Federation of European Securities Exchanges Secretary General To Leave The Federation

At his personal initiative and request, Mr. Paul Arlman, FESE’s Secretary General since 1998, has asked to step down and leave the Federation. The FESE General Assembly, chaired by Mr. Massimo Capuano, President, has expressed its regrets at his decision but has acceded to Mr. Arlman’s request. In mutual agreement between the Federation and the Secretary General, Mr. Arlman will continue in his functions until 1st July 2005, assuming that by that time a successor has been nominated and will be in place.