Office of State Treasurer James H. Douglas
133 State Street
Montpelier, Vermont 05633
Telephone (802) 828-2301

PRESS RELEASE

DOUGLAS ENDS YEAR AS HEAD OF TREASURERS’ GROUP
FOR IMMEDIATE RELEASE

DATE: November 30, 2001

MONTPELIER – State Treasurer James H. Douglas ends his year as President of the National Association of State Treasurers today, citing numerous successes for the organization during the past twelve months.

"NAST achieved one of our key Congressional objectives: tax exemption for earnings on qualified college savings plans. That means that the Vermont Higher Education Investment Plan, administered by VSAC, will be an even better way for Vermont families to save for college."

Douglas also noted that the National Association of Unclaimed Property Administrators became a NAST affiliate at the beginning of the year. "Reuniting owners with their abandoned property has been a priority of mine since becoming State Treasurer," he said. "I’m proud that Vermont has returned the highest percentage in the nation for three consecutive fiscal years. We now have a national database, with a majority of states participating, so those who have lived in other states can check for abandoned property outside Vermont."

NAST sponsored conferences and meetings on various topics during the year, including investing, public finance, debt issuance, college savings programs and unclaimed property, according to the Treasurer. "I’ll never forget this year’s annual conference: my colleagues and I were in New Mexico on September 11. It took most of us several extra days to return home."

Douglas turns the NAST presidency over to Georgia Treasurer W. Daniel Ebersole, who has served this past year as Senior Vice President of the Association.