(EMAILWIRE.COM, February 14, 2001 ) USAA announced today that Michael J.C. Roth has retired as president and chief executive officer of USAA Investment Management Co., a subsidiary of USAA. He will be succeeded in that post by Christopher W. Claus, previously USAA Investments' senior vice president of investment sales and service.

Robert G. Davis, USAA president and chief executive officer, said, "Mickey Roth has had an outstanding career with USAA since joining the company in 1978, and has made a valued contribution toward USAA Investments' emergence as a premier company in the investment community. While he has stepped down from active involvement in operations, he has agreed to be a consultant to the company for the next 90 days to assist in the leadership transition."

Davis said that Chris Claus has a strong record of effective management of the sales and service aspects of USAA Investments' mutual fund, brokerage and electronic commerce initiatives, and its member service center operations.

"We are very pleased with the management experience and skills Chris brings to his new assignment," Davis added. "He will lead the seasoned and highly regarded team of investment professionals who manage the 40 no-load USAA mutual funds and he will continue to keep USAA Investment Management Co. moving ahead in other vital areas such as e-commerce."

About Christopher W. Claus

Claus joined USAA Investments in 1994 as vice president of investment sales and service, overseeing the combination of mutual funds and brokerage services. Before joining USAA, Claus was vice president of equity trading and retirement plans at Norwest Investment Services, in Minneapolis, where he was responsible for full service and discount brokerage, as well as for all retirement product lines. Previously, he was director of marketing for Norwest Investment Services, and oversaw development and administration of marketing strategy for that company's discount brokerage units. He holds a bachelor's degree in business administration from the University of Minnesota and a master's degree in business administration from the University of St. Thomas in St. Paul, Minn.

About USAA Investment Management Co.

USAA Investment Management Co. is a subsidiary of USAA, which has been serving military families since 1922 and has become one of America's leading financial services companies. The association, well known for its exceptional service, offers its 4.5 million members a comprehensive range of insurance, banking and investment products and services designed to help them meet their financial needs. Headquartered in San Antonio, Texas, with offices throughout the United States and Europe, USAA owns or manages assets of more than $60 billion.

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Produced for USAA

Contact:
Tom Honeycutt, (210) 498-0910
Ron Anderson, (210) 498-1479

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Contact Information:
USAA Investment Management Co.
Joseph Nchor
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