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WILLIAM E. SIMON ELECTED TO BROAD INC. BOARD OF DIRECTORS

 WILLIAM E. SIMON ELECTED TO BROAD INC. BOARD OF DIRECTORS
 LOS ANGELES, May 5 /PRNewswire/ -- Former U.S. Treasury Secretary William E. Simon, now chairman of William E. Simon & Sons Inc., has been elected a director of Broad Inc. (NYSE: BRO), a leading financial services company with approximately $14 billion of assets owned or under management.
 The election of Simon expands the Broad Inc. board to nine members, following the addition of Harold M. Williams, president and chief executive officer of the J. Paul Getty Trust and former chairman of the Securities and Exchange Commission, in January.
 Simon, 64, has been chairman of William E. Simon & Sons, a major merchant banking firm based in Los Angeles and New Jersey, since 1988. He is also the former chairman of Wesray Corp. Simon served as Treasury Secretary from 1974 to 1977.
 He is a former director of Xerox Corp., Citicorp, Dart & Kraft Inc. and United Technologies Corp. Simon also is a member of the advisory board of the University of Southern California School of Business Administration; a member of the Executive Board, Administrative Committee and Finance Committee of the United States Olympic Committee; a member of the Board of Trustees of Boston University; and a former member of President Ronald Reagan's Economic Policy Advisory Board.
 Simon holds a bachelor of arts degree in government and law from Lafayette College, Easton, Pa., where in 1986 he established the William E. Simon Center for Economics and Business Administration.
 "Bill Simon brings to our board of directors a truly exceptional background in business, finance and government, and a peerless record of achievement," said Chairman and Chief Executive Officer Eli Broad. "He will be a valuable asset in the direction of our company and we are extremely pleased to have an executive of his calibre join in guiding Broad Inc.'s future."
 Broad Inc. is the parent of SunAmerica Corp., a financial services holding company which markets a wide variety of investment-oriented products and services including annuities, guaranteed investment contracts, mutual funds, investment counseling and trust services through 24,000 sales representatives nationwide.
 -0- 5/5/92
 /CONTACT: Ann Julsen, director of corporate communications of Broad Inc., 310-445-6533/
 (BRO) CO: Broad Inc. ST: California IN: FIN SU: PER


JL -- LA012 -- 6533 05/05/92 11:45 EDT
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Publication:PR Newswire
Date:May 5, 1992
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