FOR IMMEDIATE RELEASE

September 21, 2000

Terrence P. Dunn, president and chief executive officer of J.E. Dunn Construction Company, Kansas City, Mo., has been named chairman of the board of the Federal Reserve Bank of Kansas City for 2001 by the Board of Governors of the Federal Reserve System in Washington, D.C. Dunn has served as deputy chairman since 1998.

Jo Marie Dancik, area managing partner, Ernst and Young LLP, Denver, Co., has been named deputy chairman of the board of the Federal Reserve Bank of Kansas City for 2001. Dancik, was also appointed by the Board of Governors of the Federal Reserve System in Washington, D.C. She has served on the Kansas City board since 1995 and as chairman since 1998.

The Bank's board includes nine directors, six of whom are elected by member banks in the seven states of the Tenth Federal Reserve District; three directors are appointed by the Federal Reserve Board. Reserve bank directors meet monthly to confer on economic and banking developments and to advise the Bank on its operations and policies. Among the directors' responsibilities is establishing the Bank's discount rate, subject to review and approval by the Federal Reserve Board.

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