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Office of the Press Secretary

For Immediate Release February 13, 1995

The President today announced his intention to nominate Gloria Rose Ott and Harvey Sigelbaum to the Board of Directors of the Overseas Private Investment Corporation, one of the Administration's foreign assistance and business development agencies.

Gloria Rose Ott is president of GO Strategies, an international trading and investment company. She has participated in investment and development activities for more than 15 years, advising numerous businesses on their alliances and international expansion strategies. Ott is also the founding CEO and Chair of the Board of Manufacturing Technologies, an initiative focusing on integrating clean and agile manufacturing practices with new technological innovations and factories. She resides in San Jose, CA.

Harvey Sigelbaum is president and CEO of Amalgamated Life Insurance Company, a New York based insurer specializing in employee benefits coverage. Previously he served in the same capacity for the Urban Community Insurance Company, where he helped provide property and casualty insurance for cooperates and trade unions. Sigelbaum has served as chairman of the National Cooperative Business Association and the National Cooperative Bank, and is presently the chairman of the National Association on Drug Abuse Problems. Sigelbaum has been a member of the New York Bar since 1963 and resides in New York.

The President also announced his intention today to renominate to full three-year terms on the OPIC Board George Kourpias, and John Chrystal, both of whom were previously confirmed for their first term on the OPIC board on Nov. 20, 1993.

George Kourpias is president of the International Association of Machinists and Aerospace Workers (IAM). He has also served on the Executive Council of the AFL- CIO as member of the economic policy and public relations committees and as chairman of the older and retired workers committee. Kourpias is an active member of the Democratic National Committee, and currently resides in Silver Spring, MD.

John Chrystal is chairman of Iowa Savings Bank and co-chairman of Iowa International Development Foundation. Previously, Chrystal served as the bank's president and Chairman and CEO of Bankers Trust Company. He was as an agricultural adviser to the former Soviet Union and, more recently, to various CIS member states. Chrystal resides in Coon Rapids, IA.

A U.S. Government agency, OPIC helps American businesses invest overseas by providing loans, loan guarantees, and other services. Since 1971, OPIC has supported more than $73 billion in U. S. private investment overseas, generated $40 billion in U.S. exports, created more than 100,000 American jobs.