REMINDER/ISDA European Regional Member Conference and Press Briefings.

Business Editors

REMINDER...for Wednesday (Sept. 17)

--(BUSINESS WIRE)

The International Swaps and Derivatives Association (ISDA) will hold a series of press briefings in London on Wednesday, September 17th, 2003 in conjunction with its annual European Regional Member Conference. Accredited journalists are invited to attend the full day's events, as well as the press briefings.

  WHAT: ISDA EUROPEAN REGIONAL MEMBER CONFERENCE AND PRESS BRIEFINGS
        The press briefings will offer members of the press insight
        into the day's sessions, as well as recent and upcoming
        activities of the Association. The Conference will feature
        a full day of sessions detailing the Association's recent
        activities and key projects. Topics include:

    --  Global Derivatives Public Policy Issues: recent and proposed
        legislation, international accounting regulations, energy
        markets issues, and financial innovation in the global
        derivatives business.

    --  Global Market Perspectives on Derivatives Industry Business
        Issues: tests faced by the privately negotiated derivatives
        markets in further fostering stability in the financial
        marketplace.

    --  Collateral, Technology and Operations Issues: the current ISDA
        collateral agenda, efforts to increase automation and the role
        of FpML to enable electronic communication both internally and
        between firms.

    --  Documentation, Netting and Risk Management: discussion of the
        Association's ongoing documentation initiatives, as well as
        review of the Association's discussions with Basel on the New
        Accord. The upcoming review of the counterparty risk treatment
        of derivative transactions will also be discussed.

   WHO: The 2003 European Regional Member Conference will feature
        leading industry executives and public policy makers,
        including a keynote address and press briefing by Nigel
        Phipps, Senior Officer, CESR Secretariat. ISDA Executive
        Director and CEO, Robert Pickel and ISDA Chairman, Keith
        Bailey and other senior ISDA Board Members and staff will also
        be on hand to answer questions at the press briefings. View
        the complete Conference Agenda at www.isda.org.

  WHEN: SEPTEMBER 17, 2003, 8:15 AM - 5 PM
        PRESS BRIEFINGS:
        Nigel Phipps: 9:45 AM -10:15 AM
        ISDA Board Members: 10:45 AM -11:10 AM, 12:30 PM -1:00 PM

 WHERE: THE CAFE ROYAL
        68 REGENT STREET
        LONDON W1R 6EL

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 600 member institutions from 46 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.

Members of the media planning on attending this invitation-only event, please RSVP to: Jennifer Iannibelli, Kennedy & Company, 914/961-2436 or [e-mail].