Three Elected to Caltech Board of Trustees

PASADENA, Calif.--John E. Bryson, chairman, president, and chief executive officer of Edison International; A. Michael Lipper, founder and chief executive officer of Lipper Advisory Services Inc.; and Donald W. Tang, vice chairman of Bear, Stearns & Co. Inc., have been elected to the Board of Trustees of the California Institute of Technology. The announcement was made by David Baltimore, president of Caltech.

Bryson is a graduate of Stanford University and Yale Law School. His company is based in Rosemead, California, and is the parent company of Southern California Edison, Edison Mission Energy, and Edison Capital.

Bryson joined Edison in February 1984, and was elected chairman and CEO of Edison International and Southern California Edison in 1990.

Prior to joining Edison, Bryson was a partner in the law firm of Morrison and Foerster. From 1979 to 1982 he served as president of the California Public Utilities Commission, and before that, he was chairman of the California State Water Resources Control Board. Earlier, he served as a cofounder and attorney for the Natural Resources Defense Council.

Bryson is a director of the Boeing Company, the W. M. Keck Foundation, and the Walt Disney Company. He is cochair of the Pacific Council on International Policy and serves or has served on a number of educational, environmental, and other nonprofit boards, including as chairman of the California Business Roundtable and as a trustee of Stanford University.

A native of New York and a resident of New Jersey, Lipper founded Lipper Analytical Services Inc. in 1973 as an investment firm dedicated to the analysis of funds and brokerage firms. He sold it to Reuters Group PLC in 1998, and Reuters has transformed the firm into Lipper Inc.

Lipper is also a managing member of L&S Partners, a private financial services hedge fund. He is president of Lipper Advisory Services, a registered investment adviser, utilizing Mutual Funds for institutional investors. He also continues to accept a limited number of consulting assignments dealing with funds and brokerage firms, through Lipper Consulting Services Inc.

He was president of the New York Society of Security Analysts for the 1993-94 term, and for many years was chairman of the organization's investment strategy forum/portfolio management committee. In May 2003 he was reelected to the organization's board as its treasurer.

Lipper has been a regional director of the Financial Analysts Federation and was a founding member and director of the International Society of Financial Analysts of the Association for Investment Management and Research. He is a past chairman of the specialty firms advisory committee (now known as the New York Firms Committee) of the New York Stock Exchange. Lipper chairs the investment committees for the New Jersey Performing Arts Center and the Atlantic Health System.

Tang is a native of Shanghai, China, and has been affiliated with Bear Stearns since 1992. Originally assigned to the Los Angeles office as senior managing director, he went to Hong Kong as president and chief executive officer of Bear Stearns Asia, where he built and managed the firm's four Asian offices.

He was elected to the board of directors in 1997, and assigned to Chicago in 1999 as head of the Midwest region. In 2001, he returned to Los Angeles to assume his current Asia and West Coast responsibilities, and in May 2004 received his new appointment as vice chairman. Prior to his Bear Stearns career, Tang held senior positions at Lehman Brothers and Merrill Lynch.

Tang is a trustee of the Los Angeles County Museum of Art, a member of the RAND Center for the Asia Pacific Policy advisory board, and chairman of RAND's banking reform committee on China. He is also chairman of the Asia Society of Southern California, a member of the board of trustees of the Asia Society, and a trustee of the California Science Center Foundation.

Also, he is a member of the boards of United Friends of the Children and the United Way of Greater Los Angeles, a member of the business advisory board of the California NanoSystems Institute, a member of the Committee of 100, and a member of the Pacific Council on International Policy.