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IMMEDIATE RELEASE

Release No: 314-01
July 16, 2001

NEW HEAD OF DEFENSE INDUSTRIAL POLICY TAKES OFFICE

Suzanne D. Patrick has been appointed deputy under secretary of Defense for Industrial Policy (DUSD(IP)). She assumed her Pentagon office on July 9, 2001.

As the DUSD (IP), Patrick is responsible for all decisions regarding mergers and acquisitions, domestic and foreign, affecting the U.S. defense industry; the Department's relations with NATO defense and aerospace industries; and the overall health of the U.S. defense industrial base. She brings to this position more than 20 years of experience in aerospace industry finance and weapons systems acquisition for U.S. and NATO forces.

Patrick began her career at the Naval Air Systems Command as program manager for the Royal Netherlands Navy P-3 antisubmarine warfare aircraft project. She also worked on the staff of the deputy chief of Naval Operations (Air Warfare), where she was responsible for all international aviation programs and associated technology transfer issues. In 1985 she joined the secretary of the Navy staff as deputy director for the Congressional Liaison and Weapons Systems Acquisition for the Navy's $10 billion research and development budget.

From 1987 to 1990 she worked with Sanford C. Bernstein & Co. Inc. providing investment recommendations on the aerospace and defense industry to portfolio managers. In this capacity, Patrick had close working relationships with the chairmen and chief financial officers of all major U.S. aerospace firms in assessing the financial impact on company earnings of key military programs. During the1990's she focused on investment opportunities in the emerging markets of Eastern Europe. Her work included assessments of the Hungarian, Czech, and Slovak defense industries and the development of cooperative research and development projects between Hungarian research institutes and United Technologies Corp. Her Wall Street career culminated as the portfolio manager of New Poland Eagle Investment Advisers.

Patrick is an honors graduate of Randolph-Macon Woman's College in Lynchburg, Va., where she was a George C. Marshall Scholar. She also has a master of arts degree in national security studies from Georgetown University, as well as certificates in international relations and aerodynamic design from the Institut d'Etudes Politiques in Paris and Virginia Polytechnic Institute, respectively. She is a commander in the U.S. Naval Reserve specializing in defense economics.

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