Industry & Services >> CEO Interviews >> May 27, 2002

Joel Rassman – Toll Brothers Inc (tol)

JOEL H. RASSMAN is Executive Vice President, Treasurer, Chief Financial Officer and Director of Toll Brothers, Inc. Mr. Rassman graduated from Brooklyn Technical High School in 1963. Upon graduation, he enrolled in Brooklyn College. After determining he wanted a degree in business or accounting, he switched to Bernard Baruch College from which he graduated in 1967. Upon graduation, Mr. Rassman took a position with S. D. Leidesdorf & Company (which later merged with what is now Ernst and Young). Mr. Rassman left Leidesdorf in 1972 to join Kenneth Leventhal & Company (which later merged with what is now Ernst and Young). Mr. Rassman was a partner in the international accounting firm of Kenneth Leventhal, based in their New York City office until 1984. In addition to normal accounting assignments, he was involved in a number of major judicial and non-judicial reorganizations representing both debtors and creditors, and he was engaged as a consultant to a number of major banks and companies assisting in business, tax and accounting areas. Since 1984, Mr. Rassman has been responsible for and/or has overseen the financial, mortgage banking, accounting, internal audit and tax operations for Toll Brothers. In this capacity, he was instrumental in the strategic reorganization of the company for future growth in anticipation of its initial public offering in 1986. Mr. Rassman is responsible for Toll's banking and Wall Street relationships and has guided the company through three bank consortiums and six renewals, and 10 public subordinated debt offerings, two senior investment grade debt offerings (144A), one convertible subordinated debt and three equity offerings. Mr. Rassman holds professional memberships in the American Institute of Certified Public Accountants and the New York State Society of Certified Public Accountants. He has made numerous guest appearances on CNBC, CNN, Fox, CNNfn, Bloomberg TV and Bloomberg Radio. Profile
TWST: Can you bring us up to date on Toll Brothers? What's gone on over

the past year that investors should focus on?

Mr. Rassman: Both the home building industry and Toll Brothers