New General Counsel

I am delighted to report that I have hired Emily Jelich of Royal Bank of
Canada as the new ISDA General Counsel. Hiring a GC is a great relief to me,
and the fact that Emily has agreed to join us is significant as she has
worked on a number of ISDA initiatives over my tenure as General Counsel.
She is an extremely dedicated ISDA supporter and has brought a thoughtful
perspective to the issues she has been involved with. She will be a strong
addition to our active documentation and netting initiatives.

Emily has worked for the past six years in the legal department at Royal
overseeing many different aspects of their capital markets legal work. Prior
to that she was with the law firm of Blake Cassels and Graydon, formerly an
ISDA member. She has spoken at our Canadian conferences and was also on the
panel at this year's AGM that discussed the Strategic Documentation Review.
In addition to this experience, she is fluent in Russian and Serbo-Croatian,
so we are all set to go when those markets open up!

Emily will start on June 18 and will be based in New York.

Bob