ISDA®

INTERNATIONAL SWAPS AND DERIVATIVES ASSOCIATION

NEWS RELEASE

For Immediate Release, Thursday, March 16, 2006

For More Information, Please Contact:

Lauren Dobbs, ISDA Press Office, Singapore, +65 68364766; lauren@kennedycom.com

Scott Marra, ISDA New York, 212-901-6013, smarra@isda.org

ISDA ELECTS 10 BOARD MEMBERS

SINGAPORE, THURSDAY, MARCH 16, 2006 – At its Annual General Meeting in Singapore today, the International Swaps and Derivatives Association (ISDA) elected ten directors, eight of whom currently serve on the Association’s Board.

The newly elected directors are:

· Grant Lovett, European Head of Investment Grade Trading, UBS Investment Bank

· Hideyuki Sago, Deputy General Manager, Structured Products Division, Global Markets Business Unit, Mitsubishi UFJ Securities

The re-elected directors are:

· Jonathan Moulds, Head of International Markets, Bank of America; who is re-elected as Chairman for a term of one year

· Douglas Bongartz-Renaud, Managing Director, Group Risk Management Division, ABN Amro Bank N.V.

· Michele Faissola, Managing Director and Global Head of Rates, Global Markets Division, Deutsche Bank

· Diane Genova, Managing Director & Co-General Counsel Investment Bank, J.P. Morgan Chase & Company

· Michael Pohly, Managing Director, Head of North American Credit Trading, Morgan Stanley

· Riccardo Rebonato, Global Head of CBFM Market Risk and Head of Quantitative Research & Quantitative Sales, FM, Royal Bank of Scotland

· Thomas Riggs, Managing Director, Goldman Sachs

· Kenneth Tremain, Managing Director, Head of North American Interest Rate Derivative Trading and Government Bond Trading, Citigroup

The directors continuing on the Board are:

· Kaushik Amin, Managing Director, Co-Head of Global Interest Rate Products, Lehman Brothers Inc.

· Michael Bass, Global Head, Interest Rate Derivatives, Standard Chartered Bank

· Marcelo Castro, Head of Treasury for Europe, Grupo Santander Central Hispano

· Mark Davies, Senior Managing Director, Bear Stearns

· Benoit de Vitry, Global Head of Commodities and Emerging Market Rates, Barclays Capital

· Hidetaka Hara, Executive Director, Global Markets Planning Department, Nomura Securities Co., Ltd

· Frederic Janbon, Managing Director and Global Head of Fixed Income Trading, BNP Paribas

· Robert Lawson, Global Business Unit Leader, Finance, Energy & Risk Management, BP Oil International Limited

· Ernest Patrikis, Senior Vice President and General Counsel, American International Group, Inc.

· Eraj Shirvani, Managing Director, Head of European and Pacific Credit Trading, Credit Suisse First Boston Europe Limited

· Giovanni Gorno Tempini, Chief Executive Officer and Managing Director, Banca Caboto

About ISDA

ISDA, which represents participants in the privately negotiated derivatives industry, is the largest global financial trade association, by number of member firms. ISDA was chartered in 1985, and today has approximately 700 member institutions from 50 countries on six continents. These members include most of the world's major institutions that deal in privately negotiated derivatives, as well as many of the businesses, governmental entities and other end users that rely on over-the-counter derivatives to manage efficiently the financial market risks inherent in their core economic activities. Information about ISDA and its activities is available on the Association's web site: www.isda.org.

^®ISDA is a registered trademark of the International Swaps & Derivatives Association, Inc.

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