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FORMER FED GOVERNOR MARTHA SEGER APPOINTED TO CME BOARD OF GOVERNORS

 FORMER FED GOVERNOR MARTHA SEGER APPOINTED TO CME BOARD OF GOVERNORS
 CHICAGO, Jan. 21 /PRNewswire/ -- Martha Seger, financial economist and a governor of the Federal Reserve System from 1984-1991, has been appointed to serve on the Board of Governors of the Chicago Mercantile Exchange (CME), the world's leading institution for financial risk management, it was announced today.
 On the CME Board, Dr. Seger succeeds Susan M. Phillips, who in late 1991 was appointed to the Federal Reserve Board of Governors by President Bush. "The CME Board has accomplished the ultimate 'Fed swap,' " quipped CME Chairman John F. Sandner.
 "Dr. Seger brings to our governing board a wealth of experience from a career in public service, academia and commercial banking," Sandner said. "She is an outspoken believer in free enterprise and the private market economy, values that we hold dear at the Chicago Mercantile Exchange. She joins a distinguished lineup of industry, public and member governors that make our Board the most innovative in the business."
 CME President and Chief Executive Officer William J. Brodsky said: "Dr. Seger's experience on the Federal Open Market Committee, which formulates and implements U.S. monetary policy, will be invaluable in her new role, providing advice for the CME's markets in interest rate, currency, equity index and agricultural futures and options."
 "I'm delighted to receive this appointment," said Seger. "I have been an admirer of the Chicago Mercantile Exchange for years because it's been an innovator in the financial markets."
 Seger was the first woman appointed to a full term on the Federal Reserve Board when she was picked for the post by President Ronald Reagan in 1984. She also chaired the Fed's Consumer and Community Affairs Committee, represented the Fed on the National Women's Business Council and was chairman of the Neighborhood Reinvestment Corp.
 Before entering public service, Seger taught finance and economics at three universities, including her alma mater, the University of Michigan. On leave of absence in 1981-82, she served as Michigan commissioner of financial institutions. Earlier, she was in commercial banking for 10 years, primarily as vice president and chief economist of Detroit Bank & Trust (now Comerica).
 Since leaving the Fed, she has been serving as John M. Olin distinguished fellow in the Eller Center for the Study of the Private Market Economy at the University of Arizona, Tucson. She also serves on the boards of seven major corporations: Xerox, Amoco, Kroger, Fluor, Amerisure, Johnson Controls and Capital Holding.
 As a public governor, Seger joins Robert J. Birnbaum, special counsel for the New York law firm Dechert Price & Rhoads and former president of both the American Stock Exchange and the New York Stock Exchange; former Minnesota Sen. Rudy Boschwitz; Donald Butler, past president of the National Cattlemen's Association and president of Shasta Foods International Inc. in Gonzales, Calif.; and Merton H. Miller, the Robert R. McCormick distinguished service professor of finance at the Graduate School of Business, University of Chicago, and co-winner of the 1990 Nobel Prize in Economics. CME industry governors are Robert B. Feduniak, managing director of Morgan Stanley & Company, New York; Louis I. Margolis, executive vice president, Nomura Securities International, New York; and Laurence E. Mollner, executive vice president, Dean Witter Reynolds Inc., Chicago.
 The remaining 24 members of the Board of Governors are elected from the CME membership for two-year terms.
 -0- 1/21/92
 /CONTACT: Andrew Yemma of the Chicago Mercantile Exchange, 312-930-3434 or (fax) 312-930-3439/ CO: Chicago Mercantile Exchange ST: Illinois IN: FIN SU: PER


TS -- NY069 -- 1825 01/21/92 12:18 EST
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Date:Jan 21, 1992
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