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JACK L. RIVKIN JOINS SMITH BARNEY IN NEW POST AS HEAD OF GLOBAL RESEARCH

 NEW YORK, May 10 /PRNewswire/ -- Jack L. Rivkin, former director of Research and head of the Equity Division at Shearson Lehman Brothers Inc., has joined Smith Barney to assume the newly created post of Director of Global Research, it was announced today by Frank G. Zarb, Smith Barney's chairman and chief executive officer.
 Mr. Rivkin, a broadly experienced executive with a management background in research, trading, venture capital and asset management, will report to Mr. Zarb. He also becomes a member of the firm's executive committee and was named a senior executive vice president. His appointment is effective May 17.
 In his new responsibilities, Mr. Rivkin will oversee the expansion of Smith Barney's research, and particularly international research, which currently concentrates on coverage of the emerging markets of South and Central America, and economic and fundamental analysis in the European and Asian markets. The firm has developed affiliations with Spanish and Asia-based firms for research services.
 As director of U.S. Research, John B. Hoffman will continue to have responsibility for all domestic research services, a professional staff of 60, including analysts covering more than 700 companies, and the technical economic and credit market research groups. Mr. Hoffman, an executive vice president, joined Smith Barney as an analyst in 1969. In the new structure, he reports to Mr. Rivkin.
 Mr. Rivkin's appointment anticipates the proposed merger of Smith Barney and the retail and asset management businesses of Shearson Lehman Brothers in early July. The prospective combined sales organization of the merged firm would number approximately 11,000 brokers.
 "Investors' appetites for diversifying their holdings outside our borders is growing and prompting a more focused effort in expanding our coverage of overseas companies and industries," Mr. Zarb said. "Jack's experience in that arena and particularly in working with large retail sales organizations add a significant dimension to our research capability. He complements John Hoffman's 25 years of experience in the domestic Smith Barney system and together, I think they will create one of the strongest research units in the industry."
 Mr. Rivkin said he was well aware of Smith Barney's high quality research standards and its standing in the institutional investor community. "I'm delighted to join this well-regarded team of professionals who make the firm's goal all that much more achievable...to provide, now with a serious international quotient, the best research product around for all Smith Barney's client constituencies."
 Early in his 25-year career in the securities business, Mr. Rivkin was an analyst in the airlines and aerospace industries. In 1973, he was named associate director of Research at Mitchell Hutchins, and in 1977, after its acquisition by Paine Webber, became director of Research for the combined operations. In 1980, he became chief financial officer of Paine Webber, then ran its institutional brokerage and asset management arm, Paine Webber Mitchell Hutchins; in 1984, he took over its direct investment operations, Paine Webber Capital.
 He joined Shearson Lehman Brothers in 1987 as director of Research; in 1990, Shearson became the top ranked firm in Institutional Investor's All America Research Team poll, from 15th position in 1986.
 In 1990, Mr. Rivkin was named co-director of the Equity Division of Lehman Brothers, the capital markets and investment banking arm of Shearson Lehman, and in 1991, director of the equity division, with responsibilities for global research, and trading and distribution of all equity and equity-related securities for Lehman. He resigned from Lehman in 1992.
 Mr. Rivkin is a graduate of the Colorado School of Mines and earned a MBA from Harvard Graduate School of Business Administration. He is a co-author of a history of venture capital in the U.S., Risk & Reward: Venture Capital and America's Great Growth Industries, and is a lecturer on the subject at Columbia University Graduate Business School. He and his family live in Amagansett, N.Y.
 Smith Barney is a wholly-owned subsidiary of Primerica Corporation, the diversified financial services company, with assets of more than $25 billion.
 -0- 5/10/93
 /CONTACT: Bob Connor of Smith Barney, 212-698-3123/


CO: Smith Barney ST: New York IN: FIN SU: PER

LR-KW -- NY044 -- 6481 05/10/93 12:07 EDT
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Date:May 10, 1993
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