier presence in all major countries. During the four years of the BodeHewitt joint venture, we have seen demand grow for our actuarial services for both local and international companies.

"This acquisition will allow us to build on that progress by extending our broader capabilities in areas such as pension administration and investment consulting where the skills of both organisations complement each other extremely well."

Olaf Petersen, board member of BodeHewitt, said: "BodeHewitt already serves more DAX30 companies than any of our competitors. Now is the ideal time for BodeHewitt to take the next logical step in our successful relationship. Hewitt's global reach and expanded offerings and our own deep expertise and trusted relationships in this important market will create many new opportunities."

About Hewitt Associates
Hewitt Associates (NYSE: HEW) provides leading organizations around the world with expert human resources consulting and outsourcing solutions to help them anticipate and solve their most complex benefits, talent, and related financial challenges. Hewitt consults with companies to design and implement and communicate a wide range of human resources, retirement, investment management, health management, compensation, and talent management strategies. As a leading outsourcing provider, Hewitt administers health care, retirement, payroll, and other HR programs to millions of employees, their families, and retirees. With a history of exceptional client service since 1940, Hewitt has offices in more than 30 countries and employs approximately 23,000 associates who are helping make the world a better place to work. For more information, please visit www.hewitt.com.

Julie Macdonald

,  Hewitt Associates,  (847) 883-1000

Colin Mayes

,  Hewitt Associates,  +44 (0) 1372 733 689

Sean McHugh

,  Hewitt Associates,  (847) 442-4176