News Release

Charles A. Bowsher Joins NASD's Board of Governors

Washington, DC — NASD announced that former U.S. Comptroller General Charles A. Bowsher has joined the NASD Board of Governors. Mr. Bowsher increases NASD's Board from 24 to 25 Governors; a majority is from outside the securities industry.

"We're very fortunate to add Chuck Bowsher to the NASD Board," said Robert R. Glauber, Chairman and CEO of NASD. "His long tenure in government as a public official well qualifies him to represent the investing public. His depth of experience will enable him to provide insight into the complex issues facing the securities industry."

In 1981, President Reagan appointed Mr. Bowsher to the 15-year term of Comptroller General of the United States and head of the GAO. Prior to this appointment, Mr. Bowsher was associated with Arthur Andersen & Co. for 25 years, and also served as Assistant Secretary of the Navy for Financial Management. He has served as Chairman of the Public Oversight Board.

NASD is the leading private-sector provider of financial regulatory services, dedicated to investor protection and market integrity through effective and efficient regulation and complementary compliance and technology-based services. NASD touches virtually every aspect of the securities business - from registering and educating all industry participants, to examining securities firms, enforcing both NASD rules and the federal securities laws, and administering the largest dispute resolution forum for investors and member firms. For more information, please visit our Web site at