FOR IMMEDIATE RELEASE                              2002-12
                                
                                
                                
       STATEMENT OF CHAIRMAN PITT ON NEW SEC COMMISSIONERS
       
       
       
       Washington, DC, January 23, 2002 -- Securities and
Exchange Commission Chairman Harvey L. Pitt today issued the
following statement regarding President Bush's appointment of two
commissioners and the resignation of Commissioner Laura S. Unger:
       
       “I am delighted by the reappointment of Commissioner
Isaac C. Hunt to the Commission. Commissioner Hunt is an
extraordinary public servant who, over the past five years, has
helped the Commission achieve many remarkable milestones. That
the Commission will continue to benefit from his remarkable
insights and thoughtful judgment should be of enormous comfort to
investors everywhere.
       
        "I am also delighted to welcome Cynthia A. Glassman to
the Commission at a time securities regulation is at a
crossroads. I look forward to working with her and calling on her
formidable expertise as we embark on an incredible journey to
modernize securities regulation for the benefit of investors
worldwide.
       
       "At the same time, I am saddened by the departure from
the Commission of Commissioner Unger. During her more than four
years of service, including six months as acting Chairman,
Laura’s judgment, intellect, dedication, and common sense
benefited investors and our capital markets tremendously. Her
work on winning pay parity for Commission employees and fee
reductions for investors will benefit millions of Americans.   I
wish her every success in the future.”
       
       

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