FROM THE OFFICE OF PUBLIC AFFAIRS

The Air Transportation Stabilization Board (ATSB) has named Michael Kestenbaum as its Executive Director. Mr. Kestenbaum is replacing Brian C. Roseboro, Acting Under Secretary for Domestic Finance, Department of the Treasury, who has served as acting Executive Director of the ATSB since August 2003.

Mr. Kestenbaum was the first financial analyst hired by the ATSB after its creation. Prior to joining the ATSB, he was an analyst in the Investment Research Division at Goldman, Sachs & Co. in New York City, focusing on the airline industry. Mr. Kestenbaum is a graduate of Yale University.

The Chairman of the ATSB, Federal Reserve Board Governor Edward M. Gramlich, said “We are delighted that Michael Kestenbaum has agreed to take over as Executive Director. He has valuable private sector experience with the U.S. airline industry, as well as extensive institutional knowledge of the operations of the ATSB. He will play a vital role in helping the Board fulfill its responsibilities.”

Additional information on the ATSB is available on its web site, www.treas.gov/atsb.

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