November 8, 2002

Soros Names New President and CEO

NEW YORK (HedgeWorld.com)--Soros Fund Management LLC hired a new president and chief executive, Mark Schwartz, who will replace William Stack on Jan. 1.

Officials for Soros declined comment. Mr. Stack had just joined Soros a year ago, replacing Robert Soros, the son of George Soros, who is the founder and chairman of the company.

Mr. Schwartz most recently was chairman of Goldman Sachs (Asia) and was on Goldman's management committee. His job will be to oversee all of the company's financial interests and to build the organization to outlast George Soros, who continues as chairman of the company. Mark Soros also continues as vice chairman.

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