Top Pension Fund Group Joins The Association For Financial Professionals

BETHESDA, MD - May 10, 2000 - CIEBA, the organization that represents more than 140 of the country's largest pension funds today announced that it has affiliated with the Association for Financial Professionals (AFP). AFP represents more than 14,000 financial professionals at more than 5,000 corporations and organizations.

The pension fund group, the Committee on Investment of Employee Benefit Assets, better known as CIEBA, will become the voice of AFP on employee benefit plan asset management and investment issues. Collectively, CIEBA's members manage more than $1 trillion of plan assets, representing 15 million plan participants and beneficiaries.

As part of the agreement that takes effect June 1, 2000, AFP will assist efforts to further strengthen CIEBA's highly respected voice in the legislative and regulatory arena. AFP also will provide administrative and logistical support for CIEBA's operations, including development and maintenance for CIEBA's Web site, and offer educational opportunities and information sharing among members.

"We are delighted that CIEBA will be affiliated with AFP," said Nolan L. North, CCM, AFP's chairman of the board, and T. Rowe Price Associates, Inc.'s vice president and assistant treasurer. "AFP and CIEBA's members will benefit from the combined wealth of knowledge and influence that both organizations bring to the financial community. CIEBA's expertise in pensions and investments is a perfect fit for AFP."

Allen Reed, chairman of CIEBA, said, "We are looking forward to working with AFP in developing both public policy and investment practices that will benefit the thousands of participants belonging to the retirement plans of our members."

Jacque Johnson, executive director of CIEBA, will become vice president, CIEBA at AFP and will continue to be the primary CIEBA contact in the Bethesda office.

The Association for Financial Professionals in Bethesda, Maryland, formerly the Treasury Management Association, has grown in the past 20 years into a community of more than 14,000 individuals representing a broad spectrum of financial disciplines. AFP turns knowledge into performance by supporting members throughout all stages of their careers with research, continuing education, career development, professional certifications, publications, representation to key legislators and regulators, and the development of industry standards.

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