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Rubin Names 1997 U.S. Savings Bonds Volunteer Committee

FOR IMMEDIATE RELEASE

December 12, 1996

Treasury Secretary Robert E. Rubin today named Chevron Chairman and CEO Kenneth T. Derr National Chair of the 1997 U.S. Savings Bonds Volunteer Committee.

“Volunteers are the mainstay of the savings bonds program,” Secretary Rubin said. “Mr. Derr and his committee of top business and government leaders will do much to make our 1997 savings bonds campaign a success. Their work is important because it educates employees about the need to save for the future.”

Series EE savings bonds offer all Americans a safe, convenient way to save. Available for as little as $25, bonds pay market-based interest, enjoy federal tax deferral on earnings and are free from state and local income taxes. Some 55 million Americans own savings bonds worth $187 billion. Seven million individuals buy bonds through the payroll savings plan where they work.

Mr. Derr assumed his present position in 1989 after serving one of the company's two vice-chairmen, responsible for Chevron's U.S. petroleum business, chemicals, coal, land development, research and several major corporate staff groups, such as Human Resources, Public Affairs and Environmental Affairs.

A native of Wilkes-Barre, Pa., Derr joined Chevron after graduating from Cornell University with degrees in mechanical engineering and business administration. He is chairman and a director of the American Petroleum Institute. He is a member of President Clinton's Council on Sustainable Development and served as a member of President Bush's Commission on Environmental Quality.

Mr. Derr succeeds 1996 National Chair James R. Leva, Chairman, President, and Chief Executive Officer of General Public Utilities Corporation (GPU), New Jersey.

A list of members of the 1997 U.S. Savings Bonds Volunteer Committee follows.

1997 U.S. SAVINGS BONDS VOLUNTEER COMMITTEE

* serving a second year

		NATIONAL CHAIR

		Kenneth T. Derr
		Chairman and CEO
		Chevron Corporation
		San Francisco, CA

		ADVERTISING/PUBLIC RELATIONS

		*Burt Manning
		Chairman and CEO
		J. Walter Thompson Co. Worldwide
		New York, NY

		AEROSPACE

		Michael M. Sears
		President
		Douglas Aircraft Corporation/McDonnell Douglas Corporation
		Long Beach, CA

		AUTOMOTIVE

		Alexander J. Trotman
		President and CEO
		Ford Motor Company
		Dearborn, MI

		BANKING

		*Lawrence K. Fish
		Chairman, President and CEO
		Citizens Financial Group
		Providence, RI

		CHEMICALS

		William H. Joyce
		Chairman, President and CEO
		Union Carbide Corporation
		Danbury, CT

		CITY GOVERNMENT

		The Honorable Willie Brown
		Mayor
		City of San Francisco
		San Francisco, CA

		COUNTY GOVERNMENT

		The Honorable Chris Hart
		Hillsborough County Board of County Commissions
		Tampa, FL

		ELECTRICAL EQUIPMENT

		*Robert J. O'Toole
		Chairman, President and CEO
		A.O. Smith Corporation
		Milwaukee, WI

		ELECTRONICS

		Victor A. DeMarines
		President and CEO
		The MITRE Corporation
		Bedford, MA  01730

		ENTERTAINMENT

		*Sherry Lansing
		Chairman and CEO
		Paramount Pictures Corp.
		Hollywood, CA

		FINANCIAL SERVICES

		*Muriel Siebert
		President and Chairwoman
		Muriel Siebert & Co.
		New York, NY

		GLASS & BUILDING MANUFACTURING

		Roger G. Ackerman
		Chairman and CEO
		Corning Incorporated
		Corning, NY

		HEALTH SERVICES

		*Lois Jean Moore
		President and CEO
		Harris County Hospital District
		Houston, TX

		HIGHER EDUCATION

		*Dr. William H. Cunningham
		Chancellor
		The University of Texas System
		Austin, TX

		INDUSTRIAL MANUFACTURING

		Richard L. Bready
		Chairman and CEO
		Nortek, Inc.
		Providence, RI

		INSURANCE

		*Edward B. Rust, Jr.
		President and CEO
		State Farm Insurance Companies
		Bloomington, IL

		LABOR

		John P. Sweeney
		President
		American Federation of Labor
		Congress of Industrial Organization
		Washington, DC

		PETROLEUM, COAL & REFINING

		Peter I. Bijur
		Chairman and CEO
		Texaco Corporation
		White Plains, NY

		PUBLIC TRANSPORTATION

		Patrick J. Moynihan
		General Manager
		Massachusetts Bay Transportation Authority
		Boston, MA

		RETAIL FOODS

		*Ronald E. Johnson
		Chairman, President and CEO
		Kash N'Karry Food Stores, Inc.
		Tampa, FL

		SCHOOLS

		*David E. Sawyer
		Superintendent
		Brevard County Board of Education
		Viera, FL  32940

		STATE GOVERNMENT

		The Honorable Lincoln Almond
		Governor
		State of Rhode Island
		Providence, RI

		SURFACE TRANSPORTATION

		Thomas M. Downs
		Chairman and President
		Amtrak
		Washington, DC

		STEEL

		Paul J. Wilhelm
		President
		US Steel Group
		Pittsburgh, PA

		TEXTILE AND APPARELS

		*John C. Adams
		Chairman, President and CEO
		Russell Corporation
		Alexander City,  AL

		UTILITIES

		*John W. Rowe
		President and CEO
		New England Electric System
		Westboro, MA

		ATLANTA

		Ronald W. Allen
		Chairman and CEO
		Delta Air Lines, Inc.
		Atlanta, GA

		BALTIMORE

		*Ivan M. Stern
		Chairman, President and CEO
		Allied Signal Technical Services
		Columbia, MD

		BOSTON

		John P. Hamill
		President
		Fleet Bank of Massachusetts, N.A.
		Boston, MA

		CINCINNATI

		William R. Burleigh
		President and CEO
		The E.W. Scripps Company
		Cincinnati, OH

		CLEVELAND

		George S. Brookes
		President
		Huntington Bank, Northern Ohio Region
		Cleveland, OH

		COLUMBUS

		William J. Lhota
		Executive Vice President
		American Electric Power
		Columbus, OH

		DALLAS

		William E. McCarthy
		President of Catalogue, Distribution and Non-Resale Purchasing
		J. C. Penney Company, Inc.
		Plano, TX

		DENVER

		Richard McCormick
		Chairman and CEO
		U.S. West, Inc.
		Englewood, CO

		DETROIT

		*Anthony F. Earley, Jr.
		President and CEO
		Detroit Edison Company
		Detroit, MI

		HOUSTON

		Lois Jean Moore
		President and CEO
		Harris County Hospital District
		Houston, TX

		LOS ANGELES

		John M. Leonis
		Chief Executive Officer
		Litton Industries
		Woodland Hills, CA

		MIAMI

		*Dr. Richard H. Hinds
		Assistant Superintendent of Schools
		Dade County Public Schools Miami, FL

		NEW JERSEY

		*Dennis Baldassari
		President
		GPU Energy
		Reading, PA

		NEW YORK

		*Frank A. Bennack, Jr. President and CEO
		The Hearst Corporation
		New York, NY

		PHOENIX

		*Markos Tambakeras
		President, Industrial Automation & Control
		Honeywell Inc.
		Phoenix, AZ

		PHILADELPHIA

		James J. Morris
		Vice President and General Manager
		Boeing Defense and Space Group/Helicopters Division
		Philadelphia, PA

		PITTSBURGH

		Thomas W. Golonski
		President
		National City Bank of Pennsylvania
		Pittsburgh, PA

		PORTLAND

		Gerry B. Cameron
		Chairman and CEO
		U. S. Bancorp
		Portland, OR

		ST. LOUIS

		*Nicholas L. Reding
		Vice Chairman
		Monsanto Company
		St. Louis, MO

		SEATTLE

		Phyllis J. Campbell
		President and CEO
		U.S. Bank of Washington
		Seattle, WA

		WASHINGTON, DC

		Philip A. Odeen
		President and CEO
		BDM International, Inc.
		McLean, VA