David S. Pottruck Elected To NASD Board of Governors

The National Association of Securities Dealers, Inc. (NASD®), today announced the election of David S. Pottruck to its Board of Governors. Pottruck is President, Co-Chief Executive Officer, and a member of the Board of Directors of The Charles Schwab Corporation and will fill the remaining term of Jon S. Corzine. The NASD Board of Governors acted upon the recommendation of its nominating committee during its regularly scheduled meeting on July 29. "David's wealth of experience and unquestioned leadership abilities will be immeasurable assets to the NASD," said Frank G. Zarb, NASD Chairman and CEO. "He brings a vision that will help us move our market into the next millennium-when investors will be connected globally, 24 hours a day-while maintaining the cornerstones of investor interest and public trust." Pottruck oversees all of Schwab's businesses and strategic developments worldwide. Since joining Schwab in 1984, client assets have climbed from $5.1 billion to $592 billion as of June 1999. He also serves on the Board of Directors of Intel Corporation; McKesson HBOC Inc.; Preview Travel, Inc.; the Bay Area Sports Organizing Committee and the U.S. Ski and Snowboard Team Foundation. Additionally, he is a Trustee of the University of Pennsylvania and a Commissioner on the Federal Advisory Commission on Internet Commerce. In 1970, Pottruck earned a B.A. degree from the University of Pennsylvania. He received an M.B.A. with honors in 1972 from The Wharton School at the University of Pennsylvania. The National Association of Securities Dealers, Inc. (NASD), is the largest securities-industry, self-regulatory organization in the United States. It is the parent organization of The Nasdaq-Amex Market Group, Inc., and NASD Regulation, Inc. Through The Nasdaq-Amex Market GroupSM, the NASD operates The Nasdaq Stock Market® and the American Stock Exchange®. Through its regulatory subsidiary, the NASD develops rules and regulations, provides a dispute resolution forum, and conducts regulatory reviews of member activities for the protection and benefit of investors. The NASD oversees the nation's 5,600 brokerage firms and more than 600,000 registered brokers. For more information about the NASD and its subsidiaries, please visit the following Web sites: www.nasd.com; www.nasdaq-amex.com; www.nasdr.com; or the Nasdaq-Amex NewsroomSM at www.nasdaq-amexnews.com.