June 12, 2007

Portland General Electric president and CEO joins Portland Branch Board of the Federal Reserve Bank of San Francisco

Peggy Y. Fowler

Portland, June 12, 2007 – The board of directors of the Federal Reserve Bank of San Francisco has appointed Peggy Y. Fowler, president and CEO of Portland General Electric (PGE), to its Portland Branch board effective June 1, 2007. In this role, Ms. Fowler joins six other directors on the Portland Branch board in providing the Federal Reserve System with economic information for her industry and region. This information, along with other sources, is used by the Federal Reserve when reaching monetary policy decisions.

As president and CEO of Portland General Electric, Peggy Fowler oversees Oregon’s largest utility, with a service area of 4,000 square miles, 1.5 million customers and $1.5 billion in annual revenue. Ms. Fowler has more than 30 years of experience in the utility business and has managed almost every major area of PGE. She was named president and CEO in 2000. Among her numerous civic and community affiliations, Ms. Fowler is the current chairman of the Oregon Business Council’s Health Care Task Force, and a director with the Four County Economic Development Board, the Manufacturing 21 Coalition and the Oregon Business Council. The Portland Business Journal named her the “Most Admired CEO” in 2005 and the Portland Metropolitan Association of Realtors named her “Portland First Citizen” for 2007. The First Citizen award is Portland’s longest-running civic honor, awarded annually since 1928 to recognize civic achievement and business leadership in the community.

Other members of the Portland Branch board include: James H. Rudd (Portland Branch board chairman), Ferguson Wellman Capital Management, Inc.; David Y. Chen, OVP Venture Partners; Alan V. Johnson, Wells Fargo Bank; George J. Puentes, Don Pancho Authentic Mexican Foods, Inc.; Robert D. Sznewajs, West Coast Bancorp; and William D. Thorndike, Jr., Medford Fabrication.

The Federal Reserve Bank of San Francisco, with branch offices in Los Angeles, Seattle, Salt Lake City, and Portland, and a cash processing office in Phoenix, provides wholesale banking services to financial institutions throughout the nine western states. 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.

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