ICI President Applauds Nomination of Rep. Christopher Cox to Be Chairman of Securities and Exchange Commission

Washington, DC, June 2, 2005 - Investment Company Institute President Paul Schott Stevens issued the following statement on the nomination of Rep. Christopher Cox (R-CA) to be Chairman of the Securities and Exchange Commission:

“Chris Cox has a record of extraordinary accomplishment as a leader in the Congress, as a member of President Reagan’s staff at the White House, and as a corporate and securities lawyer in private practice. He would provide strong direction for the SEC in its vital mission of protecting investors and overseeing our capital markets. We applaud his nomination and look forward to working with Congressman Cox if he is confirmed as chairman of the SEC.”