Government of the Federated States of Micronesia

Raigetal appointed as Chairman of FSM Banking Board

PALIKIR, Pohnpei (FSM Information Service): March 20, 1998 – President Jacob Nena, on
March 12th appointed Larry Raigetal as Chairman of the three member FSM Banking Board.

Nena also congratulated Raigetal, a Foreign Service Officer, Department
of Foreign Affairs for winning the confirmation of Congress for his nomination along with
Ms. Rose Nakanaga from the Investment office of the FSM Department of Finance and
Administration, and Tony Otto, Special Assistant to President on Legislative Matters.

The Board is tasked with the supervision and institutional strengthening
of the banking institutions in the FSM and is staffed by a Banking Commissioner, a
Financial Analyst and a Secretary.

Nena expressed his confidence that Raigetal, with his credentials, will
bring improvement and benefits to the Board of Chairman.