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THE WHITE HOUSE

Office of the Press Secretary

For Immediate Release June 20, 1995

          President Names James C. Rosapepe as a Member of the
                    Albanian-American Enterprise Fund

The President today announced that James C. Rosapepe of College Park, Md. has been named to serve on the Board of Directors of the Albanian-American Enterprise Fund.

Rosapepe joins the Fund's Board, which is chaired by Domenick G. Scaglione, founder and CEO of Intercontinental Associates Inc., a trade and investment advisory firm.

Rosapepe is a confounder and owner of the Washington Financial Group, which provides financial advisory, banking and management services to public, private and non-profit clients, and of Fingerhut/Granados Opinion Research, a national market and survey research firm. Rosapepe also served on Capitol Hill as a legislative assistant to Sen. Fred Harris (D-Okla.) and Rep. Andrew Maguire (D-N.J.) in the early and mid-1970s. He has served as a member of the Maryland House of Delegates since 1987.

The Fund was initially established on Feb. 28, 1995. It has opened an office in New York and plans to open an office in Tirana, the capital of Albania, by the end of July. The Fund has authority to provide equity and debt financing, as well as related technical assistance, to small and medium-sized businesses in the emerging private sector in Albania. The Fund will work at being a catalyst for major infrastructure projects in Albania, and will place special emphasis on supporting joint ventures that include U.S. and other Western strategic investors.