Mr. Joaquin Almunia New European Commissioner for Competition

Mr. Joaquin Almunia has been nominated to succeed Neelie Kroes as the next EU Commissioner for Competition Policy. Ms. Kroes has been nominated to become Commissioner for the “Digital Agenda,” which includes the telecommunications sector. If, as expected, Mr. Almunia is confirmed in his new post following hearings before the European Parliament between January 11 and 19, 2010, he will begin his tenure as Competition Commissioner as of February 1, 2010. Mr. Almunia will also be one of seven Vice Presidents of the Commission.