wfn.org | ABCUSA: Marsh Concludes Service as MMBB Finance Committee Chair; Cobb, Jr. Appointed Successor

["Jayne, Andy" <Andy.Jayne@abc-usa.org>]

VALLEY FORGE, PA (ABNS 05/22/08) - William B. Marsh, who served as chair
of The Ministers and Missionaries Benefit Board's (MMBB) Finance
Committee from 2002 to May 2008, concluded his service to the Board at
its May 6, 2008, Board of Managers meeting. Marsh was elected to the
Board and appointed to the Finance Committee in 1996.

Marsh first came to know MMBB when, as a partner and executive vice
president with State Street Research and Management Company, he managed
MMBB assets from 1971 through 1992. In recognition of his careful
guidance and oversight of MMBB investment policy, which directly
improved the lives of thousands of MMBB members and their families, the
MMBB Board of Managers presented Marsh with a plaque and crystal bowl.

Commenting on Marsh's service, Dr. Sumner Grant, MMBB's executive
director, said, "We are indebted to Bill Marsh for his long and
dedicated service to our Board and his passionate concern for the
financial security of our members and their families. We are fortunate
to have had a person of Bill's talent leading our investment program for
the past six years. We wish him a full and rewarding retirement."

Succeeding Marsh as chair of the Finance Committee is William L. Cobb,
Jr. Cobb currently serves as executive vice president and chief
investment officer of The Church Pension Fund, a nine-billion dollar
plan for clergy of the Episcopal Church. A former vice chairman of J. P.
Morgan Investment Management, Cobb has been a member of the Finance
Committee since 2000.

The Finance Committee welcomed Victor J. Raskin as a new member. Raskin
is the chief investment officer for the YMCA Retirement Fund. He has
also managed institutional investment portfolios at Nicholas Applegate
Capital Management, Smith Barney Inc. and Schaenen Wood & Associates.

Andrew C. Jayne American Baptist Churches USA Mission Resource Development http://www.abc-usa.org/