MARK PAULSMEIER APPOINTED AS NEW PRESIDENT OF GLOBAL ASSOCIATION OF BILLIONAIRES AND MILLIONAIRES (GABM)

31 August 2005 

Mark Paulsmeier has been appointed as next President of Global Association of Billionaires and Millionaires (GABM) with effect from the 1st of September 2005. Mr. Paulsmeier succeeds Mr. Jorgé Vicente who completed his five year tenure as President.

Mr. Paulsmeier, also the founding member of GABM, was unanimously elected to the post at GABM's annual general meeting held in New York on 26 August 2005.

"I am extremely excited about my appointment. I look forward to lead GABM in its rapid expansion phase by providing the necessary strategic direction. I will also introduce various initiatives that will ensure the successful outcome of GABM's goals and objectives" said Mr. Paulsmeier.

The members of GABM also announced eight new executives to serve with Mr. Paulsmeier on the Board of Executives.

Mr. Vicente added "I am delighted with the new appointments. They are all very experienced and highly dedicated individuals. I believe they will serve the Board diligently in moving the organization forward through its challenges."

Founded in 2000, GABM's vision is primarily to provide its members with membership in an organization that recognize and acknowledge their respective corporate achievements and social stature. Secondary, in support of GABM's corporate values and its members' aspirations towards entrepreneurial and social development programs, GABM proactively engages in philanthropic programs which in practice allow its members to share their respective corporate experience and resources with deserving and upcoming entrepreneurs.

GABM currently represents approximately 400 billionaires and millionaires globally. According to Mr. Vicente, GABM, together with its associate members, firmly embrace the concept of sound corporate citizenship.

"Our track record and commitment towards philanthropic programs is also clearly evident in GABM's recent $10-million equity grant to the Asian tsunami disaster victims." said Mr. Vicente.