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CHAMBERS APPOINTS NEW CHIEF FINANCIAL OFFICER

 CHAMBERS APPOINTS NEW CHIEF FINANCIAL OFFICER
 PITTSBURGH, Oct. 8 /PRNewswire/ -- Chambers Development Company,


Inc. (AMEX: CDVA, CDVB) today announced that it has named George R. Johannes its new executive vice president of finance.
 He will assume his new position as executive vice president of finance on Oct. 12 and his duties as chief financial officer on Nov. 1.
 William Rodgers Jr., having served in the capacity as Chambers' interim CFO, will return to his responsibilities as vice president of corporate development on Nov. 1.
 Johannes will be responsible for managing the treasury, accounting, tax and other financial functions at Chambers.
 Prior to joining Chambers, Johannes was the CFO for Beazer USA, Inc. in Pittsburgh for the past three years. Before coming to Pittsburgh he was the CFO for Gemisys Inc., in Lakewood, Colo., for three years; and CFO for Manville Corp., in Denver for four years.
 Johannes has more than 30 years of experience in financial and administrative management for major multinational building materials products and services corporations, a privately held software and data processing firm and a certified public accounting firm.
 John G. Rangos Sr., president and CEO of Chambers, said, "I'm pleased that the search involving in excess of 100 qualified applicants has concluded and that an experienced professional like Mr. Johannes is joining the company as its chief financial officer.
 "Mr. Johannes will be a key member of our senior management team and be responsible for all of the financial functions of the company. Based upon his qualifications and experience there is no doubt he is eminently qualified to fill this vital role at Chambers."
 A native of New York City, Johannes earned a bachelor's degree in business administration from Manhattan College and is a certified public accountant. He also attended the Senior Executive Program in the Graduate School of Business at Stanford University.
 Additionally, he is a member of the following: vice chairman of the Financial Executives Institute, American Institute of CPA's, New York State Society of CPA's, and a member of the board of directors for the Association for Retarded Citizens and account executive for the United Way of Pittsburgh.
 Johannes, 53, is married, has two children and lives in Pittsburgh.
 -0- 10/8/92
 /CONTACT: Jim Leonard, media, 412-244-7560, or Lew Nevins, financial, 412-244-6195, both of Chambers Development Company/
 (CDV) CO: Chambers Development Company, Inc. ST: Pennsylvania IN: SU: PER


MP-MK -- PG011 -- 7800 10/08/92 11:30 EDT
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Publication:PR Newswire
Date:Oct 8, 1992
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