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American Hellenic Institute Public Affairs Committee Announces Election of Nicholas E. Chimicles as New Chariman

FOR IMMEDIATE RELEASE

CONTACT: NICK LARIGAKIS

March 6, 1998 No. 12/98

AMERICAN HELLENIC INSTITUTE PUBLIC AFFAIRS COMMITTEE ANNOUNCES ELECTION OF NICHOLAS E. CHIMICLES AS NEW CHAIRMAN

The American Hellenic Institute Public Affairs Committee (AHIPAC) takes great pride and pleasure in announcing the election of Nicholas E. Chimicles, Esq. as the new Chairman of AHIPAC. Mr. Chimicles succeeds Mr. Savas C. Tsivicos.

Mr. Chimicles is Senior Partner of Chimicles, Jacobsen, and Tikellis, a law firm with offices in Haverford, PA, Wilmington, DE, and Los Angeles, CA. The firm handles complex litigation in antitrust, securities, consumer, ERISA, and environmental matters.

Mr. Chimicles received his Bachelor of Arts degree with Honors in 1970 from the University of Pennsylvania. In 1973 he received his J.D. degree from the University of Virginia Law School where he was on the editorial board of the Virginia Law Review. Before founding his own firm in 1981, Mr. Chimicles practiced with a major Philadelphia law firm where he specialized in complex commercial, antitrust, and securities fraud cases. As a litigator, Mr. Chimicles has acted as lead or co-counsel in dozens of litigations that through trial or settlement have garnered hundreds of millions of dollars for investors and consumers.

He acted as Special Counsel for the City of Philadelphia and for the Philadelphia Housing Authority in an action seeking lead paint abatement in public housing. He is admitted to practice at the Supreme Court of the United States, numerous federal district and appellate courts as well as the Supreme Court of Pennsylvania. He is a member of the American, Pennsylvania, and Philadelphia bar associations.

Mr. Chimicles has lectured frequently on securities law and complex litigation at universities and professional associations. He is a member of the Board of Overseers of the School of Arts and Sciences at the University of Pennsylvania. He serves on the advisory boards of several professional organizations and is the author of numerous professional articles.

Mr. Chimicles' wife, Kathleen P. Chimicles, is the law firm's financial specialist.

Asked about his reason for becoming chairman of AHIPAC, Mr. Chimicles stated: "AHIPAC is a key vehicle that providers legislators and the media with critical and accurate information, data and positions about the Aegean and Eastern Mediterranean, a region that is significant to U.S. and Hellenic interests. It is a region to which I have strong cultural and ethnic attachments. My professional career of representing wronged investors and consumers, who are often underdogs in the litigation arena, will assist me in conveying AHIPAC's point of view which is based on the rule of law."

AHIPAC was established in 1975 as the legislative affiliate of the American Hellenic Institute (AHI). It is the only American Hellenic organization registered with the U.S. Congress under the Lobbying Act. It has initiated legislation on the Aegean, Cyprus and the rule of law, conditions on aid to Turkey, protection of the Ecumenical Patriarchate, the reopening of the Halki Theological School, and the Former Yugoslav Republic of Macedonia.

AHIPAC founder Eugene T. Rossides stated: "We are delighted and privileged that Mr. Chimicles has agreed to assume the responsibilities of Chairman of AHIPAC. I would also like to thank the outgoing Chairman Mr. Savas Tsivicos for his outstanding service during the past two years."