Ellington

[Statement] (Jackson, Miss.)--In one of his first actions after his Inauguration, Governor Haley Barbour created a blind trust and will place all of his investment and income earning assets in it. Previously, Governor Barbour resigned as Chairman, President and Chief Executive Officer of Barbour, Griffith and Rogers, Inc., his Washington lobbying firm. The firm is entirely owned by the Interpublic Group of Companies, a holding company that is publicly traded on the New York Stock Exchange.

The blind trust which is not required by Mississippi law, is modeled on trusts used by federal officials. Under the terms of the blind trust, Barbour's assets are managed exclusively by a Trustee, who has the power to buy, sell and trade the assets of the trust. The trustee is S. Griffin Norquist, Jr. The trustee is prohibited from even discussing the management or ownership of assets with Barbour. The purpose is to prevent conflicts of interest by prohibiting the public official from knowing what his financial holdings and interests are.