On March 7, 2003, the President of the United States issued an Executive Order entitled "Blocking Property of Persons Undermining Democratic Processes or Institutions in Zimbabwe." Therefore, on March 10, 2003, the Department of the Treasury's Office of Foreign Assets Control (OFAC) amended its list of Specially Designated Nationals and Blocked Persons (SDNs) by adding the names of 77 persons and entities noted in the Executive Order. A copy of the Executive Order and a list of the newly designated SDNs are included as an attachment.

OFAC has asked that we distribute the information to all FDIC-supervised institutions so records can be checked for accounts that are required to be blocked. OFAC information also may be found on the Internet at www.treas.gov/offices/enforcement/ofac/.

Please distribute this information to the appropriate personnel in your institution. For further information about Executive Orders, the list of blocked accounts or the procedures to block accounts, please call OFAC's Compliance Programs Division at 1-800-540-6322.

For your reference, FDIC Financial Institution Letters may be accessed from the FDIC's Web site at www.fdic.gov/news/news/financial/2003/index.html. To learn how to automatically receive FDIC Financial Institution Letters through e-mail, please visit http://www.fdic.gov/news/news/announcements/index.html.

Attachment