News Release

Jon S. Corzine Elected to NASD Board of Governors

Washington, DC—The National Association of Securities Dealers, Inc., (NASD®), today announced the election of Jon S. Corzine, Chairman and Chief Executive Officer of the investment banking firm Goldman, Sachs & Co, to the NASD Board of Governors. He previously served on the Nasdaqâ Board of Directors from 1996-1997.

Mr. Corzine joined Goldman, Sachs & Co. in 1975 and assumed his current position in 1994. Earlier he served with Bancohio Corporation and at Continental Illinois National Bank.

Mr. Corzine is a member of the Public Securities Association and served as its Chairman in 1986. He is also a member of the Federal Reserve Bank of New York’s International Capital Markets Advisory Committee. Additionally, he serves on the Board of Trustees of the University of Chicago and the Board of Directors of the Institute for International Economics. In March 1997, President Clinton announced his intention to appoint Mr. Corzine as Co-Chair of the Presidential Commission to study Capital Budgeting.

"We are proud to have a recognized industry leader like Jon working with us. His understanding of the growth and change taking place in the market is unparalleled," said Frank Zarb, Chairman, CEO and President of the NASD.

The National Association of Securities Dealers is the largest securities industry self-regulatory organization in the United States. Through its subsidiaries, NASD Regulation, Inc., and The Nasdaq Stock Market, Inc., the NASD develops rules and regulations, conducts regulatory reviews of members’ business activities, disciplines violators, and designs, operates, and regulates securities markets and services all for the ultimate benefit and protection of the investor.