NEW YORK, Oct. 24 /PRNewswire/ — The American Stock Exchange(R) (Amex (R)) today announced that its chairman and chief executive officer, Salvatore F. Sodano was elected Chairman of Hofstra University’s Board of Trustees.

“It’s a tremendous honor for me to serve as Chairman of the Board of Trustees and assist Hofstra in continuing its long established commitment to the advancement of academic, social and cultural education,” said Salvatore Sodano, chairman and chief executive officer of the American Stock Exchange. “I am very excited to work with the University and its Board of Trustees and contribute to the continued development of this great institution.”

As Chairman of the Board, Mr. Sodano will work with the Board of Trustees to set policies and oversee the management of the business and affairs of the University.

“Sal Sodano has been a longtime friend of Hofstra University. He has distinguished himself as a standout business and community leader,” said Stuart Rabinowitz, president of Hofstra University. “Sal will be extraordinarily effective in his role as Chairman. We are proud to call him a Hofstra Alumnus and fortunate to have him remain so committed to the Hofstra community.”

Mr. Sodano was elected chairman and chief executive officer of the American Stock Exchange in September 1999; he had been acting president of the Amex since March 1999. He was an integral part of the team that negotiated the acquisition of the Amex in 1998 and led its integration into the NASD. Since then, Mr. Sodano has guided the Amex through a renaissance — reengineering the Amex into its three strong core businesses: equities, options and exchange traded funds.

Mr. Sodano has served in a variety of capacities for the NASD since 1997, and continues to serve as vice chairman of the NASD and as a member of its Board of Governors. Prior to the NASD, Mr. Sodano was chief manager and principal operating officer of Westpac Banking Corporation’s Americas division. Mr. Sodano has also held key positions at Bankers Trust Company, Price Waterhouse and Morgan Guaranty International Finance Corporation.

Mr. Sodano received his bachelor’s degree in accounting and economics and his master’s degree in finance and investments from Hofstra University. Prior to his appointment as Chairman of the Board of Trustees, Mr. Sodano was co- chair of Hofstra’s Endowment Committee and a member of the Finance and Development Committees. He remains a member of the Dean’s Executive Council for the Frank G. Zarb School of Business and the Business Advisory Board of The Merrill Lynch Center for the Study of International Financial Services and Markets, both at Hofstra.

Mr. Sodano is a member of The Economic Club of New York, and in May 2000 received the prestigious Ellis Island Medal of Honor award, recognizing him for both his personal and professional achievements. In April 2001, he was named to the distinguished post of knight for the Sacred Military Constantinian Order of Saint George. In May 2001, Mr. Sodano was appointed by the Mayor of Beijing to serve on the Chinese Economic Zone Advisory Board for Zhongguancun Science Park, China’s premiere high tech development zone.