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THE WHITE HOUSE

Office of the Press Secretary

For Immediate Release December 22, 2000

         PRESIDENT CLINTON NAMES MIGUEL D. LAUSELL AS A MEMBER
             OF THE OVERSEAS PRIVATE INVESTMENT CORPORATION

     President Clinton today announced the recess appointment of Miguel

D. Lausell to serve as a member of the Overseas Private Investment Corporation (OPIC). Mr. Lausell was nominated to the Senate on July 20, 2000.

Mr. Miguel D. Lausell, of San Juan, Puerto Rico, is an attorney and has served as a public affairs consultant since 1986. He is currently the policy, development and economic advisor to the Telecommunications Advanced Systems Corporation and has served as President and CEO of the Puerto Rico Telephone Company. Mr. Lausell was appointed by the Governor of the Commonwealth of Puerto Rico as a member of the Economic Strategy Council, and was President of the Export Policy Commission from 1990 to 1992.

Mr. Lausell received an A.B. from Villanova University, a LL.B. from the University of Puerto Rico and a LL.M. from Harvard Law School.

OPIC assists U.S. investors in making profitable investments in developing countries. OPIC offers assistance by identifying investment opportunities, providing insurance to protect investments, and in offering loans and loan guarantees to help finance projects. OPIC participates in projects, which total $7 billion annually and have generated more than $24 billion in U.S. exports. The Board of Directors oversees the OPIC's underwriting and lending policies.

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