New York, Tuesday 14 October 2008:

Mohamed El-Erian today won the Financial Times and Goldman Sachs Business Book of the Year Award 2008 (www.ft.com/bookaward) for When Markets Collide: Investment Strategies for the Age of Global Economic Change, a timely alert to the fundamental changes taking place in today’s global economic and financial systems – and a call to action for investors who may fall victim to misinterpreting important signals, published by McGraw-Hill.