NEWS

125-98: FOR IMMEDIATE RELEASE , September 14, 1998

PORT AUTHORITY NAMES RONALD SHIFTAN AS DEPUTY EXECUTIVE DIRECTOR


Port Authority Executive Director Robert E. Boyle announced today the appointment of Ronald Shiftan as Deputy Executive Director of the bistate agency.

"I am pleased to welcome Ronald Shiftan to The Port Authority of New York and New Jersey," Mr. Boyle said. "His experience will be invaluable in ensuring the efficiency of our day-to-day operations, and in planning long-term investment strategies whose benefits extend throughout the region."

Mr. Shiftan has held senior positions in both the investment banking and venture capital businesses. Prior to joining the Port Authority, Mr. Shiftan was Chairman of Patriot Group LLC, a financial advisory firm. Before that, he was Vice Chairman of HealthCare Investment Company, a private investment firm. From 1973 to 1988, Mr. Shiftan was associated with Bear, Stearns & Co. Inc. and its predecessor firms.

A resident of Rumson, N.J., Mr. Shiftan is a graduate of the University of Virginia and of Columbia University, where he received his law degree.

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