FROM THE OFFICE OF PUBLIC AFFAIRS

Washington, DC - Tony T. Brown has been appointed Director of the Community Development Financial Institutions (CDFI) Fund by Treasury Secretary Paul H. O'Neill. Mr. Brown's tenure begins today.

As Director of the CDFI Fund, Mr. Brown will oversee the expansion of access to capital and financial services in critically under-served urban, rural and Native American communities, where one of the biggest obstacles to economic development is a lack of access to mainstream sources of private sector capital.

Before receiving the appointment, Mr. Brown served as a Senior Vice President for Bank of America in Jacksonville, FL, from 1990 to 2001. Mr. Brown's tenure at Bank of America included a number of senior management positions in community development.

Among his prior responsibilities, Mr. Brown was the executive charged with managing the bank's community development program for the state of Florida, which included community development lending and the provision of financial services. These activities resulted in over $2 billion in annual loan production and "Outstanding" ratings in Community Reinvestment Act (CRA) performance.

Mr. Brown is a graduate of Xavier University in Cincinnati, Ohio with a Master of Business Administration degree in Finance and a Bachelor of Arts degree in International Affairs and Business.

For more information on the CDFI Fund and its programs, please visit our website at www.treas.gov/cdfi.