Shigeki Kawano, who has been the head of our office in Tokyo since it opened
in April 2000, has resigned from that position effective December 31. His
immediate plans are not yet determined, but we hope that whatever his next
endeavor is he will have an opportunity to remain involved in ISDA
activities. We have enjoyed having him as a colleague and appreciate his
efforts on behalf of the Association. I am sure that each of you join me in
wishing him well in the future.
 
Bob