News Release

NASD Appoints Dan Crowley as Vice President, NASD Governmental Affairs

Washington, D.C.—Frank G. Zarb, Chairman and CEO of the National Association of Securities Dealers, Inc. (NASD®), parent of The Nasdaq-Amex Market GroupSM, announced yesterday the appointment of Dan Crowley as Vice President, NASD Governmental Affairs. In this position, Crowley will represent the views and policies of the NASD to federal, state and local officials. In addition, he will participate in the formulation and execution of selected strategic initiatives, focusing both on NASD’s core functions as well as new business opportunities. He will report to John Hilley, Executive Vice President for NASD Strategic Development Administration.

Prior to joining NASD, Crowley was General Counsel to House Speaker Newt Gingrich, where he advised the Speaker and his staff on legislative-branch management issues, the use of official allowances, and compliance with federal laws, House Rules, and ethical guidelines.

From August 1997 to March 1998, Crowley was General Counsel to the House of Representatives Committee on House Oversight, where he was responsible for supervising the Committee’s legal team, drafting legislation, and advising members on a wide range of legal issues, including parliamentary procedure in Committee and on the floor.

Crowley has a Juris Doctor from the University of Maryland School of Law, a Master of Public Management degree from the University of Maryland School of Public Affairs, and Bachelor of Science from the University of Maryland College of Business and Management. Crowley also served in the U.S. Army Reserve Military Police Corps.

"We are extremely pleased that Dan is bringing his vast Capitol Hill experience to our organization," said Zarb. "The extraordinary breadth of his expertise will ensure that our members, issuers and the investing public will be well represented."

The NASD is the largest securities-industry, self-regulatory organization in the United States and parent organization of NASD Regulation, Inc., and The Nasdaq-Amex Market GroupSM. Through its regulatory subsidiary, the NASD develops rules and regulations, provides a dispute resolution forum, and conducts regulatory reviews of member activities for the protection and benefit of investors. Through the Nasdaq-Amex Market Group, the NASD operates The Nasdaq Stock Market® and the American Stock Exchange (Amex®) in a unique dual market structure that brings together the central auction specialist and multiple Market Maker systems. The NASD oversees the nation’s 5,600 brokerage firms and more than half a million registered brokers. Consumers can contact the NASD to obtain the disciplinary and work histories, as well as other selected background information, of member firms and individual brokers or to get information on how to lodge a complaint.

For more information about the NASD and its subsidiaries, please visit the following Web sites: www‌; www‌; or the Nasdaq-Amex NewsroomSM at www‌