FOR IMMEDIATE RELEASE                        2001-23
                              
                              
                              
         Joseph C. Lombard, Senior Counsel to Former
         Chairman Arthur Levitt, To Leave Commission




     Washington, DC, February 27, 2001-Joseph C. Lombard,
Senior Counsel to former Securities and Exhange Commission
Chairman Arthur Levitt for market regulation, will leave the
Commission to join Archipelago, LLC as Executive Vice
President.  He will be based in Washington, DC, where
Archipelago will establish an office later this year.

   From July 1999 to February 2001, Mr. Lombard advised
Chairman Levitt on all matters related to market regulation
policy, including market fragmentation, decimalization, new
securities exchange applications, proposed revisions to
trading platforms, market data, and equity and options
market linkages.  He was involved actively in the
formulation of the Commission's legislative and
communications strategy relating to market structure issues,
and served as the Chairman's liaison to major market
participants.   He received the SEC's Capital Markets Award
for his involvement in the Commission's options market
reform and execution quality initiatives.

   Prior to joining the Chairman's office, Mr. Lombard was a
Special Counsel in the Washington, DC office of O'Melveny &
Myers, LLP, where he counseled investment advisers, broker
dealers and corporate issuers regarding the federal
securities laws.  He began his legal career in the
Commission's Division of Enforcement, where he worked as a
Staff Attorney from September 1990 to September 1993.  He
was an Adjunct Professor at Georgetown University Law Center
from 1996 to 1999.

   Mr. Lombard earned his J.D. from Georgetown University
Law Center in 1990, his M.Sc. (Econ.) from the London School
of Economics in 1987, and his A.B. from Georgetown
University College of Arts and Sciences in 1986.



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