December 20, 2007

Seattle Business Leaders Join SF Fed’s Economic Advisory Council

Rick R. Holley

San Francisco, December 20, 2007 – The San Francisco Federal Reserve Bank announced today that Rick R. Holley, president and CEO of Seattle-based Plum Creek Timber Company (NYSE:PLC), and Henry L. “Skip” Kotkins, Jr., chairman and CEO of Skyway Luggage Company, also based in Seattle, have joined the San Francisco Fed’s Economic Advisory Council. The Bank also announced that Stephen M. Brophy, president of Page Land & Cattle Co. in Phoenix, Arizona, has accepted reappointment as chairman; and Roderick C. Wendt, president and CEO of JELD-WEN, Inc. in Klamath Falls, Oregon, has accepted appointment as vice chairman of the council for 2008.

The San Francisco Fed’s Economic Advisory Council represents diverse industries and regions within the Twelfth District’s nine western states.  Council members provide important grassroots information to the members of the board of directors and management of the San Francisco Federal Reserve Bank on the present state of the economy and economic developments for their respective industries and locations. At the invitation of the Bank’s president, members generally serve three-year terms.

Mr. Holley served as vice president and CFO of Plum Creek beginning in 1985 before being elected president, CEO and member of its board of directors in 1994.  Mr. Holley also serves on several private and not-for-profit boards including the Sustainable Forestry Initiative, Inc., and the Blethen Corporation.  In addition, he is a member of the Visiting Committee of the University of Washington School of Medicine.

Plum Creek is the largest private landowner in the United States and manages more than eight million acres in major timber producing regions. The company produces lumber, plywood and medium density fiberboard in 10 wood products manufacturing facilities in the Northwest. Plum Creek employs more than 2,100 people across 18 states.

Henry L. Kotkins, Jr.

Mr. Kotkins has served as president and CEO of Skyway Luggage Company since 1980 and as chairman and CEO since 2003. He is actively involved with numerous non-profit organizations, including the Fred Hutchinson Cancer Research Center, the Travel Goods Association and the Washington Council on International Trade. Mr. Kotkins is also a trustee of the Pacific Northwest Association of Independent Schools and the National Association of Independent Schools, and treasurer of the Greater Seattle Chamber of Commerce. He is a member of the Industry Trade Advisory Committee, which advises the U.S. Department of Commerce, and a member of the board of ABM Industries, Inc.

Skyway Luggage Company was founded in 1910 and is still run as a family business. Skyway products are distributed in North America, Mexico, Europe, Australia, New Zealand, and East Asia.

The balance of the SF Fed’s District Economic Advisory Council, effective January 1, 2008, includes:
Stephen M. Brophy, (chairman) Page Land & Cattle Co., Phoenix, Arizona; Roderick C. Wendt, (vice chairman) JELD-WEN, Inc., Klamath Falls, Oregon; John H. (Jack) Gleason, Community Planning Advisors LLC, Paradise Valley, Arizona; Mary F. Kaiser, California Community Reinvestment Corporation, Glendale, California; Cathy Luke, Loyalty Enterprise, Ltd., Honolulu, Hawaii; Vivek Paul, Texas Pacific Group, San Francisco, California; and Patricia E. Yarrington, Chevron Corporation, San Ramon, California.

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