PRESS RELEASE

Change of presidency of the European Central Bank

1 November 2003

Today, Mr Jean-Claude Trichet, former Governor of the Banque de France, has taken up his duties as President of the European Central Bank (ECB).

He was appointed on 16 October 2003 by common accord of the governments of the Member States that have adopted the euro at the level of Heads of State or Government for a term of office of eight years.

He succeeds Dr Willem F. Duisenberg, who was President of the ECB from 1 June 1998 to 31 October 2003.

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