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DTCC Promotes Alizzi to Managing Director

New York, December 6, 2000 - Anthony Alizzi of Syosset, N.Y. has been promoted to managing director - Relationship Management at The Depository Trust & Clearing Corporation (DTCC).

In his new role, Alizzi will oversee the staff that interacts regularly with DTCC's clients, which include most of the nation's top banks, brokers,mutual funds, and insurance carriers.

Alizzi joined The Depository Trust Company (DTC), a DTCC subsidiary, in 1987as a director in its Finance Division and subsequently held a number of senior management posts, including vice president and treasurer, where he was responsible for budgeting, cost analysis, purchasing, risk management,operations analysis and cash management. In addition, he served recently as vice president-operations, responsible for DTC's Long Island facility.

Prior to joining DTC, Alizzi held supervisory positions in accounting and finance at Bankers Trust and Pricewaterhouse Coopers. He earned his undergraduate degree at Boston University and holds an MBA from that institution, as well.Alizzi is also a Certified Public Accountant.

About DTCC

The Depository Trust & Clearing Corporation (DTCC), with operating facilities in multiple locations in the U.S. and overseas, is a holding company for six subsidiary businesses - a depository and five clearing corporations - as well as the co-owner with Thomson Financial of a global joint venture called Omgeo. Through its subsidiaries, DTCC provides clearance, settlement and information services for equities, corporate debt, municipal debt, government securities and mortgage-backed securities in the U.S., and emerging markets debt trades globally. It is also a leading clearinghouse for mutual funds and insurance products, linking funds and carriers with distribution networks. In addition, DTCC provides custody and asset servicing for more than two million securities from the U.S. and 84 other countries. For more information on DTCC, see www.dtcc.com.