ISDA®

INTERNATIONAL SWAPS AND DERIVATIVES ASSOCIATION

NEWS RELEASE

For Immediate Release Wednesday, September 5, 2001

For More Information, Please Contact:

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

KIMBERLY SUMME APPOINTED GENERAL COUNSEL

NEW YORK, Wednesday, September 5, 2001 – The International Swaps and Derivatives Association (ISDA) announced the appointment of Kimberly Summe as General Counsel effective September 10, 2001.

Prior to joining ISDA as Assistant General Counsel in July 2000, Ms. Summe worked as an associate at Pillsbury Madison & Sutro in San Francisco and Sullivan & Cromwell in New York, representing financial institutions on transactions and regulatory issues. She has published over a dozen articles relating to the regulatory aspects of banking laws in the U.S. and Europe and is currently working on a co-authored book on Islamic law usury practices. Ms. Summe graduated from Oklahoma State University and received law degrees from Cambridge University and The University of Chicago Law School. In addition, she holds a graduate degree in Economics from The London School of Economics.

“In the fifteen months Kimberly has been with ISDA she has exhibited a strong dedication to ISDA and its mission and has very effectively led a variety of initiatives, including collateral and electronic documentation,” said Robert G. Pickel, ISDA’s Executive Director and CEO.

Ms. Summe is replacing Emily Jelich, who will be leaving for personal reasons to return to Toronto. ISDA wishes Ms. Jelich well in her new position and looks forward to continuing to work closely with her on ISDA issues.

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