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President Clinton Names Pierre Alexander Chao As Member to the National Commission on the Use of Offsets in Defense Trade (11/30/00)

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                              THE WHITE HOUSE

                       Office of the Press Secretary

For Immediate Release
November 30, 2000


     The President today announced his intent to appoint Pierre Alexander
Chao as a Member of the National Commission on the Use of Offsets in
Defense Trade (UODT).

     Mr. Pierre Alexander Chao, of New York City, New York, is Managing
Director and Senior Aerospace/Defense Analyst for Credit Suisse First
Boston (CSFB) Corporation.  In this capacity, Mr. Chao is responsible for
coverage of over 15 defense and commercial aerospace stocks, such as
Boeing, Lockheed Martin, Raytheon, Northrop Grumman, General Dynamics,
Litton, and BFGoodrich.  Prior to joining CSFB in 1999, Mr. Chao was the
Senior Aerospace/Defense Analyst at Morgan Stanley Dean Witter from 1995 to
1999 and the Senior Industry Analyst at Smith Barney during 1994.  From
1986 to 1988 and from 1990 to 1993, Mr. Chao served as Director at JSA
International, a Boston-Paris based management-consulting firm focused on
the aerospace/defense industry.  While at JSA, Mr. Chao conducted multiple
studies for clients in the U.S., France, United Kingdom, Germany, and Asia.
Mr. Chao was also a co-founder of JSA Research, an equity research boutique
specializing in the aerospace/defense industry.  Mr. Chao has been ranked
the number one aerospace/defense analyst in the 1995-1999 Greenwich
Associates polls, number one in the 1998-2000 Reuters Polls, and has been
on the Institutional Investor All-America Research Team from 1996 to 2000.
He is a member of the Aerospace Analyst Society, Air Force Association, The
Navy League, Wings Club, Foreign Policy Association, as well as a Chartered
Financial Analyst.

     Mr. Chao earned a dual B.S. in Political Science and Management
Science from the Sloan School at M.I.T.

     Established by Congress in 1999, the National Commission on the Use of
Offsets in Defense Trade (UODT) addresses all aspects of the use of offsets
in international defense trade.  The UODT is responsible for reviewing and
reporting on the full range of current practices by foreign governments in
requiring offsets in purchasing agreements and the extent and nature of
offsets offered by United States and foreign defense contractors and shall
review and report on the impact of the use of offsets on defense
subcontractors and nondefense industrial sectors affected by indirect


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