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THE WHITE HOUSE

Office of the Press Secretary

For Immediate Release February 7, 1996

PRESIDENT CLINTON NAMES DAVID D. SPEARS COMMISSIONER, COMMODITY

FUTURES TRADING COMMISSION

President Clinton today announced his intent to nominate David D. Spears of Kansas to serve as a Commissioner on the Commodity Futures Trading Commission (CFTC).

Mr. Spears currently serves as State Director for Senator Robert Dole in Wichita, Kansas, a position he has held since July, 1992. Mr. Spears served as Senator Dole's Legislative Assistant for agriculture and trade from 1989 to 1992. From 1979 to 1989, Mr. Spears served in various positions in the lending division of COBANK (Wichita Bank for Cooperatives/Farm Credit Services), the last of which was Assistant Vice President.

Mr. Spears graduated cum laude with a B.S. in agricultural economics from Kansas State University in 1979. He resides in rural Wichita, Kansas with his wife Pam and their six year old daughter, Kaitlin.

The CFTC is a bi-partisan commission comprised of five Commissioners. The Commission is the federal regulator of all commodity futures and related options markets, including futures on farm goods, metals, crude oil, Treasury debt, foreign currencies and stock market indices. The CFTC is also responsible for assuring the integrity of exchange-traded futures markets, as well as addressing the legal status of off-exchange derivatives.

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