Financial Times and Goldman Sachs announce finalists for Business Book of the Year Award

US Press Release, September 20, 2005: The finalists for the inaugural Financial Times and Goldman Sachs Business Book of the Year Award (www.ft.com/bookaward) were announced on Tuesday by Andrew Gowers, editor of the Financial Times, at a breakfast reception in London.

The finalists are:

John Battelle THE SEARCH: How Google and Its Rivals Rewrote the Rules of Businesss and Transformed Our Culture (Portfolio)

Thomas Friedman THE WORLD IS FLAT: A Brief History of the Globalized World in the 21st Century (Farrar, Straus and Giroux)

Steven D Levitt and Stephen J Dubner FREAKONOMICS: A Rogue Economist Explores the Hidden Side of Everything (William Morrow)

Constantinos C Markides and Paul A Geroski FAST SECOND: How Smart Companies Bypass Radical Innovation to Enter and Dominate New Markets (Jossey Bass)

Pietra Rivoli THE TRAVELS OF A T-SHIRT IN THE GLOBAL ECONOMY: An Economist Examines the Markets, Power and Politics of World Trade (Wiley)

James B. Stewart DISNEYWAR: The Battle for the Magic Kingdom Simon & Schuster

The judges met in New York on September 12, 2005 to decide on the six books which, in their opinion, provided ‘the most compelling and enjoyable insight into modern business issues.’

Andrew Gowers comments: “The Award aims to provide a definitive guide to what’s worth reading amongst the deluge of business books published each year. I think my fellow judges will agree that it has provoked a fascinating debate so far. It proved challenging to identify business books which met the criteria of being both compelling and enjoyable, but we believe we have identified six very strong contenders for the top prize.”

Lloyd C. Blankfein, President and Chief Operating Officer, Goldman Sachs, said. “We received a dauntingly large number of impressive books and reading them defined the summer for me. Choosing the finalists and, ultimately, deciding which book should be declared the winner require the judges to exercise the wisdom of Solomon.”

The judging panel for the 2005 Award is:

Lloyd C. Blankfein, President and COO, The Goldman Sachs Group, Inc

John Gapper, Chief Business Commentator and Associate Editor, Financial Times

Jeffrey Garten, Juan Trippe Professor ofInternational Trade, Finance and Business, Yale School of Management

Andrew Gowers, Editor, Financial Times

Rachel Lomax, Deputy Governor for Monetary Policy, Bank of England

N.R. Narayana Murthy, Chairman and Chief Mentor, Infosys Technologies

Sir Martin Sorrell, Chief Executive, WPP

Each finalist will each receive £5000 (approximately $9,000 U.S. dollars) and the winning author will receive £30,000 (approximately $54,000 U.S. dollars). The overall winner will be announced at a gala event in London on Monday, November 21st.

For further information about the Award, please contact:

1. Barbara Cave Henricks, Goldberg McDuffie Business, 512-301-8936, bhenricks@goldbergmcduffie.com or Peter Rose, Goldman Sachs, 212-902-3144, Peter.Rose@gs.com

Photographs of the judging and the shortlist announcement are available on request.

The Financial Times and Goldman Sachs

Business Book of the Year

Finalists

THE SEARCH: How Google and Its Rivals Rewrote the Rules of Business and Transformed Our Culture

John Battelle Portfolio $25.95

The rise of Google is one of the most amazing stories of our time. Jumping into the search industry long after its competitors, Google offered a radical new approach to search, redefined the idea of viral marketing, survived the dot-com crash and pulled off the largest and most talked-about initial public offering in the history of Silicon Valley. John Battelle, co-founder of Wired and founder of The Industry Standard and TheStandard.com, describes how Google really succeeded – and the implications of a world in which every click can be preserved forever.

THE WORLD IS FLAT: A Brief History of the Globalized World in the Twenty-first Century

Thomas Friedman Farrar, Strauss Giroux $27.50

Pulitzer Prize-winning New York Times columnist Thomas Friedman argues that the beginning of the 21st Century will be remembered as the dawn of a new age of globalization – a ‘flattening’ of the world. The explosion of advanced technologies now means that suddenly knowledge-pools and resources have connected all over the planet, levelling the playing field as never before, so that each of us is potentially an equal – and competitor – of the other. Friedman explains how it happened; what it will mean for countries and individuals; and how governments and societies can – and must – adapt.

FREAKONOMICS: A Rogue Economist Explores the Hidden Side of Everything

Steven D Levitt and Stephen J Dubner William Morrow $26.95

Freakonomics turns conventional economics on its head, stripping away the jargon and calculations of the ‘experts’ to explore the riddles of everyday life. Which is more dangerous, a gun or a swimming pool? What do schoolteachers and sumo wrestlers have in common? Why do drug dealers still live with their mothers? And why do prostitutes earn more than architects? Steven D Levitt teaches economics at the University of Chicago and recently won the American Economic Association’s John Bates Clark Medal for the best American economist under forty. Stephen J Dubner writes for the New York Times and the New Yorker.

FAST SECOND: How Smart Companies Bypass Radical Innovation to Enter and Dominate New Markets

Constantinos C Markides Paul A Geroski Jossey-Bass $27.95

International strategy experts Markides and the late Geroski argue that most established companies are far better suited to scaling up newly created markets pioneered by others (in other words, being “fast seconds”) than to creating these markets from scratch. Constantinos C Markides is professor of strategic and international management at London Business School and holds the Robert P Bauman Chair of Strategic Leadership at the London Business School. Paul A Geroski was, professor of economics at London Business School and Chairman of the Competition Commission in the UK.

THE TRAVELS OF A T-SHIRT IN THE GLOBAL ECONOMY: An Economist Examines the Markets, Power and Politics of World Trade

Pietra Rivoli Wiley $29.95

Associate Professor at Georgetown University’s McDonough School of Business, Pietra Rivoli takes the reader on a round-the-world adventure to reveal the life story of an everyday T-shirt. Over a five-year period, Dr. Rivoli travelled from a West Texas cotton field to a garment factory in China, and from trade negotiations in Washington to a used clothing market in Africa to uncover the complex global, political and economic forces that determine who wins and who loses – and why – in the competitive global marketplace.

DISNEYWAR: The Battle for the Magic Kingdom

James B Stewart Simon & Schuster $29.95

When Roy Disney, chairman of Disney animation and nephew of founder Walt Disney, abruptly resigned in November and declared war on chairman and chief executive Michael Eisner, he sent shock waves around the business world. Drawing on unprecedented access to both Eisner and Roy Disney, current and former Disney executives and board members, this is the inside story of what drove the iconic entertainment company to civil war. James B Stewart is a former editor at the Wall Street Journal, a bestselling author and regular contributor to SmartMoney and The New Yorker.

Notes to Editors:

2. The 2005 Financial Times and Goldman Sachs Business Book of the Year Award was open to any business book published in the English language between 31st October 2004 and 1st November 2005.

3. Andrew Gowers, Editor, and Andrew Hill, Financial Editor, of the Financial Times and administrator of the Award are available for comment.

4. The Financial Times Group, one of the world’s leading business information companies, provides a broad range of business information and services to a growing audience of internationally minded business people. It includes the Financial Times, one of the world’s leading business newspapers, FT.com and a pan-European network of national business newspapers and online services including Les Echos and FT Deutschland, FT Interactive Data, Investors Chronicle, The Banker, MoneyManagement and Financial Adviser. It also has a number of joint ventures including FTSE International with the London Stock Exchange. For further information about the Financial Times contact: Katy Hemmings tel: +44 (0) 20 7010 2307

5. Goldman Sachs is a global investment banking, securities and investment management firm. It provides a wide range of services to a substantial and diversified client base that includes corporations, institutional investors, governments, non-profit organizations and individuals. Founded in 1869, Goldman Sachs has long sustained a commitment to hiring and training outstanding leaders. Its business principles are rooted in integrity, a commitment to excellence, innovation and teamwork. These values enable the firm to execute successfully a business strategy that is focused on extraordinary client service and superior long-term financial performance for its shareholders. For further information about Goldman Sachs in the UK contact Simon Eaton: tel + 44 (0)20 7774 4102 email: simon.eaton@gs.com. In the U.S., contact Peter Rose tel 212-902-