News Release

For immediate release

IURC regulator named to lead Department of Financial Institutions

INDIANAPOLIS (July 15, 2005) Governor Mitch Daniels today named Judith Ripley as director of the Indiana Department of Financial Institutions (DFI). In this role, Ripley is the chief executive and administrative officer of the state agency that provides regulatory oversight of state chartered financial institutions.

Ripley, of Indianapolis, has served as a member of the Indiana Utility Regulatory Commission since August 1998. After resigning from the Commission she will begin her new duties effective August 1.

I am pleased with Judy's willingness to take on this new assignment. She brings strong experience to an important job. One thing I have asked her to do is evaluate the present regulatory situation in business sectors under the DFI's authority, said the governor. And, as with all of our key agency heads, I have asked Judy to pay special attention to the role the DFI can play in supporting economic growth in our state.

Ripley received her law degree from the Indiana University School of Law in Indianapolis. She serves as co-chair of the Advisory Council to the Center for Public Utilities for New Mexico State University. The Federal Communications Commission appointed Ripley to the Federal-State Joint Board on Jurisdictional Separations. She is a past member of the Board of Governors of the Indianapolis Bar Association, an appointee to the Marion County Municipal Court Nominating Commission and a delegate to the State Bar Association.

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Media contact: Jane Jankowski, Office of the Governor, 317/232-1622, jjankowski@gov.in.gov