FOR IMMEDIATE RELEASE 2000-107 Noran Camp, Legal Counsel to Chairman Levitt, To Leave Commission After Ten Years of Service; Douglas Davison Named as Successor Washington, DC, August 4, 2000 - Noran J. Camp, Legal Counsel to Securities and Exchange Commission Chairman Arthur Levitt, today announced that he is leaving the Commission to join the San Francisco law office of Gibson, Dunn & Crutcher as Of Counsel. Also, Chairman Levitt today named Douglas J. Davison to succeed Mr. Camp. Chairman Levitt said, "Noran has served the Commission and investors with distinction and commitment for a decade. I have benefited greatly from his wise counsel and warm friendship and will miss him much. Noran is admired by all for his genuineness, effectiveness, and thorough command of the securities laws. I wish him continued success and much happiness." Chairman Levitt added, "I am pleased to welcome Doug and look forward to working with him in his new position." Mr. Camp said, "I have been honored to work at the Commission for the past ten years. While serving in the Office of the General Counsel, the Division of Enforcement, and the Chairman's Office, I have been privileged to work with the dedicated corps of professionals and support staff who make this agency great. It has been especially exciting to serve in the Chairman's Office during the past two and one-half years, a time of such dramatic changes in the securities markets. I particularly thank the Chairman for giving me the tremendous opportunity to serve the Commission and investors as his Legal Counsel. I will greatly miss working here, but look forward to new challenges in the private sector." As Legal Counsel since April 1998, Mr. Camp has advised Chairman Levitt on all aspects of the Commission's enforcement program. Prior to this position he was Senior Special Trial Counsel in the Office of the General Counsel and then served as Assistant Chief Litigation Counsel in the Trial Unit of the Division of Enforcement. Mr. Camp successfully argued the case of SEC v. Colello to the Ninth Circuit Court of Appeals. That case set important precedent in the law governing "relief defendants." Mr. Camp also served as lead counsel or co-counsel on several complex securities enforcement actions. Mr. Camp joined the Commission in 1990 after serving as an Associate at Willkie Farr & Gallagher in New York. From 1983 to 1985 he was a law clerk for U.S. Chief Judge Lawrence K. Karlton, of the Eastern District of California, at Sacramento. Mr. Camp, 43, graduated with a B.S. from Columbia University and earned his J.D. from the Yale Law School. * * * Chairman Levitt today named Douglas J. Davison to succeed Mr. Camp as Legal Counsel to the Chairman. As Legal Counsel, Mr. Davison will advise the Chairman primarily on enforcement matters. Mr. Davison comes to this position from the Commission's Division of Enforcement where, as a Branch Chief since May 1999, he conducted and supervised a broad range of enforcement activities. He began his tenure at the Commission in 1997, serving first as a Staff Attorney and later as a Senior Counsel in the Division. Prior to joining the Commission, Mr. Davison was an Associate at the law firm of Eckert Seamans Cherin & Mellott. Mr. Davison, 31, earned his B.S. from the Pennsylvania State University and his J.D., cum laude, from the Dickinson School of Law of the Pennsylvania State University. # # #