News Release

Contact: Elizabeth Masten (415) 974-2133

San Francisco Fed Names Real Estate Broker To Advisory

SAN FRANCISCO, March 27, 1998-- Los Angeles area commercial real estate consultant, Denice A. Young, has been appointed to the Advisory Council of the Federal Reserve Bank of San Francisco, according to an announcement by Bank president Robert T. Parry.

The purpose of the Council is to serve as an important source of information to the Federal Reserve System on the District's nine-state economy.

Young, 41, is president of Young Real Estate Services in Torrance, a small commercial real estate brokerage and consulting company which specializes in tenant leasing representation and lease audits.

A graduate of Illinois State University, Ms. Young became a Certified Public Accountant while working at Coopers & Lybrand in Los Angeles. Later, she was affiliated with Getty Oil Company and Atlantic Richfield Company in various real estate, accounting and investments assignments. In 1986, Ms. Young joined Leasehold Technology Group, a firm which specialized in providing or supervising a variety of real estate consulting services to the tenant/end-user side of the commercial, industrial and retail marketplace. She served as audit director, chief financial officer, and finally president and chief executive officer of the firm.

Ms. Young is active with the International Development Research Council and the National Association of Corporate Real Estate Executives, as well as with the Black Business Association and the National Association of Women Business Owners. She is a director of the Immaculate Heart College Center, a classroom consultant for Junior Achievement of California, a member of the Economic Development Committee of The New Leaders, and has served as a director of the Bethany Economic Development Corporation.

Other members of the Bank's Council include its chairman, Bailey S. (Biff) Barnard, senior vice president of Allied Capital Corporation, San Francisco, California; council vice chairman, Karla S. Chambers, vice president of Stahlbush Island Farms, Inc., Corvallis, Oregon; Barbara Bry, director and co-founder of ATCOM/INFO, San Diego, California; Paula R. Collins, chief executive officer, WDG Ventures, Inc., San Francisco; Paul Ecke III, president, Paul Ecke Ranch, Encinitas, California; Ed P. Mayne, president of the Utah AFL-CIO, West Valley City, Utah; Lawrence S. Okinaga, partner, Carlsmith Ball Wichman Case & Ichiki, Honolulu, Hawaii; Peter H. Parra, 5th District supervisor, County of Kern, Bakersfield, California; Walter F. Payne, president and chief executive officer, Blue Diamond Growers, Sacramento, California; Peter H. van Oppen, chairman and chief executive officer, Advanced Digital Information Corporation, Redmond, Washington; Bob L. Vice, president, BLV, Agribusiness Consultants, Fallbrook, California; Richard S. Walden, president, Farmers Investment Company, Sahuarita, Arizona; and Don M. (Duff) Willey, president of Willey Motors Inc., Bountiful, Utah.

The Federal Reserve Bank of San Francisco provides wholesale banking services to financial institutions in the nine western states through the home office in San Francisco and its branches in Los Angeles, Portland, Salt Lake City, and Seattle. As the nation's central bank, the Federal Reserve System formulates monetary policy, serves as a bank regulator, administers consumer protection laws, and is fiscal agent for the U.S. government.