Sally Smedal of Basic American Foods Assumes Chairmanship of Association for Financial Professionals Board

Bethesda, MD – February 15, 2005 – Sally Smedal, treasurer and controller at Basic American Foods, has assumed the chairmanship of the Association for Financial Professionals Board of Directors succeeding Denise Laussade, vice president of finance, Dan River Inc. Elected by the AFP membership, Smedal will serve as AFP board chairman for a two-year term.

In announcing Smedal’s chairmanship, Laussade said, "Sally has long been an active and creative member of the AFP volunteer leadership team, most recently serving as vice chairman of the AFP Board. Under Sally's direction, AFP will continue as the preferred global resource and advocate for the finance profession.”

Ira M. Birns, vice president and treasurer at Arrow Electronics, Inc., and Loren Starr, senior vice president and chief financial officer, Janus Capital Group Inc. were elected vice chairmen of the AFP Board.

“AFP provides great value to its members” said Smedal “I’m excited about this opportunity to work with a dynamic team of leaders to guide AFP as it develops new and innovative resources for our membership.”

Sally Smedal was first elected to the AFP Board of Directors in 2001. Prior to joining Basic American Foods in 1994, she worked for Chevron Corporation (now ChevronTexaco) in their Finance organization. Ms. Smedal earned a BS in Business Administration from Oregon State University and an MBA from the University of California at Berkeley.

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The Association for Financial Professionals (AFP) in Bethesda, Maryland, supports more than 14,000 individual members from a wide range of industries throughout all stages of their careers in various aspects of treasury and financial management. AFP is the preferred resource for financial professionals for continuing education, financial tools and publications, career development, certifications, research, representation to legislators and regulators, and the development of industry standards. For more information about AFP visit www.AFPonline.org