Fiscal Year 1986 Board Members

Public Representatives

Michael M. Horn[1] (Chair)
State of New Jersey

Peter J.D. Gordon
T. Rowe Price Associates Inc.

Leonard M. Leiman
Reavis and McGrath

Thomas H. Locker
Orange County, California

Walter P. Stern
Capital Research Company

Securities Firm Representatives

H. Keith Brunnemer, Jr.
First Charlotte Corporation

W.J. Turner L. Cobden
Smith Barney, Harris Upham and Co.

Terrence E. Comerford
PaineWebber Inc.

Robert N. Downey (Vice Chair)
Goldman, Sachs and Co.

Samuel A. Ramirez
Samuel A. Ramirez and Co., Inc.

Bank Representatives

James B.G. Hearty
Bank of Boston

Ralph Horn
First Tennessee Bank, N.A.

Gerald Timothy Lane
Barnett Bank of Florida, Inc.

Stephen C. Stone
Cullen/Frost Bank

Byron G. Thompson
Country Club Bank