MSRB Names Jennifer Galloway Chief Communications Officer

Date: May 5, 2008

Contact:           Lynnette Kelly Hotchkiss, Executive Director
                       (703) 797-6600

MSRB Names Jennifer Galloway Chief Communications Officer

Alexandria, VA - The Municipal Securities Rulemaking Board (MSRB), a self-regulatory organization formed by Congress in 1975, has appointed Jennifer Galloway to the newly created position of Chief Communications Officer, MSRB Executive Director Lynnette Kelly Hotchkiss announced today. Galloway brings nearly 20 years of communications experience to MSRB, with a career that spans financial services, corporate communications and journalism.

MSRB's Board of Directors recently created the communications position to oversee the board's corporate communications functions, especially as it rolls out its Electronic Municipal Market Access (EMMA) system and enhances its research capabilities.

"We are delighted that Jennifer is joining MSRB at this critical juncture," said Frank Chin, MSRB Chairman of the Board. "MSRB is launching a groundbreaking market information system, developing its research functions and completing the New Issue Information Dissemination System," he said."Jennifer's arrival will enable MSRB to effectively reach its constituents and get out the good word about all our initiatives."

Prior to joining MSRB, Galloway was director of corporate development at BulletinNews, a news monitoring company. Earlier she worked in corporate communications for SLM Corp. and J.&W. Seligman & Co., and also served as managing editor for LatinFinance magazine.

Galloway received her bachelor's degree from Cornell University and her master's from the University of Missouri-Columbia School of Journalism.

The MSRB protects investors, state and local governments and other municipal entities, and the public interest by promoting a fair and efficient municipal securities market. The MSRB fulfills this mission by regulating the municipal securities firms, banks and municipal advisors that engage in municipal securities and advisory activities. To further protect market participants, the MSRB provides market transparency through its Electronic Municipal Market Access (EMMA®) website, the official repository for information on all municipal bonds. The MSRB also serves as an objective resource on the municipal market, conducts extensive education and outreach to market stakeholders, and provides market leadership on key issues. The MSRB is a self-regulatory organization governed by a 21-member board of directors that has a majority of public members, in addition to representatives of regulated entities. The MSRB is overseen by the Securities and Exchange Commission and Congress.