FOR RELEASE:  Immediate, Wednesday, May 30, 2007

Portia Lee named as Managing Director of Public Finance

ALBANY, N.Y. – The Board of the Dormitory Authority met today at its corporate headquarters in Albany and named Portia Lee as Managing Director of Public Finance effective June 4, 2007. Ms. Lee previously served as the Senior Investment Officer at the New York State Comptroller’s Office where she was responsible for assisting in the administration of the $30 billion long-term fixed income portfolio of the New York State Common Retirement Fund, as well as the $3.4 billion short-term portfolio, and the $21 billion Securities Lending Program. In this position, Ms. Lee was directly involved in managing and trading bonds, preparing monthly asset allocation reports and making recommendations regarding portfolio rebalancing for the $140 billion New York State Common Retirement Fund.

Prior to that, Ms. Lee was Vice President and Senior Credit Officer at Moody’s Investors Service’s Public Finance Housing Group, where she was responsible for evaluating the creditworthiness of municipal debt. She has worked at Moody’s Investor Service for 10 years and has extensive experience in risk assessment, managing relationships with issuers, bankers, financial advisors and investors, and developing policy affecting bond-financing.

In addition, she has extensive public service experience in the Executive Chamber, New York State Department of Social Services, as well as the New York State Assembly. She is a graduate of the State University of New York at Albany where she received her bachelor’s degree summa cum laude. Ms. Lee succeeds Cheryl Ishmael who is undertaking special projects relating to capital markets for the Dormitory Authority.

“Portia Lee’s substantial public finance, credit analysis and bond issuance experience will help meet our clients’ existing needs and provide leadership in developing new financial products for our clients’ future capital needs,” said David D. Brown, IV – Executive Director of the Dormitory Authority.

The Board’s next meeting will be at 9:30 a.m. June 27, 2007 at its corporate headquarters in Albany.
Contact: Marilyn Fountain, Assoc. Manager of Comm. + Marketing at (518) 257 3388, or mfountai@dasny.org .

The Dormitory Authority, founded in 1944, is the largest higher education, health care and public-purpose bonding and construction authority in the nation. During the past five fiscal years the Authority has issued more than $23.6 billion dollars in capital for its clients and has expended more than $4.3 billion on construction projects that it manages. The Authority has a current construction pipeline of 675 projects valued at $5.7 billion. In addition to the $4.3 billion in construction the Authority has put in place over the past five years, the Authority’s financings during that same period have funded more than $7 billion in new projects that have been managed by its clients. DASNY has an outstanding bond portfolio of more than $34.2 billion.