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For immediate release: March 11, 2004

ATLANTA FED ANNOUNCES ORGANIZATIONAL CHANGES

Jack Guynn, president and chief executive officer of the Federal Reserve Bank of Atlanta, announced several organizational changes today. These changes include the transfer of certain responsibilities among Bank staff based on the planned March 31 retirements of several officers, including Ronnie Caldwell, executive vice president, James Hawkins, senior vice president of financial services, John Pelick, vice president of systems/information security, and Jeff Weltzein, vice president and assistant manager of the Atlanta Branch.

As part of these changes, Anne DeBeer, senior vice president, will assume responsibility for the Bank’s financial services division, including all six Atlanta Fed branches. DeBeer will maintain her current senior-level oversight for human resources and automation. Mel Purcell, senior vice president and manager of the Bank’s Nashville Branch, will broaden his role to include functional responsibility for the check operations of all of the Atlanta Fed’s six branches and will report to DeBeer. Leah Davenport, vice president, will fill the newly created position of assistant district check function director and will report to Purcell.

Jim McKee, senior vice president and manager of the Bank’s Atlanta Branch, will broaden his responsibilities to include the Bank’s automation area. Kathleen Young, assistant vice president, will assume responsibility for the Bank’s systems application development department in addition to her responsibilities over the business continuity and information security departments, and she will report to McKee.

Chris Brown, senior vice president and chief financial officer, will retain responsibility for the financial management and credit and risk management functions. In addition, he will assume overall responsibility for the Bank’s law enforcement, general services, and facilities management functions.

The Federal Reserve Bank of Atlanta serves the Sixth Federal Reserve District, which encompasses Alabama, Florida, Georgia and parts of Louisiana, Mississippi and Tennessee. In addition to Atlanta, the Bank has branch offices in Birmingham, Jacksonville, Miami, Nashville and New Orleans. As part of the nation's central banking system, the Atlanta Fed participates in setting national monetary policy, supervises numerous commercial banks and provides a variety of financial services to depository institutions and the U.S. government.