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NJ TRANSIT APPOINTS AUDITOR GENERAL

Warren A. Hersh named to key oversight position

November 19, 2007
Contact: Dan Stessel (973) 491-7078

NEWARK, NJ The NJ TRANSIT Board of Directors today appointed Warren A. Hersh as Auditor General of the corporation. Hersh has served as Acting Auditor General since the post became vacant in July 2007, and has accepted the Board’s offer to serve in the position on a permanent basis.

“Mr. Hersh brings a wealth of experience to this important job and has demonstrated his ability here and with his previous employers in the wide range of skills that this position requires,” said NJ TRANSIT Chairman and Transportation Commissioner Kris Kolluri.

Under NJ TRANSIT by-laws, the Auditor General reports directly to the Board of Directors through the Audit Committee. The AG is responsible for reviewing and monitoring the reliability of financial statements and the adequacy of financial controls, evaluating audit performance and monitoring the implementation of and compliance with policies set by the Board and the Executive Director.

“The size and scope of our daily operations and of our capital projects amplify the importance of this position,” said Board Member and Audit Committee Chairman Ken Pringle. “I am confident in Warren Hersh’s abilities to protect NJ TRANSIT’s interests through all of its auditing needs and procedures.”

Hersh, 51, of Freehold, earned an undergraduate degree in accounting from St. John’s University and an MBA from Adelphi University.

He has more than 25 years of experience in the field. Prior to coming to NJ TRANSIT, Hersh served as Internal Audit Director at Jefferson Wells International and at BDO Seidman, LLP.

Prior to those positions, Hersh held auditing positions at several companies in the telecommunications industry, including AT&T Business Services, TCG, Southern New England Telecommunications Corporation and NYNEX.

He serves on the Institute of Internal Auditors International Standards Board and is a frequent speaker at audit and industry conferences.

About NJ TRANSIT

NJ TRANSIT is the nation's largest statewide public transportation system providing nearly 865,000 weekday trips on 240 bus routes, three light rail lines and 11 commuter rail lines. It is the third largest transit system in the country with 162 rail stations, 60 light rail stations and more than 18,000 bus stops linking major points in New Jersey, New York and Philadelphia.