Bechtel Enterprises' Daniel Chao Named to Export-Import Bank Committee

San Francisco - March 20, 2002 Daniel K. H. Chao, executive vice president and managing director of Bechtel Enterprises Holdings, Inc., has been appointed a member of the Advisory Committee for the Export-Import Bank of the United States (Ex-Im Bank) for 2002.The Ex-Im Bank is the official export credit agency of the United States. Since its founding in 1934, the Ex-Im Bank has supported more than $400 billion of U.S. exports worldwide. In the last five years, the Ex-Im Bank has authorized financing support in the amount of $57.7 billion for 11,650 export transactions with an export value of $72.7 billion.

The Advisory Committee brings together representatives of various sectors of the U.S. economy to advise Ex-Im Bank on how to improve its programs, customer service, and its competitiveness with other export credit agencies.

“It's a privilege to serve on Ex-Im Bank's Advisory Committee,” said Chao. “The Bank plays a critical role in helping U.S. companies export their goods and services around the world, and I'm pleased to have the opportunity to assist them enhance their mission to create jobs that support the U.S. economy.”

Chao is a 16-year veteran of the Bechtel organization and has served in a variety of financing and investment positions during his career. At Bechtel Enterprises, the company’s development, financing, and ownership affiliate, he is responsible for managing Bechtel Enterprises’ development and financing activities in the area of civil infrastructure, including aviation and surface transportation. Additionally, Mr. Chao heads up Bechtel Enterprises’ Structured Finance group and manages its regional offices around the world.

Chao joined Bechtel in 1986 as a vice president in Bechtel’s Financing Services group and became manager in 1992. Since then, he has held a variety of positions in building up the financing and development capability of Bechtel Enterprises. Prior to joining Bechtel, Chao was a vice president of Citicorp Investment Bank and Chemical Bank, where he specialized in domestic and international financings. He received a B.A. from Stanford University, an M.A., M.A.L.D. and a PhD from the Fletcher School of Law and Diplomacy, and an Advanced Professional Certificate in Business from New York University.

Dr. Chao is Chairman of the California-Asia Business Council and a member of the Board of Directors of the U.S.-China Business Council, among other memberships and directorships. He is also a registered representative with the National Association of Securities Dealers, Inc.

Bechtel Group, Inc. is one of the world’s premier engineering, construction, and project management companies. It has participated in more than 20,000 projects in 140 countries on all seven continents. Over the last 10 years, Bechtel Enterprises and its affiliated companies have assisted in arranging $24 billion in project financings for clients and for its own developments worldwide. Since its inception in 1985, Bechtel Enterprises and its subsidiaries have developed and invested in 75 major projects with a total installed cost of more than $28 billion.