Greenspan salutes Levitt

THE US Federal Reserve Chairman, Mr Alan Greenspan, saluted Mr Arthur Levitt, who announced he will resign as the SEC Chairman in February, 2001.

``Mr Arthur Levitt has much to be proud of in his lengthy and careful stewardship of the Securities and Exchange Commission. Our nation has benefited from his service and he will be missed by all of us who had the pleasure of working with him on a daily basis. Our relationship will continue after Mr Levitt steps down. I am, of course, hopeful that he will continue to agree to the occasional round of golf, and I wish him all good things as he ponders his next tough assignment.''

Chairman Levitt is the 25th Chairman of the US Securities and Exchange Commission. He was first appointed by President Clinton in July 1993. The President reappointed Chairman Levitt to a second five-year term in May 1998. On September 9, 1999, he became the longest-serving Chairman of the Commission.

(Source: http://www.sec.gov/news/levittgo.htm)