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FRANKLIN D. RAINES ELECTED TO PFIZER BOARD OF DIRECTORS

 NEW YORK, Aug. 27 /PRNewswire/ -- Pfizer Inc today announced the election of Franklin D. Raines, vice chairman of Federal National Mortgage Association (Fannie Mae) and a former general partner at Lazard Freres & Co., to the company's board of directors.
 As vice chairman of Fannie Mae, Mr. Raines is in charge of the company's legal, credit policy, finance and corporate development functions. Fannie Mae is a congressionally chartered, shareholder-owned company and the nation's largest investor in home mortgages. Before joining Lazard Freres & Co., Mr. Raines served from 1977 to 1979 as Associate Director for Economics and Government in the Office of Management and Budget, Executive Office of the President and Assistant Director of the White House Domestic Policy Staff.
 Mr. Raines, 44, is a 1971 graduate of Harvard College and attended Magdelen College, Oxford University as a Rhodes Scholar, doing graduate work in politics. He is also a 1976 graduate of Harvard Law School.
 Mr. Raines serves as chairman of the board of trustees of the German Marshall Fund of the United States and was elected a fellow of the American Academy of Arts and Sciences and a member of the Council on Foreign Relations.
 Pfizer Inc is a research-based, diversified health care company with global operations. The company reported sales of approximately $7.23 billion for 1992.
 -0- 8/27/93
 /CONTACT: Andy McCormick, 212-573-1226, of Pfizer/
 (PFE)


CO: Pfizer Inc ST: New York IN: MTC SU: PER

LG -- NY034 -- 6636 08/27/93 13:03 EDT
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Publication:PR Newswire
Date:Aug 27, 1993
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