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OCC Announces Retirement of Bill Navin, Names James Brown New General Counsel

CHICAGO (February 1, 2012) OCC announced today the retirement of Bill Navin, Executive Vice President, General Counsel and Chief Legal Officer of OCC. Mr. Navin joined OCC in July 1999, but was previously OCC’s outside counsel at Schiff Hardin & Waite. As a Schiff partner, Mr. Navin represented OCC since its inception in 1973.

"Bill has truly been part of our team since the very beginning. We sincerely appreciate his years of guidance, dedication, and leadership and wish him the best in his retirement," said Wayne Luthringshausen, OCC Chairman and CEO.

OCC also announced that James E. Brown has joined OCC as Executive Vice President and General Counsel to succeed Mr. Navin. Mr. Brown comes to OCC from Schiff Hardin LLP, where he has served since 1983.

"We are very pleased to welcome Jim to OCC as General Counsel. He has extensive legal experience and has done work for OCC over the years," said Luthringshausen.

Mr. Brown’s practice concentrations included corporate and commercial law for privately held and publicly traded corporations, as well as secured and unsecured public and private financings for lenders and borrowers. Mr. Brown is a graduate of The Ohio State University and the University of Chicago Law School.

About OCC

OCC is the world's largest equity derivatives clearing organization. Founded in 1973, OCC operates under the jurisdiction of both the Securities and Exchange Commission (SEC) as a Registered Clearing Agency and the Commodity Futures Trading Commission (CFTC) as a Derivatives Clearing Organization. OCC now provides central counterparty (CCP) clearing and settlement services to 15 exchanges and trading platforms for options, financial and commodity futures, security futures and securities lending transactions. More information about OCC is available at www.theocc.com.