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GSCC BOARD OF DIRECTORS NAMES THOMAS F. COSTA EXECUTIVE VICE PRESIDENT; TWO NEW VICE PRESIDENTS APPOINTED

 NEW YORK, Dec. 16 /PRNewswire/ -- The Government Securities Clearing Corporation's board of directors recently approved the appointment of Thomas F. Costa to executive vice president.
 Mr. Costa has been associated with GSCC since its 1986 inception, having served as senior vice president from 1989 and first vice president from 1987. He initially joined National Securities Clearing Corporation, of which GSCC is an affiliate, in 1984 as director, regulatory policy, and was later appointed vice president in 1986. Prior to joining NSCC, Mr. Costa was with the National Association of Securities Dealers for 10 years.
 Mr. Costa is a well known and respected member of the securities industry. In addition to his management responsibilities at GSCC, he is a member of the government operations committee of the Public Securities Association.
 Mr. Costa holds a B.A. in accounting and economics from Queens College. He is married and has two children.
 The board also announced two promotions:
 -- Thomas A. Quaranta, vice president of participant services.
 -- Jeffrey Mini, vice president of systems development
 Government Securities Clearing Corporation, established in 1986, provides centralized clearance and settlement services to over 70 interdealer brokers, dealers and clearing banks for treasury bills, bonds and notes, STRIPS and non-mortgaged-backed agency securities. GSCC is an affiliate of National Securities Clearing Corporation, the nation's leading provider of clearance and settlement services for equities, bonds and mutual funds transactions.
 -0- 12/16/92
 /CONTACT: Cynthia Stern of National Securities Clearing Corporation, 212-412-8458/


CO: Government Securities Clearing Corporation ST: New York IN: FIN SU: PER

SM-KW -- NY074 -- 7855 12/16/92 16:02 EST
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Publication:PR Newswire
Date:Dec 16, 1992
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