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Kenneth Frier appointed CIO of UAW Retiree Medical Benefits Trust

      Kenneth Frier appointed CIO of UAW Retiree Medical Benefits Trust

PR Newswire

DETROIT, July 10, 2012

DETROIT, July 10, 2012 /PRNewswire/ --Kenneth Frier has been appointed chief
investment officer (CIO) of the UAW Retiree Medical Benefits Trust effective
August 1. Frier most recently served as CIO of the Stanford Management Company
and held similar positions at Hewlett Packard and Disney.

The UAW Retiree Medical Benefits Trust ("Trust") provides access to health
benefits for 840,000 General Motors, Chrysler, and Ford hourly retireesThe
Trust is an independent entity formed in 2007 as a result of collective
bargaining agreements betweenthe UAW and Chrysler, Ford and General Motors.
The Trust has approximately $54 billion in assets.

The announcement of Frier's appointment was made today by Robert Naftaly,
chairperson of the Trust.

"The Trust has a unique mission to serve as a source for retiree health care
coverage for nearly one million members over time," said Naftaly. "This
mission requires the Trust to be a responsible steward of its assets. Ken's
strength is managing risk which will help the Trust create a customized
investment strategy to meet its long term needs."

Frier's background, which includes both pension and endowment asset management
is uniquely suited to the needs of the Trust according to Adam Blumenthal,
chair of the Trust's Investment Committee and partner, Blue Wolf Capital
Partners.

"The Trust is a hybrid. While not a pension or an endowment, the Trust has
characteristics of both. The Trust has a defined population of retiree members
with a relatively predictable set of health benefit needs. The invested assets
of the Trust fund the health benefits," said Blumenthal, who chaired the CIO
search committee. "Ken's familiarity with both pension and endowment
investment strategies is what attracted the Trust to Ken. Ken also brings a
track record of success in using investment risk analysis to optimize
investment returns. We will learn from Ken's experiences."

Frier served as CIO at Stanford Management Company in 2010 and 2011.
Previously he spent 10 years with Hewlett-Packard Company, including serving
as CIO from 2007 to 2010 managing $33 billion in retirement plan assets. From
1999-2000, Frier was executive vice president and chief financial officer with
firstsource.com. From 1991-1999 Frier served as vice president corporate
treasury with The Walt Disney Company where he spent two years overseeing the
$2.5 billion retirement plan assets.

Frier will relocate to Michigan from California.

The national CIO search was conducted by SpencerStuart.

SOURCE UAW Retiree Medical Benefits Trust

Contact: Patricia McCarthy, Off: +1-313-882-9200, Cell: +1-313-418-4155
 
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