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NASD Forms Insurance Agencies To Serve Nasdaq And Amex- Listed Companies - The Nasdaq Issuer Insurance Agency And The American Stock Exchange Insurance Agency Will Provide Exclusive, State-Of-The-Art Access To Insurance Products And Professional Insurance

Date 02/06/2000

The National Association of Securities Dealers, Inc. (NASD®), announced today that it has established the NASD Insurance Agency LLC, an e-driven insurance agency designed to provide Nasdaq® - and Amex® -listed companies with exclusive, one-on-one and online access to custom-designed insurance products and professional risk management consulting services. The NASD Insurance Agency will be doing business as The Nasdaq Issuer Insurance Agency for Nasdaq-listed companies and The American Stock Exchange Insurance Agency for Amex-listed companies. Kenneth Maher has been appointed President and CEO of the agency.

"The NASD Insurance Agency fills an important need ensuring that our listed companies can secure the insurance products and services that are most valuable for their operations - and that they can do so efficiently - either through online access or personal contact," said Michael D Jones, Chief Administrative Officer of NASD.

As a full-service insurance agency, The NASD Insurance Agency provides Nasdaq- and Amex-listed companies with insurance, employee benefit programs, professional insurance risk management consulting services, and information through dedicated account executives and a convenient, secure Web site accessible only to authorized users at Nasdaq- and Amex-listed companies. The Web site allows 24-hour, password-protected access to detailed information that can assist listed companies in assessing various business risks and evaluating and securing solutions to address them. The Agency employs account executives that are licensed insurance professionals. The account executives have the ability to underwrite and bind insurance products that are critical to protect the corporate assets of listed companies.

The Agency offers management, professional, and environmental liability insurance; high-limit liability protection; international insurance coverage; employee benefits programs; and a range of loss prevention services such as corporate governance education programs and crisis and litigation management support. Nasdaq-listed companies can contact the Nasdaq Issuer Insurance Agency by calling 1-888-824-3363 or visiting the Web site at www.nasdaq-insurance.com. Amex-listed companies can call 1-877-353-2349 or visit www.americanstockexchange-insurance.com.

The National Association of Securities Dealers, Inc., is the largest securities-industry, self-regulatory organization in the United States. It is the parent organization of The Nasdaq Stock Market®, The American Stock Exchange® and NASD Regulation®, Inc. For more information about the NASD and its subsidiaries, please visit the following Web sites: www.nasd.com; www.nasdaq.com; www.amex.com; www.nasdr.com; or the Nasdaq Newsroomsm at www.nasdaqnews.com.