U.S. Chamber Elects John Bachmann Chairman

WASHINGTON, D.C. – The United States Chamber of Commerce board of directors elected John Bachmann, Senior Partner with Edward Jones in St. Louis, as its new Chairman for 2004-2005. Edward Jones is one of the leading financial investment firms in the world, serving individual investors and business owners in the U.S., Canada and the United Kingdom.

"The Chamber is fortunate to have as its chairman someone with John's tremendous experience," said Chamber President and CEO Thomas Donohue. "He will provide valuable leadership in the Chamber's efforts to advance a pro-business agenda in the courts, in the Congress and in the regulatory agencies."

During his term as Chairman, Bachmann will focus on four critical business issues including: tort reform, greater access to health care, the benefits of trade and global sourcing, and reform of the retirement system.

"Given demographic changes, our retirement system is unsustainable," said Bachmann. "If it acts now, America has an opportunity to avoid what's currently happening in parts of Europe—retirement benefits being cut."

Bachmann has served on the U.S. Chamber's board since 1995, and also served as a Regional Vice Chairman since 2001. Under Bachmann's leadership, Edward Jones has twice topped Fortune magazine's list of "The Best Company to Work For." Bachmann served as a member of the board of the Chicago Stock Exchange and served two consecutive terms as Chairman of the Securities Industry Association. He also chaired the 2002 campaign for the United Way of Greater St. Louis and the St. Louis Regional Chamber & Growth Association. He is currently a member of the board of AMR Corporation, parent of American Airlines, the Monsanto Company and the National Association of Securities Dealers. He holds a bachelor's degree in economics from Wabash College and an M.B.A. from Northwestern University.

The U.S. Chamber of Commerce is the world's largest business federation, representing more than three million businesses of every size, sector and region.

# # #

04-78