MEDIA CONTACT: Pat Vaughan Tremmel at (847) 491-4892 or p-tremmel@northwestern.edu

February 3, 2004

McDonough to Deliver Brodsky JD/MBA Fund Lecture

CHICAGO --- William J. McDonough, chairman of the Public Company Accounting Oversight Board (PCAOB), will speak at 5 p.m. Feb. 25 at Northwestern University School of Law, 357 E. Chicago Ave.

Presented by the Brodsky Family Northwestern JD/MBA Fund, the lecture is free and open to the public.

Prior to joining the PCAOB, McDonough served 10 years as president and CEO of the Federal Reserve Bank of New York. He was the vice chairman and a permanent voting member of the Federal Open Market Committee (FOMC), the group responsible for formulating the nation’s monetary policy. McDonough was also a member of the board of directors of the Bank for International Settlements and chairman of the Basel Committee on Banking Supervision.

He joined New York’s Federal Reserve Bank in January 1992 as the executive vice president, head of the bank’s market group, and the manager of open market operations for the FOMC. He spent 22 years with First Chicago Corp. and its bank, First National Bank of Chicago. He was vice chairman of the board and a director of the bank holding company from 1986 until his retirement in 1989. Before joining the New York Fed, McDonough was an advisor to a variety of domestic and international organizations.

McDonough earned a master’s degree in economics from Georgetown University and a bachelor’s degree in economics from Holy Cross College in Worcester, Mass.

William J. Brodsky and his wife, Joan, established the Brodsky JD/MBA Fund in 2001 to honor their children who received graduate degrees from Northwestern. The fund supports the three-year joint JD/MBA program offered by the Northwestern University School of Law and the Kellogg School of Management. The three-year JD/MBA degree program is the most integrated of its kind with one application process and a complementary course of study at the School of Law and Kellogg.