IACPM Names Som-lok Leung Executive Director

New York, NY – The International Association of Credit Portfolio Managers (IACPM) today announced
that it has appointed Som-lok Leung as its executive director, effective May 9, 2005. Mr. Leung,
who has a long and distinguished background in credit portfolio and risk management, joins the IACPM
from Moody’s KMV, where he most recently served as a senior director for client solutions.
“We are delighted to announce that Som-lok has joined the IACPM,” said Gene Guill, chairperson of
IACPM and managing director at Deutsche Bank. “He brings a substantial amount of credit portfolio
management expertise to the position with a long and successful track record of working with many
of our member institutions. The depth of his knowledge and experience will add considerably to the
activities of the Association.”

The IACPM is an industry association established in 2001 to further the management of credit exposures
by providing a forum for member institutions to exchange ideas. The Association represents the interests
of its members to regulators and other administrative bodies, and works with other organizations on
issues relating to the measurement and management of portfolio credit risk. In his previous position at
Moody’s KMV, Mr. Leung led a team responsible for sales, client service and relationship management for
the firm’s clients in the northeast U.S., and also led teams focused on analyzing and improving the
risk/return profile of credit portfolios. Before that, Mr. Leung was director of risk and credit policy
at Nomura Securities, International, director of credit risk control at UBS, and a consultant at
Oliver, Wyman & Co. Mr. Leung is a frequent speaker at industry and client conferences and events.
He holds a B.A. in psychology from Harvard University, where he graduated summa cum laude.

In his new role, Mr. Leung will assume broad responsibility for leading the Association’s further
development and growth. Reporting to the chairperson of the Board of Directors, he will manage the
overall administration of the Association and will take a leadership role in shaping and implementing
the organization’s strategic plans. “I am very pleased to become a part of the IACPM,” said Mr. Leung.
“I look forward to continuing to grow the organization and to serve its members, and welcome the
challenges that lie ahead.”

The IACPM, with 45 member institutions located in ten countries, is a professional association
dedicated to the advancement of credit portfolio management.