ADVISORY/Federal Reserve President to speak on the Washington and national economy.

Business Editors

ADVISORY...for Thursday (Sept. 4)

--(BUSINESS WIRE)

TO:       Business/Economics writers following the Washington and
          national economies

WHEN:     Thursday, September 4, 2003

WHO       Robert T. Parry, President & CEO of the Federal Reserve Bank
          of San Francisco. Dr. Parry is a member of the Federal Open
          Market Committee, the group led by Federal Reserve Chairman
          Alan Greenspan that meets throughout the year and sets the
          direction of our nation's Monetary Policy.

WHAT      Speech to the Northwest Taxable Bond Club

TOPIC     "The National and Regional Economic Outlook:
          A Monetary Policymaker's Perspective"

TIMING    Thursday, September 4
          Registration at 11:15 a.m. PDT
          Luncheon served at 11:30 a.m. PDT
          Parry speech expected at 12 noon PDT, 3 p.m. EDT
          Audience Q&A to follow;
          Meeting adjourns 12:45 p.m. PDT
          Media availability from 12:50 to 1:05 p.m. PDT

WHERE     Washington Athletic Club, 1325 Sixth Avenue, Seattle,
          Washington

CONTACT   Prior reservation REQUIRED and payment of $35.
          Note: Private venue may not accommodate audio/phone hookups.
          Kit Brown for Northwest Taxable Bond Club, 206-925-1075,
          reservations/site logistics

          Carol Eckert, Parry liaison, 415-977-3853