GARP GAB

News And Views From The Global Association Of Risk Professionals

Membership:

GARP now has over 6,200 members representing over 85 countries. Individual membership in GARP is free and can be gotten through our internet site. http://www.garp.com.

Update from Russia

Moscow-GARP-Russia held a brain storming session. The meeting was aimed at formulating the GARP-Russia mission, as well as defining the tasks and targets of the association. The Brainstorming session was held in the PricewaterhouseCoopers building.

There were 10 participants from the following companies and organizations: PricewaterhouseCoopers, IBG "NIKoil", MICEX, Sberbank, Center of Applied Prognostics, "Interros Fincom" and other companies.

We applied the Paretto principle in the brainstorm methodology. The participants presented 16 proposals to be included into the GARP-mission and 24 variants of tasks and targets of the association."

New Regional Directors

GARP is pleased to announce the appointment of two new regional directors to take over the activities in Houston and Italy.

Frank Hayden will be the new Regional Director in Houston, Texas. He is currently a member of the Energy Risk Management practice at KPMG. Frank has worked in the risk management industry for the past ten years, as both a trader and risk manager. Frank can be reached via e-mail at: [e-mail].

Serving as Regional Director-Italy, will be Emerico Amari. He is a founding partner of MACFIN, an Italian management consulting firm specializing in the financial institutions industry. Emerico is a frequent speaker at seminars and conferences, and the author of publications on banking management topics. Emerico can be reached via e-mail at: [e-mail]

GARP would also like to thank outgoing Regional Directors, Glen Labhart and Stefano Comola for their time and effort.

General Meeting Announcements

Houston

Date: Tuesday, June 29, 1999

Time: 6:00 p.m. to 8:00 p.m.

Topic: Managing Credit Exposures

Panelists: Bill Bradfor, Enron

Maruti More, American General

Duncan Palmer, Shell Capital

Hosted and

Sponsored by:KPMG

700 Louisiana Street

Suite 3100

Registration Instructions:

There is no cost to attend this event, however you must register. Security requires that we provide a list of registrants. To register please send an e-mail to [e-mail]. Refreshments will be served.