PRESS RELEASES

HOUSTON MAYOR BILL WHITE NAMES A HOUSTON BANKING EXECUTIVE AS NEW DIRECTOR OF HOUSING AND COMMUNITY DEVELOPMENT

February 20, 2007 -- Mayor Bill White today announced the selection of retired JP Morgan Chase Senior Vice-President Richard Celli as the new Director of the City of Houston Housing and Community Development Department (HHCD). Celli served as Manager of the Community Development lending, outreach and small business banking for JP Morgan Chase Inc., in Texas.

"Richard Celli is well equipped to continue the process of taking this department to the next level in professionalism, customer service and getting things done on the ground in some of our most neglected neighborhoods," said Mayor White. "He and the department will be of great service to our citizens who just struggle to get by every day."

"One important step in improving the department will be to focus on building public private partnerships that will enhance our ability to provide better quality of life and revitalization of Houston's underserved neighborhoods," said Celli.

Celli's community and civic participation has been extensive. He served as a member of the Houston Hispanic Chamber of Commerce Corporate Advisory Board; the Coalition for the Homeless; the Credit Coalition of Texas; the Center for the Retarded and others. He also served as Chairman of the U.S. Small Business Administration District Advisory Counsel.

Mayor White thanked David Mincberg who served as the interim Director of HHCD.

The mayor has asked Mr. Mincberg and Mr. Celli to ensure the department is organized to support its principal product lines including; single-family home construction in neglected neighborhoods, rehabilitation of affordable, multi-family housing; home repair; financing of neighborhood facilities and infrastructure in our lowest-income neighborhoods.

Mr. Celli will assume his responsibilities, officially upon confirmation by City Council.