FOR IMMEDIATE RELEASE

Franchot Addresses Nation's Comptrollers

Urges Increased Transparency and Tax Compliance at Annual Conference

Annapolis, MD (March 25, 2009) - Stressing the increased importance of efficient tax compliance and increased transparency in government, Comptroller Peter Franchot today delivered the keynote address at the opening session of the National Association of State Comptroller's (NASC) 2009 Annual Meeting. Comptroller Franchot's address to his colleagues emphasized Maryland's longstanding reputation for strong fiscal management and his Office's national leadership in the areas of innovative tax collection and compliance.

"I am very proud to be hosting this year's annual conference. Having the conference here clearly reflects Maryland's and Annapolis' status as a nationally recognized business and tourism destination," said Comptroller Franchot. "Maryland is proud of its reputation for prudent financial stewardship, reflected by our longstanding triple A bond rating. I am also proud of the aggressive and technologically enhanced efforts we are spearheading in the field of tax compliance and transparency in government. During these tough economic times, I cannot overstate the importance of having fiscal leaders from around the country exchanging innovative ideas and best practices for weathering the economic storm."

The National Association of State Comptrollers was organized in 1978 as an associate of the National Association of State Auditors, Comptrollers and Treasurers. The NASC's mission is to enhance the effectiveness of state comptrollers and improve financial management in state government through cooperation, sharing of information, education, and advocacy of issues affecting government finances.

The NASC annual conference is designed to provide maximum opportunities for state comptrollers to network with each other and hear industry leaders speak on current and emerging issues. The conference features two and one-half days of technical sessions at which attendees participate in general sessions and roundtables. For the full conference schedule, please visit www.nasact.org.

CONTACT: Joseph Shapiro, 410-260-7305 (office), 443-871-2244 (cell)