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Boston Stock Exchange Elects Three New Members To 2002 Board

Date 11/02/2002

Kenneth R. Leibler, Chairman and Chief Executive Officer of the Boston Stock Exchange, today announced the election of three new Governors to the Board.

The new Governors elected to serve two-year terms are: David F. Denison, President, Institutional Brokerage Group, Fidelity Investments; Deborah C. Jackson, Chief Executive Officer, American Red Cross of Massachusetts Bay; and W. Robert Mudge, Region President of New England, Verizon Communications, Inc. They replace outgoing Governors Robert L. Caporale, Charles T. Harris, and Robert P. Mazzarella.

"The Boston Stock Exchange is extremely fortunate to attract such outstanding business and community leaders to its Board, said Mr. Leibler. "David, Deborah, and Robert bring a wealth of experience and stature that will be invaluable as we continue to grow and expand our business."

New BSE Governor Profiles

David F. Denison, President, Institutional Brokerage Group, Fidelity Investments. Mr. Denison has held a variety of positions since joining the firm in 1995. In his current position, which he has held since November 2000, Mr. Denison is responsible for the three main business units that make up Fidelity's Institutional Brokerage Group - capital markets, correspondent services, and registered investment advisors services. Before joining Fidelity, he was Chief Operating Officer and Director for Bunting Warburg, Inc. from 1994 to 1995, and Chief Financial Officer and Director for William Mercer Ltd. from 1991 to 1994. Mr. Denison has also held positions within other organizations including Midland Walwyn Capital, Inc., S.G. Warburg, Merrill Lynch & Co., Inc., and Price Waterhouse. Mr. Denison currently serves on the Board of Directors of the Boston Lyric Opera Company, and Investment Funds Institute of Canada.

Deborah C. Jackson, Chief Executive Officer, American Red Cross of Massachusetts Bay.

Ms. Jackson joined the American Red Cross in her current capacity in January 2002. Previously, she was Vice President for Programs at the Boston Foundation where she oversaw the growth and development of the Foundation's grant programs and initiatives, which distributed more than $50 million to nonprofit organizations in the Greater Boston area in 2000. Prior to joining the Foundation, Ms. Jackson was Senior Vice President for Network Development and Community Service at Children's Hospital of Boston. Prior to that, she served as the chief executive of two of Boston's important nonprofit organizations - President and CEO of Morgan Memorial Goodwill Industries, Inc., and earlier, as Executive Director of the Roxbury Comprehensive Community Health Center. In addition to her professional roles, Ms. Jackson has served the city of Boston through her work on numerous commissions, task forces, and board-level committees. She is currently a Director on the Boards of Eastern Bank, Boston College Carroll School of Management, American Student Assistance Corporation, and the Anna B. Stearns Charitable Foundation. Ms. Jackson is also on the Board of Overseers of Partners Healthcare System.

W. Robert Mudge, Region President of New England, Verizon Communications, Inc.

Mr. Mudge has held his current position at Verizon since November 2001. In this role, he is responsible for building and maintaining the company's seven million phone lines in five New England states. Prior to this position, Mr. Mudge was President of Massachusetts for Verizon, with overall responsibility for the company's regulatory, service quality, and capital investments in the Commonwealth. He began his career with New England Telephone in 1983. Mr. Mudge currently serves as Director of the Gibraltar Telephone Company, which is part of Verizon's expanding international operations. He is also on the Board of Directors of the Artery Business Committee, Massachusetts Taxpayers Foundation, The New England Council, YMCA of Greater Boston, and the Urban League of Eastern Massachusetts. Additionally, Mr. Mudge sits on the Board of the Boston Private Industry Council, where he chairs the Workforce Development Committee, and is a member of the Governor's Council on Economic Development and the Governor's Task Force on Electronic Government.

About the BSE Board of Governors

Additional members of the BSE Board are as follows: Stephen D. Barrett, Co-Chairman and Chief Executive Officer, H.C. Wainwright & Co., Inc.; Neil W. Conary, Principal, Ward, Conary, & Murphy, Inc.; S. James Coppersmith, Vice Chairman, The Rasky/Baerlein Group; William F. Devin, Director/Trustee, SunAmerica Asset Management, Inc.; David A. Herron, Vice President, Charles Schwab & Co., Inc.; Daniel M. Joyce, Executive Vice President, Moors & Cabot, Inc.; Kenneth M. King, President, K & S, Inc.; Andrew W. Lo, PhD., Professor of Finance, MIT Sloan School of Management and Director, MIT Laboratory for Financial Engineering; Nicholas A. Lopardo, Vice Chairman (retired), State Street Corporation; Richard F. Lynch, Senior Vice President and Director of Equity Trading, Prudential Securities, Inc.; Joseph M. Marinaro, Managing Director for Specialist and Exchange Trading, SG Cowen Securities Corporation; Mary McDermott-Holland, Senior Vice President of Trading, Franklin Portfolio Associates; Bruce K. Newell, Vice President, Pershing Trading Company, L.P. and Vice Chairman of the Board; Brian L. Riddell, Principal, Riddell & Associates; Linda M. Sarkisian; William J. Shea, President, Conseco, Inc.; Leo J. Smith, Senior Vice President, Putnam Investments, Inc.; and Grady G. Thomas, Jr., President, The Interstate Group/Division of Wachovia Securities, Inc.