ISDA ISSUES STATEMENT IN SUPPORT OF INDUSTRY RISK MANAGEMENT REVIEW

NEW YORK, Thursday, January 7, 1999 - The International Swaps and Derivatives Association (ISDA) issued a statement today in support of financial industry institutions who have formed a group to identify enhanced practices in risk management.

"We welcome this initiative and believe that, by identifying enhanced credit and market risk management practices, it can serve a useful purpose," said Richard E. Grove, ISDA's executive director and chief executive officer. "History demonstrates that enhanced risk management practices are most effective when identified and implemented by industry participants."