NEWS RELEASE

ASTO Seal

Arizona State Treasurer Dean Martin

FOR IMMEDIATE RELEASE Contact: Kimberly Yee

January 30, 2007 (602) 604-7882

STATE TREASURER DEAN MARTIN NAMES TIMOTHY WHITE AS CHIEF INVESTMENT OFFICER

(STATE CAPITOL, PHOENIX ) – State Treasurer Dean Martin has promoted Timothy D. White as the Chief Investment Officer (CIO) for the Arizona State Treasurer’s Office (ATSO). As CIO, White is responsible for the daily implementation of the state’s investment strategies for approximately $11.5 billion in fixed income and equity portfolios, and will manage the investment professionals at ATSO.

“Tim White is a great asset to the State of Arizona and the Treasurer’s Office. I am glad to have him as part of our leadership team,” Treasurer Martin said.

As CIO, White will oversee investment operations for state agency participants, Local Government Investment Pool (LGIP) participants, as well as permanent land endowment beneficiaries commensurate with the Treasurer’s policy objectives of safety, liquidity and return on investment.

White has served five State Treasurers for 15 years at the State Treasurer’s Office. As the former Senior Portfolio Manager, White managed diverse portfolios that include equities and fixed-income securities. His fixed income investment experience includes a wide spectrum from money markets to mortgage-backed securities. He has also analyzed corporate credit structures as the Fixed-Income Investment Portfolio Analyst.

He holds a B.S.B.A. in Finance from Northern Arizona University and received certification from the Institute for Public Finance at Kellogg Graduate School of Management, Northwestern University .