Carlucci Joins PSI Board of Directors

WASHINGTON, DC, Oct. 21, 2003 — Frank Carlucci, chairman emeritus of the Carlyle Group, has joined the PSI board of directors. Mr. Carlucci has more than half a century of distinguished service in the public and private sectors, and has held a number of top government positions, including secretary of defense in the Reagan Administration.

Mr. Carlucci has been a managing director of Carlyle since 1989, chairman since 1993 and chairman emeritus since January 2003. Mr. Carlucci was secretary of defense from 1987-89, following his service as assistant to the president for national security affairs under President Reagan. He was chairman and CEO of Sears World Trade, a business he joined in 1983. Mr. Carlucci preceded that affiliation with a career in government service, including deputy secretary of defense (1980-82), deputy director of Central Intelligence (1978-80), ambassador to Portugal (1975-78), under secretary of Health Education and Welfare (1973-75), deputy director of the Office of Management and Budget (1970-72), and director of the Office of Economic Opportunity (1969). He was a Foreign Service officer from 1956 to 1980 and served as an officer in the U.S. Navy from 1952 to 1954.

Mr. Carlucci is chairman emeritus of Nortel Networks and the US-Taiwan Business Council and chairman of the boards of directors of Neurogen Corporation, Center for Excellence in Education, Citizens Network for Foreign Affairs and the Private Sector Council. He is co-chair of the Air Force Memorial Foundation, honorary director of the National Defense University Foundation, Inc., and chair of committee for the U.S. Military Cancer Institute. Additionally, he serves as a member of the corporate boards of SunResorts, Ltd., N.V.; Encysive Pharmaceuticals Inc. (formerly Texas Biotechnology Corporation) and United Defense L.P.

Among Mr. Carlucci's awards and honors are the Herbert Roback Memorial Award, 1989; George C. Marshall Award, 1989; Honorary Doctor of Laws Degree, University of Scranton, 1989; Woodrow Wilson Award, 1988; James Forrestal Award, 1988; Presidential Citizens Award, 1983; National Intelligence Distinguished Service Medal, 1981; Distinguished Intelligence Medal, 1981; Defense Department Distinguished Civilian Service Award, 1977; Health, Education and Welfare Distinguished Civilian Service Award, 1975; and State Department Superior Service Award, 1971.

Mr. Carlucci was born on October 18, 1930, graduated from Princeton University and attended Harvard Business School. He is married to the former Marcia Myers, and has three children: Frank, Karen and Kristin.

— David J. Olson

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Frank Carlucci, former secretary of defense in the Reagan Adminstration, has joined PSI's board of directors.