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THE WHITE HOUSE

Office of the Press Secretary

For Immediate Release July 24, 1998

                        PRESIDENT CLINTON NAMES 
          ROBERT MALLETT AS A MEMBER OF THE BOARD OF DIRECTORS 
             OF THE OVERSEAS PRIVATE INVESTMENT CORPORATION

The President today announced his intent to appoint Robert L. Mallett as a Member of the Board of Directors of the Overseas Private Investment Corporation.

Mr. Robert L. Mallett, of Houston, Texas, currently serves as the Deputy Secretary of the U.S. Department of Commerce and is responsible for the day-to-day management of the Department as well as the implementation of policy direction for the Department's organizational units and personnel. Prior to joining the Department, Mr. Mallett served as City Administrator and Deputy Mayor for Operations for the District of Columbia in Mayor Sharon Pratt Kelly's Administration. He also served as a staff member for Senator Lloyd Bentsen, then Chairman of the Senate Committee on Finance, and later U.S. Treasury Secretary. Mr. Mallett has been a partner at the law firm of Verner, Liipfert, Bernhard, McPherson and Hand.

Mr. Mallett holds a B.A. degree from Morehouse College and J.D. from Harvard Law School.

The Overseas Private Investment Corporation is a self-sustaining federal agency whose purpose is to promote economic growth in developing countries by encouraging U.S. private investments in those nations.

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