Nomination of Jesse D. Winzenried To Be Director of the Securities Investor Protection Corporation, and Designation as Vice Chairman

The President today announced his intention to nominate Jesse D. Winzenried to be Director of the Securities Investor Protection Corporation for a term expiring December 31, 1990. He would succeed Roger A. Yurchuck. Upon confirmation, he will be designated Vice Chairman superseding the announcement of December 11, 1987, naming Frank G. Zarb as the intended Vice Chairman.

Mr. Winzenried has served with Crown Central Petroleum Corp. as group vice president, director, and member of the executive committee of the board of directors, 1974-1981. Prior to this, he was vice president of the Coastal States Gas Corp., 1969-1974.

Mr. Winzenried graduated from the University of Wyoming (B.S., 1945), the University of Denver (M.S., 1946), and New York University (Ph.D., 1955). He was born June 13, 1922, in Byron, WY. He served in the United States Air Corps, 1942-1943. Mr. Winzenried has three children and resides in Cody, WY.