ADVISORY/Media Advisory: ISDA's 18th Annual General Meeting.

Business Editors

ADVISORY...for April 9-10

--(BUSINESS WIRE)

The International Swaps and Derivatives Association is holding its 18th Annual General Meeting in Tokyo, Japan, April 9-10, 2003.

ISDA's AGM is the preeminent event of the derivatives and risk management industry and will feature leading speakers from the industry and government. Accredited journalists are invited to attend AGM 2003 and its social events as press guests. Simultaneous English/Japanese translations of all sessions will be available.

WHAT:   ISDA's 18TH ANNUAL GENERAL MEETING

        AGM 2003 will feature discussions on a number of key
        derivatives and risk management issues, including:

        --  Global market perspectives on derivatives industry
            business issues

        --  Public policy issues, including the Basel capital accord
            reform and implementation

        --  Derivatives developments in China and the Asia Pacific
            region

        --  ISDA's central role in the growth of the derivatives
            business

        Social events include receptions at the Happo-en and the Tokyo
        National Museum.

WHO:    AGM 2003 will feature leading industry executives and public
        policy makers, including keynote addresses by the
        following:

        --  Shigemitsu Miki, President, The Bank of Tokyo-Mitsubishi,
            Ltd.

        --  Bart Broadman, Vice Chairman and Head of Credit and Rate
            Markets, JPMorgan Asia Pacific

WHEN:   APRIL 9-10, 2003

WHERE:  FOUR SEASONS HOTEL TOKYO AT CHINZAN-SO
        2-10-8, SEKIGUCHI, BUNKYO-KU
        TOKYO 112-8667

ISDA is the global trade association representing leading participants in the privately negotiated derivatives industry. ISDA was chartered in 1985, and today has more than 600 member institutions from 46 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, including the Annual General Meeting agenda, is available on the Association's web site: www.isda.org.

ISDA's Annual General Meeting is an invitation-only event that is open only to Association members. Accredited journalists are invited to attend AGM 2003 and its social events as press guests. There is no registration fee for journalists.

Members of the media planning on attending this invitation-only event, please RSVP to: Jennifer Iannibelli, Kennedy & Company, 914/961-2436 or [e-mail].