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For immediate release Apr. 6, 1999

ATLANTA FED ANNOUNCES TWO FINANCIAL SERVICES DIVISION PROMOTIONS

Jeff Weltzien has been promoted to vice president responsible for payment services at the Federal Reserve Bank of Atlanta, announced Jack Guynn, president and chief executive officer of the Atlanta Fed. Guynn also announced the promotion of Kathleen Loughman to assistant vice president with responsibility for payment services and business development at the Jacksonville Branch.

Weltzien joined the Jacksonville Branch in 1973 and served the past 12 years as an officer over the check services area of the branch. Along with responsibility for daily operations, he served as chairman of the Sixth Federal Reserve District's Subcommittee of Check Collection Services for five years. Most recently he was the assistant vice president responsible for payment services.

Weltzien holds a bachelor of science degree in finance from Ohio University. He has also completed the School of Banking of the South at Louisiana State University and the executive management program at Pennsylvania State University. He currently serves on several district and Federal Reserve System subcommittees and work groups related to payment services.

Loughman assumes responsibility for payment services operations, adjustment and administration at the Jacksonville Branch. She has served the district for over eight years in the payment services area. Most recently she served as financial services director in cash services and business development with responsibility for payment services settlement and administration. She earned a bachelor of science degree in business marketing from Florida State University.

The Federal Reserve Bank of Atlanta serves the Sixth Federal Reserve District, which encompasses Alabama, Florida, Georgia and portions of Louisiana, Mississippi and Tennessee. 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.

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