PRESS RELEASE

Change of presidency of the European Monetary Institute

1 July 1997

Dr. Willem Frederik Duisenberg, former Governor of De Nederlandsche Bank, took office as President of the European Monetary Institute (EMI) in Frankfurt am Main on Tuesday, 1 July 1997. Dr. Duisenberg was appointed by the European Council in Dublin on 13 December 1996. He succeeds Baron Alexandre Lamfalussy, who was President of the EMI from 1 January 1994 until 30 June 1997.

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