ISDA®

INTERNATIONAL SWAPS AND DERIVATIVES ASSOCIATION

NEWS RELEASE

For Immediate Release Monday, June 11, 2001

For More Information, Please Contact:

Stacy Carey, ISDA New York, (212) 332-1200; Fax (212) 332-1212; scarey@isda.org

ISDA APPOINTS EMILY JELICH AS GENERAL COUNSEL

NEW YORK, Monday, June 11, 2001 – The International Swaps and Derivatives Association (ISDA) announced today that it has appointed Emily Jelich as its general counsel, effective June 18, 2001. Ms. Jelich comes to ISDA from Royal Bank of Canada in Toronto, where she served as Senior Counsel and Practice Area Coordinator.

A member of Royal Bank of Canada’s legal staff since 1995, Ms. Jelich has been an active participant in ISDA documentation and netting initiatives and has worked closely with ISDA’s Canadian Members Steering Committee. Previously, Ms. Jelich worked as an associate at Blake, Cassels and Graydon in Toronto. She graduated from Carleton University in Ottawa, Ontario in 1987, received her law degree in 1990 from the Osgoode Hall Law School of York University, Ontario and was called to the Ontario Bar in 1992.

“Emily’s experience as a derivatives lawyer in a major financial institution and her active support of and commitment to ISDA documentation and netting efforts underscore her strong credentials for this position,” said Robert G. Pickel, ISDA’s executive director and CEO. “She is an excellent addition to our team of professionals, who work to provide quality service to our members and the industry.”

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