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Former Ambassadors Paemen, Eizenstat Named Co-Chairmen of European-American Business Council

March 14, 2002

March 14, 2002 - Washington, D.C. – In a move reflecting the critical juncture the transatlantic business community believes is being faced by the United States and Europe, the European-American Business Council (EABC) board of directors today named internationally respected Stuart Eizenstat, former U.S. ambassador to the European Union, and Hugo Paemen, former head of the European Union Delegation to the United States, as co-chairmen to bring a stronger voice to what some believe is the most serious crisis between the two continents in more than 50 years.

“That these two vastly experienced and highly regarded men, who know the issues between the United States and the European Union so intimately, would step into the leadership of the EABC, demonstrates their belief in the urgency for the business communities to step up and take a lead role,” said J. Michael Farren, former under secretary of commerce for international trade and vice president, Xerox Corporation. “And our members agree with that sense of urgency.”

“The two continents’ futures are inextricably linked, as are their businesses. Half of the trade between the two continents is among affiliated companies,” said Thomas Patton, vice president, Philips Electronics.

Ambassador Paemen and Ambassador Eizenstat will succeed retiring EABC Chairman Donald B. Reed, the chairman and chief executive officer of Cable & Wireless.

“The relationship between the EU and the United States is at an important crossroads with substantial tensions which require careful management and creative solutions,” said Ambassador Eizenstat.

“Both sides need to resolve today’s issues while focusing on the future,” said Ambassador Paemen. “The millennium has begun on a low note in the relationship. We can and must change that, and we will work at peak level toward that end.”

Comprised of more than 70 EU and U.S. companies, the EABC is the leading business association active on transatlantic trade, tax and investment and policy issues.

“The board’s appointment of ambassadors Eizenstat and Paemen should not be seen simply as a ‘signal’ to the governments on both sides of the Atlantic – but a clear statement that the EABC will be an active partner in voicing our concerns and solutions to the significant challenges threatening the relationship,” said Willard Berry, EABC president. “We will be strong and we will be vocal in our advocacy for the business communities of the U.S. and EU, and we will be equally vocal and strong in our support for improving relationships between the two continents’ governing bodies.”

Ambassador Paemen, adjunct professor at the BMW Center for German and European Studies of the Edmund A. Walsh School of Foreign Service at Georgetown University, has a career that spans decades in foreign service. He served at the European Commission as chief of staff for Vice-President Viscount Davignon; as spokesman under President Jacques Delors; and as deputy director general for external relations, leading the European negotiating team during the multilateral trade negotiations of the Uruguay Round. He is a senior advisor to Hogan & Hartson and the German Marshall Fund. Ambassador Paemen wrote “From GATT to the WTO, The European Community in the Uruguay Round.”

Ambassador Eizenstat has an outstanding career in public service. Under President Clinton, he served as deputy treasury secretary, under secretary of the Commerce Department, undersecretary of State, special representative of the President and Secretary of State on the Holocaust and ambassador to the European Union. Under President Carter, Ambassador Eizenstat served as assistant for domestic affairs and policy and executive director of the domestic policy staff at the White House. Among his many accomplishments is the prominent role he played in negotiating and developing key international initiatives for the Transatlantic Agenda with the EU. He is a partner in the law firm of Covington & Burling and a senior advisor to APCO Worldwide, a global strategic communications firm, both headquartered in Washington, D.C.

The EABC is viewed as highly substantive, unique in both its membership composition and in its recognized role as an authoritative, highly credible and effective voice on transatlantic policy issues. EABC’s work includes providing a forum for dialogue on transatlantic issues; preventing U.S./EU disputes and roadblocks to desirable policy outcomes; shaping quality and workable issue strategies; and helping member companies achieve business objectives. More information can be found on www.eabc.org.

For more information, please contact Noël Decker, ndecker@cov.com, 202.662.6361.

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