ISDA Delegates Elect 11 Board Members.

BARCELONA, Spain -- Delegates to the Annual General Meeting of the International Swaps and Derivatives Association (ISDA) in Barcelona, Spain elected eleven directors today, nine of whom currently serve on the Association's Board.

The newly elected director is:

--Mark Davies, Senior Managing Director, Bear Stearns

The re-elected directors are:

--Kaushik Amin, Managing Director, Co-Head of Global Interest Rate Products, Lehman Brothers Inc.

--Michael Bass, Global Head, Interest Rate Derivatives, Standard Chartered Bank 

--Marcelo Castro, Head of Treasury for Europe, Grupo Santander Central Hispano

--Benoit de Vitry, Global Head of Commodities and Emerging Market Rates, Barclays Capital

--Hidetaka Hara, Executive Director, Global Markets Planning Department, Nomura Securities Co., Ltd

--Frederic Janbon, Managing Director and Global Head of Fixed Income Trading, BNP Paribas

--Robert Lawson, Global Business Unit Leader, Finance, Energy & Risk Management, BP Oil International Limited

--Ernest Patrikis, Senior Vice President and General Counsel, American International Group, Inc.

--Eraj Shirvani, Managing Director, Head of European and Pacific Credit Trading, Credit Suisse First Boston Europe Limited

--Giovanni Gorno Tempini, Chief Executive Officer and Managing Director, Banca Caboto

Mr. Lawson and Mr. Tempini were first elected to the ISDA Board in January, 2005.

The directors continuing on the Board are:

--Douglas Bongartz-Renaud, Managing Director, Group Risk Management Division, ABN Amro Bank N.V.

--Michele Faissola, Managing Director and Global Head of Rates, Global Markets Division, Deutsche Bank

--Diane Genova, Managing Director & Co-General Counsel Investment Bank, J.P. Morgan Chase & Company

--Yusaka Manabe, Deputy General Manager, Business Development Office, Structured Products Division II, Mitsubishi Securities Co., Ltd.

--Jonathan Moulds, Head of International Debt and Equity Markets, Bank of America 

--Sean Notley, Managing Director, Co-Head of Global Interest Rate Derivatives & Government Bond Trading, Morgan Stanley

--Riccardo Rebonato, Global Head of CBFM Market Risk and Head of Quantitative Research & Quantitative Sales, FM, Royal Bank of Scotland 

--Thomas Riggs, Managing Director, Goldman Sachs

--Kenneth Tremain, Managing Director, Head of North American Interest Rate Derivative Trading and Government Bond Trading, Citigroup

About ISDA

ISDA is the global trade association representing leading participants in the privately negotiated derivatives industry. ISDA was chartered in 1985, and today has more than 625 member institutions from 47 countries on six continents. These members include most of the world's major institutions that deal in privately negotiated derivatives, as well as many of the businesses, governmental entities and other end users that rely on over-the-counter derivatives to manage efficiently the financial market risks inherent in their core economic activities. Information about ISDA and its activities is available on the Association's web site: www.isda.org.