FOR IMMEDIATE RELEASE 99-98 Cynthia M. Fornelli Appointed Attorney-Fellow In the Division of Investment Management Washington, DC, August 12, 1999 -- The Securities and Exchange Commission's Division of Investment Management today announced the selection of Cynthia M. Fornelli as an Attorney-Fellow for a two-year term. Ms. Fornelli was formerly with the Washington office of Dechert Price & Rhoads, where she specialized in investment company and investment adviser issues. While at the Division, Ms. Fornelli will assist Paul Roye, Director of the Division of Investment Management, on a wide variety of initiatives and projects. Mr. Roye said, "We are pleased that Cynthia has joined the Division. Her knowledge and experience will be invaluable to us as we address the many challenging issues before the Commission in the investment management area." Ms. Fornelli received her law degree from George Washington University in 1991 and her B.A. from Purdue University in 1985. Prior to joining Dechert Price & Rhoads, Ms. Fornelli worked in the Washington office of Fried, Frank, Harris, Shriver & Jacobson, where she specialized in SEC enforcement and investment adviser issues. # # #