The Federal Reserve Bank of San Francisco
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May 19, 1998

Contact: Calvin Naito
Phone: (213) 683-2902
Pager: (213) 600-0216

Federal Reserve Officials to Unveil New $20 Bill Design

U.S. Secret Service to describe anti-counterfeiting features to be built into re-designed currency.

LAUSD to be handed 670 copies -- one for every school in the district -- of innovative currency authentication CD-ROM.

EVENT:

The Los Angeles Branch of the Federal Reserve Bank of San Francisco (San Francisco Fed) will unveil the new $20 bill design and launch an anti-counterfeiting public awareness campaign for the first re-designed note that most people will use on a daily basis. The U.S. government is re-designing its currency notes and adding new security features to thwart increasingly sophisticated high-tech counterfeiters. The U.S. Secret Service will describe the new anti-counterfeiting features to be built into the $20 bills, currently the most frequently counterfeited note and the bill most commonly dispensed from automated teller machines (ATMs). As part of the public awareness campaign, the San Francisco Fed's L.A. Branch will hand an L.A. Unified School District (LAUSD) official 670 copies -- one copy for every school in the district -- of an educational currency authentication CD-ROM. The aims in donating the CD-ROMs are to educate students about the new currency and enable them to pass on their anti-counterfeiting knowledge to their parents and others. The innovative CD-ROM was conceived and designed by the San Francisco Fed's L.A. office.

Event visuals include huge poster boards of the re-designed bill, samples of the new bills, the 670 CD-ROMs stacked in tall piles on a table, and students and attendees playing with the CD-ROMs at several computers set-up in the event room.

WHEN: Wednesday, May 20, 1998, 10:00 a.m.
WHERE: Branch Conference Center, Los Angeles Branch, Federal Reserve Bank of San Francisco, 950 S. Grand Avenue, Los Angeles. This is a high security facility. Media are advised to arrive early since clearance procedures may slow their entry.
WHO: Mark Mullinix, branch manager, San Francisco Fed's L.A. Branch; Charles Ortman, assistant special agent in charge, L.A. office, U.S. Secret Service; Dan Austin, assistant superintendent and chief of staff to Superintendent Ruben Zacarias, LAUSD; Tom Labonge, special assistant to L.A. Mayor Richard Riordan; Harrison Kim, president, Korean Chamber of Commerce; representatives from financial institutions, other businesses, community based organizations, students, and other groups.
NOTE: The San Francisco Fed Los Angeles Branch's zone includes the southern third of California, southern Nevada, and all of Arizona.