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For Immediate Release
February 22, 2000

For more information contact:
Laura M. Oatney
(312) 781-1370 or
Jennifer Bucko
(312) 781-1373

NFA's Board of Directors hold elections

February 22, Chicago - National Futures Association's Board of Directors re-elected Charles P. Nastro, managing director/director of Futures, Lehman Brothers, Inc., New York, NY, to serve a one-year term as chairman of the Board at their meeting on February 17. The Board of Directors also re-elected Frederick G. Ulhmann, senior vice-president, E.D. & F. Man International, Inc., Chicago, IL to serve a one-year term as vice-chairman.

Board members re-elected Alan J. Dixon, St. Louis, MO; Warren W. Lebeck, Pinehurst, NC; Bruce F. Osborne, president, Harris Bank-Winnetka, Winnetka, IL; and Todd E. Petzel, executive vice president and chief investment officer, Commonfund, Wilton, CT, to serve three-year terms as public directors. The Board also elected Susan M. Phillips, dean of the School of Business and Public Management, the George Washington University, Washington, D.C., to serve as a public director until 2002.

The Board of Directors elected the following individuals to serve one-year terms on NFA's Executive Committee. Representing contract markets are M. Scott Gordon, chairman of the Board, Chicago Mercantile Exchange, Chicago, IL and Joseph J. O'Neill, president, New York Cotton Exchange, New York, NY. Representing futures commission merchants are Douglas O. Kitchen, managing director, Rosenthal Collins Group, Nashville, TN; Michael R. Schaeffer, executive vice-president, Salomon, Smith Barney, Inc., New York, NY; and Mr. Ulhmann. Elected to represent commodity pool operators and commodity trading advisors respectively are George E. Crapple, vice chairman and co-CEO, Millburn Ridgefield Corp., Greenwich, CT; and Douglas L. Bry, president, Northfield Trading, LP, Denver, CO. Mr. Petzel was elected to the public director position on the Committee. Mr. Nastro and NFA President Robert K. Wilmouth also serve on the Executive Committee.

NFA is a congressionally authorized self-regulatory organization for the U.S. futures industry.

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