American Appraisal Pledges Continued Support of the International Valuation Standards Council

Milwaukee, WI, July 17, 2009 --(PR.com)-- American Appraisal is pleased to announce it is one of the first organizations to pledge a three-year annual donation of $100,000 to the restructuring of the International Valuation Standards Council (IVSC). The firm has supported the IVSC for over 10 years, with both financial and human capital.

The IVSC is a non-profit organization formed in 1981 to develop robust and transparent procedures for valuations based on a single set of globally recognized valuation standards.

The restructuring of the IVSC was implemented in a meeting in Kuala Lumpur in October 2008. Headquartered in London, the new IVSC structure includes the following three bodies: an independent global Board of Trustees responsible for strategic direction and funding; a Standards Board appointed by the Trustees, but with autonomy over its agenda and creation of standards; and a Professional Board appointed by the Trustees to promote professional and educational standards for valuation.

Lee P. Hackett, FASA, FRICS, CRE, Executive Vice President and Board Member of American Appraisal, has been elected to a three-year term on the newly restructured IVSC Board of Trustees.

He will serve with eight other distinguished professionals from Hong Kong, USA, Canada, China, Spain, Denmark and France. The IVSC Board is chaired by Mr. Michel Prada, who has had an exceptionally distinguished professional career; his most recent leadership role was as Chairman of the Autorite’ des Marches Financiers – one of the primary financial regulatory agencies of France.

Mr. Hackett is a long-standing employee of American Appraisal, who has held several leadership positions within the valuation profession, including:

· 2006 Chair, Board of Trustees – The Appraisal Foundation (US)
· Past Chair & Current Member – Industry Advisory Council, The Appraisal Foundation (US)
· Past Chair – Affiliate Firm Committee – American Society of Appraisers
· International Advisor – American Society of Appraisers
· Trustee & Treasurer – American Society of Appraisers Educational Foundation
· Member, Valuation Standards Advisory Committee – China Appraisal Society (PRC)

Joe Zvesper, American Appraisal’s Chairman and Chief Executive Officer, said “The restructuring of IVSC is significant to all global financial interests as well as the entire valuation profession. American Appraisal remains committed to our global leadership role as well providing on-going financial support to the IVSC. We are pleased that Lee Hackett has been recognized by his peers with an appointment to the new IVSC Board of Trustees.”

Mr. Zvesper stated further, “American Appraisal’s strategic framework encompasses the development of thought leadership in the valuation profession. Throughout its history, the firm has supported various professional organizations; in recent years this has included The Appraisal Foundation, the Appraisal Standards Board, the American Society of Appraisers, the China Appraisal Society, the FASB Valuation Resource Group, the Royal Institute of Chartered Surveyors, the Appraisal Issues Task Force and other professional societies in countries where we practice.”

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