News Release

Contact: Elizabeth Masten (415) 974-2133

San Francisco Fed Names New Member to Advisory Council

SAN FRANCISCO, March 27. 1998-- Utah labor leader and state senator Ed Mayne 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.

Mayne, 52, is president of the Utah AFL-CIO, as well as a Utah state senator. As spokesperson for working families in his state, he serves more than 72,000 Utah union members and their families. A hard rock miner by occupation, Mr. Mayne became a member of the United Steelworkers of America where he served as both president and vice president of his local. At the age of 31, he was elected the youngest State Federation president in U.S. history. And, in 1994, Mr. Mayne was elected as a Utah state senator representing the communities of West Valley, Kearns, Taylorville, and Bennion.

Born in Bingham Canyon, Utah, Mr. Mayne attended Snow College in Southern Utah and the University of Utah while working at the Bingham Copper Mine. In 1994, the Utah State Board of Regents, through the Salt Lake Community College, awarded him an Honorary Doctorate of Humane Letters for his services to the State of Utah and support of the Salt Lake Community College.

Active in civic, business and philanthropic activities, Mr. Mayne's service to the community has included duties on 53 state, local, government and private committees including the State Constitutional Revision Commission, the State Tax Revision Study Committee, the United Way Executive Board, Health Care Cost Containment Committee, the board of directors of Blue Cross/Blue Shield, the Fireman's Civil Service Commission, Workmen's Compensation and Unemployment Advisory Committees, as well as the White House Conference on Families.

Mr. Mayne has stated that he is very honored to represent the citizens of Utah and he will be asking various individuals from small business, industry, financial institutions, state government, and consumers to advise him on his assignment.

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; 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; Don M. (Duff) Willey, president of Willey Motors Inc., Bountiful, Utah; and Denice A. Young, C.P.A., president of Young Real Estate Services, Torrance, California.

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.