GARP
Philip Merrill
973-258-1540
garpny1@home.com



May 19, 2000
For Immediate Release


GARP Announces FAS 133 Training Series

GARP, the Global Association of Risk Professionals, today announces that
they will present a series of training sessions to educate the public about
FAS 133 Accounting for Derivative and Hedging Instruments.

The standard has been changed and amended significantly in the last two
years.   This program is being offered because GARP recognizes the need to
educate the public as to the implications of this complex and significant
financial reporting requirement.

The series will consist of basic training sessions and an advanced seminar.
GARP members Philip Merrill and Benton Brown will present the basic training
sessions.  FASB staff members, legal, tax and technology specialists will
Join Mr. Merrill and Mr. Brown at an advanced seminar scheduled for July.

The basic training sessions will update participants as to the definition of
a derivative, cash flow hedging, fair value hedging, foreign exchange
hedging, and elements of implementation.  This course will cover the
prerequisites for successful participation in the advanced seminar. The
basic will also help facilitate participation in the GARP FAS 133 sessions.
The first basic training seminar will be held June 28, 2000 at the New York
Society of Security Analysts headquarters in the World Trade Center.
Registration and other detailed information are available from Philip
Merrill at garpny1@home.com, or on www.garp.com.

The advanced seminar will cover more complex issues relating to FASB staff
accounting interpretations, tax, legal and technology implications and
advanced risk management tools and techniques.  Participants in the advanced
seminar should have mastered the content of the basic training session.

The following people should attend: risk managers, accountants, auditors,
lawyers, tax specialists, credit, compliance, technology and other risk
professionals.