Cara Schnaper

New York, June 14, 2000 ---The Depository Trust & Clearing Corporation's (DTCC) shareholders have elected four industry leaders -- Richard F. Brueckner, Mary M. Fenoglio, Peter J. Murray, and Cara Schnaper -- to join the DTCC Board of Directors.
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Murray is a managing director at Credit Suisse First Boston (CSFB) and regional head of the Americas Operations at that firm and Schnaper is chief operations officer of the Global Markets business at J.P Morgan Securities, Inc.
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Cara Schnaper: A managing director at J.P. Morgan Securities, Inc., Schnaper is chief operations officer of the institution's Global Markets business.In her current role, she is responsible for operations and operating risk within J.P. Morgan's sales, trading and capital markets businesses.She has managed operations and technology within the core functions of the firm as well as throughout markets.Schnaper, who serves on several management committees at J.P.Morgan, has been with the organization since 1977.She is a member of the CHIPCo and ServiceCo Operating Committees of the New York Clearing House and also a member of the Payments Risk Committee of the Federal Reserve Bank of New York.

Cara Schnaper : A managing director at JP Morgan Securities, Inc., Schnaper is chief operations officer of the institution's Global Markets business.In her current role, she is responsible for operations and operating risk within JP Morgan's sales, trading and capital markets businesses.She has managed operations and technology within the core functions of the firm as well as throughout markets.Schnaper, who serves on several management committees at JP Morgan, has been with the organization since 1977.She is a member of the CHIPCo and ServiceCo Operating Committees of the New York Clearing House and also a member of the Payments Risk Committee of the Federal Reserve Bank of New York.

These four join the following DTCC Board members, all of whom were re-elected at the most recent shareholders meeting :.