Board of Directors of Goldman Sachs Announces Its Intention to Elect Lloyd Blankfein as Its Next Chairman of the Board and Chief Executive Officer

NEW YORK, June 2, 2006 -- The Goldman Sachs Group, Inc. (NYSE: GS) today announced that its Board of Directors intends to elect Lloyd C. Blankfein, its President and Chief Operating Officer, as its next Chairman of the Board and Chief Executive Officer. This will occur in the event that the current Chairman and CEO, Henry M. Paulson, Jr., is confirmed by the United States Senate as Secretary of the Treasury of the United States.


On May 30th 2006, the President of the United States announced his intention to nominate Mr. Paulson as the next Secretary of the Treasury.

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Goldman Sachs is a leading global investment banking, securities and investment management firm which provides a wide range of services worldwide to a substantial and diversified client base, which includes corporations, financial institutions, governments and high net worth individuals. Founded in 1869, it is one of the oldest and largest investment banking firms. The firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world.

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