NEWS RELEASE 03/12/13

Financial Accounting Foundation Names Jeffrey W. Rubin as Vice President and General Counsel

Norwalk, CT, March 12, 2013—The Financial Accounting Foundation (FAF) has named Jeffrey W. Rubin as its vice president and general counsel, the FAF announced today. In his new role, Mr. Rubin will provide strategic legal advice and guidance to the FAF, which oversees the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB).

"We´re very pleased to welcome Jeffrey to the FAF team," said FAF President and CEO Teresa S. Polley. "His extensive experience in securities law and corporate governance, coupled with his significant involvement with the American Bar Association´s Business Law Section, will be of immense value to the FAF."

Mr. Rubin, who will be based in Norwalk, joins the team with career-long experience in corporate securities law and mergers and acquisitions. Prior to joining the FAF, Mr. Rubin was a partner at Hogan Lovells US LLP, where he focused on domestic and international securities transactions, corporate finance transactions, private equity, and venture capital, as well as corporate governance.

Mr. Rubin served as chair of the American Bar Association´s Federal Regulation of Securities Committee from 2009 to 2012, and previously served as chair of the New York State Bar Association´s Securities Regulation Committee. In addition, Mr. Rubin served as a member of the American Bar Association´s Task Force on Financial Markets Regulatory Reform, whose purpose was to study and analyze legal and regulatory implications of financial crises.

Mr. Rubin was awarded the American Bar Association´s Business Law Section Chair´s Award in August 2012 for his contributions to the Section. He received his Bachelor of Arts degree from The State University of New York—Binghamton and his Juris Doctor degree from Syracuse University College of Law.