FROM THE OFFICE OF PUBLIC AFFAIRS

Treasury Secretary Paul O'Neill swore Paul Speltz in August 9, 2002 as U.S. Executive Director of the Asian Development Bank.  The Senate voted by unanimous consent to confirm Speltz on August 1, 2002.  President Bush nominated Speltz for this position on June 4, 2002.

 The Asian Development Bank (ADB) is a multilateral development finance institution working to increase economic growth and reduce poverty in 60 Asian and Pacific countries through public sector lending.  Speltz represents the United States as a voting member on the ADB Board of Directors.  This position carries the rank of Ambassador.

 Paul Speltz has over 25 years experience as a prominent member and mentor to the international business community.  Mr. Speltz is a Senior Level corporate and entrepreneurial international manager with a strong record in Asian business development, market strategy, and implementation.  After joining Bluestone Capital in March 2000, Mr. Speltz focused on building out the Asia Pacific Group and launched the bank's successful online Wealth Management System.  He was then named Co-Executive Managing Director of Global Operations in November.  From late 1998-1999, he was a Senior Director and Advisor on Asian geopolitical activities for the United Technologies Corporation, a Fortune "50" Multinational Leader in high technology.  In 1981 Mr. Speltz founded ATC International, an Asia-based marketing and consulting company.  He directed his company as Chairman and CEO for 17 years, inclusive of managing the operations when it was sold and was a subsidiary of Citicorp from 1985 through 1987.  In 1986 he co-founded the International Chamber of Commerce in Beijing, China, where he served as president until 1989. Before starting his own company, he advised various firms on Asian business affairs.

 Prior to earning his BSBA from the University of Connecticut in 1969, Mr. Speltz founded the university's chapter of the National Business Fraternity, Delta Sigma Pi. While working for a Japanese trading and consulting firm, he continued his education at Connecticut and graduated in 1971 with an MBA in International Business. He has sat on the Board of Directors for the university's School of Business since 1998 and also serves as an advisor on Asian affairs.

 Mr. Speltz is a resident of Houston, Texas, temporarily based at his summer home in New Hampshire with his wife Renee.   He has three grown children: Matthew, Alec, and Jessica.