FINANCIAL EXECUTIVES INSTITUTE APPOINTS PHILIP B. LIVINGSTON AS PRESIDENT AND CHIEF EXECUTIVE OFFICER

The Financial Executives Institute (FEI) has announced that Philip B. Livingston, 41, is joining FEI as president and CEO-elect, effective January 1, 1999. Livingston succeeds P. Norman Roy, who is retiring in the first half of 1999.

Prior to joining FEI, Livingston was senior vice president and chief financial officer of Catalina Marketing Corporation, a $250-million supplier of electronic marketing services for the consumer packaged goods industry. For Catalina, Livingston managed the accounting, treasury, information technology, human resources, and legal functions. He also spent three years as vice president and CFO of Celestial Seasonings, Inc., where he led the company through its initial public offering. Livingston started his career with Arthur Young & Company (now Ernst & Young), where he earned his CPA.

"I have known Phil for many years, and I believe he is a terrific choice to lead FEI into the 21st century," said outgoing FEI President Norman Roy. "He has a commanding presence and will be an excellent spokesperson for the institute."

Financial Executives Institute is a professional association of 14,000 CFOs, controllers, treasurers, pension fund managers, and tax executives from 8,000 companies throughout the United States and Canada. *

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