Fiscal Year 1991 Board Members

Public Representatives

John B. Cregan
General Reinsurance Corp.

Richard M. Evans
City of Savannah

Charles W. Fish
Fish and Lederer Investment Counsel

John M. Gunyou
City of Minneapolis

Katharine C. Lyall
University of Wisconsin System

Securities Firm Representatives

Michael C. Delaney
Goldman, Sachs and Co.

David E. Hartley (Chair)
Stone and Youngberg

John C. Merritt
Van Kampen Merritt Inc.

R. Fenn Putman (Vice Chair)
Dean Witter Reynolds, Inc.

Dean J. Torkelson
Seattle Northwest Securities Corporation

Bank Representatives

Amos T. Beason [1]
First Commerce Corp.

Robert C. Brown [2]
Norwest Investment Services, Inc.

Peter T. Clarke
J.P. Morgan Securities, Inc.

Harry R. Larson
First Chicago Capital Markets

Richard D. Thayer [3]
Citizens and Southern Securities Corporation

[1] Term commenced September 17, 1990.

[2] Term commenced August 1, 1990.

[3] Term commenced March 8, 1990.