News Release

NASD Dispute Resolution Names Board of Directors

Washington, D.C.—NASD Dispute Resolution, Inc., the newly formed subsidiary of the National Association of Securities Dealers (NASD) today announced who will serve on the company’s first six-person Board of Directors. John Sexton, the Dean of the New York University Law School, and a former member of the NASD Regulation Board and its National Arbitration and Mediation Committee and its National Adjudicatory Council, will serve as the Chairman of NASD Dispute Resolution’s Board of Directors. Formerly known as the NASD Regulation Office of Dispute Resolution, NASD Dispute Resolution became a wholly owned subsidiary of the NASD on July 9, 2000.

"NASD Dispute Resolution welcomes these outstanding new Board members, all of whom have superior qualifications and will provide excellent governance to the company. The unique combination of Directors will ensure that our forum continues to be responsive to all of our constituencies. In addition our Chairman, John Sexton, will offer the Board and the forum exceptional leadership skills and a thorough understanding of the issues facing NASD Dispute Resolution. I am extremely pleased that John has agreed to serve as Chairman," said Linda Fienberg, President of NASD Dispute Resolution and also a member of the new Board of Directors.

The other four members of the Board are as follows:

Donald J. Kirk
Public Oversight Board,
American Institute of Certified Public Accountants

John D. Markese
American Association of Individual Investors

Donald B. Marron
Chairman and Chief Executive Officer,
PaineWebber Group

Richard C. Romano
Romano, Brothers & Company

NASD Dispute Resolution is the nation’s largest securities industry dispute resolution forum, handling over 90 percent of all securities-related disputes through arbitration and/or mediation. NASD Dispute Resolution, NASD Regulation, the Nasdaq Stock Market, Inc., and the American Stock Exchange® are subsidiaries of the National Association of Securities Dealers, Inc. (NASD®), the largest securities industry self-regulatory organization in the United States. For more information, please visit the NASD Dispute Resolution Web site at