FOR IMMEDIATE RELEASE

Contact:

Scott Sunshine	Chris Allen
TowersGroup	FEI
(212) 354-5020	(973) 898-4658
scottsunshine@towerspr.com	callen@fei.org

FEI REISSUES CODE OF ETHICS
FOR FINANCIAL PROFESSIONALS
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Emphasizes Responsibility to Proactively Promote Ethical Behavior
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Morristown, NJ, March 20, 2002 - Financial Executives International (FEI), the leading organization for CFOs and other senior financial executives, today reissued its Code of Ethics for Financial Professionals, which is signed by all FEI members. The Code now requires those who sign to "proactively promote ethical behavior as a responsible partner among peers, in the work environment and the community."

SEC Chairman Harvey Pitt encouraged the review and reissuance of the FEI Code of Ethics in the wake of the Enron bankruptcy. As part of its review process, FEI invited public comment on the Code for a 30-day period in February and March 2002. More than 200 executives provided input on the revisions.

"FEI recommends that all senior financial officers, accounting officers, controllers, treasurers and chief investor relations officers -- whether they belong to FEI or not -- sign the Code of Ethics and deliver it to their audit committee," said Philip B. Livingston, President & CEO of FEI. "Best practice in this area is that all finance, accounting, tax and investor relations personnel annually sign the Code."

A recommendation urging adherence by financial executives to a specialized code of conduct was first among 12 recommendations published today by a special FEI task force assembled to address industry reform in response to Enron.

FEI Code of Ethics
Following is the updated Code, also available on the FEI Web site at www.fei.org

"FEI's mission includes significant efforts to promote ethical conduct in the practice of financial management throughout the world. Senior financial officers hold an important and elevated role in corporate governance. While members of the management team, they are uniquely capable and empowered to ensure that all stakeholders' interests are appropriately balanced, protected and preserved. This code provides principles which members are expected to adhere to and advocate. They embody rules regarding individual and peer responsibilities, as well as responsibilities to employers, the public, and other stakeholders.

All members of FEI will:

1. Act with honesty and integrity, avoiding actual or apparent conflicts of interest in personal and professional relationships.
2. Provide constituents with information that is accurate, complete, objective and relevant.
3. Comply with rules and regulations of federal, state, provincial, and local governments, and other appropriate private and public regulatory agencies.
4. Act in good faith, responsibly, with due care, competence and diligence, without misrepresenting material facts or allowing one's better judgment to be subordinated.
5. Respect the confidentiality of information acquired in the course of one's work except when authorized or otherwise legally obligated to disclose. Confidential information acquired in the course of one's work will not be used for personal advantage.
6. Share knowledge and maintain skills important and relevant to constituents' needs, including employers, peers and the public.
7. Be recognized as a responsible partner among peers and in society.
8. Achieve responsible use of and control over all assets and resources employed or entrusted."

About FEI

Financial Executives International, the leading advocate for the views of corporate financial management, is a professional association of 15,000 CFOs, treasurers and controllers. FEI enhances member professional development through peer networking, career management services, conferences, publications, and special reports and research. For more information, visit FEI's web site at http://www.fei.org.