David Rubin Named to Governor Rendell's Transition Team; Los Angeles-Based Investment Advisor to Serve on Revenue Team

Business Wire, Jan 7, 2003

Business Editors/Political Writers

LOS ANGELES--(BUSINESS WIRE)--Jan. 7, 2003

Newly elected Pennsylvania Governor Edward G. Rendell has named Los Angeles-based Advisor David Rubin to the Governor's Transition Team. Rubin begins his service in January 2003, serving on the Department of Revenue Transition Team.

As Governor-Elect in 2002 and taking office in 2003, Rendell created a Transition Team to help facilitate the smooth implementation of his administration's policies and goals.

"My intention is to recruit the best and the brightest professionals to help develop recommendations for my new administration," Rendell said. "We are very pleased to have David Rubin as a part of our team," he added.

Rubin is one of the nation's most respected innovators of capital market products and municipal reserve strategies. He is a Chartered Financial Analyst specializing in revenue enhancement measures for local and state government. Rubin pioneered, among other instruments, the now standardized Guaranteed Investment Contract as well as the use of interest rate swaps, and has negotiated over $100 billion in transactions. He also serves as a Commissioner of the Housing Authority of the City of Los Angeles, appointed last year by Los Angeles Mayor James K. Hahn.

"It is very flattering to have the opportunity to help Governor Rendell and the State of Pennsylvania achieve greater fiscal efficiency," Rubin said.

Rubin will serve on the Task Force to develop strategies that more accurately incorporate the cost of debt of all the departments into the State's overall budget consideration. "Our goal is to mitigate the debt and create a fiscally stronger environment," Rubin explained.

Editor's Note: For further information or to arrange interviews, contact Scott Regberg at Regberg & Associates, Inc., 310/475-5735.