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THE WHITE HOUSE

Office of the Press Secretary

For Immediate Release May 6, 1997

PRESIDENT NAMES JAMES A. HARMON TO HEAD THE EXPORT-IMPORT BANK OF

THE UNITED STATES

The President today announced his nomination of James A. Harmon as President and Chairman of the Export-Import Bank of the United States.

In his announcement, the President said: "I am proud to have someone of Jim Harmon's integrity and his experience, particularly in creating export-related jobs, at the helm of the Export- Import Bank as we seek to expand markets for U.S. goods and services in the 21st Century marketplace."

Mr. Harmon, of New York City, currently serves as Senior Chairman of Schroder Wertheim & Co., Incorporated, an international investment bank headquartered in New York City. Mr. Harmon is a former member of the Advisory Committee on International Capital Markets and Chairman of the Nominating Committee of the Board of Governors of the New York Stock Exchange, Inc., as well as a member of the Board of Directors of the Securities Industry Association. Mr. Harmon holds a B.A. from Brown University and an M.B.A. from The Wharton Graduate School of the University of Pennsylvania.

The Export-Import Bank facilitates export financing of U.S. goods and services by matching export credit subsidies from foreign governments and by absorbing reasonable credit risks that are beyond the current scope of the private sector. In addition, the Export-Import Bank assists U.S. exporters in obtaining pre-export financing by guaranteeing export-related working capital loans from commercial lenders; guaranteeing loans made by foreign buyers; providing insurance assistance to the export community; and encouraging the purchase of U.S. goods through competitive, fixed-rate loans.

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