Federal Reserve Bank of San Francisco to Break Ground for New Seattle Branch in Longacres Park.

Federal Reserve Bank of San Francisco:

WHO      Federal Reserve Governor Mark Olson; Federal Reserve Bank
         of San Francisco (FRBSF) President & CEO Janet Yellen;
         FRBSF First Vice President & COO John Moore; Chairman of
         the Reserve Bank's Seattle Branch Board of Directors Mic
         Dinsmore; Chief Administrative Officer from the City of
         Renton Jay Covington; Boeing's Vice President of
         Government and Community Relations Robert Watt, Sr.; Vice
         President and Seattle branch manager Mark Gould; and
         Seattle branch cash employee Eugene Wong, representing
         all employees.

WHAT     Brief ceremony with invited civic and community leaders to
         break ground for the new Seattle branch of the Federal
         Reserve Bank of San Francisco.

WHERE    Longacres Office Park
         Oakesdale Avenue SW and SW 27th Street
         Renton, WA 98055

WHEN     2 pm, PDT, Wednesday, August 31, 2005. Site opens at l:30
         for arrivals.

WHY      This marks the start of the construction of a new building
         for the Seattle branch of the Federal Reserve Bank of San
         Francisco. The new branch, which should be completed and
         occupied by end of 2007, will house about 100 employees who
         work in cash services, administration, human resources,
         customer support, community relations and education,
         facilities, procurement, police services and information
         technology. It also will serve as the base for members of
         the branch's Board of Directors, who provide important
         grassroots input to the monetary policymaking process of the
         Federal Reserve System.

VISUALS  Ceremonial groundbreaking, various officials, a 3' X 3'
         scale model and large color renderings of the new building.

CONTACT  Advance Media Reservations recommended. Must present ID
         from news organization for admission.