The Lower Manhattan Development Corporation, the joint State-City
corporation formed to oversee the revitalization of Lower Manhattan,
announced today the appointment of Kevin M. Rampe as Executive Vice President and General Counsel to the Corporation. Mr. Rampe will resign as First Deputy Superintendent of the New York State Insurance Department to accept this position. He brings to the LMDC a detailed knowledge of government affairs, insurance matters, and corporate governance derived from his wide experience in public service and private practice.

The LMDC also announced the appointment of Stefan Pryor as Deputy to the Chairman and James Angley as Chief Financial Officer.

"I'm honored to have been chosen for this position and to play a role in the effort to revitalize Lower Manhattan," Rampe said. "I look forward to helping the Corporation fulfill its mandate on several levels, whether by providing legal counsel on complex issues or working to shape and manage the organization. I want to thank Chairman Whitehead, President Tomson and the Board for giving me this exciting opportunity."

LMDC Chairman John C. Whitehead said, "Kevin's unique background will be a tremendous asset to the LMDC. He is a talented attorney who has the skills necessary to guide the Corporation on novel legal issues and he's a tested manager with a wealth of government experience behind him. We're pleased to have Kevin on board. "

LMDC President Lou Tomson said, "I've had the pleasure of working with Kevin many times over the years and have seen firsthand his command of the law and his ability to manage complex projects. He will be instrumental to the LMDC as we pursue our mission of revitalizing Lower Manhattan."

As Executive Vice President and General Counsel, Mr. Rampe will provide daily oversight and direction to the staff of the LMDC and will assist the President in formulating and carrying out the policies of the LMDC. Mr. Rampe will also work with the Counsel to the Board of Directors to provide legal advice to the LMDC.

Mr. Rampe joined the NYS Insurance Department as Deputy Superintendent and General Counsel on September 20, 1999 and was subsequently promoted to Senior Deputy Superintendent and General Counsel and most recently, First Deputy Superintendent. He previously served as First Assistant Counsel to Governor George E. Pataki and was a senior legal adviser on insurance, banking, civil justice, workers compensation and labor matters. Prior to joining the Governor's Office in January 1996 as Assistant Counsel, Mr. Rampe was a litigation associate with the law firm of Shearman & Sterling, where he worked on domestic and international securities, antitrust and contract litigation as well as various commercial arbitrations.

Mr. Rampe received his B.A., cum laude, from Union College and his J.D, magna cum laude, from Albany Law School of Union University. He is also a graduate of the Program for Senior Executives in State and Local Government at Harvard University's John F. Kennedy School of Government.

Additional Key Staff Appointed

LMDC President Lou Tomson also announced the appointment of Stefan Pryor as Deputy to the Chairman and James Angley as Chief Financial Officer.

Stefan Pryor: As Deputy to the Chairman, Mr. Pryor will serve as the
Chairman's liaison and point person on all LMDC matters and is Secretary of the LMDC Board of Directors. Mr. Pryor will help the LMDC Board, Chairman and President develop the Corporation's organizational plan, staffing structure, and implementation strategy. He will help ensure coordination among Board and staff, as well as across internal departments and external agencies, in order to meet the Corporation's goals. Mr. Pryor's previous position was Vice President of the NYC Partnership & Chamber of Commerce, the city's leading business organization, serving most recently as a coordinator of the Partnership's response to 9/11. Mr. Pryor also served as a top advisor to the Mayor of New Haven, CT.

James P. Angley: As Chief Financial Officer, Mr. Angley will be responsible for oversight of the LMDC's financial activities and programs and will work to develop strong financial management policies, procedures and controls. He will coordinate activities with federal, state and city agencies to develop and implement financial assistance programs. Mr. Angley will resign from his current positions as Senior Vice President for the New York State Housing Finance Agency and State of New York Mortgage Agency and as Director of SONYMA's Mortgage Insurance Fund.