Brown Brothers Harriman & Co. Announces New Securities Lending Head.

BOSTON--(BUSINESS WIRE)--Nov. 15, 1999--

Brown Brothers Harriman & Co. (BBH) today announced the appointment of Ms. Christine Donovan as Head of Securities Lending. The appointment was made in an effort to expand BBH's existing approach to the Securities Lending product. Ms. Donovan is well known in the industry as the Founder and President of Boston Global Advisors, Inc., a leading third party securities lending agent now a division of Goldman, Sachs & Co.

Donovan comes to BBH at a critical juncture for the 180-year-old partnership, which views this appointment as a vital rounding out of BBH's existing product mix.

In making the announcement, Mr. Andrew Tucker, partner in charge of new product development, said, "Chris comes to us with direct start-up experience, extensive industry knowledge, and objectives which fit perfectly with our existing service philosophies - to add value to clients by utilizing our intelligence, speed, and flexible product delivery infrastructure. We are thrilled to have her on our team."

BBH has provided institutional custody and related services for more than 70 years. With over $725 billion in assets, BBH's primary focus is to provide an extremely high level of custody and related services to a limited number of investment managers, banks, and insurance companies. The firm provides Investor Services through offices in Boston, New York, New Jersey, and overseas offices in Dublin, Grand Cayman, Hong Kong, London, Luxembourg, Tokyo, and Zurich.