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Wednesday, May 07, 2008

AARP Financial Names New Prez

by: Armie Margaret Lee

Richard Hisey, chief investment officer and treasurer of AARP Financial, is stepping into the role of president. Hisey takes over from Larry Renfro, who is returning to Fidelity in June.

AARP Financial is the investment adviser to the AARP Funds.

Apart from his role at AARP Financial, Renfro also serves as president, CEO and COO of AARP Services. At Fidelity, where he held senior roles in the 1980s, Renfro will head up a new organization, Fidelity Developing Businesses.

Company Press Release

WASHINGTON, May 6 /PRNewswire-USNewswire/ -- AARP announced today that John Wider, vice president of Health Products and Services for AARP Services Inc. (ASI) and Jean Alexander, chief marketing officer for ASI and AARP Financial (AFI), will serve as co-leads of ASI. Richard (Mac) Hisey, AFI chief investment officer and treasurer will serve as president of AFI.

The three lead executives will replace former ASI CEO, Larry Renfro, who announced today that he will return to Fidelity in Boston where he began his career. Renfro will serve as Fidelity's President of Developing Businesses and a member of the Fidelity Executive Committee.

"Larry's vision and contributions to AARP Services, Inc will serve the Association for years to come," said AARP CEO Bill Novelli. "We thank Larry for his dedicated service and look forward to working with the new leadership. Their deep knowledge of the health, financial and lifestyle portfolios assure AARP Services, Inc. will execute on its mission to provide affordable health and financial choices for our members."

As Vice President of Healthcare Products and Services, John directed the Health Products and Services department and the AARP Health Care Options program by developing health products and contracts for products and services with Fortune 100 corporations. John is a Member of the AARP Services Executive Team and AARP Leadership Team as well, and supervises the Insurance Trust Board. John joined ASI in March 2006.

Jean Alexander joined ASI in January of 2007 as Chief Marketing Officer of AFI with responsibility for driving the marketing strategy for AFI and AARP Funds through integrated marketing channels. Prior to that, Jean was an Executive VP at Digitas and member of an executive team that grew the company from 30-person direct mail shop to a leader in internet and database marketing with $350 million in revenue and 1800 employees worldwide.

Mac Hisey has been serving as the Chief Investment Officer of AFI and Treasurer for the AARP Funds since 2006. In addition, his experience managing AFI's financial products assures that the outstanding work accomplished at AFI will continue successfully.

About AARP:

AARP is a nonprofit, nonpartisan membership organization that helps people 50+ have independence, choice and control in ways that are beneficial and affordable to them and society as a whole. AARP does not endorse candidates for public office or make contributions to either political campaigns or candidates. We produce AARP The Magazine, the definitive voice for 50+ Americans and the world's largest-circulation magazine with over 33 million readers; AARP Bulletin, the go-to news source for AARP's 39 million members and Americans 50+; AARP Segunda Juventud, the only bilingual U.S. publication dedicated exclusively to the 50+ Hispanic community; and our website, AARP.org. AARP Foundation is an affiliated charity that provides security, protection, and empowerment to older persons in need with support from thousands of volunteers, donors, and sponsors. We have staffed offices in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.

About AARP Services:

AARP Services, founded in 1999, is a wholly owned subsidiary of AARP. AARP Services manages the wide range of products and services that are made available as benefits to AARP's 39 million + members. The offers span health products, travel and leisure products, and life event services. Specific products include Medicare supplemental insurance; member discounts on rental cars, cruises, vacation packages and lodging; special offers on technology and gifts; pharmacy services; legal services; and long-term care insurance. AARP Services founded AARP Financial Incorporated, a subsidiary that manages AARP-endorsed financial products including AARP Funds. AARP Services develops new products, manages and markets products and services, creates and maintains partnership and sponsorship relationships, and develops and manages AARP's award-winning Web site, AARP.org.

About AARP Financial Inc.

Founded in 2005, AARP Financial Inc. is a wholly owned taxable subsidiary of AARP. AARP Financial Inc. is dedicated to helping people age 50 and over prepare for a more secure financial future by offering products and services designed to meet their retirement needs and supporting them with clear information and guidance. We are proud that AARP Financial won the Mutual Fund Education Alliance's 2006 STAR Award for Best Investor Fulfillment/Prospectus Kit and Best Retail Retirement Kit by a small company. Visit us at www.aarpfinancial.com for more information.

AARP Financial offers a carefully chosen array of investment products and guidance, including mutual funds from AARP Financial, designed to meet the needs of investors at any life stage; auto and home insurance through The Hartford; credit cards through Chase; online savings and checking accounts and certificates of deposit through the AARP Financial Savings Center powered by Waterfield Financial Services, Inc.; life insurance and lifetime income annuities through New York Life; and mobile home and motorcycle insurance through Foremost. Please visit us at www.aarpfinancial.com for more information.

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