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Press Release · October 12, 1999

PPIC Board Of Directors Elects David A. Coulter As Chairman

SAN FRANCISCO, California, October 12, 1999 – President and CEO David Lyon today announced the election of David A. Coulter as Chairman of the Public Policy Institute of California’s Board of Directors.

“I am delighted that Dave has accepted this new responsibility,” Lyon said. “With his unparalleled knowledge of California’s new economy and expanding role in the global economic community, he will play a crucial leadership role as we seek to understand the dynamic forces shaping the state’s future. As we celebrate our fifth year and look forward to improving California’s public policy decisionmaking in the next century, Dave’s vision and expertise make him the ideal person for the job.”

A member of the Board since 1997, Coulter succeeds Arjay Miller as PPIC’s Chairman. Miller, who founded PPIC in 1994 with William Hewlett and Roger Heyns, has served as Chairman since 1995. He will continue to serve on the Board of Directors.

Coulter is a partner with The Beacon Group, a private investment firm based in New York. Most recently, he was with BankAmerica Corporation and Bank of America NT & SA, where he served as Chairman and CEO. Previously, Coulter headed the Bank’s United States and International Groups, with responsibility for large corporate, financial, and government clients around the world. Coulter, who joined Bank of America in 1976, also held key positions in World Banking, Treasury, Corporate Planning, and in the Office of the President. He currently serves on the boards of the PG&E Corporation and Pacific Gas and Electric Company, Hambrecht and Quist, E-Coverage, and is a trustee of Carnegie Mellon University.

Coulter, 52, was born in Pittsburgh. He holds a bachelor’s degree in mathematics and a master’s degree in industrial administration from Carnegie Mellon University.

Other members of the PPIC Board of Directors are: William K. Coblentz, Partner, Coblentz, Patch, Duffy & Bass, LLP; Walter B. Hewlett, Director, Center for Computer Assisted Research in the Humanities; David W. Lyon, President and CEO, PPIC; Cheryl White Mason, Partner, O’Melveny & Myers; Arjay Miller, Dean Emeritus, Graduate School of Business, Stanford University; A. Alan Post, Former State Legislative Analyst, State of California; Cynthia A. Telles, Department of Psychiatry, UCLA School of Medicine; Raymond L. Watson, Vice Chairman of the Board, The Irvine Company; Harold M. Williams, President Emeritus, The J. Paul Getty Trust, Of Counsel, Skadden, Arps, Slate, Meagher & Flom, LLP.

The Public Policy Institute of California is a private, nonprofit organization dedicated to objective, nonpartisan research on economic, social, and political issues that affect the lives of Californians. The Institute was established in 1994 with an endowment from William R. Hewlett. Roger Heyns (1918-1995) served as the first Chairman of the Board of Directors.