MESS OF PROCTER & GAMBLE COMPANY NAMED CHAIR OF PSCA

Profit sharing/401(k) Council of America Welcomes Newly Elected Board Members

CHICAGO (November 25, 2002) - Thomas J. Mess has been elected to the position of Chair of the Board of Directors for the Profit Sharing/401(k) Council of America (PSCA) for the 2002/2003 Term. Mess is a long-time member of PSCA and the Tax & Legal Counsel for Employee Benefits at The Procter & Gamble Co. His additional legal experience at Procter & Gamble includes labor law, securities law, general and product liability law, and administrative law. Tom is a member of the Ohio State Bar Association and the Cincinnati Bar Association as well as a lecturer at numerous seminars at the University of Cincinnati Law School and the Tax Executive Institute (Southwest Ohio Region) on employee benefits and ethics matters. He took office on September 20 at PSCA's annual conference in Chicago, IL. He replaces Karen Kay Barnes, McDonald's Corporation, who served as PSCA's Chair for two years. She remains as a member of the Board.

PSCA also welcomes newly elected First Vice Chair Judy Knoll, Human Resources Manager for Martin Tractor Company, Inc.; and Shirley Zabiegala, Savings Plan Manager, NestléUSA Inc. as Second Vice Chair. The other newly elected directors are Lisa J. Goyer, Senior Consultant, AMR Retirement Services Inc.; Mark Harris, Director Benefits Design, Tribune Company; Leslie Lanna, Manager Retirement Services, Intel Corporation; and Daniel Madden, Vice President, Global Pensions, Illinois Tool Works.

Continuing on the board are Treasurer John Greenwell, Accenture, and Directors G. Dawn Anderson, Nestlé Waters North America; Mary Nell Billings, FedEx Express; Kevin Feeney, Gartner Inc.; Linda P. Holleman, Aon Consulting Inc.; Timothy Hoppe, Longs Drugs; Robert F. Karsch, Deutsche Bank; Terri Kelley, Crookham Company; Michael Kelso, ELS Inc.; Ray A. Killian, Belk Stores Services Inc.; Ian S. Kopelman, Piper Rudnick; Bruce Musselman, Hatfield Quality Meats; Robert Nicholas, The Quality Castings Co.; Joe Schuster, Domino's Pizza Inc.; Peter Smail, FESCO; James A. Steel, Flint Ink Corp.; Sheryl L. Wright, ISCO Inc. PSCA is proud that such high-caliber and dedicated people are in positions of leadership for the organization.

The Profit Sharing/401(k) Council of America (PSCA), a national non-profit association of 1,200 companies and their 6 million employees, advocates increased retirement security through profit sharing, 401(k) and related defined contribution programs to federal policymakers and makes practical assistance with profit sharing and 401(k) plan design, administration, investment, compliance and communication available to its members. PSCA, established in 1947, is based on the principle that “defined contribution partnership in the workplace fits today’s reality.” PSCA's services are tailored to meet the needs of both large and small companies with members ranging in size from Fortune 100 firms to small, entrepreneurial businesses.