ISDA®

INTERNATIONAL SWAPS AND DERIVATIVES ASSOCIATION

NEWS RELEASE

For Immediate Release Monday, November 26, 2001

For More Information, Please Contact:

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

DAVID MENGLE APPOINTED ISDA HEAD OF RESEARCH

NEW YORK, Monday, November 26, 2001 – The International Swaps and Derivatives Association (ISDA) announces the appointment of David Mengle as Head of Research effective Monday, November 26, 2001.

Mr. Mengle will be responsible for providing research and analytical support for various ISDA committees and initiatives in this newly created position. In particular, he will work on aspects of ISDA’s risk management activities, providing technical assistance on issues surrounding the Basel capital accord. He will also oversee ISDA’s market survey and will work to produce surveys in other areas. Over the past several years, Mr. Mengle assisted ISDA by conducting derivatives operations and documentation seminars and he will continue his involvement in this area.

“David brings an enormous amount of industry and academic experience to ISDA,” said Robert G. Pickel, Executive Director and CEO of ISDA. “His expertise in risk management, derivatives products and regulation will strengthen ISDA’s mission to encourage the prudent and efficient development of the privately negotiated derivatives business.”

Mr. Mengle received an AB from The Citadel and a Ph.D. in Economics from the University of California, Los Angeles, and is an Associate Professor of Economics and Finance on the adjunct faculty of Fordham University’s Graduate School of Business. He was most recently with the consulting firm Rutter Associates. Previously for almost ten years, he was a Vice President at J.P. Morgan and worked on a number of policy and capital related issues. Prior to that, he was a Research Economist at the Federal Reserve Bank of Richmond.

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