JOSEPH DEAR
Chief Executive Officer
Washington State Investment Board

The Washington State Investment Board (WSIB) appointed Joe Dear as its Executive Director for a three-year term, beginning November 12, 2002. In this role, Mr. Dear serves as the Board’s Chief Executive Officer, overseeing a staff of 56 that implements the Board’s investment policy decisions.

Prior to joining the WSIB, Mr. Dear served as Government Relations Officer for Frank Russell Company, was Chief of Staff for Washington State Governor Gary Locke from 1997 to 2001, was previously appointed by President Clinton as Assistant Secretary of Labor for the Federal Occupational Safety and Health Administration (OSHA), served as Director of the Washington State Department of Labor and Industries Council from 1981 to 1985 and was Executive Director of People for Fair Taxes from 1977 to 1981. Mr. Dear also served as Chairman of the WSIB from 1989 to 1991 and was a WSIB member from 1981 to 1992.

The WSIB manages $50 billion within 33 funds, comprised of defined benefit and defined contribution retirement funds, deferred compensation funds, workers' compensation funds, permanent and other trust funds. The WSIB invests in U.S. and non-U.S. markets in four asset classes (private equity, real estate, fixed income and public equity) using passive index and active management strategies. The Board’s purpose is to maximize return at a prudent level of risk for the exclusive benefit of fund beneficiaries.

Mr. Dear earned a B.A. degree in Political Economy from the Evergreen State College in Olympia, Washington in 1976.