Nomination of George H. Pfau, Jr., To Be a Director of the Securities Investor Protection Corporation

The President today announced his intention to nominate George H. Pfau, Jr., of California, to be a Director of the Securities Investor Protection Corporation for a term expiring December 31, 1993. He would succeed Frederick N. Khedouri.

Since 1979 Mr. Pfau has served as senior vice president for Paine Webber in San Francisco, CA. Prior to this, Mr. Pfau served as first vice president in the corporate finance department at Blyth, Eastman, Dillon, 1978 - 1979. Mr. Pfau served in several capacities with White, Weld and Co., Inc., 1957 - 1978.

Mr. Pfau graduated from Yale University (B.S., 1948). He was born May 7, 1924, in Milwaukee, WI. Mr. Pfau served in the U.S. Army Corps of Engineers, 1942 - 1944. Mr. Pfau is married, has four children, and resides in San Francisco, CA.