Fairholme Announces Appointment of Fred Fraenkel as President

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Fairholme announced today that Fred Fraenkel will now serve as President of the Firm. Mr. Fraenkel will continue to serve in his current role as Chief Research Officer of Fairholme Capital Management, where he oversees all of the Firm's research activities. “Fred's role as President is an exciting development for Fairholme,” said Bruce Berkowitz, Chief Investment Officer and Managing Member of Fairholme. “Fred's extensive experience in the mutual fund and hedge fund space has proved invaluable to the Firm. This is just a formal announcement of what has already been the reality, and it allows me to focus on what I do best – investing.” “I am excited to help lead Fairholme as we continue

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