NASD Appoints Dan B. Franks as Senior Vice President of Nasdaq Market Operations

The Nasdaq Stock Market® today announced the appointment of Dan B. Franks as Senior Vice President of Market Operations, effective August 30, 1999. Franks will be responsible for the department that oversees the day-to-day market operation of Nasdaq®. Market Operations serves as the primary communications link to Nasdaq Market Makers and responds to market needs in times of emergency market conditions. "Dan's vast experience in trading Nasdaq equities will be of great value as small and large investors, alike, demand-and increasingly get-instant access to information and immediate execution of trades. While we continue to experience record growth in trading volume and market value, he will help us continue to meet the needs of investors, issuers and members. We are extremely pleased to have Dan's presence in a such a critical part of our operation," said J. Patrick Campbell, Chief Operating Officer of The Nasdaq-Amex Market Group®, Inc. Franks, 53, served for the past 14 years as Senior Vice President of Trading at Scott & Stringfellow, Inc., in Richmond, Virginia. Prior to his employment at Scott & Stringfellow, Franks served as a Nasdaq trader for Wheat First Securities of Richmond, Virginia. Franks has been a Nasdaq trader since 1969, when he began his career with Doyle, O'Conner & Company in Chicago, Illinois. After four years in Milwaukee, Wisconsin as a Nasdaq trader for Robert W. Baird & Company, Franks returned to Chicago in 1975, spending the next five years trading for Bacon, Whipple & Company. Majoring in economics, Franks earned a Bachelor of Science degree from Indiana University. He is a member of the Security Traders Association Nominating Committee, the NASD District 7 Committee, the Nasdaq Quality of Markets Committee, the Nasdaq NNOTC Committee, and the NASDR Series 55 Exam Committee. The Nasdaq Stock Market® lists nearly 5,000 companies, trades more shares per day than any other major U.S. market, and has the largest trading dollar volume of any securities market in the world. Nasdaq® operates under the management of The Nasdaq-Amex Market GroupSM, a subsidiary of the National Association of Securities Dealers, Inc. (NASD®), the largest securities-industry, self-regulatory organization in the United States. For more information about Nasdaq, visit the Nasdaq-Amex Web site at www.nasdaq-amex.com or the Nasdaq-Amex NewsroomSM at www.nasdaq-amexnews.com.